Industry

•Says subsidy hits N150bn monthly Nigerian National Petroleum Corporation (NNPC) yesterday lamented the escalating incidence of petrol smuggling across Nigeria’s borders, which it puts at a whopping 42 million litres per day. The…
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The Nigerian Content Development and Monitoring Board (NCDMB) and Nexim Nigerian Export-Import Bank on Wednesday in Abuja signed a memorandum of understanding on the administration of US$30 million Working Capital Fund for oil and gas…
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TotalEnergies Plc yesterday said that by 2030, it will be investing $60 billion in renewable energy projects. It noted that 10 per cent of the investments will be in Nigeria. The company’s Executive General Manager, Mrs. Bunmi…
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the high volume of daily consumption, the country cannot sustain subsidy payment.... Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has said the federal government is injecting between N140…
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•Insist 10% equity to host communities must stand •Say host communities unsuitably defined, criminalized •Argue oil states ought to have rights of first refusal to acquire shares Barely a few days to the June 30 target of getting…
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South Sudan’s Ministry of Petroleum (MoP) officially launched the country’s first-ever oil and gas licensing round in Juba on Wednesday; Hosted by the MoP and attended by industry executives and international stakeholders, the event…
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A week before the latest deadline to pass Nigeria’s long-awaited oil overhaul bill, demands for big changes, including from community leaders seeking an increased share of revenues, could push its passage into late this year, four sources…
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The Nigerian National Petroleum Corporation (NNPC) says smuggling across the borders has increased the daily consumption of Premium Motor Spirit (PMS) to 103 million litres per day in May. Vanguard reports that the Group Managing…
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Benchmark oil prices could hit $100 a barrel and price volatility could also grow due to lower investments and the energy transition, the heads of top energy companies said on Tuesday. "There is quite a chance to reach $100 but we could…
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Lekoil Nigeria has disclosed that a number of its directors and senior executives have resigned with immediate effect from the Board of Lekoil Cayman. Lekoil Cayman, a Cayman Islands-registered AIM-listed holding company holds a 40…
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