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NIPCO Set to Connect Lekki Free Trade Zone With Gas Pipeline

NIPCO Gas Ltd. has signed an agreement with the NNPC Gas Marketing Ltd. (NGML) and Lekki Free Zone Development Company (LFZDC) to build a gas pipeline. The gas pipeline, which is expected to be completed in the next six months, is planned to supply gas to the Lekki Free Zone and feed a 24 Megawatts […]

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News Oil & Gas

Fuel Scarcity: MOMAN, NNPCL Collaborate to Improve Distribution – Official

The Major Oil Marketers Association of Nigeria (MOMAN) says it is working with the Nigeria National Petroleum Company (NNPC) Ltd., to improve the distribution of petrol across the country.  Mr Clement Isong, Chief Executive Officer of MOMAN, said this in an interview with the News Agency of Nigeria (NAN), in Lagos on Saturday, against the […]

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News Oil & Gas

How Low Oil Production Forced Nigeria’s Economic Growth To Slow Down By 2.25%

Nigeria’s Gross Domestic Product (the tool used in monitoring economic growth) declined due to a drop in productivity in the economy due to the recurrent contraction in the oil sector and the low growth in key non-oil sectors such as transportation, banking, and education. However, the country’s GDP grew by 2.25 per cent year-on-year in […]

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News Oil & Gas

Kolmani Oil Project: We’ve Attracted over $3bn Investment in Fossil Energy – Buhari

President Muhammadu Buhari says his administration has attracted over US$3 billion investment in the Oil and Gas Sector at a time of near-zero appetite for investment in fossil energy. Mr Femi Adesina, the President’s spokesman, in a statement, said Buhari stated this at the inauguration of the Kolmani Integrated Development Project on Tuesday in Bauchi. […]

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News Oil & Gas

Buhari Flags Off First Oil Exploration In North-East, Tinubu, Lawan Others Present

  President Muhammadu Buhari on Tuesday flagged off the Kolmani Integrated Development Project in the North-East, the first of its kind in the zone.       Buhari said the oil exploration at the Kolmani River located between Gombe and Bauchi states has already attracted over $3m foreign direct investment and will boost Nigeria’s fortunes […]

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News Oil & Gas

Nigeria Earns $741.48bn From oil, Gas From 1999 to 2020 – NEITI

  Nigeria earned 741.48 billion dollars from oil and gas between 1999 and 2000, the Nigeria Extractive Industries Transparency Initiative, NEITI, declared in Abuja on Tuesday.   Its Executive Secretary, Dr Orji Ogbonnaya Orji, made the declaration at a stakeholders’ engagement forum on the implementation of the Petroleum Industry Act, PIA.   He said NEITI […]

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News Oil & Gas

OPEC List: Nigeria Drops to 7th Position

Nigeria now ranks seventh on the Organisation of the Petroleum Exporting Countries (OPEC) crude oil production list. OPEC’s Monthly Oil Market Report for November which examined oil production performance in October, revealed that Nigeria’s output was 1.014 million barrels per day in October, ranking seventh after Saudi Arabia, United Arab Emirates, Kuwait, Iraq, Angola and […]

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Youth Group Charges NNPCL To End Fuel Scarcity

Following the raging fuel scarcity in the country, the Arewa Youths Alliance for Progress and Development (AYAPD), has advised the Group Chief Executive Officer of the NNPCL, Kolo Mele Kyari and Managing Director of Duke Oil, NNPCL’s official trading company, to end petroleum scarcity in the country. Comrade James Ishaku, Secretary, Arewa Youths Alliance for […]

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News Oil & Gas

Fuel Subsidy To Go By June 2023,- Finance Minister

The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, says the Federal Government will do away with petroleum subsidy by June 2023. Ahmed said this on Tuesday in Abuja, during a press conference to mark the end of the 28th National Economic Summit (NES). The News Agency of Nigeria (NAN) reports that fuel […]

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Ship, 26 Suspects Risk Life Imprisonment Over Crude Theft, Says FG

The Federal Government said the ‘rogue’ vessel that entered the nation’s maritime environment on August 7 “without any form of authorisation” and 26 other suspects standing trial before a Federal High Court in Port-Harcourt, Rivers State, risk life imprisonment upon conviction. A very large crude oil carrier (VLCC) known as MT Heroic Idun was reported […]

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