In a significant boost to its oil output, Nigeria’s state oil firm, the Nigerian National Petroleum Corporation (NNPC), announced on Thursday that it has increased oil production to 1.8 million barrels per day (bpd). This marks a substantial rise from the 1.3 million bpd recorded in October, as reported by the Organisation of the Petroleum Exporting Read More…
The rich also cry. I have seen wealthy and successful people break down in tears and despondency. You would think that some people have everything made in their favour; the sun smiles at everything that they do. The gods are queuing to crack the rich man’s kernels lest he bites his tongue while attempting the Read More…
The Nigerian National Petroleum Corporation (NNPC) Limited has announced the estimated pump prices of Premium Motor Spirit (PMS), popularly known as petrol, for retail stations across the country, following negotiations with the Dangote Refinery. In a press statement released on Monday, the NNPC revealed that the new prices reflect the cost of PMS supplied from Read More…
In a recent press statement, the Dangote Group has firmly denied claims made by the Nigerian National Petroleum Company Limited (NNPCL) regarding the sale price of Premium Motor Spirit (PMS). The NNPCL spokesperson, Mr. Olufemi Soneye, alleged that Dangote sold PMS at an exorbitant rate of N898 per litre. This statement, according to Dangote Group, Read More…
Former Vice President of Nigeria, Atiku Abubakar, has called on the Federal Government to explain why Oando Plc, owned by President Bola Tinubu’s nephew, received accelerated approval to acquire the onshore assets of AGIP and ENI. This comes while other transactions, such as the Shell/Renaissance deal and the Mobil/Seplat deal, continue to face delays. Atiku Read More…
In a strongly worded statement, the Nigerian National Petroleum Company Limited (NNPC Ltd.) has categorically denied allegations leveled by former Vice President Atiku Abubakar, asserting that President Bola Ahmed Tinubu and Mr. Wale Tinubu hold a 49% stake in the OVH acquisition deal. The accusations suggest a broader scheme to entwine personal business interests with Read More…
Nigeria is gearing up to host a specialised oil and gas roadshow aimed at enticing back international energy companies that previously withdrew from its onshore sector, a senior government official announced on Monday. Following the departure of major players like Shell and Exxon, who shifted focus to deep offshore exploration, Nigeria has faced challenges in Read More…
In a revealing account at the recent Afreximbank Annual Meetings, Aliko Dangote, Africa’s wealthiest individual and founder of Dangote Group, shared a harrowing tale of resilience against sabotage attempts by local and international criminal entities on his ambitious $19 billion refinery project. Dangote described these entities as an “oil mafia,” which he suggests have vested Read More…
In a landmark move that could reshape the landscape of Nigeria’s oil industry, Seplat Energy is on the verge of concluding its acquisition of ExxonMobil’s Nigerian shallow water oil assets, valued at a colossal $1.28 billion. This development comes after the Nigerian National Petroleum Corporation (NNPC) withdrew its legal challenge against the sale, which had Read More…
The National Bureau of Statistics (NBS) reveals a decline in the average price of a litre of kerosene from N1,362.27 in December 2023 to N1,329.53 in January 2024, according to its “Kerosene Price Watch” released in Abuja on Wednesday. Highlighting the statistics, the NBS emphasises a 2.40% decrease in the January price compared to the Read More…
