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…Says 30-Days PMS Sufficiency Intact As the nationwide supply and distribution of Premium Motor Spirit (PMS), also known as petrol, continue to improve, the Nigerian National Petroleum Company (NNPC) Limited has once again called on motorists to shun panic buying of the product. In filling stations monitored across several states, including Lagos and the FCT, the queues have since thinned ...

………by Ben Ndubuwa……Shell has paid a total of $1.09 billion in corporate taxes and royalties to the federal government of Nigeria in 2023 through the operations of The Shell Petroleum Development Company of Nigeria Ltd (SPDC) and Shell Nigeria Exploration and Production Company of Nigeria Ltd (SNEPCo.). The figures, announced in the just published 2023 Shell Briefing Notes, show that ...

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) will showcase its 2024 licensing round at a dedicated “Invest in Nigeria” session at the Invest in African Energy forum in Paris next week. Responsible for the technical and commercial regulation of upstream petroleum operations in Nigeria, the Commission will unveil its energy development strategy for 2024, including its latest licensing round launched ...

………by Ben Ndubuwa…… The Nigeria Electricity Regulatory Commission (NERC) has frown over any form of contractual breaches and is taking fresh steps to eliminate exploitation within the electricity industry especially in the international and bilateral contracts. The Commission is said to have observed exploitation and practices that is not healthy within the contacts execution. To address the anomaly, the NERC, ...

………..by Ben Ndubuwa….Oando, one of the indigenous oil and gas company, has projected that it would up its crude production to 50,000 barrels per day and target 100,000 barrel per day in four years time an oil equivalent after the conclusion of the landmark deal with Eni. Alex Irune, Oando’s Chief Operating Officer, told S&P Global Commodity Insights at the ...

……….by Ben Ndubuwa……..Transnational Corporation Plc (“Transcorp” or the “Group”), Nigeria’s leading, listed conglomerate with investment in the Power, Hospitality, and Energy sectors, has posted an impressive first quarter (Q1) financial results for the period ended March 31, 2024.with revenue of N88.6 billion about 173 percent higher than 2023 revenue of N32.4 billion This impressive results are largely driven by a ...

Photo : L-R: Publisher, The Niche Newspaper, Ikechukwu Amaechi; General Manager, Finance, Seplat Energy Plc, Adetaiwo Osindero; Manager Corporate Communications, Stanley Opara; and Associate General Counsel Corporate & Compliance, Adebowale Eboda, at the Daily Independent Newspaper Awards, where Seplat Energy was name as the Indigenous Oil & Gas Company of the Year, held in Lagos … recently. Seplat Energy Plc ...

………by Ben Ndubuwa……Ikeja Electric Distribution Company (IE) has announced a slight reduction of its electricity tariff by 8.1 percent for customers under Band A from N225/kWh to N206.80/kWh. In a circular signed by the management of the company on Monday, IE said the customers will now pay N206.80/kwh, rather than the stipulated N225/kwh ordered by the Nigeria Electricity Regulatory Commission ...

Shell Nigeria Gas and the Oyo State Government have signed an agreement to develop a gas supply and distribution infrastructure that will deliver gas to industrial and commercial users in the state. A statement released on Friday by Shell Nigeria’s Media Relations Manager, Abimbola Essien-Nelson, disclosed that SNG will build and operate the gas distribution network which will serve customers ...

……..By Ben Ndubuwa…….. The Nigeria Electricity Regulatory Commission (NERC) splits the Transmission Company of Nigeria (TCN) into two and orders the creation of a new firm.  This new private company will be known as Nigerian Independent System Operator of Nigeria Limited (“NISO”). According to NERC this new company should be established at the end of this month. “BPE shall incorporate, ...