Nigeria’s Oil and Gas Free Zones Authority has granted a Free Zone Enterprise Licence to Portland Gas Limited to establish a state-of-the-art Compressed Natural Gas (CNG) conversion and refilling center in the Onne Free Trade Zone, Port Harcourt, a move that will help to accelerate the country’s transition to cleaner energy. A statement explained that…
Nigeria’s crude oil production, including condensate, increased by 255,710 barrels to reach 1.8 million barrels per day in October, up from 1.54 million barrels per day in September 2024, marking a 16.56percent month-on-month rise. Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, disclosed this at the 42nd Nigerian Association of Petroleum Explorationists (NAPE)…
Oil prices turned positive on yesterday after falling by more than $2, despite U.S. crude stocks rising by more than expected, according to the Energy Information Administration (EIA). Brent crude oil futures were up 38 cents, or 0.5per cent, at $75.91 per barrel U.S. West Texas Intermediate (WTI) crude rose by 57 cents or 0.79per…
The National Petroleum Authority of Ghana says it is proposing to import refined petroleum products from Dangote Refinery to boost its energy security and sustain business cooperation with neighbours. Chief Executive Officer, NPAG, Dr Mustapha Abdul-Hamid, said this at the 2024 OTL Africa Downstream Energy Week in Lagos. Speaking as one of the panelists, Abdul-Hamid…
Seplat Energy‘s revenue hits N1.07tr Nigerian independent energy major, Seplat Energy PLC, has grown its revenue in nine months to N1.071trillion from N478.1billion year-on-year with cash generated from its operations rising to N633.8billion from N213.8billion y-o-year. With double listing on both the Nigerian Exchange (NGX) and the London Stock Exchange (LSE), unveiled its unaudited results…
The Federal Government has allocated in excess of $75 million for the advancement of Compressed Natural Gas (CNG) infrastructure to foster cleaner and more sustainable energy across the nation. The Special Adviser to President Bola Tinubu on Energy, Olu Verheijen, made the announcement at the 18th OTL Africa Downstream Energy Week in Lagos. The theme…
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…
