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OIL & GAS

Why illegal refineries thrive in Niger Delta, by oil marketers

JTF Pull Down Biggest Illegal Oil Refineries in Delta

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has blamed the thriving of illegal refineries in the Niger Delta on non-supply of petroleum products by the Nigerian National Petroleum Corporation (NNPC). The Rivers chapter chairman of the association, Emmanuel Inimgba, ...

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Presidency, Senate, Reps assure Nigerians of PIGB passage

Presidency, Senate, Reps assure Nigerians of PIGB passage

The Presidency, the Senate and House of Representatives have assured Nigerians of their resolve to see the Petroleum Industry Governance Bill (PIGB) through in the current dispensation. They disclosed this at the opening ceremony of the 18th International Health Safety ...

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NNPC: 45 Withdrawals Made from NLNG Dividends Account Since 1999

NNPC increases June selling prices of crude oil

It was gale of revelation Thursday as the Senate Committee on Gas, investigating the alleged $1.05 billion withdrawn from the Nigeria National Petroleum Corporation (NNPC) dividend in the Nigeria Liquefied Natural Gas (NLNG), was told that over 45 withdrawals were ...

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As NNPC Returns to Loss-making Streak

NNPC says top fresh management appointments based on merit

The Nigerian National Petroleum Corporation may have returned to its old loss-making operation after the positive performance it recorded between February and July this year, writes Chineme Okafor For six months – between February and July 2018, the NNPC recorded ...

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DPR Assures Nigerians of Adequate Fuel Supply

DPR Launches Guidelines For Nigeria’s Upstream Sector

The Department of Petroleum Resources (DPR) has allayed fears of Nigerians, especially Plateau citizens that there might be scarcity of fuel during the yuletide season. According to the DPR, there is about 30 million litres of fuel in stock at ...

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Marketers Beg FG to Pay N800bn Outstanding Subsidy Claims

Marketers Beg FG to Pay N800bn Outstanding Subsidy Claims

Oil marketers under the aegis of Major Oil Marketers Association of Nigeria (MOMAN) and Depot and Petroleum Products Marketers Association (DAPPMA), have appealed to the federal government for prompt payment of over N800 billion outstanding subsidy claims owed them to ...

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NERC: Discos Yet to Provide Meters for 57% of Electricity Users

Discos Move To Install Six Million Meters

The Nigerian Electricity Regulatory Commission (NERC) yesterday disclosed that in every 10 users of grid generated electricity supplied by the 11 electricity distribution companies (Discos) in Nigeria, nearly six of them, representing 57 per cent, have remained unmetered, indicating that ...

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NLNG To Spend Over $9.4bn On Trains 7&8

PETAN restates need for local content, lauds NLNG’s Train 7 stakeholders

Over $9.4billion will be spent by the Nigeria Liquefied Natural Gas (NLNG) to finance the construction of Trains 7&8. The trains would be used to export Liquefied Natural Gas (LNG) to interested buyers/nations, its former Managing Director, Mr. Godswill Ihetu, ...

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Nigeria Can’t Attain 40bn Barrels Oil Reserve – NAPE

Too early to rejoice as oil price hits $35

The absence of fiscal policy will continue to retard investments flow in Nigeria’s oil and gas industry, such that attainment of 40 billion crude oil reserve will not be realized, the Nigerian Association of Petroleum Explorationists, NAPE, has said. The ...

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2019: Why Niger-Delta States Can’t Take 100% Of Oil Revenues – Atiku

Reduce petrol pump price, suspend stamp duty, Atiku tells FG

The presidential candidate of the Peoples Democratic Party, Atiku Abubakar, has said he is willing to let Nigeria’s oil producing states have absolute control of crude oil revenues from their domains, but added he is reluctant to immediately implement such ...

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Labour Should Intensify Struggle For Passage Of PIRB – Ex-PENGASSAN President

Labour Should Intensify Struggle For Passage Of PIRB - Ex-PENGASSAN President

Former President of Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, Dr. Brown Ogbiefun, has urged Organized Labour in the country to step up push for passage of the Petroleum Industry Reform Bill (PIRB) into law. Ogbeifun who ...

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NERC Accuses Discos of Withholding Electricity Market’s Monthly Revenues

NERC Accuses Discos of Withholding Electricity Market’s Monthly Revenues

Buhari rejects commission’s car procurement request The Nigerian Electricity Regulatory Commission (NERC) has accused the electricity distribution companies (Discos) of deliberately capping their monthly revenue remittances and keeping more money for themselves. This is coming as President Muhammadu Buhari has ...

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African marginal producers urged to leverage opportunities

African marginal producers urged to leverage opportunities

Chairman, Green Energy International Ltd., Prof. Anthony Adegbulugbe, has said marginal oil field producers in Africa must leverage unique opportunities in the oil and gas business to survive. Adegbulugbe, who spoke at the African Marginal & Independent Oil and Gas Producers ...

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NNPC eyes over 14% control of downstream retail market

Nigeria saves N673b from refining oil abroad

The Nigerian National Petroleum Corporation says it is set to go beyond the 14 per cent local market share it currently holds in the country’s downstream retail business. To achieve this target, the Corporation said it has expanded its retail ...

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Senate uncovers fresh $1.151b illegal withdrawals from NLNG

Senate uncovers fresh $1.151b illegal withdrawals from NLNG

The Senate yesterday said it again uncovered illegal multiple withdrawals of $1.151 billion from the dividends accounts of the Nigeria Liquefied Natural Gas (NLNG) by the Nigeria National Petroleum Corporation (NNPC). This is apart from the $1.05 billion NNPC Group ...

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Military attacks militants, pirates, destroys illegal oil facilities in Niger Delta

Military attacks militants, pirates, destroys illegal oil facilities in Niger Delta

Youth leaders accuse contractors of sponsoring pipeline job protests The military has attacked militants, pirates and destroyed illegal oil facilities in the Niger Delta. The ongoing Operation Crocodile Smile III in 6 Division Area of Responsibility (AOR) of the Nigerian ...

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Nigeria to raise oil, condensate outputs in 2019

Senate penalises gas flaring in new bill, offenders to pay N10 million fine

• David-West faults directive on gas flaring Nigeria is to increase its daily oil production to 1.8 million in 2019. It would also raise its condensate output by 0.5 million bpd during the period. The Group Managing Director of the ...

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NNPC Slides into Loss after Six Months of Profit

NNPC increases June selling prices of crude oil

The August 2018 edition of the monthly financial and operations report of the Nigerian National Petroleum Corporation (NNPC) released Thursday indicated that after about six months of recording back-to-back profit on its operations, the corporation slid back to loss-making with ...

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Kachikwu: Nigeria’s Oil Output Hits 2.2mbpd Early 2019

Nigeria, Saudi Arabia meet to boost refineries, pipelines, others

Crude oil rebounds to $73 over Russia, Saudi output cut talks Nigeria’s oil production is set for a timely boost, climbing to around 2.2 million barrels per day (mbd) by early 2019 with the start-up of the giant 200,000 barrels ...

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Paucity of funds pushes refineries’ maintenance to 2020

Paucity of funds pushes refineries’ maintenance to 2020

• Nigeria makes $470m from oil, gas exports State-owned refineries are to be revived in 2020 after financing talks dragged on. “It is not likely to happen by the end of 2019 because the financing talks for the joint ventures ...

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