A grim picture of the oil and gas industry has been painted by  Nigerian National Petroleum Corporation (NNPC) boss Dr Maikanti Baru. The  Group Managing Director said cash call underfunding had hit $2.5 billion. Besides, vandalism has contributed to the biting recession, according to him. Baru spoke at the... Read more
Oil prices rose to the highest since August and traded above $50 a barrel yesterday, following optimism surrounding the new oil production deal by the Organisation of Petroleum Exporting Countries (OPEC). The body agreed in Algeria recently to cap production at not more than 33 million barrels per day.... Read more
Why Marketers Shun Fuel Importation
In spite of the hike in pump price of premium motor spirit (PMS) or petrol to N145 per litre from N87, the Nigerian National Petroleum Corporation (NNPC) still retains its status as the sole importer of the product. The Executive Secretary, Major Oil Marketers Association of Nigeria (MOMAN), Mr.... Read more
‘Coal to Serve as Alternative Source of Energy’
The Minister of Solid Minerals and Mining, Dr. Kayode Fayemi, has said Nigeria will soon be using coal as an alternative source of energy. Fayemi, who spoke when the Executive Director of a Non-Governmental Organization, CSR-in-Action, Bekeme Masade, led a team of civil society organisations on a visit to... Read more
Power Generation Now  3,277MW
The Nigeria Electricity System Operator (SO) on Tuesday said that the power producers at 06.00 hours generated 3,277 Mega Watts (MW). According to its power performance for Monday production, SO note that the peak generation for the day under consideration was 3,886.50MW while lowest power generation was 3,009MW. It... Read more
The Energy International Administration, the statistical arm of the United States’ Energy Department, has said that Nigeria’s crude oil production will remain depressed through 2017 as a result of militant attacks,. The EIA, in a statement on its website, said the crude oil production disruptions in Nigeria reached 750,000... Read more