Oil, Gas and Energy

NNPC Prospects for Oil in Niger, Borno – Report

The Nigerian National Petroleum Company Limited is prospecting for crude oil in more locations across the north, after discovering the commodity in Bauchi and Gombe states. NNPC stated that it was currently taking coordinated steps for more frontier exploration in the region, as…

05/01/2023

Scarcity: FG Plans Inspection of Fuel Stations’ Tanks

Oil marketers on Sunday said the Federal Government should evacuate and dispense the products currently trapped in the depots which were shut down recently by the Nigerian Midstream and Downstream Petroleum Regulatory Authority. Marketers said the products should be dispensed at the regulated…

02/01/2023

Stolen Crude Oil: NNPC, Security Agencies Destroy Barge, Filling Station in N’Delta

The Nigerian National Petroleum Company Limited (NNPC) yesterday again announced that it had destroyed a barge carrying illegal crude oil as well as a filling station which has been receiving stolen products. In a note last night, the national oil company stated that…

01/01/2023

Oil Spills: Shell Set to Pay €15m Compensation to N’Delta Farmers

Shell Petroleum Development Company (SPDC) yesterday announced that it would pay €15 million to farmers in three Niger Delta communities as compensation for damages to their farms from pipeline leaks between 2004 and 2007. The villages are Goi in Ogoni land, Rivers State;…

24/12/2022

15 Years After, NUPRC Announces Bid for Seven Deep Offshore Oil Assets

Fifteen years after it last put up about 45 deep offshore assets for public bidding, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), yesterday announced that the process to invite Nigerian and foreign oil industry players to apply for seven more facilities had…

22/12/2022

Oil Earnings Rise by N308.6bn

Nigeria’s crude oil earnings rose by about N308.6bn within two months following the recent increase in the country’s oil output due to concerted efforts by the Nigerian National Petroleum Company Limited and security agencies to halt oil theft. Data accessed from the Nigerian…

19/12/2022

NNPC Oil Theft Onslaught Yielding Results As Production Hits 1.59m Barrels Daily In Dec

The historic step taken by the Nigerian National Petroleum Company Limited (NNPCL) to launch an onslaught against oil theft which had ravaged oil production capacity is fast paying off as oil production has risen to 1.59 million barrels per day (bpd) in…

16/12/2022

NNPC Price Slash Fails to End Fuel Queues

The queues for Premium Motor Spirit, popularly called petrol, may continue in many states despite the 17 kobo slash in the ex-depot price of the commodity, oil marketers stated on Wednesday. Members of the Independent Petroleum Marketers Association of Nigeria said the supply…

15/12/2022

NEITI: 619.7m Barrels of Crude Oil Valued at N16.25trn Lost to Theft, Sabotage in 12 Years

As the federal government continues to search for a lasting solution to the bleeding in the oil sector, the Nigeria Extractive Industries Transparency Initiative (NEITI) yesterday revealed that in the period spanning between 2009 and 2020, Nigeria lost as much as 619.7…

15/12/2022

IPMAN to Get Petrol Direct From NNPCL

MEMBERS of the Independent Marketers’ Association of Nigeria (IPMAN) are to get supply from the direct the Nigeria National Petroleum Company Limited (NNPCL), it was learnt yesterday. Details of a major understanding between the oil giant and marketers came as stakeholders in petrol…

12/12/2022

Oil, Gas and Energy

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