SEPLAT taps top banker, accountant Onwuka, as finance chief, ED

July 11, 2020

Banker was GMD of acquired Diamond Bank in heyday Seplat Petroleum Development Company Plc, the dual Nigerian Stock Exchange and London Stock Exchange listed Nigerian indigenous oil and gas company, has tapped top Nigerian banker and accountant, Emeka Onwuka, as its chief financial officer and executive director, the company announced at the weekend. Onwuka once […]

Atlas Petroleum resumes mining at OML 109 Ejubele marginal field

Ben EguzozieJuly 9, 2020

14 mapped prospects Field holds 500mb oil equivalent Atlas Petroleum International, the Nigerian indigenous oil production company, with operation in 12 African countries, has announced resumption of oil mining activities and well interventions on oil morning lease (OML) 109 in Nigeria, which would enhance production from the Ejulebe marginal field. The oil block was awarded […]

New fuel price band signals Nigeria’s gradual exit from subsidy regime

Phillip IsakpaJuly 1, 2020

After decades of an opaque, flawed and corruption-laden petrol subsidy regime, a new pump price band advised by the Petroleum Products Pricing Regulatory Agency (PPPRA) that will see petrol price move from N123.50 to between N140.80 and N143.80 per litre this July, is being seen as Nigeria finally signalling its willingness to allow the market […]

Oil prices drop on prospect of returning Libyan supplies

June 30, 2020

Oil prices drop on prospect of returning Libyan supplies

Oil prices fell on Tuesday amid rising COVID-19 cases and a possible return of Libyan oil production, which has been down to a trickle since the start of the year. The more-active September contract for Brent fell 60 cents, or 1.43%, to $41.25 a barrel by 1349 GMT, paring Monday’s 92 cent gain. The August […]

We won’t give up petrol pricing control function –PPPRA

June 29, 2020

EIA reports hefty oil inventory build

The Petroleum Products Pricing Regulatory Agency (PPPRA) has said it does not intend to give up its petrol pricing control function amid calls by operators in the oil and gas sector for it to do so. The PPPRA said it does not arrive at petrol controlled price alone. adding it does this in concert with […]

NNPC records trading deficit of N9.53bn in March

June 25, 2020

1,000 NNPC graduate trainees begin work on Monday

As the global oil market reels under the impact of low price regime and production cost agreed upon by OPEC and OPEC+ members, Nigeria’s national oil company, , said it recorded an operational loss of N9.53bnin March 2020. The loss reverses the steady growth trajectory of the corporation’s revenue since the last quarter of 2019. […]

Miners’ union to work with FG, agencies to tap solid minerals for GDP growth

Ben EguzozieJune 25, 2020

…inaugurates Rivers chapter Minerals sector workers under the Miners Association of Nigeria (MAN), Rivers state chapter say they are poised to collaborate with the Federal Government and relevant agencies to harness the solid minerals sector, considering the vast potentials of the sector to contribute to the nation’s gross domestic product (GDP). This is especially at […]

Households, firms to pay more for electricity from July – FG

June 16, 2020

Power distributors sue FG over business interference

Effective from July this year, electricity consumers in the country will start paying more for the service.  Sale Mamman, power minister, told the senate on Tuesday the Federal Government told the Senate Tuesday that the infrastructural deficit in the power sector could only be fixed when the electricity companies have enough money to invest in […]