Ardova Records Gross Revenue of N192.47 billion in 2021 Financial Year Ardova Plc, a Nigerian integrated energy company, says it recorded a gross revenue of N192.47 billion in the 2021 financial year, representing a 5.95 per cent increase from the 2020 revenue of N181.66 billion. The company disclosed this at its 43rd Annual General Meeting…
Osinbajo Charges OPTS to take the Lead in Solar Power to Help Drive Nigeria’s Energy Mix By Ikenna Omeje As the global push towards energy transition intensifies, the Nigeria’s Vice President, Professor Yemi Osinbajo, has charged members of the Oil Producers Trade Section (OPTS), a subgroup of the Lagos Chamber of Commerce and Industry (LCCI),…
Nigeria’s crude oil production maintained its dropping streak in August, to average 1.100 million barrels per day (mbpd). The Organisation of Petroleum Exporting Countries (OPEC) in its Monthly Oil Market Report for September 2022, said the figure represents a decrease of 64,000 barrels per day when compared with 1.164mbpd average production in the month of…
NMDPRA Inaugurates SERVICOM Committee to Improve Service Delivery The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMPRA) has inaugurated SERVICOM Committee to improve service delivery. The Committee will help the NMPRA to manage performance expectations between the government and the public on issues of service delivery to ensure customer satisfaction. SERVICOM is an acronym for…
LCCI Charges Federal Government to Tackle Oil Theft to Earn More Foreign Exchange The Lagos Chamber of Commerce and Industry (LCCI) has charged the Federal Government to tackle the menace of oil theft in the Niger Delta region to earn more foreign exchange for the country. LCCI also called on the government to take a…
Rosario Osobase to Receive the 2022 Brian Reuben Awards of Strategic Excellence For being at the forefront of first-class value creation and demonstration of excellence, the Executive Secretary of the Petroleum Contractors Trade Section (PCTS), Rosario Osobase, will receive the 2022 Brian Reuben Awards of Strategic Excellence. The Chief Executive Officer of Africa Economic Summit…
FG Inaugurates Governing Board for Gas Infrastructure Fund The Federal Government has inaugurated the Governing Council of the Midstream and Downstream Gas Infrastructure Fund (MDGIF). Inaugurating the nine-member Governing Council of the Midstream and Downstream Gas Infrastructure Fund (MDGIF), Minister of State for Petroleum Resources, Chief Timipre Sylva, said more than $20 billion is required…
NCDMB’s ICT Sectoral Working Group Holds 3-Day Workshop in Lagos As part of the efforts to deepen local content in the Information and Communication Technology (ICT) in the Nigerian oil and gas industry, the Nigerian Content Consultative forum (NCCF) ICT – Sectorial Working Group of the Nigerian Content Development and Monitoring Board (NCDMB), recently held…
Nigeria Backs Saudi Arabia on Possible Oil Production Cut By Ikenna Omeje The Nigerian government has backed Saudi Arabia, the de-facto leader of the the Organisation of Petroleum Exporting Countries (OPEC), on its idea that members may cut oil production output to stabilize the market. Saudi Energy Minister, Prince Abdulaziz bin Salman, who floated the…
IBEDC, USAID Partner on Empowering Women in Power Sector The Ibadan Electricity Distribution Company (IBEDC) is collaborating with the United States Agency for International Development (USAID), to promote gender equality and empower women in the power sector. This was the focus of the “IBEDC 2022 DISCO for Women Conference” held in Ibadan, Oyo State, with…
