The Nigerian government through the Department of Petroleum Resources (DPR) has revoked the four oil licences belonging to Chinese-owned oil firm, Addax Petroleum Development Nigeria Limited, a development that continues to breed uncertainties in Nigeria’s oil
Nigeria and other Organisation of Petroleum Exporting Countries (OPEC) has agreed to increase oil production gradually from May to July, responding to both internal and external pressure to supply more crude to the recovering global economy.
Rebounding oil prices, increasing exploration activities and a more strategic approach from shale oil producers in the United States (US) are reopening 2014 scars for Nigeria and some of the biggest oil producers in the world, as they seek to support prices and reduce oversupply
The Federal government on Wednesday approved Nigeria’s contribution of $2 million to the 2020 budget of the West African Power Pool (WAPP).
Electricity customers have accused power distribution companies (DisCos) of charging increased tariff despite its suspension by the Nigerian Electricity Regulatory Commission (NERC).
The management of Egbin Power plc has said that the electricity generating company will spend about $40million to overhaul its two units.
The Nigeria LNG Limited (Nlng) says it has paid over $18.3 billion to the Federal Government as dividend through its shareholding in Nigerian National Petroleum Corporation (NNPC) in the last 20 years.
The Department of Petroleum Resources, DPR, has released guidelines for the establishment and operations of downstream gas facilities across the country. This is coming days after the gas explosion at Baruwa, Ipaja, Lagos, which claimed several lives and destroyed over 20 properties.
Nigeria’s revenue from Liquefied Natural Gas (LNG) sale may be impacted as Japan, is pouring money into research and development of hydrogen fuel to secure energy independence.
President Muhammadu Buhari has justified the present increase in the price petrol saying there is no justification on why Nigeria’s petrol price should be cheaper than Saudi Arabia and Egypt in his independence speech Thursday morning.