Nigeria Near 40-Billion-Barrel Oil Reserves Target
The plan by the Nigerian National Petroleum Corporation (NNPC) to grow the nation’s crude oil reserves to 40 billion barrels by the year 2020 received a major boost yesterday with Continue Reading
Nigeria: Neiti – Over U.S.$21.8 Billion Unaccounted for By NNPC
The Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed that the Nigeria National Petroleum Corporation (NNPC) is supposed to remit over $21.8 billion billions to the Federation Account. The agency’s Continue Reading
Nigerian Crude Exports to Hit 17-Month High in August
Nigerian crude exports will top 2 million barrels per day in August, reaching a 17-month high, according to new data compiled by Reuters on Thursday. Attacks by militants in the Continue Reading
Once Again, Tensions Are Rising In Nigeria’s Oil Sector
On 2nd May 2017, Nigeria’s House of Representatives rejected a motion requesting that the House compel international oil companies (IOCs) to relocate their headquarters to the Niger Delta. The initiative Continue Reading
Nigeria’s cut exemption at risk from oil revival
Upward production trend could be maintained Producer faces joining OPEC pact as output recovers August exports seen surging to 18-month high Security situation fragile despite fall in attacks Nigerian oil Continue Reading
Nigeria: Militants Give Northerners October 1 to Quit Niger Delta
A coalition of Niger Delta militant groups rose from a meeting in Port Harcourt, Rivers State yesterday ordering all northerners to quit the oil-rich region. The militants threatened to attack Continue Reading
Nigeria: Oil Output Hits Over 2.0m BPD As Shell Lifts Force Majeure On Forcados
Shell Petroleum Development Company Limited has officially lifted force majeure on exports of Nigeria’s Forcados crude oil, thus increasing the nation’s oil output by additional 200,000 barrels per day. Force Continue Reading
Nigeria To Return 20% Of OPEC Cuts To The Market
Shell lifts force majeure on Forcados oil in Nigeria Royal Dutch Shell (ticker: RDSA) lifted force majeure on exports of Nigeria’s Forcados oil grade, returning about 250 MBOPD to world Continue Reading
Nigerian crude oil exports threaten market balance
The resumption of operations at a crude oil export terminal in Nigeria could lead to stronger output from the OPEC member, industry analysts say. File photo by Pavel Shlykov/Shutterstock June Continue Reading
Nigeria: Shell Reopens Forcados Terminal for Crude Export
The Shell Petroleum Development Company of Nigeria Ltd (SPDC) operator of the Shell/NNPC Joint Venture on Tuesday lifted the 17 months force majeure placed on Forcados Export Terminal following the Continue Reading