Experts Approval for Diesel Price Reduction, Attributed to Deregulation and Naira Flotation. Stakeholders in Nigeria’s oil and gas industry have praised President Bola Tinubu’s economic policies, attributing the recent reduction in diesel prices to the gains from these policies. They highlighted measures such as the removal of fuel subsidies and the unification of foreign exchange…
NNPC Reiterates Commitment to Transforming Nigeria into a Gas-Powered Nation. NNPC has restated its commitment to transitioning Nigeria into a gas-powered nation, leveraging the country’s abundant natural gas reserves, which exceed 209 trillion cubic feet. Mele Kyari, the Group Chief Executive Officer of NNPC, reiterated this commitment while receiving the Energy Times’ GCEO of the…
EKEDC Announces Plans to Upgrade Customers to Bands A & B. The Eko Electricity Distribution Company (EKEDC) has unveiled its medium and long-term strategy aimed at upgrading all its customers to Bands A and B, with the goal of enhancing service delivery and improving supply across franchise areas. Mr. Samuel Edoho, the General Manager of…
ARDA Executive Secretary to Highlight Africa’s Downstream Opportunities at African Energy Week (AEW) 2024. Anibor Kragha, the Executive Secretary of the African Refiners and Distributors Association (ARDA), is gearing up to shine a light on Africa’s burgeoning downstream industry at the upcoming African Energy Week (AEW): Invest in African Energy conference, slated from November 4–8…
Dangote Refinery Slashes Diesel Price to N1,000 per Litre. Dangote Refinery has made a significant announcement expected to have far-reaching benefits for various sectors of the Nigerian economy: a substantial reduction in diesel prices. Effective immediately, the per-liter cost of diesel has been slashed to N1,000. This announcement was made through a statement released by…
Gas Supply Agreement for Brass Methanol Project Scheduled for May Execution, Announces Minister Ekperikpe Ekpo. The Gas Supply and Purchase Agreement (GSPA), pivotal for the advancement of the Brass Methanol Project, is slated to be finalized and executed by May 2024, as announced by Rt. Hon. Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas),…
Nigeria Potentially Paying N600 Billion Monthly for Fuel Subsidy Despite Official Removal – Rainoil CEO. Rainoil CEO Gabriel Ogbechie has stirred up the discussion around fuel subsidies in Nigeria, suggesting that despite their official removal in May 2023, the government may still be spending a significant N600 billion monthly. Ogbechie made this assertion during a…
Gas flare programme critical pathway to net zero carbon emission – NUPRC. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has identified the Nigerian Gas Flare Commercialisation Programme (NGFCP) 2022 as one of the critical pathways to achieving Net Zero Carbon Emission. The Commission’s Chief Executive, Mr Gbenga Komolafe, said this at its Investors’ Forum on…
Oil And Gas, Quickest Way For Nigeria To Overcome Economic Hardship – Minister. The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has emphasized that Nigeria’s quickest path to overcoming current economic challenges lies in the exploration and production of oil and gas. Lokpobiri stated that the government is actively involved in policy…
ECOWAS Commission Commends ICC’s Progress in Maritime Security in Gulf of Guinea. The President of the ECOWAS Commission, Dr Omar Touray, has praised the efforts of the Inter-regional Coordination Centre (ICC) for its maritime security achievements in the Gulf of Guinea. Touray made this known at the 4th Annual Meeting of the Heads of Institution…
