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Nigeria: NNPC to Finance New Gas Pipeline Project

Nigeria: NNPC to Finance New Gas Pipeline Project

The Nigerian National Petroleum Corporation (NNPC) has indicated that up to 1000 kilometres (km) of new gas lines that would be added to Nigeria’s gas line network would be funded through a new framework of contractor financing and then their ...

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Oil workers threaten nationwide strike from Dec. 18

Oil workers suspend strike

A few hours after oil workers under the aegis of the Independent Petroleum Marketers Association of Nigeria, Lagos State Chapter, suspended the plan to withdraw their services, the Petroleum and Natural Gas Senior Staff Association of Nigeria on Thursday threatened ...

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Crude, Gas production to Rise as NNPC, Chevron Sign $1.7bn Deal

Crude, Gas production to Rise as NNPC, Chevron Sign $1.7bn Deal

The Nigerian National Petroleum Corporation ( NNPC ) and Chevron Nigeria Limited (CNL) have executed the final phase of an Alternative Financing Agreement to increase crude production by about 39,000 barrels per day. The agreement, signed in London, is also ...

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FAAC: States to Partake in Reconciliation of NNPC Figures

FAAC: States to Partake in Reconciliation of NNPC Figures

 FG, states, LGs share N532.8bn for October The various states of the federation will now be part of the reconciliation team of the Nigerian National Petroleum Corporation( NNPC) revenue for the federation account to avoid discrepancies . The Chairman, Commissioners ...

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Kachikwu Rolls Out Emergency Plan to End Petrol Scarcity

FG Justifies Oil Exploration in North, to Reinvest Proceeds from JV Assets

PENGASSAN threatens strike, to prolong fuel crisis Oil price rises on threat of Nigeria strike, short covering Following the directive by the Federal Executive Council (FEC) to the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, to end the ...

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We’ll complete Egina project for $16bn – Total

We’ll complete Egina project for $16bn – Total

Total Upstream Nigeria Limited has said the Egina deep-water project is expected to be completed in the fourth quarter of 2018 for the initial budget of $16bn. The Egina field, which was discovered by Total in 2003 within the Oil ...

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FG Orders Kachikwu to End Fuel Scarcity

FG Orders Kachikwu to End Fuel Scarcity

NNPC moves to bridge supply gap DPR orders depot owners to give priority to Lagos The federal government Wednesday in Abuja, denied insinuations that the current fuel scarcity plaguing the country is a ploy to increase the pump price of ...

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Nigeria Discovers 38 New Gas Flare Sites, Flared 800mscuf/d in 2015

Nigeria Discovers 38 New Gas Flare Sites, Flared 800mscuf/d in 2015

About 38 new gas flare sites have been discovered in the Niger Delta region to bring the existing number of gas flare sites in the country to 178, the Ministry of Petroleum Resources has disclosed. The ministry also stated yesterday ...

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Petrolex to Invest $5bn in 250,000bpd Refinery

Petrolex to Invest $5bn in 250,000bpd Refinery

Forte Oil unveils 1.5KVA solar solution An indigenous midstream and downstream player in Nigeria’s oil and gas sector, Petrolex, has inaugurated Wood Mackenzie and Fooster Wheeler to conduct studies for the construction of 250,000 barrels per day refinery at the ...

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Petrol Queues Return, Baru Rushes Back from London

NNPC to name core investor for Benue biofuel project

Senate c’ttee summons NNPC GMD Long queues of vehicles waiting to buy petrol from service stations on Tuesday resurfaced in some parts of the country, forcing the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, ...

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To Stem Growing Fuel Queues, Kachikwu Orders Release of Products in Storage

To Stem Growing Fuel Queues, Kachikwu Orders Release of Products in Storage

No plans to increase price of petrol, NNPC assures Worried about the implications of fuel queues at this time of the year, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, on Monday ordered the Nigerian National Petroleum Corporation (NNPC) ...

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Pakistan Begins Importation Of Nigeria’s Liquefied Natural Gas

Pakistan has begun the importation of Nigeria’s Liquefied Natural Gas (LNG) as part of efforts to deepen the economic relationship between the two nations. Pakistan Head of Chancery, Asim Khan, told the News Agency of Nigeria (NAN) on Tuesday in ...

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Kachikwu: Oil Revenue May Not Fund Nigeria’s Budget in 20 Years Time

Kachikwu: Oil Revenue May Not Fund Nigeria’s Budget in 20 Years Time

OPEC favours institutionalising re-balancing pact with non-member Nigeria may not be able to fund the expenditure proposals in its national budget majorly with monies earned from sale of its crude oil in about 20 years from now, the Minister of ...

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OPEC Caps Nigeria, Libya’s Oil Output at 2107 Levels, Extends Production Cuts

OPEC Caps Nigeria, Libya’s Oil Output at 2107 Levels, Extends Production Cuts

Oil price hits $64 per barrel Kachikwu explains exemption from production cuts The Organisation of Petroleum Exporting Countries (OPEC) Thursday took a decision to cap the output of Nigeria and Libya at 2017 production levels without deciding on the figures. ...

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Hungary Interested in Buying Nigeria’s Crude Oil, LNG, Says NNPC

Hungary Interested in Buying Nigeria’s Crude Oil, LNG, Says NNPC

The Nigerian National Petroleum Corporation (NNPC) wednesday said it could add a new buyer to its list of customers for Nigeria’s crude oil blends and Liquified Natural Gas (LNG) following indications from the Hungarian government that it is interested in ...

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NNPC Targets $5bn Cash-for-Crude Prepayments

NNPC Targets $5bn Cash-for-Crude Prepayments

OPEC, Russia set for oil cut extension Cartel to discuss output caps for Nigeria, Libya The Nigerian National Petroleum Corporation (NNPC) is targeting up to a $3.5-$5 billion cash-for-crude prepayments from some of the world’s top commodity traders to fund ...

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AI: Investigate Shell for Complicity in Murder, Rape and Torture in Ogoni

AI: Investigate Shell for Complicity in Murder, Rape and Torture in Ogoni

Amnesty International (AI) has called on the governments of Nigeria, United Kingdom and the Netherlands to launch criminal investigations into Shell’s role in what it described as horrific crimes committed by the Nigerian military in Ogoniland in the 1990s. The ...

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Prepare for Higher Electricity Tariffs, Osinbajo Tells Nigerians

Prepare for Higher Electricity Tariffs, Osinbajo Tells Nigerians

Vice President Yemi Osinbajo monday asked Nigerians to brace up for inevitable higher electricity tariffs. “There is no question at all that we must pay higher tariffs,” he said. Osinbajo who made this remark while addresing the quarterly business forum ...

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Oil Revenue Has Exceeded 2017 Budget Benchmark by 18%, Says NNPC

OPTS: Costs of Nigeria’s Oil and Gas Projects Higher By 100%

Defends 2018 price, production target. The Nigerian National Petroleum Corporation (NNPC) has stated that oil revenue in the first ten months of the year has exceed the 2017 budget oil benchmark of $44.50 per barrel by 18 per cent, revealing ...

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NNPC to name core investor for Benue biofuel project

NNPC to name core investor for Benue biofuel project

The Nigerian National Petroleum Corporation said on Sunday that it would soon name a core investor for the proposed biofuel plant in the Agasha Guma area of Benue State. The Group Managing Director, NNPC, Maikanti Baru, said arrangements had been ...

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