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Agip pushes ahead with 150,000bpd refinery plan

Agip pushes ahead with 150,000bpd refinery plan

The Nigerian Agip Oil Company, a subsidiary of Italian oil major, Eni, said it had begun feasibility studies for the construction of a new 150,000 barrels-of-oil-per-day refinery in the Niger Delta. The Vice-Chairman and Managing Director, NAOC, Mr. Massimo Insulla, ...

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NNPC stores two billion litres of petrol for end-of-year movement

NNPC stores two billion litres of petrol for end-of-year movement

The Nigerian National Petroleum Corporation on Tuesday announced that it had stored over two billion litres of Premium Motor Spirit, also known as petrol, to ensure a hitch-free end-of-year movement of motorists. It said the end-of-year period had been hitherto ...

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Channel Blockade: LNG Demands $315.6m Refund From NIMASA

Channel Blockade: LNG Demands $315.6m Refund From NIMASA

Nigerian  Liquefied Natural Gas (NLNG) has raised a strong letter  to Nigerian Maritime Administration and Safety Agency (NIMASA) demanding the payments of about $315.6 million debt made under protest to the agency since 2013. In the letter, NLNG said that ...

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Buhari asked us to focus on northern Nigeria — World Bank

We’re on the same page with FG on borrowing – W’Bank

The President of the World Bank Group, Jim Yong Kim, said on Thursday that the bank had concentrated on the northern region of Nigeria in line with President Muhammadu Buhari’s request. Kim and the Managing Director, International Monetary Fund, Christine ...

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NNPC increases exploration in Chad, six other basins

NNPC increases exploration in Chad, six other basins

As part of strategies to shore up the nation’s crude oil reserve base, the Nigerian National Petroleum Corporation on Thursday announced that it was on target with respect to reinvigorating exploratory activities in the seven hydrocarbon basins across the country. ...

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Establish refinery in Akwa Ibom, NNPC tells investors

NNPC stores two billion litres of petrol for end-of-year movement

The Group Managing Director, Nigerian National Petroleum Corporation, Dr. Maikanti Baru, on Wednesday said he had engaged investors to establish a refinery in Akwa Ibom State. According to him, Akwa Ibom State is well-positioned geographically to have a refinery. “The ...

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OPEC: Nigeria fails to provide oil output figure

OPEC: Nigeria fails to provide oil output figure

Nigeria failed to supply its crude oil production figure for last month to the Organisation of Petroleum Exporting Countries, the group’s latest monthly report released on Wednesday showed. Nigeria regained the Africa’s top oil producer status in May after it ...

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Kachikwu, Baru meet, agree on NNPC without political interference

Kachikwu, Baru meet, agree on NNPC without political interference

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu; and Group Managing Director, Nigerian National Petroleum Corporation, Dr. Maikanti Baru, met on Tuesday for the first since their disagreement broke out and agreed on one thing – a petroleum ...

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Sell Discos to new investors, Elumelu tells FG

Sell Discos to new investors, Elumelu tells FG

The Chairman, United Bank for Africa Plc and Transnational Corporation Plc, Mr. Tony Elumelu, has asked the Federal Government to take another look at the power sector by wresting ownership from incompetent private operators and sell the firms to new ...

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NNPC appointment: Agbakoba sues FG for ‘discriminating’ against S’East

NNPC appointment: Agbakoba sues FG for ‘discriminating’ against S’East

A former president of the Nigerian Bar Association, Dr. Olisa Agbakoba (SAN), has sued the Federal Government for allegedly discriminating against the South-East geopolitical zone in its July 5, 2016 appointment into the board of the Nigerian National Petroleum Corporation. ...

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Collect N40bn electricity debts from states, FG charges Discos

Collect N40bn electricity debts from states, FG charges Discos

The Federal Government on Monday charged electricity distribution companies to engage state governments in order to collect the outstanding electricity debt amounting to about N40bn owed by the Ministries, Departments and Agencies of the various state and local governments. It ...

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EFCC charges oil marketers with N7.8bn fraud

EFCC charges oil marketers with N7.8bn fraud

The Economic and Financial Crimes Commission on Monday arraigned two oil marketers and their firms for an alleged fraud of N7.8bn. The defendants – Ogbor Eliot; Godwin Okoronkwo; Danium Energy Services Ltd.; and Petrosol Energy Ltd. – were arraigned on ...

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50 million Nigerians have no electricity, says Osinbajo

Vice President Yemi Osinbajo on Monday said 50 million people out of the nation’s 180 million population have no access to electricity. “Nigeria’s 180 million people, over 50 million have no power,” Osinbajo said in his keynote address at the Financial ...

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Oil workers’ planned strike could cost Nigeria N150bn daily – LCCI

Oil workers’ planned strike could cost Nigeria N150bn daily – LCCI

The Lagos Chamber of Commerce and Industry has estimated that Nigeria will lose about N150bn daily if the National Union of Petroleum and Natural Gas Workers and the Petroleum and Natural Gas Workers Senior Staff Association of Nigeria should embark ...

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FG Approves Sale of Three NIPP Gencos

FG Approves Sale of Three NIPP Gencos

Three electricity generation companies (Gencos) built by the Niger Delta Power Holding Company (NDPHC) under the National Integrated Power Projects (NIPPs) would soon be sold to private investors in continuation of the 2013 NIPP privatisation that was suspended, the Managing ...

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NNPC: Gas Company Profit Drops By N6.7bn

NNPC: Gas Company Profit Drops By N6.7bn

The Nigerian Gas Processing and Transportation Company Limited (NGPTC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), has declared a profit after tax of N15.81 billion for its 2016 trading year, some N6.79 billion less than what it made ...

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Kachikwu’s leaked memo rekindles scandal around NNPC

Kachikwu’s leaked memo rekindles scandal around NNPC

A leaked memo from Nigeria’s minister of state for Petroleum Resources has shown that irregularities in the state-owned oil giant remain entrenched, despite official vows to root out the “cancer” of graft. Emmanuel Ibe Kachikwu wrote to President Muhammadu Buhari ...

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Nigeria’s electricity law near perfect – Fashola

Nigeria’s electricity law near perfect – Fashola

The Electric Power Sector Reform Act that was passed in 2005, which serves as Nigeria’s electricity reform law, is one of the best in the world and is almost perfect, the Minister of Power, Works, and Housing, Babatunde Fashola, has ...

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Kachikwu/Baru feud: Presidency keeps mum, Senate to probe NNPC boss

Kachikwu/Baru feud: Presidency keeps mum, Senate to probe NNPC boss

Twenty-four hours after a letter he wrote to President Muhammadu Buhari was made public, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, on Wednesday joined his colleagues for the weekly Federal Executive Council meeting at the Presidential Villa, ...

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NNPC reopens Ibadan depot

NNPC reopens Ibadan depot

The Group Managing Director, Nigeria National Petroleum Corporation, Maikanti Baru, on Wednesday reopened the NNPC depot in the Apata area of Ibadan, Oyo State after some years of inactivity. Baru said that President Muhammadu Buhari was concerned about ease of ...

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