Energy

Major developments in Nigeria’s power sector in 2024

Global Oil Price rises to $74.80/barrel on first day of trade in 2025

Obasanjo reveals how NNPC rejected Dangote’s $750 million offer for Port Harcourt, Kaduna refineries in 2007

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Energy

Oil & Gas and Power Sector related news

Widespread interest as over 300 companies apply for the marginal oil field bid

June 22, 2020

Over 300 companies have applied to be prequalified for the Nigerian Marginal Field Bid Round.

Seplat transforms to full-fledged holding company, transfers oil assets to subsidiary

June 20, 2020

The new arrangement is expected to result in a simplified management framework for the Group.

Hike in electricity tariff inevitable, as FG introduces a new policy, Power sector loses N19.15 billion to gas shortages, transmission infrastructure challenges, Second largest hydro power project in Africa to finally take off after settlement of legal dispute

Minister of Power states the impact of COVID-19 on power sector

by Abiola Odutola

June 17, 2020

This year shall be a big year for infrastructural investments and upgrades in the sector.

FG appoints Eweluka as NBET MD, as finance, power ministers wrestle

by Abiola Odutola

June 16, 2020

Eweluka would succeed Dr Marilyn Amobi as substantive CEO with immediate effect.

Mele Kyari, NNPC, NNPC spends estimated N33.60/litre on petrol subsidy, NNPC vows to be transparent, set to publish details of petroleum product supplies , OML 119: NNPC record 14 bids for development of oil well, This NNPC initiative aims to solve the problem of tanker explosions , Fluctuations of oil price threatening Nigerian content development — NNPC , Lagos pipeline leak contains water, not petrol- NNPC, NNPC gives condition for relocation of tank farms and depots from residential areas , NNPC to cultivate 2,675 hectares of cassava for Ethanol production, Key performance highlights of NNPC for 2019 FY

Petrol supply drops by 21%, NNPC gives reasons for high production cost

June 16, 2020

There is a need for efforts to be geared to pull the cost of producing a barrel of crude.

Senate president warns about dangers of youth unemployment, National Assembly to ensure youth empowerment schemes are realized - Lawan

Senate to review 2013 power privatisation, questions FG’s funding

by Abiola Odutola

June 15, 2020

Government should not be given free money. N1.8 trillion has been given to DISCOs maybe in their books.

Fuel scarcity never left; despite fuel supply efficiency claims by NNPC

NNPC releases audited financial statements, refineries record losses of N154 billion

June 15, 2020

The NNPC also published the audited accounts of its 20 subsidiaries and business divisions.

FG to give up majority stakes in its 4 refineries, to be privately managed, NNPC, Pipeline Vandalism: Stakeholder collaboration, critical to tame menace - Kyari, Nigeria explains when it will fully comply with OPEC+ output cut

NNPC, partners to invest 53% of COVID-19 N21 billion intervention

by Ruth Okwumbu-Imafidon

June 12, 2020

NNPC and partners would be investing 53% of the N21 billion COVID-19 donations from the oil and gas sector.

CRUDE OIL, U.S Shale, Naira under pressure, as crude oil hits $25 per barrel, Oil Price: A dead cat bounce in the making?, Bears tear Crude oil futures into shreds as Brent slumps more than 20%

Oil prices hit the biggest daily decline on COVID-19 resurgence, inventories

June 12, 2020

This year has been a turbulent one for the oil market as crude oil prices went negative for the first...

Solar, FG to slash import duties on tractors, buses, others in 2020 Finance Bill, Nigeria will not issue Eurobonds, says Vice President Yemi Osinbajo, FG guarantees mortgage loan to low income buyers at low interest rate, FG inaugurates gold refinery project in a landmark event

FG inaugurates gold refinery project, boosts smaller-scale mining operations