Due to the recent hike in fuel price and the increase in electricity tariff by the Federal Government , the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have vowed to embark on a nationwide protest on Monday, September 28 . The National Executive Council (NEC) of... Read more
The intervention of the leadership of the National Assembly has led to the suspension till April 2021, of the 100 per cent hike in electricity tariff, earlier planned by the Electricity Distribution Companies (Discos) to kick off today. The decision to suspend the tariff hike was reached at a... Read more
Fifteen crew members on board a Maltese-flagged oil tanker have tested positive to COVID-19, and two crew members have been hospitalized, but they are not in a critical condition. The information was confirmed to Offshore Energy-Green Marine by a spokesperson for the Antwerp Port Authority where Minerva Oceania is... Read more
Drop In Oil Prices: NEITI Warns FG, States , LGs
Energy May 12, 2019
The Nigeria Extractive Industries Transparency Initiative,( NEITI) has cautioned the three tiers of government on the need to exercise some restraint in their expenditure profiles and continuous dependence on oil revenues to fund budgets saying persistence in such habits given its volatility was largely unsustainable and would continue to... Read more
NNPC Moves to Reduce Price of Cooking Gas
Energy January 10, 2019
The Nigerian National Petroleum Corporation (NNPC) is planning to stop the export of propane and butane anchored by its Crude Oil Marketing Division to boost supply of LPG to the domestic market thereby leading to a natural downward slide in the price of the product. a framework that would... Read more
FG Gets 7 Days Ultimatum From Oil Marketers over N800bn Subsidy
Energy December 2, 2018
Oil marketers have issued a seven-day ultimatum, demanding the Federal Government to settle their outstanding debts, totaling N800 billion. In a statement the oil marketers stated that they would shut down depots, thus disrupting fuel distribution, should the government fail to comply. The marketers, made up of Major Oil... Read more
FG Loses $2.5bn to Gas Flaring – Expert
Energy October 21, 2018
Nigeria loses about 2.5 billion dollars annually from gas flaring in the country according to Mr Chinedu Onyeizu, Chief Executive Officer, AfriPERA, an Energy and Infrastructure Policy research organization. Onyeizu disclosed this in an interview with the News Agency of Nigeria (NAN) on Sunday, in Abuja. “ Since the... Read more
Oil Price Moves Towards $85 as Iran Sanctions Loom
Energy October 2, 2018
Brent crude oil prices hit their highest level since November 2014 yesterday ahead of U.S. sanctions against Iran. Brent sweet crude oil futures rose to as much as 83.27 dollars a barrel. U.S. West Texas Intermediate crude futures were at 73.57 dollars a barrel. Brent was pushed... Read more
The National Executive Council has mandated the Nigerian National Petroleum Corporation, NNPC, to work with the Ministry of Finance to determine the actual daily consumption of Premium Motor Spirit, PMS, also known as petrol, in the country following the lack of knowledge of the corporation on the issue. ... Read more
The Nigerian National Petroleum Corporation (NNPC), says it has activated measures to ensure that the prevailing stability in the supply and distribution of petroleum products is sustained across the country. The Group Managing Director, Dr Maikanti Baru, said this in a statement issued by the NNPC Spokesman, Mr... Read more
