Nigerian National Petroleum Corporation meets its financial obligation to the country, remits N1.26 trillion to the federation account THE Nigerian National Petroleum Corporation, NNPC, said it met its financial obligations to the Federation Account in 2018 by remitting N1.26 trillion as against the N1.22 trillion projected in the 2018 budget, recording a surplus of N41billion. Managing Director…
ZIMBABWE’S energy regulator on Tuesday announced that prices of diesel and petrol had been increased by up to 47 per cent. The hike which took immediate effect had come a day after the central bank said oil firms would now buy dollars to import fuel on the interbank market. The price of petrol has increased to RTGS$4.97, up from…
THE Director-General of the Nigerian Maritime Administration and Safety Agency, NIMASA, Dr. Dakuku Peterside, has said that Nigeria is way overdue for an active national fleet that will properly position it in the comity of maritime nations. Dakuku stated this in Lagos when he played host to members of the National Fleet Implementation Committee (NFIC)…
Ondo Community demands $2.5 billion compensation from Chevron Nigeria Limited over fire incident in oil well THE affected communities in Ondo State is demanding $2,5 billion form Chevron Nigeria Limited as compensation for damages incurred in the aftermath of the fire that erupted from an oil well belonging to the company. The fire incident,…
The Nigerian Navy says the country loses N163.17 billion to pipeline vandals in Niger Delta NIGERIA has lost N163.17bn in oil revenue to the activities of pipeline vandals in the Niger Delta region between 2012 and 2017, according to statistics presented by the Nigerian Navy on Wednesday. The Navy said its operatives destroyed 637…
Armed conflict between groups vying for control of Libya is putting the country’s lifeblood oil and gas industry at risk of almost total collapse, just as production is beginning to recover from years of war, the head of the country’s state oil company said Saturday. Libya is currently pumping almost 1.3 million b/d, National Oil…
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, yesterday said in Jeddah, Saudi Arabia, that he hoped the crude oil supply cut agreement between the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC members would be extended until the end of 2019. OPEC, Russia and other non-OPEC producers, an alliance known as OPEC+,…
A consortium of foreign lenders is ready to invest $600 million in the construction of a 1,500 megawatts (Mw) power plant in Okija, Anambra State, the Chief Executive Officer, Century Power Generation Limited, Dr Chukwueloka Umeh, has said. The banks are to provide the funds, once the firm is ready with the predocumentation required for…
Ahead of the 2019 World Environment Day (WED) celebration, which amplifies the clamour for players in the petroleum industry to curb the rising level of global air pollution, Nigeria Liquefied Natural Gas (NLNG) Limited has declared over $100 billion or N36 trillion gross income from gas monetisation. The Managing Director of the company, Mr. Tony…
People of Kebbi State have been called upon to avail themselves of the power franchise arrangement about to commence in the state by the Kaduna Electricity Distribution Company soon. Speaking at the Stakeholders meeting with Local Government Council Chairmen in Birnin Kebbi, the Chief Franchising and Special Customers Officer, Murtala Bello, said franchising is aimed…
