The African Energy Chamber’s Local Content Committee has reiterated the crucial place of local content development in Africa’s economic recovery.

The Chamber in its first meeting with the Local Content Committee on Tuesday, said local content development is at the core of Chamber’s activities.

It noted that…

Asharami Synergy, a Sahara Group Downstream Company has launched the “Value for money” campaign to give all classes of customers and consumers convenient access to safe, reliable, and top-quality diesel.

News report quoted Asharami Synergy Energy Acting CEO, Foluso Sobanjo, saying the campaign will reinforce the gold standard in diesel…

San Leon Energy, an independent oil and gas production, development and exploration company, is investing US$7.5 million by way of a loan to Decklar Petroleum, the local subsidiary of Asian Mineral Resources, listed on the Canadian TSX Venture Exchange.

Decklar is the holder of a Risk Service agreement (RSA) with…

The Department of Petroleum Resources (DPR), says with five refinery plants built across the country and seven in the making, Nigeria will be a net exporter of petroleum products in the next two years.

Addressing minister of information and culture, Alhaji Lai Mohammed who paid a working visit to the…

India state-owned engineering major Bharat Heavy Electricals Limited is executing a solar-powered mini-grid project in the Kaduna State of Nigeria, in consortium with Skipper Electricals (India) Limited.

The company has invited bids for the supply of hybrid solar inverter-cum-charge controllers of ratings 5 kW, 10 kW, and 15 kW for…

Africa Oil Corp., a Canadian oil company has confirmed that it has received its fourth dividend from Prime Oil and Gas B.V, a company that holds interests in deepwater Nigeria production and development assets.
Prime has distributed a US$50 million dividend with a net payment to Africa Oil of US$25 million related to its 50%…

Nigerian based energy firm, Lekoil Ltd, is shopping for about $100 million to enable it commence the drilling of its Ogo oilfield.

Reports said company is seeking new funding after it discovered that the former one it thought was from the Qatar Investment Authority (QIA) was a "complex facade".

The Minister of Petroleum Resources, Timipre Sylva has said that the proposed Petroleum Industry Bill (PIB) should include the significant lowering on onshore taxes for new investments and for existing operations.

He said the authorities are "not unmindful" that the industry players are of the view that the current level…

...NNPC pays N5.4bn as subsidy in June

There are indications that Nigeria's petroleum pricing formula may have broken down as the Nigerian National Petroleum Corporation, (NNPC), said last Sunday it incurred N5.35 billion as under recovery in June 2020.

Under-recovery, also known as subsidy, occurs when the…

The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote, has explained why firms with Nigerian Local Content commitment are preferred to their foreign counterparts who are just arriving to the scene.

Speaking during a webinar, Wabote stated that the implementation of the Nigerian…