OIL & GAS
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40 billion reserves, 4mbpd production achievable through marginal oilfields
The Federal Government on Monday said moves to produce four million barrels of crude oil per day and grow the…
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Nigeria, others lost $1tn oil revenue in two years – OPEC
Nigeria and other members of the Organization of the Petroleum Exporting Countries lost about $1tn in revenue due to the…
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FG targets private refineries to offtake over 300,000bpd
• PDP alleges plot to fritter N1.7tr through NNPC deal • Stakeholders hail decision as against refineries’ rehabilitation • Energy…
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Nigeria, Others Need $15.7b To Upgrade Refineries
African countries will need about $15.7 billion to upgrade existing 36 refineries on the continent to produce petroleum products that…
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Senate Probes NNPC’s Alleged Failure To Remit 10-Year Stamp Duty
The Senate has launched a large-scale probe into the alleged non-remittance of the one per cent stamp duty on contracts…
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NNPC Pledges Crude Supply To 20,000bpd Lagos Refinery
The Nigerian National Petroleum Corporation has committed to supply crude oil to a refinery project on Tomaro Island in Lagos,…
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NNPC’s Trading Surplus Rises To N39.85bn
The Nigerian National Petroleum Corporation, on Thursday, announced a N39.85bn trading surplus for February 2021, representing a 314.24 per cent…
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Dangote Refinery: Marketers Differ On NNPC Proposed Stake Acquisition
Oil marketers have expressed divergent views on the proposed acquisition of a 20 per cent stake by the Nigerian National…
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Power revenue improves, customers paying 78% tariffs –NERC
Revenue to Nigeria’s power sector has improved since the implementation of Service Based Tariffs that started in November 2020, the…
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Nigeria Needs $2b Monthly For Fiscal Sustainability As FG Builds Oil Reserves
The Department of Petroleum Resources (DPR) has stated that the country needs over $2 billion monthly revenue to remain sustainable…
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FG Expects First Oil From New Marginal Fields By 2022
The Federal Government has said it is expecting most of the marginal fields, which investors bid for in the recently…
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Petrol subsidy removal: NNPC awaits FG, labour resolutions today
The Nigerian National Petroleum Corporation is not halting the subsidy on Premium Motor Spirit, popularly called petrol, despite the recent…
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40% Of January Oil Revenue Spent On Assets, Projects– NNPC
About 40 per cent of the proceeds from oil and gas exports and domestic sales in January were spent on…
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NLC Meets On Govs’ N380/Litre Petrol Proposal Today, Experts Warn FG
The Nigeria Labour Congress will today (Friday) come up with its position on the recommendation by governors that the price…
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Fossil Fuels Divestment May Halt $150b Oil, Gas Projects
• IEA calls for end to fossil fuel investments with the launch of decarbonisation roadmap • Osinbajo canvasses equitable global energy…
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NUPENG Threatens Nationwide Strike Over Kaduna, Labour Dispute
The Nigeria Union of Petroleum and Natural Gas Workers said on Tuesday that it might declare a nationwide industrial action…
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N120b Petrol Subsidy To Double As CBN Adjusts Exchange Rate
• Nigeria losing N73.6b monthly to high consumption claims despite work-from-home practice • Subsidy difficult to police, poses major corruption…
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Petrol Imports Rose By 100 Million Litres In January – NNPC
Latest figures in the financial and operations report of the Nigerian National Petroleum Corporation have shown that the imports of…
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Three Refineries Processed No Crude In January – NNPC
Latest operations report of the Nigerian National Petroleum Corporation (NNPC) indicates that Nigeria’s refineries under the management of NNPC could…
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Nigeria exceeds OPEC+ production quota, to compensate by September
Nigeria exceeded the April production quota set for it by the Organisation of Petroleum Exporting Countries and its allies by…
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