Following the intervention of the Department of the of State Security Services, the Independent Petroleum Marketers Association of Nigeria (IPMAN) in South West has suspended the planned industrial action over incessant price increments as well as inconsistency in pricing regulations without consultation with stakeholders by the Petroleum Products Price Regulatory Agency (PPPRA).
.. as RunGas set to begin production of cylinders at Lekki Free Zone
The Nigerian Content Development and Monitoring Board (NCDMB), has disclosed that the country is developing various projects to promote commercialization and utilization of gas and the Board is supporting federal government’s vision in areas of Liquefied Natural Gas, LPG penetration by investing in RUNGAS to promote local production of gas cylinders in Polaku, Bayelsa State.
The Petroleum Technology Association of Nigeria (PETAN) has commended the Oilserve Ltd $2.8 billion Ajaokuta-Kaduna-Kano (AKK) Gas pipeline Project , affirming it as a Nigerian content milestone achievement.
Stakeholders in the oil and gas sector has once again raised fresh concerns over the outlook of Nigeria’s oil and gas fiscal regime, as efforts intensify on the passage of the Petroleum Industry Bill (PIB), which has been left hanging for over two decades.
The Nigerian National Petroleum Corporation (NNPC) has announced new appointments and redeployments in the National Oil Company, as part of ongoing efforts to strengthen and reposition NNPC for greater efficiency, transparency and profitability in line with the Next Level Agenda of President Muhammadu Buhari’s administration.
The World Bank has hinted that the unreliable power supply in Nigeria is causing huge economic losses, estimated at N10.1tn, yearly
The Nigeria Natural Resource Charter (NNRC) has called on the federal government to use the opportunity provided by the prevailing socio-economic situation nationally and globally to embark on complete overhaul of the country’s oil and gas sector, in particular the national oil company (NNPC) to make it both competitive and productive in line with international best practices.
The 55MW CCETC-Ossiomo Power Plant, recently completed in Edo State, to provide stable power to government buildings, other public utilities and local industries, is set to be expanded to a 550MW capacity gas power plant to be constructed in three phases.
The Nigerian government has said over N190 billion debts for energy generated and supplied to electricity consumers but not paid for is crushing operations at eight power plants built by the government under the National Integrated Power Projects (NIPP).
The impact of the COVID-19 pandemic is estimated to cost Nigeria and other oil exporters in Africa a total of about $34bn in revenue.