The Federal Government has disclosed that about 43 refineries, including large scale and modular refineries, have been licensed to refine petroleum products across the country. The Senior Technical Adviser to Continue Reading
The Nigerian National Petroleum Corporation (NNPC) yesterday said $2.2 billion (N673.2 billion) had been saved from refining over 40 billion liters of crude oil abroad through the nation’s Direct Sale Continue Reading
Among the challenges besetting Nigeria’s economy, which has been internationally acknowledged is the multifaceted nature of losses that are largely induced by poor records, corruption and tardiness in enforcement of Continue Reading
A Dutch court on Wednesday ruled in favour of four Nigerian women who sued oil giant Shell. The women, including Esther Kiobel, sued Shell for its alleged role in the Continue Reading
A Dutch court said on Wednesday it has jurisdiction to hear a damages suit brought against energy company Royal Dutch Shell by four widows of activists executed by the Nigerian Continue Reading
Africa’s largest oil producer, Nigeria, is dusting off an ambitious plan to double its oil production by 2025, aiming to pump as much as 4 million bpd in six years’ Continue Reading
Nigeria’s crude production may rise further by additional 160,000 barrels per day (bpd) with the completion of Pan Ocean Oil Corporation Nigeria Limited’s three oil and gas infrastructure. Although Federal Continue Reading
Five oil wells in oil-rich Ondo State has been reportedly gutted by fire on Thursday morning. The fire, accompanied by an explosion occurred at Ajegunle Ikorigho, Ondo State. The oil Continue Reading
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has warned that Nigeria is facing stiff competition from new oil and gas discoveries in Africa Continue Reading
The National Union of Petroleum and Gas Workers (NUPENG) has urged the federal government to reject the advice given by the International Monetary Fund (IMF) on fuel subsidy. NUPENG also Continue Reading
With increased global competition in the crude oil production space, and the need to find a solution to the rising subsidy payments, the Nigerian National Petroleum Corporation (NNPC), has said Continue Reading
Saudi Arabia has hinted on the possibility of establishing a refinery in Nigeria. Minister of Energy Industry and Mineral Resources of the Kingdom of Saudi Arabia, Khalid Al Falih dropped Continue Reading
Highlights To sign MOU on energy investment Saudi Aramco looking at building oil refinery in Nigeria Nigerian refining in urgent need of investment London — Saudi Arabia is looking to Continue Reading
Nigeria’s petroleum downstream sub-sector, especially refineries, pipelines and others may witness a major overhaul following ongoing talks between the Federal Government and the Saudi authorities in Riyadh. The Minister of Continue Reading
Nigerian firm Aiteo Oil Exploration and Production Company , has discovered that sabotage was the cause of the fire that caused Nigeria’s oil production to fall 8% per day, creating Continue Reading
The House of Representatives, on Wednesday, passed a bill seeking to help plug leakages in government’s streams of income in the oil sector for second reading. This followed a motion Continue Reading
The Organisation of the Petroleum Exporting Countries (OPEC), is upbeat at the prospect of the Dangote Oil Refinery, in driving world crude oil refining capacity increase especially in Africa by Continue Reading
Many companies are now floating modular refineries in Nigeria – and it’s shaping up to be a big positive for the energy sector and the Nigerian economy. MARK ITSIBOR reports Continue Reading
The operator of the Nembe Creek Trunk Line—one of the two key pipelines of Nigeria’s Bonny Light crude grade capable of transporting 150,000 bpd to the export terminal— declared on Continue Reading
The Organization of Petroleum Exporting Countries (OPEC) is upbeat at the prospect of Dangote Oil Refinery serving to drive world crude oil refining capacity increase, especially in Africa by 2020. Continue Reading
Aiteo Eastern Exploration and Production has declared force majeure on crude oil supply through Nigeria’s 150,000 b/d Nembe Creek Trunk Line, a key oil pipeline connected to the Bonny terminal Continue Reading
The Senate yesterday passed a new bill, which provided for penalty against gas flaring and other malpractices in the oil and gas sector.The last legislation on gas flare, the Associated Continue Reading
Former Vice President Atiku Abubakar made an unpopular statement during the campaign worth a second thought. He said if he was elected president, he would sell off the Nigerian National Continue Reading
The Federal Government, yesterday, disclosed that it has started the real-time tracking and monitoring of gas flaring and oil spillage across the country. Speaking during the launch and handover of Continue Reading
The nation’s fuel shortage has worsened as consumers spent the weekend on queues for the product, despite assurances by the Nigerian National Petroleum Corporation, NNPC. Meanwhile, the Federal Government yesterday, Continue Reading
The Nigerian Security and Civil Defence Corps (NSCDC) will on Monday begin a clampdown on petrol dealers hoarding or diverting products in Ekiti State. The NDCDC, Ekiti Command, said it Continue Reading
After several unmet deadlines for ending gas flaring, oil and gas firms still continue to waste natural gas resources in the country as the 2020 deadline nears, ’FEMI ASU writes Continue Reading
A dispute between Haiti and a U.S. energy trading firm is leading to long blackouts and fuel shortages in the Caribbean nation, feeding anger at President Jovenel Moise’s government following Continue Reading
The Executive Director and Production Manager of ExxonMobil Nigeria, Richard Laing debunked the rumor that the organizations was exiting from Nigeria. Laing made this statement on Saturday during the Minister Continue Reading
Ibe Kachikwu, the Minister of State for Petroleum Resource says that no International Oil Company (IOC) is planning to exit Nigeria contrary to reports in some section of the media. Continue Reading
The average production cost for a barrel of oil in Nigeria has declined to just US$23 a barrel, Petroleum Minister Emmanuel Ibe Kachikwu told local media, adding that oil companies Continue Reading
Washington DC — The International Monetary Fund (IMF), yesterday in Washington DC, United States, declared that Nigeria’s Excess Crude Account (ECA) was not achieving the goals for which it was Continue Reading
No fewer than 800 companies have bid for management of 176 gas flare sites in the country, the Minister of State for Petroleum Resources, Ibe Kachikwu, has said. Mr K.achikwu Continue Reading
The International Monetary Fund (IMF) has advised Nigeria and other countries still subsidising fuel for domestic consumption to stop doing so. The IMF said fuel subsidy removal would help boost Continue Reading
The Federal Government, Thursday, disclosed that it is working on a legislation, through the Department of Petroleum Resources, DPR, to compel petroleum products marketers to set up gas filling plants Continue Reading
More than 50 per cent of Nigeria’s oil and gas blocks remain untapped even as crude oil production continues to hover around two million barrels per day while gas shortages Continue Reading
The rising tide of light U.S. shale oil has largely swept away comparable grades of Nigerian oil from American shores and is putting them under pressure in Europe. But steady Continue Reading
Africa’s richest man and President of Dangote Group, Alhaji Aliko Dangote, has said his refinery, one of the world largest, when completed, will transform Nigeria’s economy. He stated this at Continue Reading
Nigeria’s Petroleum Minister Emmanuel Ibe Kachikwu has said that he isn’t aware of any plans of U.S. oil and gas supermajor ExxonMobil to exit upstream operations in OPEC’s African member. Continue Reading
A cargo of Nigeria’s distillate-rich Bonga crude is due to move to the United States (U.S.) from the May loading programme, traders have disclosed, after a near six-month hiatus. According Continue Reading
The Minister of State for Petroleum Resources, Ibe Kachikwu has tasked indigenous operators to step up their investments and take over major operations from international oil companies, especially as many Continue Reading
Yenagoa — The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has tasked indigenous operators in the oil and gas sector to step up their investments and take over Continue Reading
The president’s first term fell short of the changes needed to modernize the sector. Can he make headway in his second? Muhammadu Buhari, re-elected as president of Nigeria in February, Continue Reading
Nigeria’s Petroleum Minister Emmanuel Ibe Kachikwu admitted that reducing oil production to the quota assigned by OPEC is a challenge, not least because of the start of production at the Continue Reading
The Nigeria National Petroleum Corporation (NNPC) has pledged to deepen its search for oil in the north. The corporation has also described the Dangote Refinery, currently under construction, as a Continue Reading
Royal Dutch Shell, Nigeria’s largest foreign investor paid the Nigerian government $6,397,325,844 as oil production entitlement, taxes, royalties and fees arising from the company’s activities involving oil and gas exploration, Continue Reading
Exxon Mobil recently held talks on the sale of a suite of oil and gas fields in Nigeria as the company focuses on new developments in U.S. shale and Guyana, Continue Reading
At the 2019 International Petroleum Conference held in London, recently, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, was reported to have copiously highlighted major Continue Reading
There are indications that ExxonMobil has concluded plans to divest from some onshore and offshore fields worth $3 billion in Nigeria. Industry and banking sources that made this disclosure to Continue Reading
Exxon Mobil may sell a suite of oil and gas fields it holds in Nigeria and has commenced talks on the sales as it focuses on new developments in United Continue Reading
