Oando to sue individuals, entities spreading false information about NAOC transaction
Oando Plc has warned individuals and entities against spreading false information about the Nigerian Agip Oil Company (NAOC) transaction. In a statement on Monday signed by Ayotola Jagun, the company’s secretary, Oando said it will sue those that do not desist from spreading inaccurate information. On August 22, Oando said it completed the acquisition of Eni’s 100 percent shareholding in the…
Dangote Refinery Soon to commence production of Gasoline for Global Markets
The Dangote refinery in Nigeria, Africa’s biggest and newest crude processing facility, is set to soon begin production of gasoline, potentially upending global gasoline flows. For years, Nigeria has been importing the gasoline it consumes, but the newly operational refinery is poised to turn OPEC’s largest African crude oil producer from a gasoline importer to…
Bill Gates to meet African leaders on health, agriculture
The co-chair of the Bill & Melinda Gates Foundation, Bill Gates is visiting Nigeria this week, as part of the foundation’s ongoing commitment to Africa’s development. Gates will be meeting with national and local leaders, partners, grantees, and innovators to discuss advancing health, innovation, and nutrition across Africa. Gates, alongside other foundation leaders, will meet…
Petrol scarcity may worsen nationwide
The lingering fuel crisis in the country may last longer as the nation’s oil company, the Nigeria National Petroleum Company Limited (NNPCL) has admitted to owing petrol suppliers to the tune of about $6 billion. Nigerians have not had it so good this year as fuel queues have dotted filling stations across the country, with…
NNPCL’s ‘Financial Strain’, A Game Plan To Increase Pump Price – Experts
The announcement of the Nigerian National Petroleum Corporation Limited (NNPCL) on being unable to sustain fuel supply is a game plan, according to experts. On…On Sunday, Chief Corporate Communications Officer of the NNPCL, Olufemi Soneye, admitted that the national oil company is owing suppliers, but did not specify the exact amount.“NNPC Ltd has acknowledged recent…
DisCos reject 1,400mw over under-capacity
Electricity distribution companies, otherwise known as DisCos, were unable to take the full power generation in recent period, underlining a major challenge in the electricity supply chain. Minister of Power, Chief Adebayo Adelabu, yesterday said that power generation had peaked at 5,170 megawatts on Friday, August 30, 2024 but this had to be ramped down by…
Layers of deceit’ – Atiku slams NNPCL over $6 billion debt admission
Former Vice President, Atiku Abubakar has criticised the Nigerian National Petroleum Company Limited (NNPCL) for its lack of transparency following the company’s admission of a $6 billion debt to petrol suppliers.This admission made public on Sunday, September 1, has explained the fuel scarcity that has plagued the nation for six weeks. The Chief Communications Officer…
Hiking energy tax will hit growth, oil industry says
Raising the windfall tax on the UK’s oil and gas companies will hit the government’s main goal of growing the economy, the industry has warned. Offshore Energies UK (OEUK) said the planned hike would cause investment in the sector to plunge and result in a loss of £13bn to the UK economy from 2025 to…
NNPC to hand over Warri and Kaduna refineries to private operators
The Nigerian National Petroleum Company Limited has stated plans to engage reputable operations and maintenance companies for the Warri Refining and Petrochemical Company and the Kaduna Refining and Petrochemical Company. The NNPC, in a notice on its website, said this was to ensure reliability and sustainability to meet the nation’s fuel supply and energy security…