Oil, Gas and Energy

Different government security outfits operating across the country have recovered stolen oil worth N86.2bn in August, according to The Punch’s findings. A total of 16, 000 litres of diesel valued at N800/litre (N12.8m) were on Monday reported to have been recovered by members…

The combined bank borrowing to oil firms operating in the downstream and upstream subsectors of the Nigerian oil and gas industry was N5.93tn as of June 2022, according to data from the Central Bank of Nigeria. While operators in the downstream, natural gas…

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mallam Mele Kyari, yesterday poured cold water on calls for the legalisation of artisanal illegal refineries in the Niger Delta. Kyari, who spoke on the state-run Nigerian Television Authority (NTA)…

The National Bureau of Statistics says on a year- on-year basis, the average retail price per litre of household kerosene increased by 98.76 per cent in July 2022. This is according to the NBS National Household Kerosene Price Watch for July 2022 released…

State governors, on Thursday, raised concerns regarding the ownership of the new Nigerian National Petroleum Company Limited, its assets and liabilities. Consequently, the Chairman of the Council, Vice President Yemi Osinbajo, directed that a sub-committee be set up to liaise with the Federal…

One of Nigeria’s leading energy giants, Shell Petroleum Development Company of Nigeria Limited (SPDC) has disclosed that the Shell Group would not go ahead with the divestment of its interest in SPDC until the outcome of outstanding litigation against the exercise. The Head…

The Shell Petroleum Development Company has discharged five barrels of crude oil from its Trans Niger Pipeline into Bodo community in Gokana Local Government Area of Rivers State, following an operational failure. This was contained in a report of a Joint Investigation Visit…

Latest data on the amount spent in subsidising Premium Motor Spirit, popularly called petrol, seen in Abuja on Monday showed that the government subsidised the commodity with N1.593tn between January and June 2022. It was also gathered that the Nigerian National Petroleum Company…

Following the energy crisis that has engulfed Nigeria, especially the Federal Capital Territory (FCT) and other states, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has kicked-off plans to import the Automotive Gas Oil (AGO) diesel to cushion the scarcity, according to…

Shell Companies in Nigeria paid $986 million in corporate taxes and royalties to the Federal Government of Nigeria from its operations in 2021. This is even as the company spent over $800 million (about N333.6 billion) on contracts with Nigerian-registered companies in the…