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...Growth to shrink by 3.3% The World Bank has released its Africa Pulse Report 2020, advising oil producing countries in Africa to brace for at least $115 million in output losses this year, just as it predicted that real Gross…
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The federal government has commenced the conversion of official vehicles belonging to Ministries, Departments and Agencies (MDAs) from petrol to Compressed Natural Gas (CNG) in designated centres in Abuja. It said part of the move was…
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World oil demand will plateau in the late 2030s and by then begin to decline, the Organization of the Petroleum Exporting Countries (OPEC) said in its 2020 World Oil Outlook. OPEC said on Thursday that the plateau and subsequent decline…
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Nigeria’s President Muhammadu Buhari announced Oct. 8 in his 2021 budget proposal to parliament a lower output target and expected oil price benchmark for next year, as the OPEC member braces for reduced revenues from its key industry. …
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Gas is Nigeria’s new petrol, petroleum minister Timipre Sylva said of the oil-dependent nation’s attempt to diversify and overcome the crude oil price volatility that perennially afflicts its econ­omic growth. He said it way back in…
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The Senate yesterday denied ever dumping the Petroleum Industry Bill (PIB), saying it is committed to expeditious passage of the Bill and the N13.08 trillion 2021 budget estimates. Senate spokesman and chairman of its Committee on Media…
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Oil workers under the aegis of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) have again threatened to disrupt oil and gas operations across the country if the federal government fails to pay their salaries…
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…Says Corporation’s Pipelines No Where Near Location of Incident The Nigerian National Petroleum Corporation has commiserated with the Government and people of Lagos State, and particularly the residents of Baruwa area, on the gas plant…
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The Chairman, International Energy Service Limited, Dr Duran Fawibe  has said the decision of federal government to remove subsidy on petrol is a welcome development, calling it a courageous decision. President Muhammadu Buhari …
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*The reform is long overdue Time in Nigeria sometimes seems to follow its own rhythm. When the government introduced petrol subsidies they were meant to last just six months. Some four decades later, they endure. Africa’s biggest oil…
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