FG to commission Nedogas 300 MMscfd Kwale Gas Gathering facility Nedogas Development Company Limited (NDCL), a Joint Venture company between Xenergi Limited and NCDMB Capacity Development Intervention Company, has in collaboration with the NNPC Gas Infrastructure Company (NGIC), a subsidiary of the Nigerian National Petroleum Company (NNPC) Limited, successfully completed the construction and technical commissioning…
OPEC+ Extends Deep Oil Production Cuts into 2025 OPEC+ agreed on Sunday to extend most of its deep oil output cuts for 2024 but to start phasing them out in 2025, as the group seeks to shore up the market amid tepid global demand growth, high interest rates and rising rival U.S. production. Oil prices…
Geregu Power, Siemens Energy Strike Deal to Upgrade Generation Capacity to 500MW Foremost Nigerian power generation solutions provider, Geregu Power Plc, has entered a pact with Siemens Energy to jointly develop solutions for capacity expansion at the Geregu 1 power plant. The aim of partnership is to ensure sustainable, resilient, and efficient power generation while…
Egbin Power Celebrates Employee Dedication and Excellence with Long Service and Recognition Awards In a gesture of gratitude for the enduring commitment and remarkable achievements of its workforce, Egbin Power Plc recently hosted its esteemed Long Service Award and Employee Recognition Award (ERA) ceremony for the year 2024. The event honored individuals and teams for…
NNPC Earns Maritime Security Certification, Highlighting Commitment to Regulatory Compliance Nigeria – The Nigerian National Petroleum Corporation (NNPC) Limited has been awarded the International Ship and Port Facility Security (ISPS) Code Compliance certification by the Nigerian Maritime Administration and Safety Agency (NIMASA). This achievement underscores NNPC’s dedication to process improvement, regulatory adherence, and overall operational…
Oando Plc Records N74.7 Billion Profit in 2023, Bolstered by Strategic Ventures Oando PLC, a frontrunner in Nigeria’s indigenous energy sector, announced a robust N74.7 billion Profit-After-Tax (PAT) in its unaudited financial report for the fiscal year ending in 2023. This impressive figure signals a notable turnaround from the preceding year when the company experienced…
NNPC/SHELL JV Begins Prospect for Oil in Ogun State The quest of Ogun State to become an oil producing State would soon materialize as the Nigerian National Petroleum Corporation Limited (NNPCL) and Shell Petroleum Development Company (SPDC) Joint Venture, set to begin oil and gas exploration in the Gateway State. Major Stakeholders in the nation’s…
Nigeria Unveils CNG Plant in Lagos to Counter Petrol Subsidy Removal Lagos, Nigeria – In a move to ease the impact of petrol subsidy removal and provide alternative fuel options, the Federal Government of Nigeria has commissioned a new Compressed Natural Gas (CNG) plant in Lagos. Key Points: 5.2 mmscfd CNG Plant Launched: The 5.2…
Government Considers Special FX Access for Power Plants to Boost Electricity Supply Nigeria – The Federal Government is exploring ways to provide electricity generation companies (GenCos) with easier access to foreign exchange (forex) for maintenance and operations. This initiative aims to address a critical bottleneck hindering national power generation. Minister Adelabu Announces Initiative: The Minister…
NNPC Uncovers 122 Illegal Refineries in Renewed Drive Against Oil Theft Fuel Station Sealed for Selling Illegally Refined Product In a robust effort to combat oil theft, the Nigerian National Petroleum Company Limited (NNPC) has uncovered 122 illegal oil refining sites across the Niger Delta region in the past week. Additionally, a fuel station in…
