Petrol may hit N350 as FG signs Petroleum Industry Bill 2021 into law
President Muhammadu Buhari from self isolation assented to the Bill Monday August 16, in his determination to fulfill his constitutional duty after the National Assembly has passed the Bill. In a statement, Presidential aide, Femi Adeshina disclosed that the ceremonial…
Nigerians using 22m generators due to poor electricity, says Seplat
Leading oil and gas group, Seplat has said that an estimated 22 million small generators in households use and MSMEs in Nigeria. Operations Director/Executive Director, Selattyn Energy Plc, Mr. Effiong Okon, stated this during a panel session at the 44th…
Power producing communities meet BPE, demand 10% royalty
The Hydroelectric Power Producing Areas Development Commission, a body comprising host communities of hydropower plants, on Wednesday met the Bureau of Public Enterprises to demand 10 per cent royalty payment from the concession of the plants. Managing Director, HYPPADEC, Abubakar…
Ghana beats Nigeria, transports most fuel through barges, pipelines than road
At a time the Government of Ghana has moved away from the dangerous mode of petroleum products haulage on roads to barges and pipelines, Nigeria is still using roads as means of moving products. Business Hilights Ghana Bureau Chief reports…
Dangote Refinery an inspirational scheme to private sector—Tinubu
As efforts are being intensified for the imminent completion of the multi-billion dollars 650,000bpd Dangote Refinery in Lagos, the project has been described as an inspiration to private sector operators in the country. Excited at the share humongous size of…
Oil slips but heads for steady week on supply tightness
Oil prices trimmed overnight gains on Friday but were poised to end the week largely steady after rebounding from a sharp drop, underpinned by expectations supply will remain tight as demand recovers. Brent crude futures fell 7 cents, or 0.1%,…
Cooking gas price climbs to N500/kg, consumers cry out
…As FG remain mute on consequences The price of Liquefied Petroleum Gas, also known as cooking gas, has jumped almost beyond the reach of many Nigerians to a record high of N500 per kilogramme. Accordingly, many households both in rural…
Gas flaring cost Nigeria N53.26bn in two months – NNPC
Fresh data obtained from the Nigerian National Petroleum Corporation (NNPC) has revealed that the economy lost an estimated N53.26bn in the first two months of this year as international oil companies and local players flared a total of 33.04 billion…
Another look at the LNG’s Train 6 & 7
When the Liquefied Natural Gas, LNG, Train 6 was completed in 2008, close observers had anticipated that Nigeria would immediately go ahead with the construction of Train 7, expected to increase the LNG output to 30 million metric tonnes, MT…
Upon free rail line to Maradi, Niger mock Nigeria, route oil pipeline via Benin
Barely less than three months the Minister of Transportation, Chief Rotimi Amaechi, ‘begged’ the government and people of Niger Republic to be given free construction standard gauge rail line from Nigeria to their major city of Maradi, instead of reciprocating…
