“China now faces up to a 245% tariff on imports to the United States as a result of its retaliatory actions,” the White House said, justifying the decision under national security grounds.The confrontation has rapidly intensified since the US imposed 145% tariffs on Chinese goods earlier this month. China hit back with 125% tariffs on…
The Organisation of the Petroleum Exporting Countries on Monday slightly cut its forecast for oil demand growth, citing the impact of US tariffs on the world economy. A report by Reuters quoting the OPEC Monthly Oil Market Report for April said the Secretariat now sees demand growing by 1.3 million barrels per day in 2025,…
The Federal Government has disclosed ongoing plans to settle over N4 trillion owed to Power Generation Companies (GenCos) for electricity generated and supplied to the national grid. Mr. Bola Tunji, Special Adviser on Strategic Communications and Media Relations to the Minister of Power, made this known in Abuja during an interview with the News Agency…
The Federal Government has issued 47 Licenses to Establish (LTE) and 30 Licenses to Construct (LTC) refineries in one year. The move, according to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) marks a significant step towards enhancing Nigeria’s refining capacity and boosting petroleum products availability. Its Chief Executive Officer, Farouk Ahmed, disclosed this…
Group Chief Executive Officer of NNPC Limited, Bayo Ojulari, has announced that the $2.8 billion Ajaokuta-Kaduna-Kano gas pipeline project has reached 72 percent completion stage as of the end of the first quarter of 2025. According to Ojulari, who spoke at the 2025 Oloibiri Lecture Series and Energy Forum organized by the Society of Petroleum…
Seplat Energy Plc has announced a major milestone in its contribution to Nigeria’s gas development, revealing that it has installed over 850 million standard cubic feet per day (MMscfd) of gas infrastructure across the country to address domestic supply needs. The company’s Chief Operating Officer, Mr. Samson Ezugworie, disclosed this during a press briefing on…
The Federal Government has signed a $328.8 million contract with Chinese firm, China Machinery Engineering Corporation (CMEC), to rehabilitate and expand Nigeria’s electricity transmission network under Phase 1 of the Presidential Power Initiative (PPI). The agreement covers Engineering, Procurement, Construction, and Financing (EPC+F) for the development of 330kV and 132kV transmission lines across the country,…
Following the constant power outages occasioned by the incessant grid collapses, six firms and one private university have got the approval of the Nigerian Electricity Regulatory Commission to generate and distribute electricity. The firms, including Nile University of Nigeria in Abuja, will be allowed to generate up to 30 megawatts of electricity under various arrangements….
As part of efforts to enhance safety and streamline the identification of petroleum product transportation, the Federal Government has issued a directive mandating truck owners to paint their vehicles in distinct colours corresponding to the products they carry. This directive, given by the Nigerian Midstream and Downstream Petroleum Regulatory Authority in partnership with the unified…
Officials of the Ogun State Government and community leaders hailed Shell Nigeria Gas (SNG) and NNPC Gas Marketing Limited (NGML) for their partnership in the reconstruction of a key community road that was commissioned on Thursday (April 3) in Ado – Odo Otta Local Government Area. The 4.5km Ilogbo road provides access to some 75…
