The Dangote Petroleum Refinery and other petroleum marketers have reduced the prices of Premium Motor Spirit (petrol) across major depots in Lagos, Port Harcourt, Calabar and Warri, following a decline in international crude oil prices. The reductions were recorded in the latest depot price report published by Petroleumprice.ng, with the biggest adjustments seen in Lagos,...
Category: Energy
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Norway Plans To Mine Europe’s Largest Rare Earth Deposit By 2028
Norway’s government said it is aiming to deliver a plan by 2028, “at the latest,” to exploit Europe’s largest known rare-earth deposit, a scheme currently held back over environmental concerns. Located 150 kilometres (93 miles) south-west of the capital Oslo, the Fen Complex (Fensfeltet in Norwegian) is believed to contain 15.9 million tonnes of rare-earth...
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Nigeria, IEA Sign Agreement to Strengthen Energy Partnership
Nigeria and the International Energy Agency (IEA) have signed an agreement to strengthen cooperation on energy data, policy development and investment, Vice President Kashim Shettima said on Thursday. Shettima said the agreement was signed during a meeting with an IEA delegation led by its Executive Director, Fatih Birol, at the Presidential Villa in Abuja. Under...
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Nigeria Targets West Africa Energy Hub With Expanded Refining Capacity
The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, says Nigeria plans to expand its refining capacity and petroleum infrastructure to become West Africa’s leading energy and trading hub. Speaking at the West Africa Refined Fuel Market Conference in Abuja, Lokpobiri said Nigeria’s strategic location, large resource base and market size position it to...
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Dangote Rejects NNPC Bid For Higher Sake In Refinery
Aliko Dangote said his conglomerate rejected attempts by the Nigerian National Petroleum Company Limited to increase its 7.25% stake in the $20 billion Dangote Petroleum Refinery saying the group plans to list the refinery publicly and broaden ownership among Nigerians. Dangote, president of the Dangote Group, disclosed this during an interview with Nicolai Tangen according...
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Court Jails Nigeria’s Ex-Power Minister Saleh Mamman 75 Years for Corruption
Justice James Omotosho of the Federal High Court on Wednesday sentenced former Minister of Power, Saleh Mamman, to 75 years imprisonment over corruption linked to the Mambilla and Zungeru hydroelectric power projects. The judge convicted Mamman on a 12-count charge and ruled that the sentences would run consecutively. Justice Omotosho also ordered that the prison...
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FCCPC Backs Lagos Electricity Reforms Targeting Estimated Billing
The Federal Competition and Consumer Protection Commission (FCCPC) on Tuesday praised reforms introduced by the Lagos State Electricity Regulatory Commission (LASERC) aimed at reducing estimated billing and strengthening consumer protection in Lagos’ electricity market. In a statement signed by FCCPC Director of Corporate Affairs Ondaje Ijagwu, the commission said the reforms, outlined in LASERC’s 2025...
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Slovakia Scraps Diesel Restrictions After EU Warning
Slovakia said on Wednesday it would repeal restrictions on diesel sales, including higher prices for foreign drivers, after the European Commission warned the measures breached EU law. The government had introduced the rules in March, citing disrupted oil supplies through a pipeline via Ukraine as global energy prices surged amid conflict in the Middle East....
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Tinubu Nominates Tegbe As Minister Of Power
President Bola Ahmed Tinubu has nominated Mr Joseph Olasunkanmi Tegbe as Minister of Power, subject to confirmation by the Senate. The nomination, conveyed to the National Assembly in line with constitutional provisions, follows the resignation of former minister Adebayo Adelabu, who stepped down to pursue elective office. Tegbe, an indigene of Oyo State, brings over...