OIL & GAS

The Nigerian National Petroleum Company Limited (NNPCL), has shifted the delivery date for the $700m Obiafu-Obrikom-Oben gas pipeline project (OB3), from March 2024 to August. The company’s Chief Corporate Communications Officer, Olufemi Soneye revealed this in a statement over the weekend. According to the…

The Vice President, Oil and Gas at Dangote Industries Limited (DIL), Devakumar Edwin, has accused International Oil Companies (IOCs) in Nigeria, of doing everything to frustrate the survival of Dangote Oil Refinery and Petrochemicals. Speaking to a group of Energy Editors at a…

The Nigerian National Petroleum Corporation Ltd, and the operator of OML 58 onshore license in Nigeria with a 40 per cent interest, TotalEnergies, have signed a $550m Final Investment Decision (FID) for the development of the Ubeta gas field. Located about 80 km…

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has announced an extension to the 2024 licensing bid round registration by 10 days. The Commission chief executive, Gbenga Komolafe, who shared this in Abuja on Tuesday, said the extension is to allow interested investors to…

Nigeria’s crude oil production made a record decline to 1.25 million barrels per day in May 2024, according to the Organisation of Petroleum Exporting Countries. The OPEC monthly oil market report for June seen by Channels Television, puts the country’s average daily output…

The OPEC+ group of oil-producing nations agreed Sunday to extend their production cuts in a bid to support prices, as economic and geopolitical uncertainty looms over the market. The 12-member oil cartel and its 10 allies decided to “extend the level of overall…

Crude oil production is nearing 1.7 million barrels per day, according to the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari. ADVERTISEMENT This was revealed by the NNPCL boss, as he addressed stakeholders at an engagement between the Nigerian…

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), on Tuesday, met with key major oil marketers to address the issues of incessant scarcity of petroleum products in the country. ADVERTISEMENT NMDPRA Chief Executive Officer, Farouk Ahmed, who briefed newsmen on the outcome of…

In a bid to attract fresh investments and ramp up oil output, the Federal Government yesterday, announced the removal of the signature bonus requirement in bidding for oil blocks. Minister of State for Petroleum Resources, and Oil, Mr Heineken Lokpobiri, disclosed this on the…

In an unprecedented move, Dangote Petroleum Refinery has announced a further reduction of the price of diesel from N1,200 to N1,000 per litre. In a Tuesday release, the company said “While rolling out the products, the refinery supplied at a substantially reduced price…