Category Archives: Oil & Gas

Traditional rulers and stakeholders in Ilaje Local Government Area of Ondo State, have firmly rejected the claim by traditional authorities from Ogun Waterside that the oil-rich Eba Island belongs to Ijebu axis of Ogun State.They described the claim as historically inaccurate and a distortion of long-established administrative, traditional, and geographical facts that had defined theContinueContinue reading “Ondo traditional rulers vow not to cede oil rich Eba Island to Ogun”

The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of petrol also known as  Premium Motor Spirit (PMS) following the recent decision by Dangote Refinery to lower its gantry price.Checks on Wednesday showed that NNPCL retail outlets in Abuja and surrounding areas adjusted their petrol price to N1,165 per litre, down fromContinueContinue reading “Just In: NNPCL lower petrol price after Dangote refinery’s price reduction”

President Bola Tinubu on Thursday announced the successful conclusion of a historic settlement agreement between the Federal Government of Nigeria, ENI, and Nigerian Agip Exploration Limited (NAEL).The announcement was made at the meeting in his office attended by the Chief Executive Officer of Eni, Claudio Descalzi; the Chief Operating Officer, Guido Brusco; the Head ofContinueContinue reading “Tinubu resolves 15 year-old OPL245 dispute, unlocks major deepwater investment”

The Ondo State Oil Producing Areas Development Commission (OSOPADEC) is currently embroiled in financial scandal as the commission’s Secretary, Mrs Abike Bayo-Ilawole allegedly diverted the sum of N463 million from project accounts to personal accounts.Leaked documents by some aggrieved staff of the commission revealed that part of the money was warehoused in personal accounts ofContinueContinue reading “Leaked document on how OSOPADEC Secretary allegedly diverted N463m project fund”

An enhanced gas supply deal that will ensure adequate supply to meet ongoing expansion projects by Dangote Group has been signed by the Dangote Industries Limited (DIL) and the Nigerian National Petroleum Company Limited (NNPCL).The deal saw three subsidiaries of DIL – Dangote Petroleum Refinery, Dangote Fertiliser Plant and Dangote Cement Plc – scaling upContinueContinue reading “Dangote, NNPCL seal gas supply deal”

The Ogun State Government has reaffirmed its territorial jurisdiction over Eba Island in Ogun Waterside Local Government Area of the state.A statement by the Special Adviser to the Governor on Information and Strategy, Kayode Akinmade, on Sunday, dismissed claim of ownership by the Ondo State Government, describing it as misleading and capable of triggering avoidableContinueContinue reading “Ogun insists on ownership of oil-rich Eba Island, caution Ondo over misinformation”

The Atijere Development Association says the oil field on Eba Island falls within Ondo State and not part of Makun-Omi in Ogun State. In a statement on Sunday, the association described the claims that the oil field falls within Ogun State  as “false, misleading and unsupported by facts,” warning that such assertions could heighten inter-stateContinueContinue reading “Ondo group disputes Ogun ownership of oil rich island”

The Nigerian Independent System Operator (NISO) has announced a “notable” improvement in power generation following the repair and restoration of the vandalised Lagos-Escravos gas supply infrastructure.According to the statement by the Operator, the repair was carried out by the Nigerian Gas Infrastructure Company (NGIC), which it said had enhanced gas supply to several key thermalContinueContinue reading “FG announces improved power supply after gas pipeline repairs”

President Bola Ahmed Tinubu has forwarded to the Senate the names of two nominees for confirmation as chief executives of Nigeria’s Oil and Gas Regulatory Agencies following the resignation of their current heads.The President nominated Oritsemeyiwa Amanorisewo Eyesan as Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and Engineer Saidu Aliyu MohammedContinueContinue reading “Breaking: Tinubu nominates heads for NUPRC, NMDPRA as Ahmed, Komolafe Resign”

There is wide jubilation as the Dangote Petroleum Refinery has once again reduced its petrol gantry price, lowering the ex-depot rate from N828 to N699 per litre.Real-time market data published on Petroleumprice.ng on Friday showed that the refinery implemented another major downward review, cutting the Premium Motor Spirit benchmark price by N129 per litre, aContinueContinue reading “Just In: Dangote refinery reduces fuel depot price”