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OIL & GAS

FG Gazettes New Gas Flaring Law

The federal government is set to stiffly penalise offenders of gas flaring in the country, after several years of leaving it at a meagre fine of N10 per thousand standard cubic feet of gas flared by oil companies in the ...

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Price Of Cooking Gas Rises Marginally – NBS

NNPC To Crash Cooking Gas Price

The National Bureau of Statistics (NBS) said the average cost of refilling a five kilogramme (kg) cylinder of Liquefied Petroleum Gas (Cooking Gas) increased to N2,05.14 in August from N2,01.45 recorded in July. The NBS disclosed this in its August ...

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BP, others shun Nigeria’s crude oil over prices

Poor regulation stalling local crude refining, says MOMAN

Nigerian crude oil differentials were largely unchanged yesterday, after a series of offers from Shell for October-loading cargoes drew no buyers, and even BP, which has been an active bidder this week, showed unwillingness to pay higher prices. Shell was ...

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Regulators equivocate on kerosene importation, as scarcity worsens

Prices Of Kerosene, Diesel Rise To Two Year High In April Over Higher Oil Prices

Industry regulators, the Department of Petroleum Resources (DPR), and Petroleum Products Pricing Regulatory Agency (PPPRA), have deliberately withheld importation data for kerosene, as scarcity hits the market with price differentiation.Even the Nigerian National Petroleum Corporation (NNPC), the biggest importer of ...

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Drop in US Inventories, Iranian Sanctions Push Oil Price to $80

2020 Budget: FG Retains $55 Benchmark Despite Oil Price Spike

Crude oil futures climbed wednesday, with Brent reaching $80 per barrel, after a larger-than-expected drop in United States crude inventories and as US sanctions on Iran added to concerns over global oil supply. US crude inventories fell by 5.3 million ...

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NNPC Turns to China for Expertise in Oilfield Development

NNPC Agrees to $2.5bn Financing with Chinese Lender for Pipeline Project

The Nigerian National Petroleum Corporation (NNPC) has said it is considering going into a partnership with the China National Offshore Oil Corporation (CNOOC), to develop its expertise in oilfield services. CNOOC, a global leader and China’s largest producer of offshore ...

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Barkindo: Why OPEC’s Alliance with Non-members Have Been Successful

Barkindo: Why OPEC’s Alliance with Non-members Have Been Successful

The Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Dr. Mohammad Sanusi Barkindo, has explained why the alliance the cartel entered with non-members of OPEC led by the Russian Federation to rebalance the prices of crude oil has ...

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PIB Passage Uncertain As Elections Draw Near

PIB Passage Uncertain As Elections Draw Near

Ten years after the first draft of the Petroleum Industry Bill was sent to the National Assembly, the fate of the bill, which was split into four parts by the current legislature for easy passage, is still hanging in the ...

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PENGASSAN, NUPENG Pledge Collaboration With NCDMB

BEARS: PENGASSAN Mourns

The joint national executive of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and their counterpart Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) has pledged their readiness to collaborate with the Nigerian Content Development and Monitoring ...

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FG Wants Agip To Partake In N’Delta Remediation

Agip Enhance Local Capacity With Geoscience Workstations

The federal government has solicited the support of Nigeria Agip Oil Company (NAOC) in its current remediation (NAOC) efforts in the Niger Delta region, noting that such activities were hamstrung by paucity of funds. It also advised the international oil ...

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Oil Workers Threaten Strike Over Alleged Army Brutality

Oil Workers Threaten Strike Over Alleged Army Brutality

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has urged the Chief of Army Staff, Lt Gen Tukur Buratia  to urgently redeploy soldiers unlawfully being used to brutalize workers in two oil firms in Delta State under 24 ...

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Buhari seeks China’s support for Mambilla power project

Nigeria- China Currency Deal: Nigerian Shippers Become First Casualty As Conspiracy Swirls

President Muhammadu Buhari yesterday asked for the support of the Chinese government towards the completion of the Mambilla Power Project in Taraba State. He made the request during the signing of an agreement with President Xi Jinping on the sidelines ...

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Ajaokuta Steel, foreigners owe power sector N12.2 billion

Ajaokuta Steel, foreigners owe power sector N12.2 billion

The Ajaokuta Steel Company and other international customers owe the power sector N12.2b, according to the 2018 first quarter report of the Nigerian Electricity Regulatory Corporation (NERC). NERC disclosed yesterday that in the period under review, invoices issued to foreign ...

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NNPC, Chinese consortia sign pacts on biofuel development

Buhari removes Baru, appoints Kyari as NNPC GMD

The Nigerian National Petroleum Corporation (NNPC) has signed memoranda of understanding (MoUs) with Chinese consortia to develop sustainable biofuels in the country. At a ceremony yesterday in Beijing on the sidelines of the Forum for China-Africa Cooperation (FOCAC) Summit, the ...

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NNPC-FAAC Revenue Template Will Be Ready This Month – Adeosun

NNPC-FAAC Revenue Template Will Be Ready This Month - Adeosun

The Minister of Finance, Mrs. Kemi Adeosun, has said the revenue reporting template to be used by the Nigerian National Petroleum Corporation (NNPC) for remittances to the Federation Account Allocation Committee (FAAC) will be ready in September. Adeosun made the ...

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House Committee Blames DPR for Loss of $21bn

DPR Begins Fuel Digital Measurement To Check For Under-Dispensing

The House of Representatives ad hoc Committee investigating alleged loss of $21 billion by Nigeria to expired agreements on Production Sharing Contracts (PSCs) with the international oil companies (IOCs) has blamed the Department of Petroleum Resources (DPR) for failing to ...

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NNPC To Establish 200,000bpd Condensate Refineries

Buhari removes Baru, appoints Kyari as NNPC GMD

The Nigerian National Petroleum Corporation has said it will establish two condensate refineries with a total refining capacity of 200,000 barrels per day at Western Forcados Area and Assa North/Ohaji South Areas of Delta and Imo states. Natural gas condensate ...

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NNPC Plans New Subsidiary for Commercial Bunkering Operations

NNPC Agrees to $2.5bn Financing with Chinese Lender for Pipeline Project

The Nigerian National Petroleum Corporation (NNPC) has disclosed it would set up a new subsidiary company to undertake the business of commercial petroleum products bunkering on the waters of Nigeria. It explained in a statement its Group General Manager, Public ...

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Egina FPSO sail-away buoys oil, gas production increase

Egina FPSO sail-away buoys oil, gas production increase

Anticipated increase by 200,000 barrels of oil per day to Nigeria’s oil production (approximately 10 per cent of the country’s total oil production) received impetus following the successful sail-away of the Egina Floating, Production, Storage and Offloading (FPSO). This comes ...

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Chevron, NNPC Spend over N20.6bn on Projects in Delta, Others in 13 Years

NNPC Seeks Chevron’s Support To Construct Condensate Refinery

The joint venture between Chevron Nigeria Limited (CNL) and the Nigerian National Petroleum Corporation, (NNPC), through Global Memorandum of Understanding (GMoU) with communities in its area of operations, has spent over N20.6 billion on various programmes in Delta and other ...

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