By Shakrullah Owolabi To address the lingering fuel scarcity occasioned by the imported adulterated petrol, the Nigerian National Petroleum Company (NNPC) Limited has announced the commencement of 24-hour operations in NNPC depots and retail outlets. The move according to a statement by NNPC Limited was to restore normal supply and […]
Energy
More Revenue For Nigeria As Oil Price Rises Above $90
…Price may hit $120/barrel By Shakrullah Owolabi Nigeria may surpass its oil revenue target for 2022 if the current oil price level of over $90 per barrel is sustained in the months ahead. The development signals more revenue inflow for Nigeria as this is about $35.44 a barrel over its […]
Outrage, Fear Over Influx of Contaminated Petrol into Nigerian Market
By Shakrullah Owolabi The importation of contaminated petrol by the Nigerian National Petroleum Corporation (NNPC) into the Nigerian market has sparked outrage among motorists and consumers. Some of the motorists who spoke to Borderless News also expressed fear of the possibility of the off-Spec fuel causing permanent damage to vehicle […]
FPSO Vessel Explosion: SEPCOL Confirms 7 Crew Members Missing, 3 Alive
By Shakrullah Owolabi The management of Shebah Exploration & Production Company Ltd (SEPCOL) in RECEIVERSHIP has confirmed seven crew members missing in last Wednesday‘s Floating Production Storage and Offloading(FPSO) vessel explosion. The exploded vessel belongs to Shebah Exploration & Production Company Ltd (SEPCOL) in RECEIVERSHIP. Recall that an explosion and […]
Egbin power plant resumes operation, boost supply with 220MW
By Shakrullah Owolabi The 1320 megawatt capacity Egbin Power Plant has resumed partial operations after it shut down over a fire incident that occurred on February 2, 2022. The Group Managing Director of Sahara Power, owners of the Egbin Power Plant, Mr. Kola Adesina, who gave the update in a […]
Power Supply Drops by 1, 320MW As Fire Rocks Egbin Power Plant
By Shakrullah Owolabi The country’s power generating capacity has dropped by 1, 320MW due to a fire outbreak at the nation’s largest power plant, Egbin Power Plc. Egbin is reported to be one of the largest power plants in Sub-Saharan Africa with an installed capacity of 1,320MW consisting of six […]
Industry regulator applauds Shell for investing in Nigerian gas infrastructure
By Olatunde Dodondawa Leading energy company, Shell Nigeria Gas (SNG), has received accolades from the industry regulators, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), for deliberate and active investment in Nigeria’s critical gas infrastructure to supply gas for powering industries in key locations in the country. The Chief Executive […]
Chevron posts $15.6bn best earnings since 2014
By Shakrullah Owolabi U.S supermajor, Chevron has posted full-year 2021 earnings of $15.6 billion, compared to a loss of $5.5 billion in 2020. The oil firm also booked strong cash flow from operations of $29.2 billion and record free cash flow of $21.1 billion last year. Chevron’s net oil-equivalent production […]
Nigeria may lose $6bn to oil theft in 2022
By Shakrullah Owolabi Nigeria may lose about $6 billion to oil theft in 2022. The gloomy news was disclosed by Socio-political analyst and commentator, Dr. Ugoji Egbujo, in an article titled, The Petrol Subsidy Quandary: The Devil or the Deep Blue Sea? Egbujo hinted that our parlous state is complicated […]
Eko Disco Launch Energy Club in Lagos Schools
By Olatunde Dodondawa Eko Electricity Distribution Company (EKEDC) on Monday launched Energy clubs in selected schools within its network, to encourage young girls to take opportunities in the power sector. The Club activities are expected to promote the interest of female students in Science, Technology, Engineering and Mathematics (STEM) disciplines, […]