PM News Nigeria

Electricity generation to hit 12,000mw by 2016

dr sam amadi

Dr Sam Amadi, Chairman, Nigeria Electricity Regulatory Commission (NERC), has said electricity generation nationwide would hit 12,000 mega watts before the end of 2016, He disclosed this on Monday in Minna at a town hall meeting. Amadi said that this would be made possible as the commission had issued licence to private power plant operators […]

Marketers urge FG to pay outstanding fuel subsidy claims

Obafemi Olawore Executive Secretary MOMAN

Obafemi Olawore, Executive Secretary, Major Oil Marketers Association of Nigeria, has pleaded with the Federal Government to pay marketers’ subsidy claims to avoid fuel scarcity. Olawore claimed that the outstanding subsidy claims stood at N53.6 billion. “As at April 1, we were still owed an outstanding of over N53.6 billion by government on subsidy which […]

NNPC denies rift between Yakubu and Alison-Madueke

Diezani Alison-Madueke: oil minister

The Nigerian National Petroleum Corporation (NNPC) has said that there is no rift between the Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, and the Group Managing Director of NNPC, Mr Andrew Yakubu The clarification was contained in a statement issued on Sunday by the Group General Manager, Group Public Affairs Division of NNPC, Mr Ohi […]

Oando pays ConocoPhillips another $25mn

crude oil barrels

Oando Energy Resources has paid another $25million dollars to US oil company, ConocoPhillips, as part of the moves to acquire the ConocoPhillips assets in Nigeria. The payment was a fulfilment of Oando’s promise late in March to pay additional deposit as the parties await the approval of Nigeria’s minister of petroleum, Diezani Alison-Madueke. The $25 […]

Total discovers oil in Cote d’Ivoire offshore

Total oil company

French oil giant Total on Thursday announced the discovery of oil in Saphir-1XB exploration well in the deep offshore west of Cote d’Ivoire in West Africa. “Drilled in an abrupt margin play, this first well is the first discovery in the San Pedro Basin, a frontier exploration area in Cote d’Ivoire. “ Having confirmed the […]

States back removal of oil subsidy

•Motorists queue to buy fuel at a filling station: fuel subsidy to go

The Federation Account Allocation Committee (FAAC) in Abuja on Tuesday took a decision to remove petroleum subsidy in the country. The Chairman of Finance Commissioners Forum, Mr Timothy Odah, said this when he briefed newsmen on the outcome of the FAAC meeting for the month of March in Abuja. Odah said at their last meeting, […]

Nigeria’s oil firm secures $255mn equity funding

Philip Ihenacho, CEO Seven Energy

Nigeria’s oil firm Seven Energy said on Tuesday it had secured $255 million in equity funding from global investors, including Singapore’s Temasek, to boost gas supply to the country’s ailing power sector. Industry operators often attribute shortage of gas for the generating plants as a major cause of Nigeria’s under-performing power sector. The company said […]

Log in | Designed by Gabfire themes