The price of Premium Motor Spirits (PMS) will be on the upward march again, going by the discussion between the Federal Government and oil marketers. Officially, PMS (better known as fuel) sells for N165 per litre but it has gone as far as N250 per litre in several parts of Nigeria, including the federal capital, Abuja in recent weeks. On …

Oil marketers may embark on their proposed strike after the Sallah holidays, a situation that will compound the already perennial and troubling fuel shortages. Monday and Tuesday are government-declared rest days to observe the Eid-el-Kabir. Over the weekend, the Independent Petroleum Marketers Association of Nigeria (IPMAN) threatened to commence an action that would result in what it described as the …

Despite the insistence of the Federal Government that marketers should not sell Premium Motor Spirit (commonly known as fuel or petrol) for more than the official rate of N165 per litre, many filling stations across the country have increased the price to no less than N185. The government issued the warning to oil marketers on Tuesday, while advising the citizens against …

The Lagos State Ministry of Energy and Mineral Resources took a great stride on Tuesday in its ambition to achieve one Gigawatt (GW) of installed Distributed Photovoltaics (DPV) capacity by 2030 by organising a one-day workshop, in conjunction with the World Bank, to discuss the framework for the DPV implementation the state. The structure is proposed to capture a mix …

Lekoil Nigeria Limited has asked the court to punish Savannah Energy for contempt of court for proceeding with the Extraordinary General Meeting held on Thursday, 7th April 2022 despite an injunction issued by the court, and for encouraging the general public to discountenance the ‘BOUGHT’ court injunction. Chief Wole Olanipekun (SAN) appeared for Lekoil Nigeria Limited in the application filed …

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has blamed the sudden appearance of fuel queues in parts of Abuja on low load-outs at depots. In a statement on Monday by its Group General Manager in charge of Group Public Affairs Department, Garba Muhammad said the situation usually happened during a long public holidays. Nigerians returned to work five days …

The Aba Power Project, a member of Geometric Power Group, has launched a campaign against vandals of its assets in nine of the 17 Local Government Areas it serves in Abia State. According to the Managing Director, Mr Patrick Umeh, the campaign is also being mounted against criminals who steal critical components in distribution transformers, distribution infrastructure and also engage …

The Minister of State for Petroleum Resources, Chief Timipre Sylva, and his colleagues on the Board of the Nigerian National Petroleum Company Limited (NNPC Ltd.) have expressed satisfaction with the progress of work at the Port Harcourt Refinery, Rivers State, which is process 60,000 barrels per stream day (bpsd) into the market beginnning from the third quarter of next year …

The national electricity grid collapsed again on Friday evening, making it the third time within a month. Some power distribution companies confirmed the development in separate messages on that same day. The Abuja Electricity Distribution Company stated that the collapse had resulted in power outage in its area of operation, which covers Niger, Kogi and Nasarawa States as well as …

Shareholders of Lekoil Limited, the oil and gas exploration and production company with a focus on Nigeria and West Africa, have overwhelming approved the company’s option agreement entered into with Savannah Energy Investments. Out of the shareholders with a combined share capital of 437,462,857 ordinary shares, which represents 58 per cent of the issued share capital of the company, 82 …