Pipeline vandalism caused recent power outages –FG

The Minister of Power, Prof. Chinedu Nebo has blamed vandalism of gas infrastructure for about 22 percent drop in power supply experienced recently nationwide. Nebo...

Petrol consumption falls by 30% – FG

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, while formally handing over the position of Group Managing Director of the NNPC to Dr....

Eland Oil & Gas: Oil expected soon from idled Nigerian field

Eland Oil & Gas says it expects to start production at a field in Oil Mining Lease 40 in Nigeria using a facility that...

High diesel costs raise concern over petrol price sustainability

As oil marketing and trading companies hiked the price of diesel, citing the current scarcity of foreign exchange, concern has been raised on the...

DSS, NNPC move to recover N11bn from Capital Oil over illegal fuel sale

Following its conclusion of investigation into the sale without appropriate authorisation of 82 million litres of petrol valued at N11 billion by Capital Oil...

Nigeria will cut fuel importation by 2016 – Dangote

Africa’s richest man and President of Dangote Industries Limited (DIL), Alhaji Aliko Dangote, yesterday promised to reduce by 50 per cent the importation of...

Minister tasks experts on solution to gas pipeline vandalism

Minister of Power, Chinedu Nebo has challenged a forum of experts to identify and resolve the root causes of incessant interruption of gas supply...

India, Nigeria’s biggest oil buyer, begins to purchase crude from U.S.

India, Nigeria’s biggest oil destination, has started buying crude from the United States as it looks to diversify its sources of the commodity, Independent...

Agip forges ahead with plans for 150,000bpd refinery

The Nigerian Agip Oil Company (NAOC), a subsidiary of Italian oil major, Eni, said it had begun feasibility studies for the construction of a...

$8b crude oil swap deal: Reps summon Alison-Madueke, others

Minister of Petroleum Resources Diezani Alison-Madueke has been summoned by the joint Committee on Petroleum Resources (Downstream and Upstream) and Judiciary over the alleged...

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