Oil, Gas and Energy

The Nigerian National Petroleum Company Limited (NNPC) has finally spud Ebenyi-A well in Nasarawa State, four months after it officially made the announcement. Besides, the company is also frantically working to spud the Wadi-B in Borno state, tentatively by the second week of…

Nigeria’s fuel subsidy removal is affecting refineries far away in Europe and threatening to squeeze European refiners, Reuters reports. The average monthly West African (WAF) gasoline imports fell by 56 per cent in the second quarter compared with the first, according to Refinitiv…

The Nigerian National Petroleum Company Limited (NNPCL) has said the country recorded 240 incidents of crude oil thefts between July 15 and July 21, 2023. The company stated this on Tuesday via its official Twitter account. According to the NNPCL, the war against crude…

Goldman Sachs yesterday predicted that an ‘all-time high’ demand in oil markets leading to a sizeable deficit was in the offing, projecting that Brent crude will rise from above the over $80 per barrel now to $86 per barrel by year end. The…

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said Nigeria’s daily petrol consumption has fallen from 65 million litres per day to 46.38 million litres per day following the removal of fuel subsidy by the Federal Government. The Chief Executive, NMDPRA, Ahmed…

The Federal Government has said that there are over 9,000 licensed filling stations across Nigeria that are fit for the co-location of facilities that dispense autogas fuel. This was contained in a communique issued by the Nigerian Institute of Transport Technology at the…

A year after Nigeria’s state-oil firm secured an injunction from an Abuja high court restraining the sale of shares of ExxonMobil Nigerian units to any third party, Mele Kyari, head of the NNPCL, claims the corporation had no hand in scuttling divestment plans…

The Nigerian National Petroleum Company Limited (NNPCL) has said that there have not been payments for subsidy on Premium Motor Spirit (PMS) otherwise called petrol or fuel to marketers since January 2016. It stated that it will reconcile subsidy deductions with the federation. These…