By Michael Eboh Abuja — The Nigerian National Petroleum Corporation, NNPC, disclosed yesterday that Kaduna Refinery will resume the production of Premium Motor Spirit, PMS (petrol), within the next three months. This was even as NNPC stated that it had lifted the embargo earlier placed on 113 vessels, banning them from engaging in crude oil […]
Tag Archives: Nigeria
By Henry Umoru Abuja — The ongoing probe of the power sector from 1999 till date by the Senate ad hoc committee was characterized by drama and confusion yesterday, as the proceeding was disrupted by power failure eight times. Yesterday’s proceeding started at about 11:30a.m. and ended abruptly at 4p.m. due to about 15 minutes […]
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Photo: President Buhari guest column By Jean Herskovits Nationwide-wide electrical outages nearly shut down Africa’s largest economy before the inauguration of President Muhammadu Buhari in late May. But now the lights are on, the miles-long petrol queues are gone, and oil refineries, if not fully operational, are showing signs of life. Banks and automatic teller […]
Despite the controversies surrounding the Crude for Petroleum Products Exchange Agreements, better known as crude oil swaps, and Offshore Processing Agreements (OPAs), entered into by the Pipelines and Product Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC) and oil traders between 2011 and 2014, the corporation, the company has scored itself […]
By Chineme Okafor Abuja — The Niger Delta Power Holdings (NDPHC) Plc, which is handling the 10 National Integrated Power Project (NIPP) plants, on Thursday said that vandals attacked and cut its transmission lines and tower worth N40 million in Abia state. NDPHC also stated that the development has ensured that 1,397 megawatts (MW) of […]
By Collins Olayinka and Sulaimon Salau The Nigerian National Petroleum Corporation (NNPC) has cancelled contracts for supply of oil to refineries among other steps aimed at boosting operational efficiency. General Manager, Group Public Affairs Division, Ohi Alegbe, in a statement issued in Abuja yesterday said the new measures would strengthen the corporation across its value […]
By Isiaka Wakili The Federal Government has said that the monthly fixed charges component of the electricity tariff collected from Nigerian consumers is not “a very good thing”. The Permanent Secretary of the Ministry of Power, Ambassador Godknows Igali, stated this on Wedesday while addressing State House journalists after briefing President Muhammadu Buhari on the […]
The new head of Nigeria’s state oil firm has fired eight senior managers. His success or failure in turning around the wasteful oil sector could be a test of the resilience of President Buhari’s anti-corruption drive. It seems that Emmanuel Ibe Kachikwu, a former executive of Exxon Mobil and now head of the Nigerian National […]
Photo: New NNPC GMD, Emmanuel Kachikwu,right, takes over from Joseph Thlama Dawha. A few hours after his appointment was announced, the new Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Emmanuel Ibe Kachikwu, has assumed duty as the Chief Executive of the corporation. This is contained in a statement signed by Ohi Alegbe, […]
Source: Vanguard NGR
By Victor Edozie Port Harcourt — The representative of Odidi community in Delta State, Mr Anthony Richard, has said that about four persons were killed while 15,500 residents of the community were displaced in July oil spill that ravaged the community. Mr Richard disclosed this when the South South Zonal Coordinator of National Emergency Management […]
By Joshua Olufemi and Richard Akinwumi At least N11.55 trillion or $ 84.52 billion expected revenue into the coffers of the nation’s Excess Crude Account for the eight-year period from 2007 to 2014 are unaccounted for, according to findings by PREMIUM TIMES based on now available data from multiple government agencies not made public until […]
By Victor Edozie Port Harcourt — Members of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and National Union of Petroleum and Natural Gas Workers (NUPENG) have threatened to embark on industrial action to address what they called injustice meted to their colleagues who work with Arco Petroleum (Nig) Plc by the Nigeria […]
By Obinna Chima The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has disclosed the central bank’s resolve to lead the revitalisation of the oil palm sector in Nigeria in order to provide jobs for Nigerians. Emefiele, made the pledge after meeting with rice processing companies in Nigeria in Abuja at the […]
The International Energy Agency (IEA) on Friday, July 10, 2015, stated that oil prices may not have hit their lowest price yet, predicting that they would likely to last well into 2016. The agency added that the world oil market was unable to absorb the huge volumes of oil now being produced. It follows the […]
