Dare Olawin
Low refining capacity slows African downstream oil sector – Sahara Group
The Executive Director of the Sahara Group, Wale Ajibade, has stated that inadequate refining capacity, insufficient storage, and impeded product movement across Africa are the three major impediments...
2nd May 2024
NCDMB receives N450m dividend from Waltersmith modular refinery
The Nigerian Content Development and Monitoring Board has disclosed that it has received an interim dividend of N450m out of the N1.5bn declared for the 2023 financial year by Waltersmith Refinery and...
2nd May 2024
MIDOil refinery seeks host communities’ cooperation
Prior to the commencement of the construction of its proposed 100,000 barrels per day modular refinery, the MIDOil Refining and Petrochemicals Company Limited had set up a community forum. The inaugur...
2nd May 2024
Obat Oil rebrands
Obat Oil and Petroleum Limited has undergone a rebranding process and will now be known as Obat Energy. The energy firm said this in a statement made available to newsmen on Wednesday. According to th...
2nd May 2024
Petrol hits N800 as 240 million-litre vessels arrive
The Nigerian National Petroleum Company Limited on Monday began offloading 240 million litres of Premium Motor Spirit, otherwise called petrol, as it stepped up efforts to tackle the worsening nationw...
30th April 2024
NANS threatens mass action over fuel scarcity
The National Association of Nigerian Students has threatened to embark on mass action if the Federal Government fails to take immediate steps to address the current fuel scarcity in the country. The s...
29th April 2024
Petrol scarcity: Fuel crisis worsens as depots divert PMS to Abuja
•NNPC rations supply to depots, orders operators to prioritise loading to Abuja •Queues spread in Lagos, Ogun, others, stations raise pump prices as black market thrives Despite claims by the Nige...
29th April 2024
P’Harcourt DisCo begins new tariff for Band A customers
The Port Harcourt Electricity Distribution Plc said it has commenced the implementation of the April 2024 Supplementary Order to the Multi-Year Tariff Order of the Nigerian Electricity Regulatory Comm...
27th April 2024
P’Harcourt DisCo gets eight additional Band A feeders
The Nigerian Electricity Regulatory Commission has upgraded eight feeders of the Port Harcourt Electricity Distribution Company from Band B to Band A. The PHED disclosed this in a notice on Friday, sa...
26th April 2024
Clean energy jobs hit 35m in fossil fuel sector - Report
Clean energy jobs rose to 35 million in the fossil fuel sector, representing a growth of 4.7 million in the last year, a 2023 World Energy Employment Report has stated. According to the report, while ...
26th April 2024
Axxela raises N16bn for gas pipeline projects
Axxela Limited, a sub-Saharan African gas and power company, has announced the completion of its N15bn Series 1 Bond Issuance, raising an additional N1.4bn in oversubscription. Axxela’s Chief Execut...
25th April 2024
Ondo, Enugu, Ekiti can fix electricity tariffs – NERC
The Nigerian Electricity Regulatory Commission has authorised Ondo, Ekiti and Enugu States to determine their electricity tariffs independently. NERC also gave them approval to generate, transmit, dis...
25th April 2024
Report ranks Dangote over Europe’s big refineries
The Dangote refinery has been ranked above the 10 biggest refineries in Europe because of its capacity, according to data compiled by Bloomberg. The $20bn Dangote refinery can refine 650,000 barrels o...
25th April 2024
$500m funds: Lokpobiri, ex-local content boss clash
The face-off between the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, and the former Executive Secretary of the Nigerian Content Development and Monitoring Board, Simbi Wabote,...
24th April 2024
Rainstorm plunges 40 Ogun communities into darkness
A raging rainstorm on Sunday wreaked havoc at Sango-Ota, in the Ado-Odo/Ota Local Government Area of Ogun State, plunging over 40 communities into darkness. The storm pulled down electric poles and ca...
22nd April 2024
Why every car owner should consider CNG conversion
In light of the recent increase in petrol prices, switching to compressed natural gas cannot only help car owners save money but also contribute to a more sustainable environment. This is particularly...
22nd April 2024
FG probes $500m local content loans, projects
The Federal Government says it is reviewing loans and projects estimated at $500m executed by the Nigerian Content Development and Monitoring Board. The Minister of State for Petroleum Resources (Oil)...
22nd April 2024
Abuja Investments Company gets new GMD
Dr Maureen Tamuno has assumed office as the Group Managing Director of the Abuja Investments Company Limited. The company, in a statement on Wednesday, said it was pleased to welcome Tamuno, who assum...
19th April 2024
Ooni launches Tingo beverages
The Ooni of Ife, Oba Adeyeye Ogunwusi, has launched two soft drinks, Tingo Cola and Tingo Electric Energy Drink. At the event recently, the monarch described the drinks as a dream come true, adding th...
19th April 2024
Axxela donates building to FRSC
Axxela Limited has donated a fully furnished administrative building to the Lagos Sector Command of the Federal Road Safety Corps. In a statement made available to our correspondent on Tuesday, the co...
18th April 2024
Adelabu, Obaseki, Kyari to grace Lagos awards
The Minister of Power, Adebayo Adelabu; the Edo State Governor, Godwin Obaseki; and the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, among other dignit...
18th April 2024
Why Transcorp Power exports electricity to Benin Republic - CEO
The Managing Director/Chief Executive Officer of Transcorp Power Plc, Peter Ikenga, has stated that the inability of Nigerian power distribution companies to distribute the electricity generated has b...
18th April 2024
FG may revoke unused oil well licences amid $30bn loss
Apparently worried by the country’s dwindling oil revenue, the Federal Government says it has concluded plans to take over all idle oil wells from operators holding on to them. The government also t...
17th April 2024
Transcorp Power targets 740MW December
Transcorp Power Plc says it is planning to raise its power-generating capacity to 740 Megawatts, up from the current 550MW capacity by December 2024. The Managing Director/Chief Executive Officer of t...
17th April 2024
How to reduce your energy cost amid tariff hike
The need to adopt energy conservation has become imperative for individuals and businesses, especially in the face of the recent electricity subsidy removal on energy consumed by customers in Band A, ...
16th April 2024
Tariff hike: FG begs workers as electricity union insists on strike
The Federal Government has appealed to members of the National Union of Electricity Employees not to down tools over the recent electricity tariff hike. This is as the union insisted that they would w...
15th April 2024
OCP Africa donates N10m to agric students
OCP Africa, a subsidiary of OCP Group OCP Africa, has committed N10 million to the Brightest University Fund. The company announced an N100m crowdfunding campaign for the top 81 high school students s...
15th April 2024
DisCos struggle to satisfy Band A customers over gas shortage
Due to a gas shortage that has hindered generation since January, many electricity distribution companies have been finding it difficult to provide Band A customers with 20 hours of electricity. Sunda...
14th April 2024
33 additional EKEDC feeders migrated to Band A
The Eko Electricity Distribution Company says the Nigerian Electricity Regulatory Commission has approved the migration of 33 additional feeders to Band A under its franchise area. The feeders are Ade...
12th April 2024
New electricity tariff may drop if naira rebounds further – Adelabu
The Minister of Power, Adebayo Adelabu, says the N225 Kilowatt-Hour being paid by electricity consumers on Band A will reduce if the exchange rate falls below N1,000 to a dollar. Adelabu said this Thu...
12th April 2024
Young Nigerians urged to patronise local goods to grow economy
A call has gone to Nigerian youths to patronise and promote locally manufactured goods in order to grow the economy. The Assistant General Overseer of the Redeemed Christian Church of God and Pro-Chan...
12th April 2024