The Nigerian National Petroleum Corporation (NNPC) has confirmed that Nigeria reduced its spending on oil and gas assets being developed through joint ventures (JV) with private firms by 61.83% in July.

The NNPC represents the Nigeria Federal Government in the JVs. The company has an obligation to make cash call…

The Gas Aggregation Company Nigeria Limited has said that its decision to review existing agreements used in transactions within Nigeria’s domestic gas market will not lead to hike in prices of gas.

GACN in a statement on Tuesday said that the review was meant to reflect modern realities in the…

The Minister of State, Petroleum Resources, Mr. Timipreye Sylva, has said that in order to cushion the effect of the removal of petroleum subsidy on Nigerians, the Federal Government is as fast-tracking the nationwide roll-out of cleaner and cheaper alternative to premium Motor Spirit (PMS), also known as petrol, such as liquefied Petroleum…

Joint venture partners DG, Petroci Holding and Sahara Energy are constructing one of the largest liquefied petrol gas (LPG) in Africa following a joint venture agreement in Cote d’Ivoire.

The 12,000MT LPG storage facility will guarantee LPG supply security in the West African country.

The proposed storage…

President of the Senate, Ahmad Lawan, has said for the African Continental Free Trade Agreement to yield expected results, same must be backed by requisite legal frameworks, right policies, and robust implementation.

He made this known when he received a visiting delegation from the African Continental Free Trade Area secretariat,…

Following the failure of the Federal Government to reverse the increase in the electricity tariffs and pump price of petrol organized labour movement in the country said will commence strike and nationwide protest across the country from September 28,

The Nigeria Labour Congress and the Trade Union Congress said they…

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has raised an alarm that international investors were losing confidence in Nigeria’s oil and gas industry due to the absence of a stable fiscal environment, which…

Petroleum Products Pricing Regulatory Agency PPPRA has disclosed that the Federal Government has spent a total of N8.94 trillion on oil subsidy between 2006 and 2015. This was disclosed in a document on subsidy payment released in Abuja on Tuesday.

It said that the subsidy was paid to oil marketers…