Category: Energy

Modular Refineries and Quest for Local Refining Capacity

Since coming to power, the present administration has been working hard towards getting Nigeria to refine its crude for local consumption and possibly exportation. Beyond this economic calculation, the government is equally miffed by the country’s despicable and shameful status as a major crude producer and a net importer of refined petroleum products. Owing to […]

Grant Signing Ceremony Between USTDA and Eko Petrochem and Refining Company Limited/Official Presentation of Tomaro Industrial Park

1. From left: United States of America Ambassador to Nigeria, Mr. W. Stuart Symington; Acting Director, US Trade and Development Agency (USTDA), Mr. Thomas Hardy, Chairman, Integrated Oil and Gas Limited, Capt Emanuel Ihenacho, Managing Director, Integrated Oil and Gas, Mr. Tony Ihenacho and the Managing Director, Nigeria Export Processing Zones Authority (NEPZA), Hon. Emmanuel […]

Price of kerosene in Nigeria rose by 87.12 % in January – NBS

The National Bureau of Statistics (NBS) said that Nigerians bought kerosene at N434 per litre in January from N231.85 they bought the product in December 2016. The bureau announced this in a “National Household Kerosene Price Watch (January 2017)’’ released on Wednesday in Abuja. The report stated that average price per litre paid by consumers […]

Downstream Oil Sector; Stakeholders Advocate Open Market Operations

The Department of Petroleum Resources, DPR alongside other stakeholders in the downstream sector of the petroleum industry have called for full deregulation of the downstream industry to broaden investment in the sector. They argued that a shift from regulated regime to open market operations would guarantee energy availability for national development. In his key note […]

Nigeria Hopes To Raise Crude Oil Output By 200,000 BPD In 2018

Yemisi Izuora/Ijeoma Agudosi The Nigerian National Petroleum Corporation, NNPC,has projected that Nigeria’s crude oil production would increase by 200,000 barrels per day by the first quarter of 2018. The NNPC, said this would be made possible with the commissioning of the Umblical Flow-lines and Risers (UFR) for the Egina Deep Offshore Project. Speaking during the […]

How Shell Duped Nigeria of $406.75 million – FG

The Federal Government is demanding $406.75 million from Shell Petroleum Development Company of Nigeria Limited and its subsidiary, Shell Western Supply & Trading Limited, over alleged crude oil theft. The amount, according to court documents presented in Lagos on Tuesday, represents the shortfall of the money the multinational oil firm paid into the Federal Government […]

Refineries: Pitfalls for NNPC’s Ultimatum

The recent gains recorded in Nigeria’s refining and petrochemical industry may be short-lived due to the collapsed in pipelines crude supply contracts for the four refineries, reports Adeola Yusuf Luxuriating in the euphoria of success in the midstream oil sector after he took over the mantle of leadership at the Nigerian National Petroleum corporation (NNPC), […]

Oil Reforms: More Questions Than Answers

The reversal of ban on 113 oil vessels and signing of revised oil swap deals by the Nigerian National Petroleum Corporation (NNPC) have left tongues wagging over the muchtouted reforms in the sector, writes Adeola Yusuf The NNPC took many by surprise on two occasions last week. Within 24 hours (between Wednesday, August 9 and […]

Power Supply Drops to 3,843mw

Nigeria’s power supply has dropped from the 4,131.71 mega watts (mw) it recorded as at August 26 to 3,843.99mw on Monday this week. The Presidential Taskforce on Power (PTFP), which made this disclosure on Sunday in its power generation report, stated that power generation has also declined from 4,810.70mw to 4,480.80mw. It disclosed that the […]