The Fridays For Future (FFF) Nigeria and Climate Live Nigeria, has called for an end to fossil fuels production and usage in Nigeria.

Mr Kingsley Odogwu, National Coordinator and Country Representative of the organisation said this at the Climate Justice Road-walk campaign, on Friday in Abuja.

He said that the campaign was aimed at raising awareness on the effects of fossil fuels and the need for the Federal Government to transit to renewable energy sources.… Read the rest

Nigeria’s petrol imports declined in the second quarter of the year on the back of the removal of subsidy, even as the further rise in global oil prices is expected to push up the cost of bringing the product into the country.

BusinessDay’s analysis of new data from the National Bureau of Statistics shows the importation of petrol dropped by 17.5 percent to N1.23 trillion from N1.49 trillion in Q1.… Read the rest

Electric vehicle sales have been growing exponentially, and several countries are showing it’s possible to scale up EV sales fast enough to meet climate goals. Netherlands, one of them is a major buyer of Nigerian crude, a development that puts a clock on the resource.

The rise in electric vehicle adoption does not bode for oil producers especially Nigeria which is unable to exploit fully its crude oil resources at a time when energy think tanks are placing the commodity’s all-time high demand period as early as the next seven years.… Read the rest

Following several failed attempts to resolve pending issues, crude oil refinery operators have confirmed that the volume of crude oil required for the production of refined petroleum products by modular refineries is not being met by the Federal Government.

It was also gathered that all functional modular refineries in Nigeria are refining below capacity and making losses daily.

“All (modular refineries) are refining below capacity and making losses daily, as the only feedstock currently available to them is what those that have marginal fields are producing, or what they can buy from indigenous companies around them that have marginal fields,” said Dolapo Kotun, the Deputy Chairman of the Crude Oil Refinery Owners Association of Nigeria (CORAN).… Read the rest

Increased crude production by Iran, Nigeria and Iraq, inspired a boost in the August production by the Organisation of Petroleum Exporting Countries, the group said.

Oil production from the 13 members of the organisation, OPEC, averaged 27.45 million barrels per day (mb/d) in August 2023, higher by 113 thousand barrels per day (tb/d) on a month-on-month, OPEC said in its Monthly Oil Market Report released Tuesday.… Read the rest

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Tuesday announced the outcome of the bidding exercise for the Nigerian gas flare commercialisation programme.

The Nigerian government launched the National Gas Flare Commercialisation Programme in 2016 to involve third-party investors or off-takers in harnessing gas released as a byproduct of oil production.

The programme was one of the government’s initiatives to drive the attainment of zero routine gas flaring by 2035 and net zero emissions by 2060 in the country.… Read the rest

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), is seeking partnership with key petroleum stakeholders, to effectively manage gas flaring in the country.

RMAFC Spokesperson, Mr Christian Nwachukwu, who disclosed in a statement on Monday in Abuja, said the aim was to boost the country’s revenue profile.

Nwachukwu said that the commission made the proposal when it received delegates from the Nigeria Upstream Regulatory Commission ( NUPRC), and the Nigerian Oil Spill Detection and Response Agency (NOSDRA).… Read the rest

The 650,000 barrels per day Dangote Refinery is yet to begin production after the August commencement date, earlier announced by the President, Dangote Group, Aliko Dangote.

While delivering his speech at the official commissioning of the refinery by former President Muhammadu Buhari in May, he said, “Your excellencies, distinguished guests, our first product will be in the market before the end of July or beginning of August this year.”… Read the rest

The Nigerian Oil Spill Detection and Response Agency (NOSDRA) has stated that Nigeria from 2011 to 2021 recorded a loss of over $22.9 billion to gas flaring.

Adeshida, who underscored the need for proper monetisation of gas flaring in Nigeria said, the Country flared more than 4.2 billion standard cubic feet of gas leading to the Country’s loss of more than $14.6 billion from 2012 to 2021.… Read the rest

The absence of the CEO of NNPC Limited, Mele Kyari, on Monday, stalled the investigation by the committee of the House of Representatives into the acquisition of OVH Energy by the Nigerian National Petroleum Company Limited (NNPCL).

Mr Kyari and the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (MMDPRA), Farouk Ahmed, were last week summoned by the committee over the deal.… Read the rest