Idle Russian Crude Oil Refining Capacity Surges The primary oil refining capacity that will be offline in Russia is set to soar by 44% in September compared to August amid seasonal maintenance, according to Reuters estimates based on data from industry sources. As much as 4.635 million metric tons of Russia’s refining capacity is expected…
Gas revenue drops by N3tn in 12 months – Report According to the report, Gas revenue dropped by N3tn in 12 months. The Federal Government, last year, lost the sum of N3.3tn gas revenue last year, as a result of drop in export due to low production, according to data obtained from a global professional…
FG loses N335m to oil spill, says report Nigeria lost about N335m to oil spilled between January and August 2023, according to estimation from data released by the National Oil Spill Detection and Response Agency. NOSDRA, in its oil spill data for the period under review, said a total of 168 incidents of oil spill…
Consumers protest as FG hikes electricity meters price by 40% The Federal Government, on Wednesday, announced an increase in the prices of single-phase and three-phase pre-paid electricity meters, and declared that the hike takes effect from September 6, 2023. It announced this in an order released by the Nigerian Electricity Regulatory Commission with number, NERC/2023/020,…
Military claims its operations saved Nigeria N4bn from oil theft The military high command on Thursday, said its operations across the Niger Delta region denied oil thieves opportunities to steal crude oil estimated at N4bn from the country. The command said within the period under review, over 6.6 million litres of stolen crude oil; 3.5…
SLB to Add $5bn Revenue this Year, Sees Similar Growth in 2024 SLB is on track to add about $5 billion in revenue this year, and sees similar potential for growth in 2024, mainly helped by increased drilling in international markets, CEO Olivier Le Peuch said at a conference on Wednesday. SLB, the world’s…
PENGASSAN Pickets Agip in Port Harcourt over Oando Acquisition Oil workers under the aegis of Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, have picketed the entrance to the Port Harcourt office of the Nigerian Agip Oil Company in protest over the sale of NAOC by Eni, allegedly without due process. The protesting…
Mining Industries In Africa- Deploying Iso 3834 As A Business And Technical Tool To Increase Productivity, Save Cost On Repairs, Attract Investors And Promote Safety Across Africa, there is an increasing urgency for different sectors to embrace competitive processes to improve quality, safety and productivity. Similar to oil and gas, Africa’s mining industry commands…
Why we can’t break NNPCL monopoly on petrol import, by marketers Lack of access to foreign exchange (forex) and price control have forced independent marketers to abandon initial attempts at importation of petrol The inability of the marketers to source and distribute petrol without recourse to the national oil company, has again seen the Nigerian…
Marketers get foreign investors’ backing for 30,000 gas stations Oil marketers, on Sunday, confirmed that they have received the nod of domestic and international financiers to develop about 30,000 gas stations nationwide. It was also gathered that many of the stations were currently being converted to start dispensing gas, following the decision of the Federal…