Nigeria: Dangote – We Should Pray Oil Prices Stay Low
Africa’s richest man, Aliko Dangote, has told a packed room in New York that he is hoping that oil prices will remain low to wean Nigeria away from its dependence. He said agriculture should be the focus of government, as...
Nigeria loses N96bn to gas flaring in five months
Oil and gas companies operating in the country flared a total of 108.91 billion standard cubic feet of natural gas in the first five months of the year, causing the country an estimated loss of N95.8bn. The latest data obtained...
Portugal Books NLNG Cargo For August 26th
REN-operated Sines LNG import terminal in Portugal is to receive a new cargo of the chilled fuel from Nigeria, LNG World News reports. The cargo will be delivered from Nigeria LNG’s Bonny Island liquefaction plant onboard liquefied natural gas carrier LNG Benue...
‘Why Cooking Gas Price Has Not Crashed in Nigeria’
The President of the Nigerian Liquefied Petroleum Gas Association (NLPGA), Mr. Dayo Adeshina has explained that the price of Liquefied Petroleum Gas (LPG), better known is cooking gas has not crashed to the expectations of Nigerians because infrastructural challenges have...
BREAKING: FG Emerges With New Petroleum Policy
LAGOS—The Federal Government has emerged with a new National Petroleum Policy, targeted at bringing about restructuring, new legislation and value addition in the oil and gas industry. The policy, which has already been approved by the Federal Executive Council, defines...
Nigeria To Shake Off The Shackles Of Oil
Nigeria is now saying that “era of oil booms” may be over—for good. According to its national petroleum policy approved this week by the federal executive council, the country plans to cut its oil exploration costs and move away from...
OPEC Caps Nigeria’s Oil Output At 1.8m bpd
The Organization of Petroleum Exporting Countries (OPEC) yesterday approved the capping of Nigerian oil production at 1.8 million barrel per day (bpd). Accordingly, OPEC called on several members to boost compliance with production cuts to help clear excessive global stocks...
Nigeria Has Let Its Economic Crisis Go to Waste
The term “dead cat bounce” derives from the fact that even a dead cat will bounce if it falls from a great height. If you imagine a dead cat soaked in crude oil and dropped from a 50-storey building, you...
FG To Save $1.5bn Annually On Nigerian Gas Project
The federal government would be saving about $1.5 billion annually if the Natural Gas Vehicles project, an initiative that was first introduced by Nigerian Gas Company, NGC, in 1989 is sustained The Project reportedly achieved a modest success with the...