The federal government will spend over N3 billion on fuel, generators and plants across 602 ministries, departments and agencies this year. These figures do not include money voted by the Continue Reading
Egina field to push output by 10% in 2019 Energy bill key to sector’s renaissance Fiscal, militancy challenge ahead of elections London — Nigeria’s oil sector is in urgent need Continue Reading
Days before OPEC’s production cuts started on January 1, France’s Total had started up oil production from Nigeria’s ultra-deepwater oil field Egina, which is expected to produce 200,000 bpd at Continue Reading
France-based Total said Wednesday it started production in the Egina field in offshore Nigeria which will eventually reach 200,000 barrels of crude oil per day. The new production, which will Continue Reading
Nigeria’s crude oil daily production recorded an upward swing of about 2.09million barrels in 2018, translating to a 9 per cent increment, compared with the 2017 average daily production of Continue Reading
The price of crude oil, yesterday, dropped from $50 to $48 in the international market, showing $12 below Nigeria’s $60 per barrel 2019 budget reference price. Specifically, the price of Continue Reading
The Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), and 22 other oil companies are yet to pay to remit $3,632,075 to the Federation Continue Reading
Minister of State for Petroleum Resources, Ibe Kachikwu , has spent over three years in office. In this interview with KINGSLEY JEREMIAH and JOKE FALAJU, Kachikwu spoke on his achievements, Continue Reading
Just as OPEC and partners will have started the new round of production cuts to reduce oversupply, France’s Total is set to begin exports from the new ultra-deep Egina oil Continue Reading
Controversy trailed Wednesday’s revelation by the Federation Accounts Allocation Committee (FAAC) that the excess crude revenue account savings has been depleted to only $631 million within three weeks. Barely three Continue Reading
