US fumes as OPEC+ slashes output by 2m barrels, analysts question motive The Organisation of Petroleum Exporting Countries and its allies have recently agreed to a drastic two million barrel per day reduction in oil output with authorities in the United States of America kicking against the decision. The cartel, also known as OPEC+ arrived…
NCDMB Begins Customer Service Week in Grand Style Delivering effective service to stakeholders of the Nigerian oil and gas industry is a key objective under the implementation of the Nigerian Content 10-year strategic roadmap, the Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote has said. He stated this on Thursday,…
Fuel Queues: Don’t Panic, We Have Enough Supply In Stock NNPC Ltd wishes to inform the general public that it has sufficient stock of petroleum products and the public should not give in to panic buying. The current queue situation in some parts of Abuja and its environs is as a result of delays in…
Geregu Power Adds N250 Billion to NGX Market Capitalization The listing by introduction of Geregu Power Plc on the Main Board of The Nigerian Exchange Limited (NGX), today, added N250 billion to the market capitalization of the Exchange. NGX said in a statement that the listing has further boosted liquidity in the Nigerian capital market…
Seplat Energy’s Transition Priorities Excite Global Stakeholders Seplat Energy Plc, leading Nigerian energy company listed on the Nigerian Exchange and the London Stock Exchange, says that its energy transition priorities remain to end flaring, monetise gas, displace diesel and biomass with cleaner fuel, extend along power value chain and target smaller scale gas-to-power customers. Roger…
Lawan says Oil thieves are Enemies of Nigeria Ahmad Lawan, Senate President, has bemoaned and described perpetrators of oil theft in Nigeria as enemies of the state. The lawmaker said this on Friday during the presentation of the 2023 budget proposal at the National Assembly. “Mr. President, I consider the oil thieves the worst enemies…
Oil Heads for Weekly Gain after OPEC+ Cut Oil rose about 1% on Friday and was headed for a second consecutive weekly gain supported by OPEC+’s decision to make its largest supply cut since 2020 despite concern about recession and rising interest rates. The cut from the Organization of Petroleum Exporting Countries and allies including…
FG to add 817MWs to national grid to boost power supply –TCN The Federal Government says plans are ongoing to add additional 817 Megawatts (MWs) of electricity to the national grid to boost power supply witin the FCT and its environs. Mr Sule Abdulaziz, the Managing Director of Transmission Company of Nigeria (TCN), said this…
OPEC Daily Basket Price Stood at $90.68 a Barrel Monday The price of OPEC basket of 13 crudes stood at $90.68 a barrel on Monday, September 3, 2022, compared with $92.34 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes, ORB, is made up of the following: Saharan Blend…
Senate Directs NLNG to Pay Host Communities N18.4b Compensation Within 2 Months The attention of Nigeria LNG Limited (NLNG) has been drawn to a resolution said to have been passed by the Senate, following the consideration of a report by its Committee on Ethics, Privileges and Public Petitions, sequel to a petition relating to compensation…
