FILE PHOTO: Nigeria National Petroleum Corporation (NNPC) headquarters are seen in Abuja

Here’s why it is difficult for NNPC to raise private capital

The Nigerian National Petroleum Corporation (NNPC) is finding it difficult to access funds from private investors to undertake most of its oil and gas operations because it is unable to show that it is transparent, efficient in corporate governance and can make good returns on its investments, the Nigeria Natural Resource Charter (NNRC) has alleged. […]

Read More
gas flaring

Experts blames FG for continued gas flaring in Niger Delta

The federal government has been blamed for Nigeria’s continued flaring of gas produced from oil fields in the Niger Delta. According to experts which included a former chair of the Nigerian Electricity Regulatory Commission (NERC), Mr. Ransome Owan, the government has continuously failed to show the level of commitment and leadership required to end gas […]

Read More

Ibe Kachikwu wins PTI award

The Minister of State for Petroleum Resources, Dr. lbe Kachikwu, has been conferred with the Petroleum Training lnstitute’s (PTI) Life Recognition Award, in recognition of his exemplary leadership, uncommon feats in nation building and developmental initiatives toward the sustained growth of the nation’s oil and gas sector. The award was also in appreciation of the […]

Read More
Delayed electrification project will not be completed...

Powergas, ETEFA gas-fired public transport buses to save Nigeria over $2.5 bln yearly

Major cities in Nigeria will soon witness the introduction of gas-powered buses, which is expected to save the country over US$ 2.5 billion per year by reducing fuels costs in the transportation and power generation sector by over 30 per cent. The concept is a product of the Clean and Environmentally Sustainable Transportation Programme under […]

Read More

NPDC targets oil production of 300,000 barrels per day

The Nigerian Petroleum Development Company, the upstream subsidiary of the Nigerian National Petroleum Corporation, has said it is aiming to increase its crude oil production to 300,000 barrels per day this year. The Managing Director, NPDC, Yusuf Matashi, said the company would also work towards ramping up its gas production to one billion standard cubic […]

Read More
DRC out to capitalize on recovering mining industry

FG revoked 4,176 mining titles in 8-year

The Federal Ministry of Mines and Steel Development said it revoked 4,176 mining titles between 2011 and 2018. The ministry disclosed this in a report made available to journalists in Abuja. It said that 908 mining titles were revoked in 2011, none was revoked in 2012, while 548 were revoked in 2013 and 250 in […]

Read More
An employee works on electric pylons at a power station in Greater Noida on the outskirts of New Delhi June 8, 2012. REUTERS/Parivartan Sharma/Files

Nigeria Manufacturers spent ₦246 bln on generators in two years

Against the backdrop of the worsening public power supply, new data have emerged showing that manufacturers in Nigeria spent a total of ₦246.38 billion generating their own electricity between 2016 and 2017. Further analysis of the data compiled by the Manufacturers Association of Nigeria showed that the operators spent ₦129 billion in 2016 and ₦117.38 […]

Read More
Nigeria's Oil Minister and OPEC president Kachikwu addresses a news conference after a meeting of OPEC oil ministers in Vienna

FG to provide institutional support for 60 local oil, gas companies

The Federal Government on Thursday unveiled 60 indigenous oil and gas companies which had been approved to get institutional support from the Federal Ministry of Petroleum Resources, agencies under the FMPR, as well as from other players in the oil sector. According to the Minister of State for Petroleum Resources, Ibe Kachikwu, the government has […]

Read More
Oil workers walk through pipe installations on a tanker at Bonga off-shore oil field outside Lagos, file.

Refineries’ funding: NNPC, investors disagree on commercial terms

After spending over one and half years negotiating with financiers for the revamp of Nigeria’s refineries, the Nigerian National Petroleum Corporation on Wednesday declared that it could not agree with the investors on the commercial terms of the transaction. Punchng had early reported that the NNPC looked set to announce investors for the proposed rehabilitation of […]

Read More
FILE PHOTO: Nigeria National Petroleum Corporation (NNPC) headquarters are seen in Abuja

Nigerian refineries not that old, says NNPC

Infrastructure Concession Regulatory Commission, ICRC, and Dangote Group, yesterday, advised the Federal Government to hands off the running of the country’s refineries and instead concession the facilities, allowing private sector participation. Speaking at the just concluded Nigeria International Petroleum Summit, NIPS, in Abuja, yesterday, Director-General of the ICRC, Mr. Chidi Izuwah, said the future of […]

Read More

Rosatom to Train More Nigerians on Nuclear Energy

The Rosatom, which is a state-run nuclear energy corporation of the Russian Federation, has announced its intention to train more Nigerians in safe use of nuclear technology. The development which came at a time the Petroleum Technology Development Fund (PTDF) disclosed that it received 27,474 applications from Nigerians asking for financial support to study various […]

Read More

Nestoil develops evacuation system to fight crude oil theft

Nestoil Limited has developed an alternative evacuation system to reduce stealing of Nigeria’s crude oil to the barest minimum. Through the alternative evacuation system, the regular downtime caused by technical issues to pipelines carrying crude oil, and vandalism done on pipelines across specific routes recorded through the use of flow lines or the Trans-Forcados Pipeline […]

Read More