Professor Barth Nnaji, the Minister of Power, has disclosed that that the Power Holding Company of Nigeria, the monopolist power supplier in the country, was owing over N88.44 billion on gas supplies. Nnaji made the disclosure at a public lecture in Abuja, said a statement by the minister’s special adviser, Cdon Adinuba. The lecture was [...]
European Union authorities announced Wednesday they have cleared a liquefied natural gas joint venture in Angola by BP, Chevron, Eni, Sonangol and Total. The European Commission gave its blessing having “found that the transaction would not raise competition concerns because of the joint venture’s moderate anticipated market share, the presence of a number of credible [...]
Petrol is being sold at N250 per litre in some parts of Bayelsa state, a major oil producing state and the home state of President Goodluck Jonathan. Officially, petrol costs N97 a litre. The development in Bayelsa, observers said, illustrate the gross incompetence of Nigeria’s rulers, in their inability to ensure that a state that [...]
Angola’s first liquefied natural gas tanker arrived Friday, as the country prepares to start shipping methane, the international consortium behind the scheme said. “The ship will undergo preliminary tests to dock and connect to the LNG plant,” said Angola LNG, which includes state-owned giant Sonangol as well as Chevron, BP, Total and ENI. Angola, Africa’s [...]
A joint team of Army and State Security Service (SSS) personnel has destroyed seven illegal refineries located along the creek of the River Niger. Col. Michael Durowaiye, the new Commander of the 302 Artillery Regiment, Onitsha, disclosed this in an interview with newsmen in Onitsha on Tuesday. Durowaiye said that the army received intelligence report [...]
Nigeria’s military has arrested 21 Ghanaians and five Nigerians for alleged oil theft as they operated two vessels in the country’s main crude-producing region, authorities said on Tuesday. The two vessels had a capacity of 650,000 metric tonnes of oil. A military spokesman said only one of the vessels was transporting oil at the time, [...]
The Petroleum Products Pricing Regulatory Agency (PPPRA) has suspended NIMEX Petroleum Ltd, an oil trading company from Switzerland, from supplying petrol to Nigeria. The Executive Secretary of the PPPRA, Reginald Stanley said that the Swiss firm refused to submit important documents on its shuttle vessels, which loaded from the mother vessel as well as its [...]
