Oil companies in Nigeria are to undergo a new licensing round, as the Federal Government yesterday, stated that it plans to separate…
Category:
Oil and Gas
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Nigerian Extractive Industry Transparency Initiative, NEITI, Monday, indicted the Federal Government for the high rate of corruption in the hydrocarbon sector of…
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Oil eased toward $66 a barrel yesterday after reaching a 2015 high, as ample current supplies and weak Chinese factory activity countered…
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The forensic audit conducted by PWC on NNPC to ascertain the veracity of the alleged missing $20 billion from the Federation account…
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Major oil marketers have warned that fuel scarcity may linger for a while as the federal government has not paid what it…
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The Federal Government, yesterday, cut down the importation of premium motor spirit, also called petrol, by 50 per cent for the period…
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In its determination to deepen the development of the renewable energy, the African Development Bank, AFDB, has offered to provide a support…
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Federal government of Nigeria has reduced electricity tariff by over 50% with just days to the presidential elections, which is expected to…
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The Republic of Cote D’ Ivoire has signaled its intention to procure Liquefied Natural Gas (LNG) supplies from Nigeria in support of…
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BusinessEconomyFinanceNewsOil and Gas
PIB: Senate committee proposes privatisation of refineries in two years
The Senate Joint Committee on the Petroleum Industry Bill, PIB, yesterday, disclosed that it has finished working on the Bill and is…
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BusinessEconomyNewsOil and Gas
Indigenous consortium to build two separate 1000MW plants in Nigeria …Plans to train and engage 74,000 youths
A consortium led by FirstGate Group has signed a Memorandum of Understanding, MoU, with the Federal Government to build two separate 1,000MW…
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Seplat Petroleum Development Company Plc, Thursday, said it has acquired Chevron Nigeria Limited’s 40 per cent stake in Oil Mining Lease 53…
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BusinessEconomyFinanceNewsOil and Gas
Forensic audit indicts NNPC, NPDC for non-remittance of $1.48bn
The Nigerian National Petroleum Corporation, NNPC, and the Nigerian Petroleum Development Company, NPDC, have been indicted by the PriceWaterHouse Coopers’ (PWC) forensic…
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Oil prices fell on Wednesday after a new build in U.S. crude stock levels put a global glut back in focus. U.S.…
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BusinessEconomyFinanceNewsOil and Gas
Diesel price cannot be reduced under current exchange rate — MOMAN
The Major Oil Marketers Association of Nigeria (MOMAN) on Friday said that the pump price of diesel can not be reduced, until…