Lagos — There was palpable anxiety among members of the public yesterday, following a rise in the ex-depot price of petrol by 4.3% to N490 per litre. As a result, some petrol stations have started selling above N500 per litre, N12 higher than the N488 per litre price in the Lagos area. But findings by […]
Tag: Petroleum
There are strong indications that pump price of petrol is expected to record another round of increases, the third within 10 weeks as oil marketers hint that the landing cost of petrol has risen month-on-month, MoM, by 37.4 per cent to N632.17 per litre in July 2023, from N460 per litre in June 2023. The […]
The crises hampering operations in the oil sector linger as Nigerians continue to lament the ripple effect of high pump prices. Five months after the Bola Tinubu administration removed subsidy on petrol, major crises bedeviling the petroleum sector continue with ripple effects on the livelihood of Nigerians. President Tinubu had, in his inaugural address on […]
Nairobi — National Assembly Majority leader Kimani Ichung’wah has dismissed the dossier by Azimio La Umoja One Kenya Leader Raila Odinga on Government-to-Government (G to G) oil deal between Kenya, Saudi Arabia and the United Arab Emirates as hot air. In a quick rejoinder, Ichung’wah argues that Odinga himself acknowledged Kenya’s agreement with Saudi and […]
Kampala, Uganda — Hundreds of environmental and community activists staged peaceful protests at the corporate headquarters of some Chinese banks and insurance firms, as well as Chinese embassies across Africa, Europe and North America today, demanding those institutions commit not to support further development of the controversial East African Crude Oil Pipeline (EACOP). Actions have […]
The current administration of Bola Ahmed Tinubu, has made promises to bring more foreign investments into Nigeria. The president has been travelling the world to attract foreign direct investment and to inject much-needed forex into the country’s struggling economy. In addition to this, the government has designed significant reforms to put the country on a […]
On January 15, 2025, the Nigerian National Petroleum Company Limited (NNPCL), the formerly government-owned corporation, which transformed to a limited liability company in July 2022, but still owned by the government, launched a tender seeking potential private company operators to manage the Port Harcourt Refining Company (PHRC). Rehabilitation work has been ongoing at the refinery […]
On Easter Monday, the Nigerian Midstream and Downstream Petroleum Regulatory Authority announced the establishment of the year 2024 Domestic Base Price and applicable wholesale price on natural gas for the strategic sectors. The announcement saw an increase in the price of natural gas for the strategic domestic sectors including power generation companies by 11 per […]
Says addressing crude oil theft, sabotage major concern of govt Vice President Yemi Osinbajo has declared that tackling crude oil theft and sabotage remains a major concern of the Federal Government saying those in charge must be accountable because, besides economic consequences, institutional and personal reputations are at stake. Speaking Tuesday in Abuja as a […]
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Namibia to Pocket Oil Billions After 2030
Oil and gas exploration in Namibia are the talk of the global town, following significant discoveries in the offshore Orange Basin last year, which is creating expectations of massive future government oil revenue. But a leading Namibian wealth management outfit said Namibia will only reap the rewards of these discoveries in a few years. Oil […]
Founder and Chief Executive Officer of Hyde Energy Limited, a downstream oil and gas company, Mr. Oladimejj Edwards, has attributed the high cost of Liquefied Petroleum Gas (LPG), popularly known as cooking gas, to the inadequate supply, storage, and distribution infrastructure as well as scarcity of dollars in the market. Edwards, also called on the […]
The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr. Gbenga Komolafe has given kudos to President Muhammadu Buhari over his swift response in resolving the regulatory overlap between the Commission and the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The NUPRC chief executive stated these yesterday, during an interview on […]
Despite the global clamour for decarbonization and energy transition, oil and gas remain relevant in the global energy mix, an official said. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said it has thrown its doors open to potential investors who wish to collaborate in building partnerships and unlocking the full potential of Nigeria’s upstream petroleum […]
Despite the widespread outcry trailing the removal of fuel subsidy in the country, the Nigerian National Petroleum Company Limited, (NNPCL) has insisted there will not be a reversal of the policy as there is no cash back-up to offset the subsidy payment for the month of June. Group chief executive officer of NNPCL, Mele Kyari, […]
President Bola Tinubu should resist the temptation to flood his administration with political associates and identify competent Nigerians, irrespective of party, religious and tribal affiliations, to form a government that can deliver urgently needed services to Nigerians, former presidential candidate of African Democratic Congress, ADC, Dumebi Kachikwu, has said. Kachikwu, who gave the advice in […]
Taxi drivers, street vendors and youth activists have been demonstrating against rising fuel prices, the suppression of street vending and new regulations for NGOs. The state’s response have been a heavy-handed one. A wave of demonstrations across Angola has been triggered by a government decision to cut subsidies for petrol amid plunging oil prices. The […]
Political leaders hope to assuage investors’ security concerns, which have held up natural gas extraction in Cabo Delgado. The presidents of Mozambique and Rwanda have been making victory speeches about the Cabo Delgado insurgency being almost over. They are creating the impression that al-Shabaab is close to being defeated, and that citizens and investors can […]
African Democratic Congress (ADC) presidential candidate in the 2023 elections, Dumebi Kachikwu, has stressed the need for effective measures to combat theft and vandalism of oil pipelines. Referencing President Bola Ahmed Tinubu’s “Renewed Hope Agenda,” Kachikwu acknowledged Tinubu’s commitment to addressing the challenges and expanding oil and gas production. As the new leader of the […]