NNPC’s Partnership With Private Security Outfit Yielding Results As Crude Oil Production Rises By 300,000BPD The security agreement which the Nigerian National Petroleum Company Ltd entered with Tantita Security Services Ltd is already yielding results as the country has started experiencing increase in crude oil and gas production volumes. The NNPC had on August 13…
Shell Distributes Food and Relief Materials to Flooded Rivers, Bayelsa, Delta and Imo Communities It was a busy week for Shell Disaster Response Program as coordination teams through health outreach distributed food and non food relief materials to flooded affected communities in Rivers, Bayelsa, Delta and Imo States.
Government Blames Oil Theft for Nigeria’s Economic Situation The federal government has attributed the country’s economic uncertainties to increasing armed robbery, kidnapping, communal tensions, pipeline vandalism and oil theft across the Niger Delta Region. To this end, the federal government had directed the Ministry of Niger Delta Affairs to design and develop a strategic document…
NNPC/CNL Joint Venture Secures $1.4B Financing For Infill Drilling Program Chevron Nigeria Limited (“CNL”), operator of the joint venture between the Nigerian National Petroleum Corporation (“NNPC”) and CNL (“NNPC/CNL JV”) confirms that $1.4 Billion financing has been secured to fund the NNPC/CNL JV infill drilling program (“Project”) between 2022 to 2026. The financing arrangement was…
Oil Producing States Get N625bn in Two Years – Presidency The nation’s nine oil-producing states received a total of N625.43 billion as 13 percent oil derivation, subsidy and SURE-P refunds from the Federation Account in the last two years, 2021 and 2022, the Presidency has announced. A statement released on Friday by the Senior Special…
Wike, Diri trade words over 13 percent oil derivation arrears Rivers State Governor Nyesom Wike and his Bayelsa State counterpart, Douye Diri, have traded words over the 13 percent crude oil derivation arrears, which Wike revealed was released by President Muhammadu Buhari to state governors in the Niger Delta. Wike had asked the Attorney General…
Natural Gas Will Remain Key Energy Source in Next 30 Years – NLNG Amid the global push towards transition to greener energy sources, the Managing Director of the Nigeria Liquefied Natural Gas (NLNG), Philip Mshelbila, has said that natural gas will remain a key energy source to the world in the next 20 to 30…
British Gas Launches Peak Save Energy Reduction Plan British Gas is launching an energy reduction plan for this winter that will pay customers for every unit of electricity they save compared to their normal usage, the company said on Thursday. The plan, called “Peak Save”, will run between December 2022 and March 2023, and could…
Panic Buying: No Plan to Increase Fuel Price, NMDPRA Assures Nigerians The Nigerian Midstream and Downstream Petroleum Regulatory Authority on Wednesday said the Federal Government is not currently planning to increase the price of Premium Motor Spirit popularly called petrol. Fuel queues resurfaced in Lagos, Abuja and some neighbouring states, a development that has made…
Sahara Group Awards $55,000 Seed Capital to 11 African Social Innovators Sahara Group, an integrated energy company, has awarded $5,000 each as seed capital to 11 African social innovators who successfully completed its 2022 Sahara Impact Fund (SIF) Fellowship programme. The three-month Fellowship, which was organized by Sahara Foundation in collaboration with LEAP Africa, a…
