$40bn Investments Needed for Nigeria’s Gas Plan - NNPC       The Nigerian National Petroleum Corporation (NNPC) has said that the Nigerian oil and gas industry will require at least $40 billion in direct investments in basic infrastructure to achieve the federal government’s much talked-about about “Decade...

PIB'll Address Production Sharing Contracts Issues On Gas, Says Sylva       The Minister of State for Petroleum Resources, Chief Timipre Sylva, says the Petroleum Industry Bill (PIB) currently before the National Assembly will resolve the issues under the Production Sharing Contracts (PSC) on gas. Sylva made this...

Gas Flaring: Nigeria Loses N189.90bn In 11 Months       Nigeria lost an estimated N189.90bn from January to November 2020 as international oil companies and local players flared a total of 178.95 billion standard cubic feet of natural gas. The oil companies wasted 19.95 billion scf of gas...

Power Sector Loses N26.4bn To Gas, Grid Challenges         The power sector has continued its sub-optimal performance in January, losing about N26.4 billion in revenues in the first month of the year, mainly due to gas supply issues as well as transmission and distribution challenges in...

Oil, Gas To Meet Over 50% Global Needs By 2045 — OPEC       The Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Dr Mohammad Barkindo, has said the oil and gas sector will still supply over 50 per cent of the global energy needs...

Ten Power Plants Idle On Discos’ Rejection, Gas Shortage         Ten of the nation’s 29 power plants sat idle on Monday on the back of low load demand by the distribution companies and gas constraints. Total power generation in the country fell to 4,112.10 megawatts as of...