Energy
Oil & Gas and Power Sector related news
NNPC records 43% drop in pipeline vandalism in May
Mosimi-Ibadan pipeline axis accounted for 38% of the vandalized points.
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FG increases fuel pump price to N138.62 per litre
Kerosene would be sold for N160 at depots and diesel is set at N160 per litre in Lagos.
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Biggest oil trader, Vitol, in record compensation, pays over $6 million each to top employees
The share buyback which is Vitol’s main way of rewarding its top employees.
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Malabu Scandal: Shell writes down OPL 245 License
The company also announced that its upstream division had losses of $6.7 billion
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FG approves N8.64 billion for Phase 1 of Presidential Power Initiative
Phase 1 of the PPI includes projects in transmission, distribution, metering, simulation & training.
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Oil prices drop as market reacts to rising COVID-19 cases, US-China tension
Despite the drop, Brent crude is still expected to experience its fourth monthly gain in July.
Read moreDetailsNNPC cultivates 2,675 hectares of cassava for Ethanol production
Ethanol is a biofuel processed from starchy crops like Maize and Cassava.
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Senate says agreement with Azura power plant is a drain on nation’s resources
The recommendations were presented by Chairman of the Committee, Sen. Gabriel Suswam during plenary.
Read moreDetailsNNPC gives condition for relocation of tank farms and depots from residential areas
Kyari advised some time be allowed to achieve the full rehabilitation of the refineries before relocation.
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AfDB to provide $400 million of $16 billion in largest private investment in Africa
When the project is completed total expects Mozambique to earn up to $50 billion in Natural gas
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