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Author Archives: admin

PIB Must Increase Nigeria’s Energy Consumption Appetite – Prof Ilebare

……..by James Ikenna……… The Professor of Petroleum Economics, Wunmi Iledare has called on the Federal government to use the Petroleum Industry Bill that is at work now at the National Assembly as catalyst to bring about the emergence of energy intensive industries. Iledare who is also the Ghana National Petroleum Corporation (GNPC) Professorial Chair in Oil and Gas Economics and ...

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AfCFTA: FG Repositions Oil and Gas Sector to Make Nigeria a Refining Hub

………by Jenifer Dike…….. The Federal Government is repositioning the nation’s oil and gas sector to become Africa’s hub for refined petroleum products. The Minister of State for Petroleum Resources, Timipre Sylva says it will leverage the opportunities provided by the African Continental Free Trade Area Agreement (AfCFTA) to reposition the Nigerian oil and gas sector. Sylva said this action would ...

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FG Inaugurates Two LNG Plants In Kano

The Minister of State for Petroleum Resources,Timipre Sylva, on Tuesday inaugurated two Liquified Natural Gas (LNG) plants in Kano State to enhance power supply for industrial development. Designed to enhance gas and power supply to industries in the state,the LNG regasified facilities were erected by the Greenville LNG Company at Mamuda Agro and Allied Products Nigeria Ltd and ASPIRA Nigeria ...

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Chevron Contributes N7bn to Fund Projects in Delta Ijaw Communities

Chevron Nigeria Ltd. (CNL) says it has contributed over N7 billion, under NNPC/Chevron Joint Venture, to the Egbema and Gbaramatu Communities Development Foundation (EGCDF) since its creation in 2005. Mr Esimaje Brikinn, the General Manager, Policy, Government and Public Affairs (PGPA) of CNL, made this known on Tuesday at the 10th Annual General Meeting of EGCDF in Effurun near Warri. ...

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IPMAN Urges Members to Comply with New PMS Pump Price

Alhaji Suleiman Yakubu, National Public Relations Officer, Independent Petroleum Marketers Association of Nigeria (IPMAN), has urged marketers to comply and sell at the new pump price of N162.44. The Federal Government has agreed with the organised labour unions to reduce the pump price of Petroleum Motor Spirit (PMS) by N5 with effect from Dec. 14. Yakubu, who disclosed this in ...

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LEKOIL in Talks with Optimum over Obligations

LEKOIL has confirmed that it is currently in talks with Optimum Petroleum Development Company, the Operator of the OPL 310 Licence over its share of sunk costs and consent fees which fell due on November 30. Optimum had conveyed its plan to enforce a default clause to Lekoil in a letter as payments to cover the portion of sunk costs ...

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Oil Marketers Dismiss Reduction, as FG Denies Price Fixing

……MOMAN and DAPPMAN demand access to forex……. ………..Ben Ndubuwa……… Oil Marketers have described as confusion the purported reduction of the price of Premium Motor Spirit (PMS) otherwise know as petrol saying that such reduction never existed. They said no pump prices have been fixed in the last few months. “So what price are you reducing N5 from. What are the ...

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Dadin Kowa 60 MW Capacity Power Plant Added to National Grid

Dadin Kowa 60 Megawatt hydropower plant has been added to the national grid. This brings the number of hydropower plants producing electricity in Nigeria to four The Dadin Kowa Hydropower Plant, located in Gombe State, has an installed generation capacity of 60 megawatts, data obtained from the Nigerian Electricity System Operator on Sunday showed. The NESO data showed that the ...

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Rainoil Wins 2020 Downstream Company of the Year Award

Rainoil Limited, an integrated oil and gas company operating in the downstream sector, has won the 2020 Downstream Company of the Year Award at the Nigerian Business Leadership Awards (NBLA) 2020 hosted by Businessday Newspapers. The Group Managing Director, Rainoil Limited, Dr. Gabriel Ogbechie, said the award is an acknowledgement of the group’s consistent focus on “strategic and value-driven investments” ...

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NLNG Signs MoU with Bonny Kingdom , Julius Berger for Historic Bonny Consulate

Nigeria Liquified Natural Gas Limited (NLNG) on Friday signed a Memorandum of Understanding with Bonny Kingdom and Julius Berger Nigeria Limited (JBN) for the reconstruction of the Bonny Consulate Building, a 19th century historic landmark in Bonny Kingdom. The MoU was signed in Bonny by NLNG’s Managing Director/Chief Executive Officer, Engr. Tony Attah on behalf of the company and JBN’s ...

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