President Umaru Musa Yar'Adua said yesterday that there was no going back on the planned deregulation of the downstream sector of the petroleum industry.

PRESIDENT Umaru Yar'Adua has said that the deregulation of the downstream sub-sector of the petroleum industry is inevitable, but that government is still holding consultations with stakeholders on the necessity of the action.

With seven weeks left in the Federal Government's promised 6,000megawatts power generation target by year's end, the country currently generates 2,900mw of power even though all the $5.09 billion [about N762.93 billion] special intervention funds for the sector this year

Getting energy to every home and satisfying industrial needs remain capital to the New Deal regime.

If we hadn't discovered oil, we would have been better off today. Once we had oil, our agriculture sector collapsed. Oil has made us lazy .We have become corrupted" - Former Minister of State for Finance in Nigeria, Mrs. Nedadi

All over the country, the recent 5% increase in fuel prices are stoking popular anger, the ruling National Democratic Congress (NDC) administration is facing the brunt of even their supporters, while the opposition are using their propaganda machinery to look

FOLLOWING the allegation of fraud levelled against the Nigerian National Petroleum Corporation (NNPC) over products importation and storage in private depots, the National Assembly yesterday charged President Umaru

With 56 days to the deadline for the achievement of 6,000 megawatts of electricity, the Federal Government, yesterday, disclosed that only about 3,000MW of power supply was currently being enjoyed in the country.

NAMPOWER yesterday introduced the four contractors who will be responsible for delivering and installing the fourth turbine and generator for the Ruacana hydropower plant on the Kunene River.

THE Anti-Corruption Commission (ACC) has seized the computer of Namibia's Petroleum Commissioner, Immanuel Mulunga, following a fight over the shareholding in an exclusive exploration licence (EPL) for coal methane gas involving Usuta Imbili, daughter of the Founding President, businessman Sacky

Justice M. A. Bello of a Federal High Court in Abuja has fixed November 26, 2009 to hear the suit instituted by a human rights lawyer, Mr. Bamidele Autru, challenging the decision of the Federal Government to deregulate the downstream

A WEEK after Eskom's board asked CEO Jacob Maroga to resign, Public Enterprises Minister Barbara Hogan told Parliament yesterday that Maroga should not shoulder the blame for Eskom's problems alone.

THE Government has finally bought off the 50 per cent Indeni Petroleum Refinery shares formerly owned by Total International at US$5.5 million, bringing Zambia's ownership of the plant to 100 per cent.

Following the suit brought against the Federal Government on the ongoing plan to deregulate the downstream sector by Barrister Bamidele Aturu, the Federal High Court sitting in Abuja will begin hearing in the case on November 26, 2009 before Justice

Following the planned deregulation of the downstream petroleum sector by the Federal Government, the Commandant-General of the Nigeria Security and Civil Defence Corps (NSCDC), Dr. Ade Abolurin, has called on Nigerians to see the task of ushering sanctity and cultural

Oriental Energy Resources and Afren Nigeria have announced its receipt of requisite approvals for the Ebok Phase 1a Field Development Plan ("FDP"), from the Department of Petroleum Resources.

Department of Petroleum Resources (DPR), the apex regulator of Nigeria's oil and gas sector, has queried six major and independent marketers of petroleum products for alleged diversion, hoarding and selling Dual Purpose Kerosene (DPK) above the stipulated ex-depot price.

Minister of Power, Dr. Rilwan Lanre Babalola, yesterday assured that efforts were on to not only meet the 6,000MW by December 2009, but to also surpass it by at least 500MW.

The 10 per cent equity from oil interest proposed by the Federal Government for oil producing communities will be incorporated into the Petroleum Industry Bill (PIB) and passed into law by the National Assembly before its implementation.

Mister Eugene Odoh, the Speaker, Enugu State House of Assembly, has ordered a strict monitoring of activities at filling stations in the state to confirm the prices at which marketers sell petroleum products.