The Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has put the country’s daily petrol consumption at between 45 million litres to 50 million litres. Its Chief Executive Officer, Mr Farouk Ahmed, disclosed this while speaking on the sideline of the ongoing 18th Africa Downstream Energy Week in Lagos. The 2024 OTL Africa Downstream Energy…
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobri is looking towards Kogi State for petroleum exploration. He expressed the desire when the State Governor, Usman Ododo led a delegation on an official visit to the ministry in Abuja. “What we need to do is to do the requisite exploration work, and once…
The National Bureau of Statistics (NBS) said Nigerians spend an average N10,239.7 monthly on buying home cooking fuel, liquefied petroleum gas (LPG). Its report entitled: “Nigeria Residential Energy Demand-Side Survey (NREDSS), 2024, launched in Abuja by the Statistician-General of the Federation Adeyemi Adeniran, also said 19.4 per cent of households reported using LPG during the…
Chairman of Heirs Holdings Group, Tony Elumelu, has identified finance and energy pillars that are crucial to Nigeria’s lasting prosperity. Speaking during the third Anniversary of Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in Abuja, he lauded the transformative and bold initiative of NPRC’s Project 1 million barrel of oil (mbopd) initiative, and its impact on…
A group, the Nigerian Association for Energy Economics (NAEE) has blamed the country’s resource- curse syndrome on weak institutions and poor governance that have led to the inability of the country to transform her abundant human and natural resources endowment for the good of all. The group’s President, Dr. Hassan Mahmud, who spoke in Abuja,…
Upstream regulator, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said the country’s crude oil and condensate production dipped by 26,391barrels per day from 1.57 million barrels per day (mb/d) in August 2024 to 5.44mb/d. This was contained in its crude oil production report of September 2024. The data said in the period under review,…
After three years of shutdown over rampant theft and related damage, Nigerian independent producer Belemaoil Producing has resumed operations at Oil Mining Lease 55, Reuters reported on Monday, citing the company. Located about 40 km west of the Bonny oil export terminal, Belemaoil acquired OML 55 from Chevron Corp. in 2015. However, the company was…
Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has raised alarm over the surge in petrol prices in Lagos and Abuja, has warned the Federal Government of the dire consequences of a sharp increase in the pump prices of petrol in the country. NACCIMA said it will lead to the asphyxiation of…
Techno Oil Ltd has bagged the Bank of Industry (BoI) award for high ethical standards and integrity in their business operations.The company was honored alongside May & Baker, Emzor Pharmaceuticals, Poly Products Nigeria Ltd., Falcon Corporation Ltd., Lucky Fibre Ltd. and Dantata Plastics Ltd and other leading companies last week.The companies were lauded for repaying…
