‘Crazy’ bills: No respite for Nigerian electricity consumers
31 December 2016, Lagos – Three years after the nation’s power sector was privatised, millions of Nigerian households are still groaning un...
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Nigeria’s steel sector gets $100m Chinese investment
31 December 2016, Abuja – Nigeria’s steel production has received a $100 million Chinese investment through HongXing Steel Company Limited....
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New Port Charges: Maritime authorities move against shipping firms
31 December 2016, Lagos – The Nigerian Shippers’ Council, (NSC), and the Nigerian Ports Authority, (NPA) have moved to tackle the newly int...
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Power in retrospect: Peak generation, system collapse, MDA debt top 2016
Kunle Kalejaye 31 December 2016, Sweetcrude, Lagos — In 2016, Nigeria’s Power sector witnessed a historically highest electricity generatio...
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South Africa: Petrol prices to increase in January 2017
31 December 2016, Pretoria — Motorists will have to dig deeper into their pockets as all grades of petrol are due to increase next Wednesda...
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Nigeria: Dogara seeks review of power privatisation over N309 billion bond
31 December 2016, Abuja — House of Representatives Speaker, Yakubu Dogara has canvassed a rethink of Federal Government policy to privatise...
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Nigeria: N550 billion export fund dormant – NEXIM Co-Ordinator
31 December 2016, Kaduna — The Regional Coordinator, Nigerian Export Promotion Council, North West, Abdullahi K. Mamman, has said the N550 ...
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Algeria: €900 million Algeria-AfDB loan agreement approved
31 December 2016, Sweetcrude, Algiers — The Council of Ministers has adopted Wednesday a loan agreement between Algeria and the African Dev...
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Lekki Deep Seaport promoters jittery over govt divestment plans
31 December 2016, Lagos — Fresh facts have emerged that the promoters of the Lekki Deep Seaport are now jittery over the decision of the Fe...
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Maritime Infrastructure Commission underway
31 December 2016, Lagos — A former Managing Director of Nigerian Ports Authority, NPA, Engr Omar Suleiman, has called for the establishment...
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Nigeria: Oil companies lift $18bn crude oil in 12 months
Ike Amos 20 December 2016, Sweetcrude, Abuja — The Nigerian Petroleum Development Company, NPDC, Independents and International Oil Compani...
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Nigeria: PPMC earns N1.05trn from sale of petrol, kerosene
Ike Amos 30 December 2016, Sweetcrude, Abuja — The Nigerian National Petroleum Corporation, NNPC, through its subsidiary, the Pipeline and ...
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Nigeria’s Q3 crude oil production declined by 12% — NEITI
Ike Amos 30 December 2016, Sweetcrude, Abuja — Nigeria’s average crude oil production dropped by 11.6 percent to 1.6 million barrels per da...
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Financial market products & services update
30 December 2016, Sweetcrude, Houston — Local and international financial market products and services update. NIGERIA: The Naira is one of...
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Release 13% derivation fund to oil-producing communities — HOSTCON
Ike Amos 30 December 2016, Sweetcrude, Abuja — Host Communities of Nigeria Producing Oil and Gas (HOSTCON) has called on the Federal and st...
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Divergent views over NPA’s $100M stakes in Lekki deep seaport project
30 December 2016, Lagos — THE recent proposal by the Managing Director of the Nigeria Ports Authority, NPA, Ms Hadiza Bala Usman to scale d...
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Govt can’t develop Niger Delta to ‘our taste’ – Ijaw professionals
30 December 2016, Yenagoa – A pan-Ijaw professional group, the Ijaw Professionals Association, Homeland chapter, has urged the Ijaw nation...
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Tragedy averted as petrol tanker falls in Ogun
30 December 2016, Abeokuta – Scores escaped death in the early hours of Friday as a petrol tanker fell at the popular Library Junction in I...
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Customs CG, DSS boss at loggerhead over $25,000 ship levy
30 December 2016, Sweetcrude, Lagos — The heads of two key federal agencies who are also close allies of President Muhammadu Buhari are at ...
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Naira among four worst global currencies in 2016
30 December 2016, Lagos – The naira is one of the world’s four worst performing currencies in 2016, according to a report by Bloomberg LP. ...
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Nigeria: Power generation hits 4,000MW
30 December 2016, Lagos – After hovering around 3,000 megawatts for about 10 weeks, the country’s total generated power crossed the 4,100MW...
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Two jailed for vandalising BEDC facilities
30 December 2016, Warri – A Magistrates’ Court in Koko, near Sapele, Delta State on Wednesday sentenced two persons, Friday Tega and Tega A...
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Aviation fuel scarcity, harmattan disrupt flights
*Passengers, Airlines count their losses 30 December 2016, Abuja — Airlines and passengers are counting their losses as the high cost of av...
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NNPC says airlines can’t pay for aviation fuel
30 December 2016, Abuja – The Nigerian National Petroleum Corporation on Thursday said the hardship in the aviation sector was not due to t...
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South Africa increases petrol price by 4 per cent
30 December 2016, Lagos – The South Africa Energy Department says its retail price of petrol would rise by 4 per cent from Jan. 4. In a sta...
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NNPC shops for new investors for Brass, OKLNG projects
30 December 2016, Abuja —The Nigerian National Petroleum Corporation, NNPC, has said it would invite new investors to partner with it in th...
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Oil, metals post stellar 2016 gains on output cuts, demand hopes
30 December 2016, Singapore — Crude oil, rubber and metals are set to end 2016 with strong gains, bouncing back from several years of losse...
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Kachikwu urges Nigerians to see positive side of recession
29 December 2016, Abuja – The Minister of State for Petroleum, Dr. Ibe Kachikwu, has urged Nigerians to exploit the opportunities offered b...
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Generator fume kills health officer, wife in Abia
29 December 2016, Umuahia – The Abia State Police Command on Thursday confirmed the death of an environmental health officer in Aba South L...
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Nigeria loses N94bn to gas flaring in four months
29 December 2016, Lagos – The country lost at least N94bn in four months as oil and gas companies flared a total of 87.03 billion standard...
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NERC fines Afam Power, Eko Disco N66.6m
29 December 2016, Abuja – Following their failures to submit audited financial reports for 2013 and 2014, Afam Power Plc and the Eko Electr...
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Power generating firms perform below 30% – Report
29 December 2016, Lagos – The combined performance of all the privatised thermal power generating stations in the country was less than 30 ...
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Magboro community gets electricity after 10 years outage
29 December 2016, Lagos – Magboro community on the Lagos/Ibadan Expressway, popularly referred to as “Second Lagos’’, unexpectedly had elec...
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Eight power firms reject 1,337MWH despite poor supply
29 December 2016, Abuja – Eight power distribution companies rejected 1,336.75 megawatts-hour of electricity, representing 19 per cent of t...
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Investors meet in January 2017 over Brass LNG
*Cost of Brass project, gas trains scaled down *Uncertainty dogs OKLNG 29 December 2016, Lagos — The chief executives of the Nigerian Natio...
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Nigeria: External reserves fall by $4bn in one year
29 December 2016, Lagos – Despite the staggering crash in the value of the naira against the United States dollar and other major foreign ...
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Total empowers youths in Kaduna
29 December 2016, Lagos – – Total Nigeria Plc has announced the conclusion of its skills acquisition programme in Makera and Kakuri distri...
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Nigeria’s oil sector worse off despite price rise
29 December 2016, Lagos – As the year draws to a close, the nation’s oil and gas industry is worse off despite the rally in global crude pr...
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Naira reverses gain, drops to 490/dollar
29 December 2016, Lagos – The naira fell against the United States dollar from 485 to 490 at the parallel market on Wednesday, reversing pa...
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$1.1bn Malabu deal: World anti-graft watchdog writes Nigerian govt
*Hails FG for confronting corruption headlong *As Italy moves to try Etete, other 29 December 2016, Abuja – For having the boldness to pres...
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ExxonMobil: New gas discovery at Papua New Guinea well
29 December 2016, Houston — Exxon Mobil Corporation announced Wednesday a new natural gas discovery in the Papua New Guinea North Highlands...
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Oil in 2017 seen capped below $60/barrel by strong dollar, U.S. shale
29 December 2016, Bengaluru — Oil prices will gradually rise toward $60 per barrel by the end of 2017, a Reuters poll showed on Thursday, w...
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Malabu deal: Global Witness claim $523m paid to ex-President’s fronts
29 December 2016, Lagos — A United Kingdom based anti-corruption group, Global Witness has alleged that about $523 million of the $1.1billi...
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Oil steady as rise in U.S. inventory slows upswing
29 December 2016, London — Oil prices steadied on Thursday after a surprise increase in U.S. inventories helped stall an upward trend that ...
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U.S. refiners face severe labour shortage for deferred maintenance
29 December 2016, London — After years of running flat out, U.S. Gulf Coast refiners are lining up repairs to plants in 2017 – but facing a...
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Naira weakens to N490/$ at parallel market
28 December 2016, Lagos – The Naira on Wednesday weakened to N490 to a dollar at the parallel market after appreciating to N485 to a dollar...
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Nigeria: Consumer price index rises by 92% in 2016
28 December 2016, Abuja — The Consumer Price Index (CPI), which is used to gauge inflation in Nigeria, increased significantly by 92 per ce...
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NAICOM threatens to sanction violators of local content policy
28 December 2016, Lagos —The National Insurance Commission, NAICOM, has threatened to sanction insurance operators that contravene local co...
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Malabu Oil Deal: Etete queries govt’s decision not to prosecute IOCs
*Denies wrongdoing, insists $1.1bn transaction was legitimate 28 December 2016, Abuja — A former Minister of Petroleum Resources, Chief Dau...
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Oil holds near annual peaks, awaiting OPEC cuts, supply data
28 December 2016, New York — Crude oil prices edged up for a fourth consecutive session on Wednesday, close to their highest levels since m...
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Lagos - Improved margins and freight rates have boosted price offers for both heavy and sweet West African crude oil as at Friday, November ... -
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