European refiners jostle for Nigeria’s Egina oil over high yields

Nigeria’s newest export crude, the medium sweet Egina, is proving popular with European refiners due to its high distillate yields, as output from the Total-operated field nears its full capacity of 208,000 barrels of crude oil per day. The Egina deepwater field, which was developed at the cost of $16 billion by French oil giant, […]

African trade agreement will boost electricity generation, supply, say GENCOs

The electricity generation companies, GENCOs, say they are optimistic the African Continental Free Trade Area (AfCFTA) agreement signed last Sunday in Niamey, Niger Republic by all heads of government of the African Union will boost power generation and supply in the continent. The companies, under the aegis of the Association of the Power Generation Companies […]

Eterna Plc looking to increase its retail footprint as it clocks 30

Eterna Plc is looking to scale up its presence in the Nigerian downstream oil and gas sector as the company celebrates its 30th year of operating in the Nigerian economy. Mahmud Tukur, chief executive officer of the company said the company plans 200 new retail outlets in the country in the next five years, which […]

Nigeria’s greatness depends on developing non oil sector – NEPC

Babatunde Faleke, executive secretary, Nigerian Export Promotion Council (NEPC), Thursday, said that for Nigeria to progress there is a need for the citizens to live as if the nation does not have crude oil for export. Speaking at NACCIMA Export Group’s 1-day interactive session, themed “Assessing and Analyzing Non-oil Export Prospect”, Faleke stated that Nigeria […]

Seplat reports 282% revenue growth in 1 year, becomes profitable

By Adesola Afolabi Seplat Petroleum Development Company Plc. listed on both the Nigerian Stock Exchange and London Stock Exchange, on Monday announced its un-audited first quarter results. The Nigerian independent oil and gas group reported a 282 per cent growth in Revenue from contracts with customers to N55.2 billion in March 2018 from N14.5 billion […]