Category: Oil & Gas
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Niger Delta Coalition Pressures NNPC to Operationalize Port Harcourt Refinery
Some lawyers from the Niger Delta have issued an ultimatum to the Nigerian National Petroleum Company Limited (NNPCL) and its Managing Director, Mele Kyari, to ensure the Port Harcourt Refinery becomes operational before the end of September, as previously promised. According to the lawyers, the refinery’s non-functionality has led to an energy crisis, with oil-producing…
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Petrol Crisis Deepens as Independent Marketers Raise Prices to N780/Litre
Petrol shortages have escalated across Lagos, Ogun, and other states as independent marketers now source the product from private depots at N780 per litre, a substantial increase from the previous N595 per litre—an upsurge of 31 percent. Marketers attribute this price hike to the current imbalance between supply and demand in the domestic market. Chief…
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Nigeria Spends $600 Million Monthly on Fuel Imports, Reveals Wale Edun
Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, has revealed that the country spends $600 million each month on fuel imports. This expenditure, he noted, extends beyond Nigeria, benefiting neighboring countries and even reaching as far as Central Africa. Edun discussed these figures during an interview on AIT’s Moneyline program, which…
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Lokpobiri Mediates Resolution Among Stakeholders Over Dangote Refinery Issues
By Milcah Tanimu Senator Heineken Lokpobiri, the Minister of State for Petroleum Resources (Oil), has facilitated a high-level meeting to address ongoing disputes concerning the Dangote Refinery. The meeting took place on Monday in Abuja and aimed to resolve conflicts among key figures in the oil and gas sector. Attendees included Alhaji Aliko Dangote, Chairman/CEO…
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Reps to Probe Petrol Scarcity
The House of Representatives has tasked its Committees on Petroleum Resources (Downstream and Midstream) with investigating the recent resurgence of fuel queues at service stations nationwide, aiming to find sustainable solutions to the sector’s persistent challenges. This decision followed the adoption of a motion of urgent public importance presented during Tuesday’s plenary by Mr. Bill…
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Uba Michael Unveils Solar Panels at Nigeria Oil & Gas Conference
Renewable energy firm UBACLE Group has introduced its range of solar panels to promote the adoption of renewable energy in Nigeria. The unveiling took place on Monday at the Nigeria Oil and Gas Conference in Abuja, the federal capital territory. UBACLE Group CEO, Uba Michael, emphasized the importance of alternative energy sources in the pursuit…
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FGN Moves To Enforce Insurance Of Miners
From Lateef Taiwo The Federal Government of Nigeria, FGN, has reinstated its commitment to enforcing insurance policy for miners in Nigeria. Minister of Solid Minerals Development, Dr Dele Alake, disclosed this whilerepresenting President Bola Tinubu on a condolence visit to Niger State Governor, Hon. Umar Bago, in Minna over the recent mine pit collapse in…
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Convert abandoned Shell Airstrip in Oloibiri to Airforce base – Senate tells FG…
call on Oil Companies to contribute to upgrade of the Airstrip From Lateef Taiwo The Senate Thursday urged the Ministry of Aviation and the Nigeria Airforce , to take over and convert the deserted and uncultivated waste land of the abandoned Shell Airstrip at Oloibiri Oil well one , to a modern Airforce base in…
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Nigeria’s Oil Sector Attracts $16.6 Billion Investments Under Tinubu Administration – Minister
The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, announced on Monday that Nigeria’s oil and gas sector had attracted approximately $16.6 billion in investments within the past year under President Bola Tinubu’s administration, which commenced on May 29, 2023. Lokpobiri made this revelation in Abuja while providing updates on the achievements in the…
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Revolutionizing Nigeria’s Mining Sector: Launch of Nigerian Minerals Resource Decision Support System
By Milcah Tanimu In a significant milestone for Nigeria’s mining industry, the Ministry of Solid Minerals Development unveiled the Nigerian Minerals Resource Decision Support System (NMDSS) during a landmark event in Abuja on May 14, 2024. Dr. Oladele Alake, the Minister of Solid Minerals Development, emphasized the event’s importance in advancing President Bola Ahmed Tinubu’s…