A recent revelation by the Nigerian National Petroleum Corporation that it spent N774 million daily to subsidise petrol consumed in the country was a confirmation of Nigeria’s return to the Continue Reading
Even as OPEC-member Angola continues to comply to bloc-wide crude production cuts, its progress on its first offshore oil project remains unhindered, according to a new report by Reuters. Total, Continue Reading
Lagos — Nigeria’s oil supply to the international market is facing glut as ample supply of light and medium grades from the North Sea and the Mediterranean are limiting buying Continue Reading
The Nigerian National Petroleum Corporation (NNPC) Wednesday said it received a request from Indonesia to supply it more volumes of Nigeria’s crude oil blends to enable it to meet the Continue Reading
Angola has been OPEC’s second most compliant member with regard to the 2016 oil production cut deal, but just like the number-one compliant member, Venezuela, this prestige does not come Continue Reading
Heavy rains, filthy conditions, medicine shortages and endemic corruption have combined to make a lethal malarial cocktail for Angola. Since the start of the year, more than 300,000 cases of Continue Reading
The International Monetary Fund on Wednesday warned that Nigeria remains vulnerable despite slowly exiting recession since its growth is tied to oil prices and improved revenues are restricted to the Continue Reading
The Nigerian National Petroleum Corporation can produce crude oil at around US$20 a barrel, but there are plans to bring this even lower, to US$15 a barrel, the company’s group Continue Reading
Minister of State for Petroleum Resources, Dr Ibe Kachikwu, has said Nigeria has forever lost United States of America, USA, as a significant crude export market. Up until the early Continue Reading
There was confusion at an Italian court Monday as two lawyers purportedly representing the Nigerian government surfaced in the trial of Shell and Eni executives over alleged corruption in Nigeria. Continue Reading
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru has said that the corporation has as at today brought down the cost of production of Continue Reading
The raging labour dispute between the oil workers’ unions and Nigerian indigenous firms that have committed huge resources to develop local capacity and capability in line with the Nigerian Oil Continue Reading
A logo of Shell is pictured at a gas station in the western Canakkale province, Turkey April 25, 2016. REUTERS/Murad Sezer Earlier this week, the Milan tribunal informed lawyers that Continue Reading
Nigeria’s inefficient refineries are unable to meet domestic fuel demand and have made Nigeria the only OPEC member to import gasoline, according to the managing director of the Nigerian National Continue Reading
Residents of Peace Estate in Baruwa area of Ipaja, were thrown into panic yesterday, following the explosion of a Nigerian National Petroleum Corporation, NNPC’s pipeline, which resulted in fire. But Continue Reading
Up to $45 million in costs to drill a well off the Gambian coast is covered through a deal with Malaysian oil company PETRONAS, Australia’s FAR Ltd. said. PETRONAS, an Continue Reading
The House of Representatives yesterday ordered the Nigeria National Petroleum Corporation ( NNPC) to stay action on the plan to expend $1.8 billion on the turn around maintenance (TAM) of Continue Reading
While Nigerians across many states continue to grapple with the unavailability of petrol at the official price, the situation may get worse due to threat by depot owners. On Tuesday, Continue Reading
Tension is brewing in Ogoni ethnic nationality of Rivers State following the insistence by Movement for the Survival of Ogoni People, MOSOP, that the people of Ogoni have not endorsed Continue Reading
As OPEC allies push to restrict oil output in an international attempt to bolster crude prices, Nigerian producers are heading in the opposite direction, aspiring to increase output by 250,000 Continue Reading
There are indications that the United States and other nations will soon abandon Nigeria’s oil, which may negatively affect the nation’s revenue generation. According to the Energy Information Administration (EIA), Continue Reading
Senate ad hoc committee investigating the $16 billion Egina Deep Sea Project has disclosed that the participating foreign firms in the contract would refund billions of dollars to the Federal Continue Reading
Bloomberg . The “dire” shortage, which has reached “force majeure” proportions, requires 625,000 barrels per day of gasoline imports daily to be quelled, Ndu Ughamadu, a spokesman for the Nigeria Continue Reading
There is no respite in sight for Nigerians as the fuel crisis, which began in November 2017, continued on Thursday. Most filling stations were out of fuel despite claims by Continue Reading
The Federal Government, Thursday, ordered the Nigerian National Petroleum Corporation, NNPC, to bring an end to the lingering fuel crisis before the end of the weekend. Addressing newsmen on the Continue Reading
An ad-hoc committee of the House of Representatives on Wednesday began a probe into the alleged loss of crude oil in Nigeria worth $21billion. The House had directed the committee Continue Reading
Alhaji Alanamu Balogun is the Lagos State chapter of the Independent Petroleum Marketers Association of Nigeria (IPMAN). He spoke to DANIEL ANAZIA on why incessant fuel scarcity appears to have Continue Reading
Five months after it shut down Shell flow station at Belema, hundreds of indigenes of Kula are still occupying Shell flow at Belema in Akuku-Torlu Local Government Area of Rivers Continue Reading
The Kaduna Refining and Petrochemical Company (KRPC) shut down operations on January 15 due to the non-availability of crude oil. The Executive Director, Services, of KRPC, Abdullahi Idris, disclosed this Continue Reading
A large number of youth claiming to be former armed militants in the Niger Delta area of Ondo State on Friday protested in Akure, the state capital, over their non-inclusion Continue Reading
deal . The vessel’s arrival is part of a $16 billion project by Total on the Egina field, the French company told AFP. Egina lies 150 kilometers from Nigeria’s southeastern Continue Reading
The Pan Niger Delta Forum (PANDEF) yesterday convened an emergency meeting to address the rising tension in the region, particularly the threat by the Niger Delta Avengers to commence “operation Continue Reading
A Coalition of Niger Delta Agitators yesterday listed a number of oil fields and installations as targets for resumed attacks if Federal Government failed to address specific grievances agitating the Continue Reading
The Nigerian National Petroleum Corporation (NNPC), Total Upstream Nigeria Limited, (TUPNI) and her partners yesterday announced the arrival of the Egina Floating, Production, Storage and Offloading unit (FPSO) to the Continue Reading
The 200,000 barrels per day Egina oil project which encompasses a 330 metre long Floating Production Storage and Offloading (FPSO) platform designed to process oil from the field from December Continue Reading
The construction of Greenfield refineries will commence this year in Kano and Kaduna, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru has said. Baru Continue Reading
Angolan state oil firm Sonangol has issued its first public tender to buy refined products to widen its import base, market sources who have seen the tender said, in a Continue Reading
SIX days after unknown gunmen abducted five workers of Sahara Energy, an indigenous oil-servicing firm at a border community between Edo and Delta states, the whereabouts of the victims still Continue Reading
The Nigerian National Petroleum Corporation, NNPC, on Sunday said that it had released 250 trucks of petrol to Lagos metropolis for effective dispensing at filling stations to forestall any scarcity. Continue Reading
Aagitators have endorsed plans by Niger Delta Avengers, NDA, to resume hostilities in the region in the next few days over alleged discriminatory actions of the Federal Government against theoil-producingg Continue Reading
The President of the Republic, Nana Addo Dankwa Akufo-Addo, says close co-operation between Ghana and the world’s largest publicly traded international oil and gas company, Exxon Mobil, will be instrumental Continue Reading
Despite assurances by the Nigerian National Petroleum Corporation, NNPC, of a return to normalcy in fuel supply, the fuel crisis worsened, yesterday, in Abuja, while transportation costs also rose astronomically. Continue Reading
Nigeria has moved closer to turning an oil industry bill into law after a 17 year struggle to complete the legislation which aims to increase transparency and stimulate growth in Continue Reading
Nigeria has filed a claim against JP Morgan Chase for more than $875 million, accusing it of negligence in transferring funds from a disputed 2011 oilfield deal to a company Continue Reading
The Niger Delta Avengers, a sporadic militant group in Nigeria, said Wednesday its next round of attacks targeting deep water operations will be bloody. Nigeria is a member of the Continue Reading
Exxon Mobil Corp signed a deal with Ghana on Thursday to explore for oil in the Deepwater Cape Three Point offshore (DWCTP) oilfield. The signing followed direct negotiations between Ghana Continue Reading
Nigeria is the second-worst country in terms of electricity supply out of 137 countries ranked by the Spectator Index. It is second only to war-torn Yemen, and its national grid Continue Reading
Nigeria’s crude oil production, including condensate hit 2.057 million barrels per day (bpd) in the month of December 2017. This is higher than the 1.93 million bpd including condensate recorded Continue Reading
There seems to be no end in sight in the lingering scarcity of petrol in Kaduna state especially in the state capital, as many filling stations hoard their products in Continue Reading
A heavy explosion at the Nigeria Gas Company pipeline, which crosses the Ugbokodo community near the Warri Refinery, caused chaos in the area, according to emerging reports . The explosion Continue Reading
