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By Teddy Nwanunobi The Federal Government targets to sign the contracts for the rehabilitation of the Warri and Kaduna refineries in June. Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele…
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By Teddy Nwanunobi Seplat Petroleum Development Company (SPDC), a leading upstream oil company in Nigeria, has blamed the loss of N41.1 billion ($114.4 million) it suffered from its interest in OML 55 on “significant fall in oil…
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The price of petrol is set to increase by between R1 and 95 cents a litre as of Wednesday, the Department of Mineral Resources and Energy (DMRE) said. The price of 95 (ULP and LRP) will rise by R1 while the price of 93 (ULP and LRP)…
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The Managing Director of Banner Energy Limited, Mr. Nuhu Yakubu, has said his company has started converting petrol and diesel-powered vehicles to Autogas in Abuja. Yakubu disclosed this in a chat with THISDAY, explaining that the…
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By Teddy Nwanunobi Nigeria’s oil production from January to October 2020, according to the latest data from the Nigerian National Petroleum Corporation (NNPC), fell by 10.25 per cent, when compared to similar period in…
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By Teddy Nwanunobi Low investment will affect Nigeria’s crude oil capacity, according to an International Energy Agency (IEA), which forecasts that it would drop by 200,000 barrels per day (bpd) to 1.6 million bpd (mbpd) in 2026 due to…
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The Nigerian Ports Authority (NPA) and the Nigerian Liquefied Natural Gas Limited (NLNG) have commenced moves to reduce carbon dioxide emission, and embrace the use of cleaner and safer sources of energy. Speaking at the just concluded…
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By Teddy Nwanunobi Oil prices gained early on Tuesday, following a drop in the U.S. dollar, which made crude a more attractive buy, paring losses of more than 4 per cent incurred overnight on the prospect of producers returning more…
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By Teddy Nwanunobi The duo of the Nigerian National Petroleum Corporation (NNPC) and Maire Tecnimont have signed a $1.5 billion contract to repair the Port Harcourt Refinery. The contract is expected to run in three phases of 18…
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The Nigerian government has revoked the four Production Sharing Contracts (PSCs) operated by Addax Petroleum in the country. The PSCs are in respect of Oil Mining Leases (OMLs) 123, 124, 126 and 137, all operated by Addax Petroleum…
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