Oil, Gas and Energy

The Nigeria Extractive Industries Transparency Initiative (NEITI) has stated that Nigeria generated over 831.14 billion dollars in revenue from the oil and gas sector between 1999 and 2023. NEITI’s Executive Secretary,  Ogbonnaya Orji, stated this on Monday when he appeared before the Senate…

Oando Plc reported a 45 per cent increase in revenue to N4.1tn for the financial year ended December 31, 2024, compared to N2.9 trillion recorded in the previous year. The company’s unaudited financial statements, released on Friday on the Nigeria Exchange Limited, also…

The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) says petrol prices will crash down following the revival of the Port Harcourt and Warri refineries by the Federal Government. In a statement on Saturday, PETROAN National Public Relations Officer, Dr. Joseph Obele,…

A surge in Premium Motor Spirit sales has pushed MRS Oil Nigeria Plc’s pre-tax profit to N403.5 million for Q4 2024 in its recent financial statement, published on the Nigerian Exchange (NGX) on January 29, 2025. This marks a 60.67% decline from last…

The Nigerian National Petroleum Company (NNPC) Limited on Thursday launched five Liquefied Natural Gas (LNG) mini-plants in Ajaokuta, Kogi State. The five LNG mini-plants are PRIME LNG, NGML/Gasnexus LNG, BUA LNG, Highland LNG, and LNG Arete. These plants will take their feedstock, which is…

The Nigeria National Petroleum Company Limited said it uncovered a total of illegal refineries and pipelines in one across the Niger Delta. Nigeria recorded over 589 oil spills in 2024, most of which were caused by oil theft. A breakdown of the figures showed…

The  Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has commenced the rollout of gas licenses to qualified players in the sector, following frequent collapse of the national grid. The grid that has so far recorded one collapse this year after more than 10 incidents…

Oando Plc yesterday announced that its upstream subsidiary, Oando Energy Resources (OER), has been awarded operatorship of Block KON 13 in Angola’s Onshore Kwanza Basin, following a competitive bidding process organised by the Angolan National Agency for Petroleum, Gas and Biofuels (ANPG). Block KON 13 is…

Transgrid Enerco Limited, a consortium comprising Stanbic IBTC Infrastructure Growth Fund (SIIF), North-South Power Company Limited (NSP), and Axxela Limited, has acquired a 60 percent equity stake in Eko Electricity Distribution Company (Eko DisCo). BusinessDay’s findings showed the transaction represents the first market-driven…