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Nigerian economy defied COVID-19 to gross N14.38 Trn in 2020, 2021 __NEITI
Sopuruchi Onwuka Despite the deleterious impact of the novel coronavirus disease popularly called COVID which shut down the global economy and neutralized oil prices, public enterprises and taxes mopped in significant N14.38 trillion in 2020 and 2021. The revenue performance…
Mr. Charles Nwachukwu is alternative dispute coordinator at NMDPRA
The Authority Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has appointed Mr. Charles Nwachukwu as the Coordinator of the Midstream and Downstream Petroleum Alternative Dispute Resolution Centre (MDPADRC). The MDPADRC was established pursuant to the…
FG urged to review operating terms with IOCs
Sopuruchi Onwuka Nigeria must restructure its petroleum asset lease administration and investment partnership patterns in the face of the prevailing push for energy transition or risk holding large stranded reserves by 2050 when significant demand shift from fossil energy is…
Refining capacity might outstrip crude production, Wabote warns
Sopuruchi Onwuka With capacity regeneration in the midstream petroleum industry in the country, the falling crude oil production capacity might turn Nigeria into a net importer of crude oil if concerted efforts are not speedily coordinated to boost petroleum liquids…
NLNG plants on maintenance not shut down
Sopuruchi Onwuka The Nigeria Liquefied Natural Gas (NLNG) Limited has declared that whereas its processing plants undergo routine maintenance for sustainable operations, it does not entail a total shutdown. The company was responding to a media report report on 12th…
TotalEnergies pledges 9.4 MW of renewable energy by 2025
Sopuruchi Onwuka French multinational energy major, TotalEnergies, has pledged to assist in meeting Nigeria’s electricity demand by adding significant 9.4 megawatts of supply through renewable sources. The company which has developed more oilfields in the past decade than any operating…
NNPC settles Total’s labour crisis, restores 275,000 b/d output
Following a peace deal brokered on Sunday by the Nigerian National Petroleum Company Limited, NNPCL, between the Management of Total Energies, operator of the NNPC/Total JV, the Petroleum and Natural Gas Senior Staff Association, (PENGASSAN) and the Nigeria Union of…
FG flaunts free zones to foreign investors
Minister of Industry, Trade and Investment, Doris Uzoka-Anite, has stated that foreign investors seeking space in the country would enjoy the fiscal incentives built into the numerous free trade zones around the country. The minister, according to a Bloomberg report…
Decarbonization to lower Nigeria’s electricity cost
Sopuruchi Onwuka Adoption of renewable electricity production technology for sustainable power supply will ultimately cut the cost of electricity in Africa’s biggest economy where renewable power supply is currently unpopular due to high cost of procurement and maintenance. Managing Director…
Nigeria losing Asian crude oil buyers to Russia
Sopuruchi Onwuka Trade sanctions by members of the European Union on Russia after its invasion of neighboring Ukraine has forced the key oil producer to slash prices to court rogue sales mainly from Asia where Nigerian oil grades now begin…
