The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) on Wednesday urged the Nigerian government to consult widely over the proposal to convert the Joint Venture Contracts (JVC) in the oil and gas industry to Incorporated Joint Ventures Company (IJVC). Highlighting the merits and demerits of the two options, the Commission said it was necessary to […]
Crude oil futures dropped on Thursday after official inventory reports indicated a larger-than-expected build in U.S. oil stocks. Crude inventories in the United States rose by 5.3 million barrels in the week to Nov. 11, compared with expectations for an increase of 1.5 million barrels. The climb in inventories was mainly due to higher imports […]
Foreign and indigenous firms operating in the Nigerian oil and gas industry will have to install electronic surveillance gadgets on their facilities in a bid to curb the vandalism of oil installations across the country. This was one of the highlights of conclusions at a two-day stakeholders’ consultation on the draft National Gas Policy and […]
The Nigerian National Petroleum Corporation (NNPC) has invited local and foreign firms to bid for contract for the sale and purchase of Nigerian crude oil grades in 2017. The Corporation in a tender notice issued yesterday said it will give special consideration to companies that own refineries that can process Nigerian crude, indigenous oil and […]
The Transmission Company of Nigeria (TCN) on Friday wheeled out about 4,362 megawatts of generated electricity to the 11 distribution companies as the country’s power supply stabilises. The News Agency of Nigeria (NAN) reports that the power generation data was obtained from daily forecast on the Nigerian Electricity System Operator (SO) website. The website shows […]
Kano and Kaduna state governments have concluded plans to generate electricity from solid waste. Environmental officials in the two states gave the indication in separate interviews with the News Agency of Nigeria (NAN). Malam Ahmed Salihu, Director of Environment, Kaduna State Ministry for Environment, said that plans to generate electricity from domestic waste had gone […]
Less than 24 hours after it attacked a crude oil delivery line supplying products to the Ughelli Quality Control Center, QCC, the Niger Delta Greenland Justice Mandate, NDGJM, Friday night said it has bombed the Oviri-Ogor delivery line to the QCC operated by the Nigeria Petroleum Development Company, NPDC and Shoreline, Ughelli North Local Government […]
Cash-strapped Nigeria’s Federal Government is demanding $635million from two multinational oil companies, Agip and Total for undeclared crude oil shipped out of the country between 2011 and 2014. wo cases have been filed at the Federal High court in Lagos by senior lawyer and Senior advocate of Nigeria, Professor Fabian Ajogwu, who had handled several […]
The nation’s power generation fell by over 1,000 megawatts as four power plants were down on Saturday, bringing the total number of plants not generating electricity at the moment to 10. The nation recorded a total system collapse on Friday, September 16, 2016, the 17th time this year, industry data obtained by our correspondent on […]
Residents in Lagos, domiciled within the Ikeja distribution companies network, IKEDC, have expressed deep appreciation to the government for the improvement in power supply even as they called on the consumer units of the various DISCOs to be alive to their responsibilities by responding swiftly to complaints. In a random interviews conducted by Independent, it […]