Angola: Coronavirus – Nigeria, Angola, Senegal, Cameroon, Ghana Among the Most Hard-Hit As Oil Price Plunges

African oil-producing and reliant countries have been among the most hard hit by the COVID-19 pandemic and declining oil price. Oil price crashed below $20 dollars on Monday, the <a target=”_blank” href=”https://www.premiumtimesng.com/business/385029-coronavirus-more-troubles-for-nigeria-as-oil-price-crashes-below-20-lowest-in-18-years.html”>lowest in 18 years.</a> In particular, Senegal, Nigeria and Angola continue to face new challenges each day amid the threat of economic fallout. Angola […]

Nigeria has 2.68b litres of petrol in stock, NNPC says

• Allays fear over scarcity The Nigerian National Petroleum Corporation (NNPC) yesterday, said the country has nothing less than 2.68 billion litres of Premium Motor Spirit (PMS) or petrol in-country and marine storage to meet daily demand in the country. Allaying fears of the product’s scarcity, Group General Manager, Group Public Affairs Division, Dr. Kennie […]

‘How shortage of gas will cripple power generation in Nigeria’

Amid rising tension from the outbreak of Coronavirus pandemic and the shrinking activities across oil fields, there are indications that Nigerians may end up in darkness due to shortage of gas. The Transmission Company of Nigeria (TCN) had informed that the power sector has in the past weeks continued to experience power supply shortage due […]

Nigeria earned $32.63bn from oil and gas in 2018 – NEITI

Nigeria earned a total of $32.63 billion from the oil and gas sector in 2018, a 55 per cent increase on the $20.99 billion recorded from the sector in 2017. The information is contained in the latest oil and gas industry audit conducted by the Nigeria Extractive Industries Transparency Initiative (NEITI), which has also announced […]

Nigeria begins lockdowns but demand for its crude continues to dwindle as run cuts rise

Demand was limited on Monday and supply risks in Nigeria rose as oil-rich states began to institute lockdowns. A West African industry source said that disruptions to oil installations in Nigeria were increasingly likely as states in the oil-rich delta region progressively shut down. Rivers state closed all its borders and imposed a curfew last […]

Nigeria: Power Supply Drops to 3,899mw Over Sustained Gas Shortage

Despite the claim by the Transmission Company of Nigeria (TCN) that gas shortage to power generating plants would only last for 10 days from March 8, THISDAY finding has shown that the crisis is still lingering. Consequently, the volume of electricity allocated to the 11 distribution companies (Discos) from the national grid last week dropped […]

NNPC, Total, Aiteo 31 oil firms donate $30m to fight COVID-19 in Nigeria

…Oil marketers donate N120m, ventilators, coveralls, others The Nigerian National Petroleum Corporation (NNPC) and 33 oil and gas companies, Friday, donated $30 million, about N11.4 billion to the Federal and state governments to fight the spread of the Coronavirus (COVID-19) pandemic in the country. Addressing newsmen in Abuja, Group Managing Director of the NNPC, Mallam […]

CHGC Partners Rivers State To Develop Natural Gas

Central Horizon Gas Company (CHGC), a leading natural gas distribution company in Rivers State, has partnered the Rivers State Government to develop natural gas for the state industrialisation agenda. The gas company said it is working with Rivers State Ministry of Energy and Natural Resources to identify opportunities for socio-economic development and widespread industrialisation through […]