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OIL & GAS

NNPC faults presidential panel, restates commitment to transparency, due process

NNPC faults presidential panel, restates commitment to transparency, due process

The Nigerian National Petroleum Corporation (NNPC) yesterday restated its commitment to transparency and due process, especially with regard to an alleged breach of Treasury Single Account (TSA) policy. Special Presidential Investigative Panel for the Recovery of Public Property had alleged ...

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World’s largest atmospheric tower built for Dangote refinery leaves China for Nigeria

World’s largest atmospheric tower built for Dangote refinery leaves China for Nigeria

China’s leading energy and chemical company, Sinopec, on Monday, said that it had built the world’s largest atmospheric tower for Nigeria’s Dangote Refinery. On its verified Twitter handle, the company shared photos of the tower and revealed that it (tower) ...

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NNPC Seeks Chevron’s Support To Construct Condensate Refinery

NNPC Seeks Chevron’s Support To Construct Condensate Refinery

As part of efforts to grow local refining capacity, the Nigerian National Petroleum Corporation (NNPC) has called for collaboration with Chevron Nigeria Limited to establish a condensate splinter refinery. The appeal was made on Thursday by the Group Managing Director ...

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Govt Won’t Renew Expired Oil Block Licences – Kyari

Saudi refinery attack shocking –NNPC

  There is no immediate plan by the Federal Government to renew the expired oil block licences, particularly those belonging to international oil companies operating in the country, the Group Managing Director of the Nigerian National Petroleum Corporation, Mr Mele ...

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NNPC To Guarantee Energy Security For Nigeria Through DSDP Arrangement

NNPC signs agreement with NAOC on four OMLs

The Nigerian National Petroleum Corporation is set to leverage on the existing Direct-Sales-Direct-Purchase product supply arrangement to guarantee energy security for the nation. The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Mallam Mele Kyari, made this commitment, ...

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Inconsistency as NNPC spends N843b on fuel subsidy

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

• Payment peaked during 2019 general elections It was inconsistency all the way as it was gathered yesterday that the Nigerian National Petroleum Corporation (NNPC) spent N843.121 billion on fuel subsidy in 13 months. The disturbing revelation comes at a ...

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NLNG, LCCI task stakeholders on electric power generation, renewables

NLNG, LCCI task stakeholders on electric power generation, renewables

Nigeria LNG Limited (NLNG), and the Lagos Chamber of Commerce and Industry (LCCI), have called for improved efforts in finding solutions to the power challenges as well as in exploring other energy sources by cashing in on new ideas that ...

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DPR to sanction operators for non-compliance to production data

DPR Begins Fuel Digital Measurement To Check For Under-Dispensing

With about 2,616 wells accounting for Nigeria’s daily oil production, the Department of Petroleum Resources (DPR), has said it will sanction erring operators in the oil and gas industry who fail to report their operations into the National Production Monitoring ...

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Dangote Refinery to reduce fuel importation in Nigeria, others

Insurance sector may lose 72% of Dangote refinery’s risk

The sub-Saharan Africa (SSA) region is expected to be the direct beneficiaries of the 650,000 barrels-per-day Dangote refinery as the project is expected to drastically reduce the countries’ fuel import majorly from Europe with the expected impact on foreign exchange ...

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IEA affirms OPEC’s concern on oil glut in 2020

IEA affirms OPEC’s concern on oil glut in 2020

•Nigeria optimistic of steady price, increased production Though the oil market witnessed significant surplus in the first half of 2019, much larger than previously expected, supplies are set to tighten in the second half of the year, but that may ...

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Total, partners, stake N900 million in infrastructure development in north

Total, partners, stake N900 million in infrastructure development in north

Total Upstream Companies in Nigeria, and its partners, including Nigeria National Petroleum Corporation (NNPC), Petrobras, Sapetro and Cnooc, have invested N900 million to address infrastructure challenges in the northern region of the country. Speaking at the inauguration of projects in ...

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DPR reiterates zero tolerance to infractions, lifts Petrocam’s sanctions

DPR reiterates zero tolerance to infractions, lifts Petrocam’s sanctions

The Department of Petroleum Resources (DPR), yesterday, reiterated its stance about non-tolerance of acts of infractions from licensed operators, even as it lifted the sanctions meted on a downstream marketing company, Petrocam Trading Nig. Ltd., for violating the agency’s rules ...

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Power Supply Worsens Despite N5trillion Investments – Report

Again, DisCos at loggerheads with TCN over transmission infrastructure

The power situation in Nigeria has continued to worsen over the years despite the substantial investments in the sector by past and present administrations in the country, a new report has said. NOIPolls Limited said in its ‘Power Poll Q2 ...

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Governors Seek Ways To Achieve Fiscal Stability From Oil Revenues

Fayemi wants Senate scrapped, Oronsaye report implemented

Nigerian governors are seeking ways to achieve steady revenue receipts from crude oil to ensure fiscal stability for both the federal and sub-national governments. The chairman of the Nigerian Governors’ Forum, Kayode Fayemi, said given the central role oil revenues ...

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Nigeria Loses $12bn Yearly to Oil Theft, Stakeholders Seek Govt Action

Nigeria Loses $12bn Yearly to Oil Theft, Stakeholders Seek Govt Action

Nigeria loses between $7 billion and $12 billion to crude oil theft annually, a study by the Nigeria Natural Resource Charter (NNRC) has found, prompting reactions from stakeholders on the implications for the country’s critical sectors like health and education. ...

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NNPC hints of fuel pump price rise, says N145 cheapest in West Africa

Fuels Marketers To Improve Supply Ahead Of Yuletide

Nigerian National Petroleum Corporation (NNPC) has hinted that pump price of premium motor spirit (PMS) may be increased soon, as it described the N145 pump price as the cheapest in West Africa. The new Group Managing Director (GMD), Mele Kyari, ...

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GEIL invests $350 million in new wells, field development

GEIL invests $350 million in new wells, field development

Green Energy International Limited (GEIL), operator of the Otakikpo Marginal Field, in oil mining lease (OML) 11, Rivers State, said it has secured a $350million financing package for the second phase development of the field. GEIL said the fund was ...

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NNPC’s financials clean, open to EFCC, says Baru

NNPC’s financials clean, open to EFCC, says Baru

•Prioritise passage of PIB, oil workers beg new GMD Immediate past Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, yesterday said the organisation’s financial books were clean and open to scrutiny. Speaking at a valedictory ...

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‘Why oil vandals outsmart protection techniques’

‘Why oil vandals outsmart protection techniques’

• Pipeline explosion kills two burns 30 vehicles in Lagos • We’re exploring modern methods to curb menace, says NNPC • Expert laments absence of leak detection system in Nigeria The continued vandalisation of oil assets in Nigeria has again ...

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FG saves $1.7bn from managed interventions for petrol importation

FG saves $1.7bn from managed interventions for petrol importation

The Nigerian National Petroleum Corporation (NNPC), yesterday, defended its role in the importation of Premium Motor Spirit, otherwise known as petrol, noting that its intervention has helped to check false claims for subsidy arising from smuggling of the product to ...

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