3.5m metric tonnes of trade facilitated by NPA in 6 months – Bello-Koko Efforts of the Nigerian Ports Authority (NPA) in eliminating the challenges facing export in Nigeria are beginning to yield results as a total of 3.5 million metric tonnes of export trade were facilitated through the nation’s seaports in the first six months…
FDI key to Africa’s gas reserves development– SNEPCo MD African countries must take deliberate steps to attract foreign direct investments (FDI) to harness their vast gas resources given the huge amount of capital required, Managing Director of Shell Nigeria Exploration and Production Company Limited (SNEPCo) Elohor Aiboni, said last week in Lagos at the 2023…
Nigeria’s Oil Revenue Rises by 70% to N1.34tn Nigeria earned N1.34 trillion from the petroleum industry in the first quarter of 2023, according to latest data released by the Central Bank of Nigeria (CBN), rising by 69.75 per cent compared with earnings of N789.985 billion from the sector in the same period in 2022. The…
7,000 filling stations added to autogas register About 7,000 additional number of filling stations across the country have registered their outlets to partake in dispensing autogas, which include Compressed Natural Gas and Liquefied Petroleum Gas into vehicles. It was gathered, that some Asian manufacturers of conversion kits that convert vehicles that run on Premium Motor…
FG, oil companies to drive cleaner hydrocarbon amid challenges Although the Nigerian National Petroleum Company Limited (NNPCL), yesterday, in Lagos, reiterated its stance against transitioning from fossil fuel, stakeholders insisted that technology and stringent regulations would be deployed in Nigeria’s oil and gas sector to meet the Federal Government’s commitment to a carbon-neutrality by 2060,…
Big Oil Profits to Take a Hit amid Lower Oil and Gas Prices Big Oil Companies Big Oil companies Exxon Mobil Corp. (NYSE:XOM) and Chevron Corp. (NYSE:CVX) are both set to report a significant drop in second quarter profits when they return their quarterly scorecards on the 28th of July thanks to a sharp decline…
Nigerian Navy, NIMASA to strengthen ties towards Deep Blue Project Success The Nigerian Navy says assets acquired by the Nigerian Maritime Administration and Safety Agency (NIMASA) under the Integrated National Security and Waterways Protection Infrastructure, otherwise known as the Deep Blue project have been deployed across the South West, Central and Eastern Zonal operations to enhance…
NERC, DisCos fine-tune tariffs hike plan The National Assembly yesterday objected to the proposed electricity tariff hike in the Nigerian Electricity Regulatory Commission (NERC) and the Electricity Distribution Company (DisCos). But the Senate and the House of Representatives said the proposed tariff increase should be put on hold to “allow Nigerians to breathe”. In particular,…
TUC Gives Govt 2 Weeks Ultimatum Over Fuel Subsidy Negotiation The Trade Union Congress of Nigeria, TUC, yesterday, gave the Federal Government a two-week ultimatum to conclude negotiations or face workers’ protest. TUC threatened that if after August 19, nothing tangible was concluded it would be forced to take further action to protect members and…
Reps Vow to Recover $9bn Gas Flaring Fines From Erring Oil Firms The House of Representatives said it will stop at nothing to recover the over $9 billion gas flaring fines imposed by the federal government on erring local and foreign companies operating in the oil and gas industry. The House through its Ad-hoc Committee…
