The Federal Competition and Consumer Protection Commission has urged the Federal High Court in Abuja to allow it to join the N100bn lawsuit filed by Dangote Petroleum Refinery seeking to stop the Nigeria National Petroleum Company Limited and oil marketers from importing refined petroleum products into the country. But Dangote Refinery opposed the FCCPC’s application…
The NNPC Ltd and First Exploration & Petroleum Development Company Limited (First E&P) Joint Venture (JV) have successfully achieved 96% reduction in routine flaring of associated gas (AG) from the Anyala (OML 83) and Madu (OML 85) fields. This feat is geared towards Nigeria’s commitment to reducing greenhouse gas emissions by 20% and 47% ,…
Residents of the Federal Capital Territory have been left stranded and grappling with fuel shortages following the sudden closure of several retail outlets owned by the Nigerian National Petroleum Corporation Limited within the capital city. It was gathered that the stations closed for some days, were allegedly ordered by the management of the national oil…
African Refinery Group (ARG), a midstream oil and gas company in Nigeria, has commenced the revamping of the Bonny Export Terminal (BET) facilities located in the Port Harcourt Refinery. Bonny Export Terminal (BET) comprises the onshore facilities adjourning the Port Harcourt Refining Company, a Nigerian oil and gas company that refines crude oil into petroleum…
President Bola Tinubu has approved an increase in the retirement age for doctors and other healthcare workers from 60 to 65 years. The National Publicity Secretary, Nigerian Medical Association (NMA), Mannir Bature, made this known in a statement issued in Lagos State. Mr Bature said the Coordinating Minister of Health and Social Welfare, Muhammad Pate,…
Nigeria’s cost of producing crude oil has risen to about $40 per barrel, a report by the Nigerian Upstream Petroleum Regulatory Commission has said. This is 300 per cent higher than the cost of producing the same crude in Saudi Arabia, which is $10 per barrel. According to the NUPRC, rising production costs, coupled with…
Two cargoes of jet fuel, averaging about 130 million litres, have been exported from Nigeria to Saudi Arabia by the Dangote Petroleum Refinery. Coming on the backdrop of projection by the Organisation of Petroleum Exporting Countries (OPEC) that the 650,000 barrel per day (bpd) refinery would disrupt the global crude and product market, President of…
•okays €30m concessional loan to support student housing projects •FG to harmonise, prioritise economic reform agenda The Federal Executive Council (FEC) has approved the issuance of a Federal Government bond worth N758 billion to settle outstanding pension liabilities owed to retirees under the old Defined Benefit Scheme. This was disclosed by the Minister of Finance…
The West African Gas Pipeline Company Limited (WAPCo), owner and operator of the West African Gas Pipeline (WAGP) is scheduled to undertake major pipeline maintenance activities from February 5 to March 2, 2025. These activities include the pigging and the in-line inspection of the 569 km offshore pipeline infrastructure, from Ajido, Lagos State, Nigeria to…
As controversies trailed the purported electricity tariff hike by the Federal Government, the Nigerian Electricity Regulatory Commission has issued regulations on the procedure for tariff reviews. The latest order, signed by NERC Chairman, Sanusi Garba, stated that pursuant to the provisions of the Electricity Act 2023, the commission is obligated to review and approve a…
