Spending On Petrol May Rise To N8trn After Subsidy Removal   Petrol consumers may pay about N8.4trn for Premium Motor Spirit, popularly called petrol, between July and December 2023 once the Federal Government stops subsidy on PMS in June, latest findings and industry data showed. This represents...

Nigeria’s Average Crude Oil Production Rises By 15% In 2023   Despite its perennial underproduction in the last two years, Nigeria has been able to ramp up its crude oil output compared to its budget benchmark from an average of about 60 per cent to 75...

NNPCL, Five JV Partners Sign Gas Supply Agreement Worth Over $250m Six joint venture domestic and international oil companies, signed a Gas Supply Agreement for the supply of natural gas for a 500 megawatts power project valued at over $250m (N115bn at the official exchange...

$2.8bn Gas Pipeline Ready to Power 3,600MW plants, Says FG The Vice President, Prof. Yemi Osinbajo, on Monday announced that the $2.8bn Ajaokuta-Kaduna-Kano natural gas pipeline project being constructed by the Federal Government through the Nigerian National Petroleum Company Limited and its partners, is now...

Alleged N20bn Diversion: Reps Probe NNPCL Officials The House of Representatives, on Thursday, set up an ad hoc committee to investigate the Nigerian National Petroleum Company Limited over the alleged diversion and conversion of N20bn by its officials in the guise of payment to consultants. This...

Subsidy Removal: Oil Marketers Urges FG  to Provide FX at Official Rate Stakeholders in the downstream sector have called on the Federal Government to provide foreign exchange at the Central Bank of Nigeria’s rate to enable petroleum importation. The appeal was made during a virtual online...