Nigerians pay more for diesel, kerosene rise in January – NBS

Prof. Yemi Kale, DG, National Bureau of Statistics The National Bureau of Statistics (NBS), said the average prices paid by consumers for kerosene and diesel increased in January 2019. The price of kerosene increased month-on-month (MoM) by 5.35 percent to N306.28 per litre last month from N290.74 in December 2018 while the price of diesel rose MoM More...

by Felix OLOYEDE | Published 4 days ago
By Felix OLOYEDE On Friday, February 15th, 2019
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Oil prices hit $65 amid OPEC cuts

Brent crude oil prices hit 2019 highs above $65 per barrel on Friday, spurred by OPEC-led supply cuts and a partial shutdown of Saudi Arabia’s biggest offshore oil field. Brent rose as far as $65.10, pushing past More...

By Felix OLOYEDE On Thursday, February 14th, 2019
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Nigeria’s crude oil production drops to 1.999m bpd

Nigeria’s crude oil production including condensate has taken a dip, falling to 1.999 million barrels per day in January from 2.081 million bpd in December, figures from the Ministry of Petroleum Resources has More...

By Felix OLOYEDE On Friday, February 1st, 2019
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Nigeria’s electricity generation increases by 1,811.3mw

The Federal Government recorded an increase of 1,811.3 megawatts (MW) in power generation in January 2019, as the Transmission Company of Nigeria (TCN) transmitted 127,157.7mw as against 125,346.4mw in December More...

By Felix OLOYEDE On Thursday, January 31st, 2019
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FG unveils ‘project 100’ to support indigenous oil&gas companies

Dr. Ibe Kachikwu, Minister for State, Ministry of Petroleum Resources No fewer than 60 indigenous oil and gas companies are to benefit from the federal government’s business intervention Project called “Project More...

By Felix OLOYEDE On Tuesday, January 29th, 2019
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Sanctions on Venezuela’s oil firm sends U.S. refiners scrambling

Venezuela’s revenues from oil sales to the United States have come under severe threat as sweeping sanctions on Venezuelan state-owned oil firm has sent U.S. buyers scrambling for replacements. The United States More...

By Felix OLOYEDE On Tuesday, January 29th, 2019
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Buhari Assures Abia Residents of constant power supply

President Buhari President Muhammadu Buhari has assured residents of Abia State 24-hour power supply. The President stated this on Tuesday when he visited the state capital to inaugurate the Ariara Market Independent More...

By Felix OLOYEDE On Tuesday, January 29th, 2019
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Stakeholders blame lack of infrastructure, commitment as setback for gas-to-power projects

Stakeholders at the ongoing Nigerian International Petroleum Summit (NIPS) in Abuja have identified the dearth of infrastructure and commitment as the major challenges facing gas-to-power projects in the country. They More...

By Felix OLOYEDE On Friday, January 25th, 2019
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Samsung invests $400m in Nigerian oil&gas sector

Samsung Heavy Industries (SHI) has disclosed it has invested over 400 million dollars in the Nigerian oil and gas industry since the global shipbuilding giant was awarded the contract to build the Floating Production More...