Category: Energy

PwC predicts drop in ageing power infrastructure by 2020
December 2, 2015 No Responses

PwC predicts drop in ageing power infrastructure by 2020

A survey put together by PricewaterhouseCoopers (PwC) has predicted that ageing infrastructure is expected to significantly reduce in the next five years (2020).  Quoting Chief Executive Officers (CEOs) of power and utilities companies in Nigeria, the survey explained that Security...
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NNPC, others to harmonise subsidy claims
December 1, 2015 No Responses

NNPC, others to harmonise subsidy claims

The Senate has directed the Ministry of Petroleum, Nigerian National Petroleum Corporation (NNPC) and other relevant stakeholders to harmonise subsidy claims for October to December 2015. Sen. Danjuma Goje, Chairman, Senate Committee on Appropriation, gave the...
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NCAA bars five marketers from supplying aviation fuel
November 26, 2015 No Responses

NCAA bars five marketers from supplying aviation fuel

The Nigerian Civil Aviation Authority has suspended five oil marketing companies from supplying aviation fuel, also called Jet A1, to local and foreign airlines operating in the country due to lack of depot facilities. According to Punch Newspaper, the compani...
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NNPC partners EFCC, DSS on fuel scarcity
November 26, 2015 No Responses

NNPC partners EFCC, DSS on fuel scarcity

Worried by the ongoing nationwide fuel scarcity, the Nigerian National Petroleum Corporation (NNPC) has implored  the Department of State Services (DSS) and the Economic and the Financial Crimes Commission (EFCC) to help arrest marketers hoarding and divertin...
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FG re-affirms commitment to GECF
November 24, 2015 No Responses

FG re-affirms commitment to GECF

The Federal Government  has assured the Gas Exporting Countries Forum ( GECF)  of its continuous support as it struggles to surmount the challenges that the global oil and gas industry is facing. This assurance was given by President Muhammadu Buhari...
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Panel accuses NNPC of frustrating crude deals probe
November 13, 2015 No Responses

Panel accuses NNPC of frustrating crude deals probe

The House of Representatives ad hoc committee set up by the parliament to investigate the alleged shady deals in the Refined Products Exchange Agreements (crude oil swap) has alleged that  the Nigeria National Petroleum Corporation (NNPC)  conspired to delib...
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NNPC advocates reduction in $30 production cost
November 11, 2015 No Responses

NNPC advocates reduction in $30 production cost

Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Dr. Ibe Kachikwu has described $30 currently spent by oil companies to produce one barrel of crude oil in Nigeria as too high. According to him, the amount should be reduced...
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‘Nigeria to find oil in Chad basin soon’
November 9, 2015 No Responses

‘Nigeria to find oil in Chad basin soon’

Nigeria  is on the verge of discovering significant quantity of oil in the Lake Chad area, North-East Nigeria,  the   Nigerian National Petroleum Corporation  (NNPC) has said. In a statement, NNPC explained that  it was projecting the inflow of $20 billi...
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FG approves N413b for Oil Marketers
November 5, 2015 No Responses

FG approves N413b for Oil Marketers

The Federal Government has approved the payment of N413 billion to petroleum products marketers being the outstanding payment for subsidy claims. In a statement, the Nigerian National Petroleum Corporation (NNPC) explained that it has also injected additional ...
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NSE may sanction Oando
November 4, 2015 No Responses

NSE may sanction Oando

The Nigerian Stock Exchange (NSE) may sanction Oando Plc over alleged delayed filing of its Audited Financial Statements (AFS) for the year ended December 31, 2014, its first quarter and half year. Already, Oando has been sanctioned for violations of...
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‘New Lifting Terms Will Abolish Hawking of Crude Oil’
November 3, 2015 No Responses

‘New Lifting Terms Will Abolish Hawking of Crude Oil’

THE management of Nigerian National Petroleum Corporation (NNPC) has explained that  new measures  put in place to select  new off-takers of Nigeria’s crude oil grades will eliminate ‘hawking’.  The Corporation, which received 278 bids from indigenou...
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NNPC opens bid for crude oil grade
October 28, 2015 No Responses

NNPC opens bid for crude oil grade

NIGERIAN National Petroleum Corporation (NNPC) has  conducted the public opening of bids tendered by Nigerian and international companies for the purchase of Nigeria’s crude oil grade. According to the News Agency of Nigeria (NAN)  278 local and internatio...
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Oando explains N183.9b loss in 2014
October 26, 2015 No Responses

Oando explains N183.9b loss in 2014

THE controversy surrounding Onado’s N183.9billion loss for the year 2014 continued at the weekend unabated. In its full-year ending 2014, the company last Friday declared loss after tax of N183.9billion compared to a profit after tax of N1.396billion in 2013...
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91 firms bid for NNPC coastal vessels contract
October 23, 2015 No Responses

91 firms bid for NNPC coastal vessels contract

NOT less than 91 firms have indicated interest in  the provision of coastal and bunkering vessel services for the operations of the Pipelines and Products Marketing Company (PPMC), a subsidiary of the Nigeria National Petroleum Corporation (NNPC). In a statem...
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