OIL AND GAS

Will OPEC look to Nigeria for output cuts as its output recovers?

Nigeria's last remaining shuttered oil terminal is resuming exports just days before the West African nation heads into OPEC talks - potentially awkward timing for a country that was exempt from the first round...
How to regulate the petroleum downstream sector

OPEC panel looking at deepening, extending oil cuts

An OPEC panel reviewing scenarios for the oil producer group's meeting next week is looking at the option of deepening and extending a deal to reduce crude output, OPEC sources said on Friday, in...
Minister of State for Petro­leum Resources, Dr. Ibe Kachikwu

Nigeria to reduce petrol importation to 60%

t has expressed commitment to the plan to reduce importation of petroleum products from the present 95 per cent to 60 per cent by 2018. The Minister of State for Petroleum Resources, Dr Ibe Kachikwu,...
FG Receives $42bn From Shell In Five Years

Nigeria receives N11tr from Shell Petroleum Joint Ventures in four years

The Federal Government has so far received about $29 billion (N11.7 trillion) from the Shell Petroleum Development Company of Nigeria Limited (SPDC) operated Joint Venture between 2012 and 2016, the oil company claimed. Also in...

Nigeria, Morocco finalise agreement on gas regional pipeline, fertilizer initiative

The Federal Government of Nigeria and Morocco have sealed pacts to drive the implementation of the gas regional pipeline and fertilizer initiative. According to the Foreign Minister of Morocco, Nasser Bourita who presented the broad...

Oil production in Nigeria boosted by Niger Delta’s peace initiatives

Dr Maikanti Baru, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), says Federal Government’s peace initiative in the Niger Delta has raised production of Nigeria’s three refineries. He told an interactive session...
Swiss Oil Company Sues FIRS Over alleged N127trn tax liabilities

Nigeria’s oil production rises by 274,000bpd

Crude oil production in Nigeria rose by 274,000 barrels per day last month, the biggest increase among its peers in the Organisation of Petroleum Exporting Countries. But the increase was not enough to help the...

Missing Petrol: Reps Investigate AZ Petroleum Company

The House of Representatives ad-hoc committee on Review of Pump Price of Petroleum on Tuesday uncovered 40000 metric tons of Premium Motor Spirit (PMS) allegedly traced to AZ Petroleum. The chairman of the committee, Mr....

NLNG Amendment Act Not In Nigeria`S Interest, Company

Management of Nigeria LNG says the passage of a bill for the amendment of its act by the House of Representatives is not in national interest. The company notes that the Federal House of Representatives...
How to regulate the petroleum downstream sector

Agip to build new refinery in Port Harcourt

The Minister of State, Petroleum Resources, Dr. Ibe Kachikwu, on Tuesday disclosed that the Federal Government and Italian oil giant, Agip, have reached an agreement to build a new refinery in the country. He said...
How to regulate the petroleum downstream sector

‘Nigeria lost N523 billion to gas-flaring in two years’

The Federal Government has lost N523 billion to gas-flaring between 2015 and 2016, data from the Department of Petroleum Resources (DPR) and Nigerian National Petroleum Corporation (NNPC) has shown. While DPR figures showed $850 million...

No pipeline vandalism recorded in three months – FG

The Nigerian government, Wednesday, said it has witnessed no pipeline vandalism arising from militant activities in the Niger Delta in the past three months. The Minister of State for Petroleum Resources, Ibe Kachikwu, made this...

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