OIL AND GAS

Reduced Hostility In Niger Delta Sparks 2.1m Barrels Of Oil Per Day – NNPC

The Nigerian National Petroleum Corporation (NNPC) has revealed that the country is now producing as much as 2.1 million barrels of oil per day. Speaking at the 2017 Nigeria oil and gas conference and exhibition,...

OPEC warns Oil industry can’t afford declining investment in 2017

By Michael Eboh The Organisation of Petroleum Exporting Countries, OPEC, has warned against a further decline in global crude oil and gas spend in 2017, stating that the industry cannot afford to see investment levels...

OPEC lost $1trn to unstable oil price-Barkindo

The Organization of Petroleum Exporting Countries (OPEC) says that instability in oil price has led to the loss of $1trn by the organisation Secretary General of OPEC Dr. Mohammed Barkindo gave the revelation on Monday...
Saudi Arabia plans $2 trillion megafund as it looks beyond the oil era

FG open talks with Dubai firm over $20b Gas Park in Niger Delta

The Federal Government today met with a Dubai based Firm, one of the companies partnering with the government to build a $20 billion gas industrial park in Niger Delta.  NAN reports the project is Tagged...
Denies diverting petroleum products

Fuel scarcity loom as IPMAN plans strike

Nigeria may experience scarcity of Petroleum Motor Spirit, PMS following the strike threat by the Independent Petroleum Marketers Association IPMAN. The Association said it will shut down all its members 2000 fuel stations across Lagos...
DPR Seals Two Stations for Hoarding, Diversion of Petrol

DPR Set To Destroy 1.5 Million Liters Of Toxic Fuel

The Department of Petroleum Resources (DPR) has concluded plans to destroy 1.5 million contaminated off-specification (Off-Spec) petroleum products discharged by a vessel - MT JAZI at the Nakem Jetty depot, Kirikiri, which was discovered...
NNPC gets 41% allocation

NNPC records $2.45bn crude oil export sale in one year

The Nigerian National Petroleum Corporation (NNPC) has said that $2.4 billion export sale was recorded in 12 months of 2016. The corporation’s monthly Financial and Operations Report for the month of December 2016 just released...
DPR Seals Two Stations for Hoarding, Diversion of Petrol

DPR seizes vessel laden with contaminated fuel in Lagos

The Department of Petroleum Resources on Monday said it seized a vessel, MT JAZI, loaded with 1. 5 million litres of contaminated petroleum product while discharging at Nakem Jetty, Kirikiri, Lagos. A Director in DPR,...

Nigerian Refineries performed below 15% in 2016 — NNPC

The consolidated operational performance of Nigeria’s three refineries based on their capacity utilisation was below 15 per cent in 2016, the Nigerian National Petroleum Corporation said. Nigeria’s refineries are the Warri Refining and Petrochemical Company...

Nigeria’s crude export increases to $195.40m in December 2016

The total sale of crude oil that the Nigerian National Petroleum Corporation (NNPC) exported in December 2016 increased by $20.22million to hit $195.40million. The corporation disclosed this in its monthly financial and operational reports of...
Swiss Oil Company Sues FIRS Over alleged N127trn tax liabilities

Nigeria’s oil export to India falls by 54%

’Femi Asu with agency report Nigerian oil supplies to India fell by 54 per cent last month from a year ago, following the militant attack on the Trans Forcados Pipeline. Reuters reported that the development forced...

Kaduna refinery loses N2bn annually

Nigerian National Petroleum Corporation (NNPC), said its subsidiary, ‎Kaduna Refining and Petrochemical Company (KRPC), lost about N2.2 billion annually ‎to illegal tapping on its raw water pipeline. The corporation said this in a statement in...

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