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Naira closes week stronger at N1,534.72/$ 

CBN’s new diaspora remittance rules to open market

Business

Middle East conflict threatens Nigeria’s economy – Cardoso

Business

NNPCL targets 600tn cubic feet gas reserves expansion

Oil and Gas
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Tag: Gas

Price of of cooking gas rose by 13.75% in May 2024
Business

Cooking gas costs rise amid Dangote adjustment, crude oil surge

Fresh pressure is building on household energy costs as marketers on Monday warned that the price of Liquefied Petroleum Gas (cooking gas) may rise further after a fresh price adjustment by the Dangote Petroleum Refinery and shifting global crude oil trends. The Nigerian Association of Liquefied Petroleum Gas Marketers said retail prices have already surged […]

FG deducts N256.5bn for gas projects in six months
News

FG deducts N256.5bn for gas projects in six months

The Federal Government has deducted a total of N256.52bn from revenue allocations to finance gas infrastructure projects in the first half of 2025, according to official figures from the Federation Accounts Allocation Committee. The deductions were channelled into the Midstream and Downstream Gas Infrastructure Fund, set up to support projects that enhance natural gas transportation, […]

FG's 1,068 oil projects to generate $22.8bn investments
Oil and Gas

Nigeria’s gas production rises 2.2% in Dec 2023

Nigeria’s gas output increased by 2.2% in December 2023 compared to November 2023, when the country’s oil and gas companies produced 146.991 billion standard cubic feet of gas. The Times reported that this data was obtained from the Nigerian National Petroleum Company Limited. However, according to the NNPC, flares accounted for 7.75% of the 11.646 […]

NNPC, First E&P provide free healthcare in host communities
Oil and Gas

NNPCL attracts South Korean investors for gas projects

The Nigerian National Petroleum Company Limited has met with a South Korean consortium led by Daewoo E & C to discuss the development of gas projects in Nigeria. According to The PUNCH, NNPCL said in a statement issued in Abuja on Tuesday that the discussions in Seoul, South Korea, intended to strengthen the oil company’s […]

Nigeria, Morocco speed up talks on $30bn gas pipeline
Oil and Gas

Nigeria, Morocco speed up talks on $30bn gas pipeline

The Federal Government has stepped up talks with the Kingdom of Morocco in an effort to expedite the process of reaching a Final Investment Decision on the $30 billion Nigeria-Morocco Gas Pipeline. According to The PUNCH, both countries discussed the agreement on the sidelines of a meeting between the Minister of State for Petroleum Resources, […]

Cooking gas prices skyrocket by 114% in 16 months - Report
Energy

10 states with highest cooking gas price

The average cost of a 5kg cooking gas cylinder saw a national increase of 8.70%, rising from N4,565.56 in December 2022 to N4,962.87 in December 2023. This information was revealed in the December 2023 Liquified Petroleum Gas price watch report published by the National Bureau of Statistics NBS. Notably, the price of cooking gas showed […]

Tackle revenue crisis with gas production, Accountants urge FG
Oil and Gas

Tackle revenue crisis with gas production, Accountants urge FG

The Association of National Accountants of Nigeria urged the Federal Government on Friday to enhance investments in the production of liquefied natural gas, since gas revenues will aid Nigeria’s present income issue. According to The Punch, ANAN stated that this was critical due to the increased global demand for petrol, emphasizing that Nigeria had more […]

Optimera Energy establishes gas facilities in Lagos Free Zone
Oil and Gas

Optimera Energy establishes gas facilities in Lagos Free Zone

Optimera Energy LFZ Enterprise has begun development of infrastructure at the Lagos Free Zone to supply natural gas to zone businesses. According to The PUNCH, the Managing Director of Optimera Energy, Mrs Audrey Joe-Ezigbo, revealed during the zone’s groundbreaking event on Tuesday that the infrastructure included a 25 million Standard Cubic Feet per day City Gate Station, […]

Chinese, Nigerian energy firms sign $1bn gas flaring deal
Business

Chinese, Nigerian energy firms sign $1bn gas flaring deal

A Nigerian energy corporation, NIGUS International, has entered into a $1 billion agreement with Beijing Zhogmin Xinjunlong New Energy Technology corporation Ltd., a Chinese enterprise, to finance and promote gas flaring solutions in Nigeria. According to the News Agency of Nigeria, President Bola Tinubu issued a national directive that led to the signing of this agreement on […]

Gas production drops despite FG's N250bn intervention fund - Report
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Gas production drops despite FG’s N250bn intervention fund – Report

Last year’s natural gas production decreased even though fifteen companies received a N250 billion intervention fund. The Punch reported that the Energy Institute and KPMG jointly released an industry report stating that between 2021 and 2022, Nigeria’s natural gas production fell by 4 billion cubic feet meters. Gas production in the country, which was estimated to […]

Chinese, Nigerian energy firms sign $1bn gas flaring deal
Oil and Gas

Nigeria’s efforts to curb gas flaring stalled since 2015 – Report

The intensity of gas flaring in Nigeria has not changed since 2015 according to the International Energy Agency. The Times reported that the International Energy Agency said in its Oil and Gas Industry in Net Zero Transitions report, which was published on November 23, that while Nigeria has made significant efforts to lower the intensity of its flaring, […]

Gas production drops despite FG's N250bn intervention fund - Report
Oil and Gas

Gas revenue falls by N3trn in one year – Report

Data from the Energy Institute, a global professional organization for the energy sector, show that the Federal Government lost N3.3 trillion in gas revenue last year as a result of a decline in exports due to poor output. According to The Punch, in its most recent report on the Statistical Review of World Energy, which was […]

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