By Seun Ibiyemi The Federal Government has approved a special production-linked tax credit for Shell Plc’s Bonga Southwest Aparo deepwater oil project in a fresh bid to attract billions of dollars in investment and boost Nigeria’s crude oil production. According to a Bloomberg report published on Tuesday, President Bola Tinubu approved fiscal terms granting Shell…
By Seun Ibiyemi Senator representing Edo North, Adams Oshiomhole, has criticised the Nigerian National Petroleum Company Limited (NNPCL) over the absence of its top officials at a committee hearing of the National Assembly, insisting that the state-owned oil company is not above the country’s democratic institutions. Speaking during the hearing, Oshiomhole said President Bola Tinubu…
By Seun Ibiyemi Dangote Petroleum Refinery has fixed the ex-depot price of Premium Motor Spirit (petrol) at $0.779 per litre, unveiling a new dollar-denominated pricing structure for refined petroleum products and effectively ending naira payments for fuel purchases. The revised pricing template, which took effect on Monday, also increased benchmark prices for Automotive Gas Oil…
By Seun Ibiyemi Nigeria’s crude oil production climbed to its highest level in more than six years in June 2026, as the country exceeded its Organisation of the Petroleum Exporting Countries (OPEC) production quota for the fourth consecutive month amid improved operational stability and fewer disruptions to oil infrastructure. Latest figures released by the Nigerian…
…Targets 13,000 homes, businesses By Seun Ibiyemi The Federal Government has commenced the construction of four solar hybrid mini-grid projects in Rivers State aimed at providing reliable electricity to more than 13,492 households, businesses and public institutions. The projects, with a combined capacity of 11.9 megawatts peak (MWp), are being implemented by the Rural Electrification…
By Seun Ibiyemi The Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, alongside top government officials, management of the Nigerian National Petroleum Company Limited (NNPCL), industry leaders, international delegates and strategic partners, visited the exhibition booth of Tantita Security Services Nigeria Limited at the ongoing NOG Energy Week 2026 Conference and Exhibition. During the…
…Says move signals deepwater revival By Seun Ibiyemi The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has welcomed ExxonMobil’s $1 billion investment in the Usan Infill Project located in Oil Mining Lease (OML) 138, describing the commitment as a major boost for Nigeria’s upstream petroleum sector and a catalyst for the revival of deepwater drilling activities….
By Seun Ibiyemi The Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Engr. Bashir Bayo Ojulari, has called for stronger collaboration across Africa’s energy industry, saying strategic partnerships are critical to unlocking the continent’s vast energy resources, attracting investment and driving industrialisation. Ojulari made the call while delivering the keynote address…
By Seun Ibiyemi Nigeria’s electricity export customers in Togo, the Republic of Benin and Niger Republic failed to fully settle their electricity bills in the first quarter of 2026, leaving an outstanding debt of $12.66 million, according to the Nigerian Electricity Regulatory Commission (NERC). The commission disclosed this in its 2026 First Quarter Report, stating…
By Seun Ibiyemi The Federal Government has intensified efforts to bring down the pump price of Premium Motor Spirit (PMS), commonly known as petrol, with independent petroleum marketers projecting that the product could sell for below ₦800 per litre if market conditions continue to improve. The renewed optimism emerged on Monday as the Federal Government…
