Nigeria’s average daily crude oil production has fallen again below the quota allocated by the Organisation of the Petroleum Exporting Countries. Oil production figures released by the Nigerian Upstream Petroleum Regulatory Commission showed that the country’s crude production fell to approximately 1.47 million barrels per day in February, down from 1.54mbpd in January. Nigeria’s OPEC…
The agreement is for the supply of natural gas to its planned LNG plant in the Lekki Free Trade Zone, Lagos State Managing Director, NNPC Gas Marketing Limited, NGML, Justin Ezeala and CEO of Ssonic Petroleum Ltd, Ifeoma Douglas, sign an 80mscf gas supply agreement for the proposed LNG plant in Lekki FTZ. A subsidiary…
The Nigeria Midstream and Downstream Petroleum Resources Authority has issued refining licenses to three companies to build new refineries in Abia, Delta, and Edo States. The three proposed refineries are expected to have a combined refining capacity of 140,000 barrels per day. According to an X post by the NMDPRA on its official page, the…
The PETAN Board, led by its Chairman, Engr. Wole Ogunsanya FNSE, has presented the Abia State Governor, H.E. Alex Otti with the Certificate of Incorporation of the Government of Abia State and PETAN Joint Venture Company, ABTAN Energy, even as discussions on oil exploration and production birthing the new company continues. Governor Otti, who played…
The PETAN Board, led by the Chairman, Engr. Wole Ogunsanya FNSE, has presented the Abia State Governor, H.E. Alex Otti with the Certificate of Incorporation of the Government of Abia State and PETAN Joint Venture Company, ABTAN Energy, even as discussions on oil exploration and production birthing the new company continues. Governor Otti, who played…
Higher exports and increased demand from the huge new African refinery, Dangote, pushed Nigeria’s oil production in February 70,000 barrels per day (bpd) above its OPEC+ quota of 1.5 million bpd, a Reuters survey showed. Last month, Nigerian production exceeded its quota in the OPEC+ agreement by the most among all participants. The rise in…
Lagos State has officially taken control of its electricity market following the transfer of regulatory oversight from the Nigerian Electricity Regulatory Commission (NERC) to the Lagos State Electricity Regulatory Commission (LASERC), in a groundbreaking development for Nigeria’s electricity sector The formal announcement was made during a landmark event held at NERC’s headquarters in Abuja, attended…
The Nigerian National Petroleum Company Limited (NNPC Limited) and FIRST Exploration & Petroleum Development Company Limited (FIRST E&P) Joint Venture (JV) have confirmed a significant hydrocarbon discovery in the Songhai Field, located in OML 85. The well was spudded on November 18, 2024, as part of efforts to increase and sustain the JV’s oil production…
This was revealed in a memo from the Office of the Accountant General of the Federation, dated February 28, 2025, The new platform, named Treasury Management & Revenue Assurance System, is designed to streamline and manage federal revenue collections and payments across ministries, departments, and agencies, including those benefiting from donor funds, trust funds, social…
Nigeria’s leading indigenous energy company, Seplat Energy Plc, has attributed its exponential growth over the years to well thought-through strategies, strong governance practice and dedicated people, stressing that the quest to develop Nigeria and the support from the Nigerian government remain very cardinal. The Chief Executive Officer, Seplat Energy, Mr. Roger Brown, said this whilst…
