NUPRC Advocates for ADR to Boost Nigeria’s Oil and Gas Industry. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has emphasized the importance of Alternative Dispute Resolution (ADR) as a catalyst for growth in the country’s oil and gas industry. The Commission’s Chief Executive, Gbenga Komolafe, highlighted that the adoption of ADR would lead to quicker…
Senegal Establishes Commission to Review Oil and Gas Contracts. Senegal has formed a commission of experts in legal, tax, and energy sectors to reassess its oil and gas contracts with the goal of rebalancing them in favor of national interests. This initiative was announced by Prime Minister Ousmane Sonko on national television on Monday. The…
NNPC Posts Record N3.3 Trillion Net Profit, Declares N2.1 Trillion Dividend for 2023. The Nigerian National Petroleum Company Limited (NNPC) has announced a record-breaking net profit of N3.297 trillion for the 2023 financial year, marking a 28% increase from the N2.548 trillion recorded in 2022. This profit is the highest ever achieved in the company’s…
NSC and Borno State Government to Commission Inland Dry Port. The Nigerian Shippers Council (NSC) has partnered with the Borno State government to establish an Inland Dry Port (IDP), aimed at facilitating the movement of cargo from inland areas to seaports. This initiative is part of the NSC’s broader efforts to improve trade logistics and…
Libya’s Sharara Oilfield Increases Production to 85,000 BPD to Supply Zawia Refinery. Production at Libya’s Sharara oilfield has increased to approximately 85,000 barrels per day (bpd), according to sources at the field. The move is intended to supply crude oil to the Zawia oil refinery. This development comes after the National Oil Corporation (NOC) of…
NPA Management Appoints New Port Managers The Nigerian Ports Authority (NPA) has announced the appointment of six new port managers as part of its ongoing efforts to optimize port operations across the country. The appointments were approved by the Managing Director of NPA, Dr. Abubakar Dantsoho, and are effective immediately. In the latest reorganization, Mr….
NCDMB Commissions Daewoo Galvanising Plant in Rivers State. The Nigerian Content Development and Monitoring Board (NCDMB), under the leadership of its Executive Secretary, Engr. Felix Omatsola Ogbe (FNSE), today commissioned the Daewoo Engineering and Construction Nigeria Limited Galvanising Plant in Abam Ama, Okrika Local Government Area of Rivers State. The event was attended by management…
NNPC Seizes 63 Illegal Refineries in a Week Amid Intensified Fight Against Oil Theft. The Nigerian National Petroleum Company Limited (NNPC) has reported the discovery and seizure of 63 illegal refineries within the past week as part of an intensified crackdown on oil theft. The operation, which spanned across Bayelsa, Rivers, Abia, Imo, and Delta…
Nigeria and Equatorial Guinea Sign Gas Pipeline Agreement Nigeria and Equatorial Guinea have signed a landmark agreement to establish and operate a gas pipeline, marking a significant step towards enhancing regional energy security and promoting economic integration across Africa. The agreement was announced on Thursday by Nigerian presidential spokesperson Ajuri Ngelale. The signing took place…
Ogun Communities Protest High Electricity Tariffs, Petition IBEDC and NERC. Residents of several communities in the Ota area of Ogun State have expressed their discontent with the high electricity tariffs imposed by the Ibadan Electricity Distribution Company (IBEDC) due to their Band A classification. The communities, united under the Ota Area Community Development Committee (OACDC),…
