Nigeria to leverage on gas to counter pangs of fuel subsidy cuts

Sep 21, 2020

Nigeria is counting on gas-powered vehicles to help it reduce reliance on gasoline and improve its climate credentials while easing the pangs of ending decades of an expensive fuel-subsidy regime. Energy prices have shot up sharply after the government ended subsidies and the country’s labor unions are threatening a general strike on Sept. 28. After…

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Rivers State, Shell inaugurate board for gas project

Sep 21, 2020

The Rivers State government and the Shell Petroleum Development Company of Nigeria Limited (SPDC), have inaugurated the Egi/Igburu Cluster Development Board (CDB) for pipeline communities to SPDC’s Assa North Gas project, which has a capacity for 300 million standard cubic feet of gas per day and the potential to be one of the largest domestic…

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78 firms bid for NNPC pipelines rehabilitation

Sep 21, 2020

Nigerian National Petroleum Corporation (NNPC) yesterday disclosed that no fewer than seventy-eight companies submitted virtual bids to rehabilitate its downstream pipelines, associated depots and terminal infrastructure through the Finance, Build, Operate and Transfer (BOT) model. A statement from the corporation said the bidding exercise was witnessed by external observers which includes, Bureau of Public Procurement,…

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More investors seek to establish modular refineries following deregulation – DPR

Sep 21, 2020

The Department of Petroleum Resources has said more investors are showing interest in establishing modular refineries in the country following the deregulation of petrol. The Director, DPR, Mr Sarki Auwalu, was quoted in a statement on Friday as saying this, adding that seven refineries were already at various levels of completion. He said, “By 2022,…

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Africa’s natural gas projects are crucial for global energy transition – Nigeria LNG GM

Sep 20, 2020

Africa’s natural gas projects are crucial to the energy transition and economic development in the region and can be used to power industrialisation while reducing the emissions released into the atmosphere, said to Leye Falade, general manager of production at Nigeria LNG (NLNG) at ADIPEC Energy Dialogue. Natural gas is an integral part of the…

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Oando to project Nigeria’s gas potentials, as AOW focuses on regional energy opportunities

Sep 20, 2020

Nigeria’s Oando Energy Resources, will be projecting the country’s vast gas potentials and attractive opportunities open to investors as the Africa Oil Week, AOW, gathers regional and international stakeholders. Already, private investors and key government functionaries across Africa, are getting ready to address issues around Africa’s oil and gas challenges as well as opportunities that…

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PPPRA gazettes market-based pricing regime for fuel

Sep 20, 2020

The Petroleum Products Pricing Regulatory Agency has gazetted a market-based pricing regime for petrol. Spokesperson of the agency, Kimchi Apollo, stated on Wednesday that with the new gazette, oil marketers were now empowered to fix petrol price in accordance with the market realities. He told our correspondent in Abuja that the gazette on pricing regime…

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Saudi energy minister presses OPEC+ members on fulfilling oil cuts pledge

Sep 20, 2020

Saudi energy minister Prince Abdulaziz bin Salman delivered yet another warning to OPEC+ compliance laggards, saying at a Sept. 17 monitoring committee meeting that failing to execute pledged production cuts was undermining the alliance’s efforts to rebalance the oil market. “Repeated promises that are not carried through in a timely fashion may have temporary positive…

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NNPC records N20.36bn trading surplus in July 2020

Sep 20, 2020

The Nigerian National Petroleum Corporation (NNPC) has recorded an increased trading surplus of N20.36 billion in July 2020 compared to the N2.12 billion surplus in June 2020 in its operations. NNPC group general manager, Group Public Affairs Division, Dr Kennie Obateru, in a release in Abuja, explained that details of the figures captured in the…

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Nigeria’s domestic gas prices may rise as GACN reviews agreements

Sep 20, 2020

The Gas Aggregation Company of Nigeria Limited on Thursday said all agreements being used in Nigeria’s gas market would be reviewed to be in tandem with present day market realities. It said the review had become necessary in order to attract investors to the country’s gas market, adding that a workshop involving 670 operators in…

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