OIL & GAS
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NNPC, marketers meet over petrol smuggling, others
Officials of the Nigerian National Petroleum Corporation are currently meeting with oil marketers over issues bordering on the rise in…
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No petrol price increase in May, says NNPC
The Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, on Monday announced that there would be no…
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Oil, gas export revenue fell by $2.23bn in 2020 – NNPC
Nigeria’s revenue from the exports of crude oil and gas fell to $2.62bn in 2020 from $4.85bn in the previous…
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Nigeria’s exact crude oil production volume unknown – NEITI
The exact volume of crude oil produced in Nigeria, especially at the deep offshore fields, is not known by anyone,…
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Nine power plants shut, FG apologises for outages
The Federal Government on Thursday said nine power plants were currently shut down, as this was why power outages had…
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Oil jumps to $66 on signs of rising crude demand
The international oil benchmark, Brent crude, surged by five per cent on Wednesday, after a report from the International Energy…
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Ministers, others seek new approach to stimulating investments in energy
Stakeholders in the and energy sector have raised concern about Nigeria’s energy outlook, insisting that unless the country addresses critical…
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Oil price gains for fifth consecutive month
The average global crude oil prices have continued to rise for the fifth consecutive month, the Organisation of the Petroleum…
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BUA, 27 others now have active refinery licences, says DPR
The Department of Petroleum Resources said on Tuesday that 28 investors, including BUA Refinery & Petrochemicals Limited, have active refining…
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Pipeline vandalism reduced by 37.21% in January – NNPC
The Nigerian National Petroleum Corporation on Tuesday announced a 37.21 per cent decrease in cases of pipeline vandalism across the…
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DPR revokes 32 refinery licences, says Dangote plant 80% complete
Thirty-two refinery project licences issued to private investors in the country have become invalid in the past three years, according…
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Gas expansion project’ll lift 100 million from poverty – Sylva
The Federal Government on Monday said that it would lift no fewer than one hundred million Nigerians out of poverty…
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Electricity generation falls to 3,922MW, 11 plants idle
Electricity generation in the country fell below the 4,000 megawatts mark on Sunday as 11 plants were idle, even as…
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Marketers project petrol price reduction as oil falls
Brent, the oil against which Nigeria’s crude is priced, continued its fall in price on Thursday with oil marketers in…
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NNPC to resume oil exploration in Sokoto Basin
The Nigerian National Petroleum Corporation on Thursday announced plans to resume active oil exploration in Sokoto Basin. A statement issued…
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Hope for Nigeria as Africa awaits 428 new oil, gas projects
Over 428 oil and gas projects are expected to be developed in Africa’s oil and gas sector before 2025, a…
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NNPC targets 18-month completion, signs $1.5bn Port Harcourt refinery repair contract
The Nigerian National Petroleum Corporation on Tuesday officially signed the contract with Tecnimont SPA for the $1.5bn rehabilitation programme of…
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Fuel marketing companies suffer N331.54bn revenue drop
Five of the major oil marketing companies in the country saw their total revenue plunge by N331.54bn last year amid…
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NGO tackles Chevron over oil spill in Gbaramatu
The Centre for Peace and Environmental Justice on Monday said the failure of Chevron Nigeria Limited to accept responsibility for…
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Oil rally pushes Nigeria’s revenue above budget estimate
The upturn in the price of the international oil benchmark, Brent crude, has pushed Nigeria’s oil revenue above the estimate…
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