Extend Local Content Act to other sectors – Oil, gas stakeholders tell NASS

August 2, 2022 Benjamin Umuteme Abuja 0

Stakeholders in the oil and gas industry have called on the federal government to extend the Nigerian Content Law to other sectors of the economy. According to them, adopting a bespoke approach which would consider the peculiarities of the various sectors intended to be covered would further open up the economy and create the much needed industrialization the country craves Read More

A case for gas in the energy transition

July 5, 2022 Abdulazeez Abdullahi 0

Gas is very important in the energy mix and remains a bedrock of a successful transition to a decarbonized energy sector. However, the potential of this natural resource is yet to be fully harnessed across the globe particularly on the African continent. For sure, the need for nations to explore their gas endowments in whether in Africa, Europe and other Read More

How Nigeria can end gas importation with CBN’s N250bn intervention

April 26, 2022 Tope Sunday Abuja 0

With over 206 trillion standard cubic feet of natural gas and intervention fund of N250 billion, oil and gas stakeholders in the country have called for a halt to importation of cooking gas otherwise called Liquefied Petroleum Gas (LPG). Amidst soaring price and disruption to gas market globally following the Russia and Ukraine war, Nigeria currently importover 55 per cent Read More

NNPC rakes in N348.63mn from oil, gas exports records 352% surplus

March 8, 2022 Blessing Anaro 0

The Nigerian National Petroleum Corporation (NNPC) realized N348.63 million from the export of crude oil and gas in September, 2021, recording a 353 per cent trading surplus during the period. Trading surplus stood at N37.50 million in September, compared to the N8.29 million recorded in August. Details of the figures contained in the September 2021 NNPC Monthly Financial and Operations Read More

Developing Nigeria’s gas potential’ll address power sector challenges – Sylva

March 4, 2022 Benjamin Umuteme 0

The Minister of State for Petroleum Resources, Timipre Sylva has said that Nigeria’s quest to develop its huge gas potential will address challenges in the power sector. In his keynote address at the Decade of Gas session of the 5th Edition of the Nigeria International Energy Summit (N.I.E.S 2022), Sylva, explained that when the country’s gas potential is enhanced, it Read More

Nigeria loses N379bn to gas flaring in 12 months

March 3, 2022 Segun Odunewu, Lagos 0

Data has revealed that oil and gas companies flared 260.3 billion standard cubic feet of gas (SCF) between January and December 2021. The monetary value of burnt gas in the international market is worth over N379.4 billion. These figures were released recently by the National Oil Spill Detection and Response Agency (NOSDRA). This wastage is coming against the backdrop of Read More

Gas, diesel, monetary funding of deficit aiding inflation – FBNQuest

January 26, 2022 Blessing Anaro 0

The persist spike in the price of Liquified Petroleum Gas (LPG), popularly known as cooking gas, the surreptitious increase of diesel price and the continuous funding of fiscal deficit by the monetary authorities will always fuel inflation rate, analysts at FBN Quest have warned. “We see from the National Bureau of Statistics (NBS) report on Liquefied Petroleum Gas (LPG) prices Read More

Gas remains top priority for Nigeria – Buhari

November 12, 2021 Abdullahi M. Gulloma 0

President Muhammadu Buhari Thursday in Paris, France, assured investors that investment in gas remains a top priority for the country, considering the huge benefits in terms of returns and utility. Receiving the Chief Executive Officer of Total, Patrick Pouyanne, President Buhari noted that Nigeria had made huge investments in gas, and will continue to create enabling opportunities for expansion, while Read More