26th - 30th May
FG rolls out CNG buses in 20 federal varsities.
The Federal Government on Thursday flagged off the deployment of Compressed Natural Gas-powered buses to Nigerian universities.
The government began with the University of Abuja as part of efforts to cushion high transportation costs and promote cleaner energy use on campuses.
The project, tagged ‘CNG-Sprout’, is the first phase of the ‘Project CNG Special Palliative Relief for Universities Transportation’ and is expected to be replicated across 20 federal universities nationwide.
Commissioning the buses on Thursday, the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, described the initiative as a timely response to Nigeria’s energy transition ………..
FG urges firms to boost gas production, end flaring.
The Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo has charged major gas-producing companies operating in Nigeria to take concrete steps to increase daily gas production by one billion standard cubic feet per annum between 2025 and 2030 to meet the National gas production aspirations as well as bring an end to routine gas flaring.
Speaking at an engagement with upstream gas industry stakeholders held at the NNPC Towers Abuja on Monday, Ekpo stressed the need for accelerated growth in the sector to meet the Federal Government’s target of 12 billion SCF of gas per day by 2030 from the current 7.3billion SCF production capacity.
“We need to grow natural gas production by at least 1 BCF annually till 2030,” Ekpo said. “Nigeria must emerge among the top 10 natural gas-consuming nations by 2030………
OPEC+ Meets as Market Fears Output Hike.
Prices have dropped, also over worries that the US President Donald Trump’s tariff onslaught will cause an economic slump and weigh on demand.
The oil cuts production to prop up prices began in 2022, however, Saudi Arabia, Russia and six other members surprised markets recently by raising output for May and June.
Analysts say the hikes could be a punishment on OPEC members that have failed to meet their quotas. Oil prices have hovered around a relatively low $60-$65 per barrel. At a meeting in December, OPEC+ decided to wait until late 2026 to reverse collective cuts of some two million barrels per day (bpd), as well as additional cuts by some member countries of 1.65 million bpd. However, they decided to reopen the valves this year, raising output by 411,000 bpd in May……..
19th- 23rd May
Why Oil Drilling Will Resume in the North.
The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited, Bayo Ojulari, has disclosed that the state-owned energy firm would resume oil drilling in the northern part of the country.
Ojulari stated this in a recent interview with BBC News Hausa. This comes over two years after the past administration of former President Muhammadu Buhari launched the crude oil drilling project on the border of Bauchi and Gombe states. Ojulari said that the suspended project would be resumed under his leadership. Recall that northerners has expressed joy over the plan by President Buhari to turn the region into an oil-rich zone like the Niger Delta. But the project failed to continue for undisclosed reasons. But the new GCEO of the NNPC ……….
468 illegal refineries busted, 215 suspected oil thieves arrested: Nigerian Navy.
The Nigerian Navy says it apprehended no fewer than 215 suspected oil thieves and 26 vessels in 2024.
It also said 468 illegal refinery sites were deactivated within the period under the auspices of Operation Delta Sanity.The naval chief of policy and plans, Ibrahim Dewu, said this on Monday in Abuja during a news conference on the activities lined up to commemorate the 69th anniversary celebrations of the navy.
Mr Dewu said an estimated 6.5 million litres of stolen crude oil and seven million litres of illegally refined automated gas oil were seized and appropriately handled. He added that 361 wooden boats, 1,107 dugout pits and 279 storage tanks were also deactivated. He said more than 103 illegal refinery sites have been destroyed since January this year, and 34 suspects linked to crude oil theft have been arrested………
Nigeria Remains Africa’s Largest Crude Oil Producers-OPEC.
The Organization of the Petroleum Exporting Countries (OPEC) has said that Nigeria retained its position as Africa’s largest crude oil producer in April.
In its latest monthly report last Wednesday, the oil cartel said that Nigeria’s oil output increased to 1.48 million barrels per day (bpd) in April, from 1.4 million bpd in the previous month. According to the report, Nigeria’s oil output was the largest in Africa, leading Algeria and Congo. OPEC said that its data was based on direct communication.
Holding steady from march, the group said that Nigeria surpassed Algeria, which produced 912,000 bpd, and Congo, which recorded 270,000 bpd. However, according to data sourced from secondary sources, OPEC said that Nigeria produced 1.47 million bpd in April as against 1.49 million bpd in March……