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Tag: Oil and Gas

Oil and Gas

Eni signs $8bn gas deal with Libya

Oluwanifemi Ojo   The chief executive of Italian energy company Claudio Descalzi, said on Saturday that Italian energy company and Libya’s National Oil Corporation have a gas production deal of $8 billion.   The National Oil Corporation in Libya, announced on Wednesday January 25 that it had reached a deal of $8-billion with ENI, Italian […]

Buhari unveils SDG financing framework
Oil and Gas

Buhari launches Pinnacle’s $1bn terminal at LFTZ

The President, Major General Muhammadu Buhari (ret’d) inaugurated the Pinnacle Oil and Gas FZE Terminal in Lekki Free Trade Zone of Lagos on Saturday saying the operations of the facility would ease congestion at the Apapa Port area. The President, in a video recording of the inauguration ceremony, said this new facility would reduce cost […]

How Kaduna spent N181.6bn 2022 budget nine months - Report
Oil and Gas

Why FG should privatise oil, gas sector – El-Rufai

Kaduna State Governor, Nasir El-Rufai, said the federal government has failed in the oil and gas and should hands-off the sector for revitalisation. El-Rufai decried the government’s failure in the oil and gas sector when he appeared on Channels Television’s Sunrise Daily on Thursday when speaking on the seventh edition of KadInvest According to El-Rufai, […]

Oil theft: PENGASSAN finger military, others
Oil and Gas

How FG can stop oil theft – EX-PENGASSAN boss

A former President of the Petroleum and Natural Gas Senior Staff Association of Nigeria, Comrade Peter Esele, has advised the federal government on how it can stop the challenge of oil theft in Nigeria. According to Vanguard, Esele who is a former president of the Trade Union Congress enjoined the federal government to adopting a […]

X to offer paid users xAI chatbot - Musk
Oil and Gas

World needs oil, gas to survive – Elon Musk

Tesla CEO and the world’s richest person, Elon Musk, has reiterated the need for continued efforts to raise oil and gas exploration in the world. Musk stated this while speaking at a conference in Norway on Monday, according to Forbes. Reuters reported that Musk argued that civilization will crumble if the world stops the use of oil […]

FG to end fuel subsidy in 2023 - Minister
Oil and Gas

Oil theft threatens Nigeria’s N9tn revenue – FG

The Federal Government has blamed pipeline vandalism, crude oil theft and high petrol subsidy cost, as it risks missing its N9.37tn oil and gas revenue target for the year. This was disclosed in the 2023-2035 Medium Term Expenditure Framework & Fiscal Strategy Paper recently presented by the Minister of Finance, Budget and National Planning, Dr […]

Nigeria gained $2.6bn from non-oil export six months
Oil and Gas

Oil demand rises as gas prices surge

Global oil demand will rise more than previously forecast this year as heatwaves and soaring gas prices are prompting countries to switch fuels for power generation, the International Energy Agency said Thursday. Oil prices have dropped by $30 per barrel from a peak in June due to growing supplies and “escalating concerns over the deteriorating […]

Gas flaring: Oil companies oppose FG’s penalties
Oil and Gas

Gas flaring: Oil companies oppose FG’s penalties

The federal government’s enforcement of penalties for gas flaring as contained in the Petroleum Industry Act 2021 has been opposed by some oil and gas companies in the country. According to The PUNCH, the stand comes as some of the companies commit to gas flare reduction. Speaking during a session at the ongoing 2022 Nigeria […]

Naira falls N777 against dollar after CBN announcement
Energy

Operators blame weak naira, others for energy crisis

Oil and gas operators have identified the devaluation of the naira, amongst other challenges, as the cause of Nigeria’s energy crisis. The PUNCH quoted the operators as saying that these concerns have prevented investors from investing in Nigeria. The operators made this known at the ongoing 2022 Nigeria Oil and Gas conference in Abuja. According […]

Nigerians bought petrol N191.65 per litre September- NBS
News

Nigeria can generate $200bn annually from non-oil revenue -Analyst

A financial analyst and Managing Director of Taurus Capital, Nnaemeka Obiaraeri, said Nigeria can service its debts and also generate $200 billion in annual revenue from non-oil proceeds. Obiaraeri said this when he was featured on Television Continental on Wednesday. He said, “Nigeria is broke, inevitably. Very very broke. If you look at the numbers. […]