NNPC Ltd Affirms PMS Prices Governed by Free Market Forces Amidst Forex Challenges The Nigerian National Petroleum Company Limited (NNPC Ltd) has reiterated that the prices of Premium Motor Spirit (PMS), commonly known as petrol, are determined by free market forces, emphasizing that the ongoing fuel price fluctuations are driven by market dynamics, including the…
Nigeria-China Partnership Set to Boost Energy Access by 30%, Says Power Minister Adebayo Adelabu In a bid to transform Nigeria’s energy landscape, the Minister of Power, Adebayo Adelabu, has emphasized the importance of strategic collaboration between Nigeria and China in achieving Nigeria’s ambitious energy goals. Addressing the Chinese business community and investors at the 1st…
Minister Lokpobiri Responds to Dangote, Clarifies FG’s Position on Petrol Pricing In a recent development that has drawn widespread attention, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has responded to claims made by Aliko Dangote, President of Dangote Refinery and Petrochemical Company Ltd, regarding the pricing of Premium Motor Spirit (PMS),…
OPEC+ Postpones Oil Output Increase by 2 Months Amidst Market Turmoil In a significant move that will reverberate across global oil markets, OPEC+ has reached an agreement to delay the planned increase in oil output by two months, according to sources within the cartel who spoke to Bloomberg. Originally set to begin in October, the…
CORAN Congratulates Dangote Refinery on Landmark Milestone: A New Era for Nigeria’s Petroleum Industry The Crude Oil Refinery Owners Association of Nigeria (CORAN) has extended a warm and resounding congratulations to Mr. Aliko Dangote and the entire team at Dangote Refinery on achieving a remarkable feat—the commencement of the production of Premium Motor Spirit (PMS)….
Over 6000 people have benefitted from NNPC, SNEPCo Vision First Plus programme in Bariga Local Council Development Area (LCDA) of Lagos State No fewer than 6575 people benefitted from an eyecare outreach held in Bariga Local Council Development Area (LCDA) of Lagos State, August 26—30, as part of the Vision First Plus programme of the Nigerian National Petroleum Company Limited (NNPC) and Shell…
Nigeria’s Gas Production Surges by 12% in July, Reaching 175 Billion Cubic Feet Amid Mixed Utilization and Flaring Trends In a significant development for Nigeria’s energy sector, the country’s total gas output saw a notable increase of 11.5% in July 2024, reaching 175.003 billion standard cubic feet (BSCF). This marks a rise from the 156.952…
Saudi Arabia Poised to Reduce Crude Oil Prices for Asia in October Amid Market Dynamics In a significant move that could shape the global oil market, Saudi Arabia, the world’s leading oil exporter, is anticipated to lower the prices of most of its crude grades for October shipments to Asia. This expected price cut comes…
TCN MD Abdulaziz Confirms Transmission Capacity of 6,000 Megawatts, Sets Stage for Further Expansion in Nigeria’s Power Sector The Transmission Company of Nigeria (TCN) has made a significant declaration, affirming its current capacity to transmit up to 6,000 megawatts (MW) of electricity to distribution centers across the nation. This announcement, which comes amidst ongoing efforts…
WorldStage Economic Summit 2024 to Address Comprehensive Business and Economic Recovery Amidst Nigeria’s Ongoing Economic Struggles As Nigeria continues to grapple with the aftermath of several economic disruptions, including the far-reaching impacts of the COVID-19 pandemic, the complexities of Naira re-denomination, and the contentious removal of fuel subsidies, the WorldStage Economic Summit (WES) has chosen…
