OIL & GAS

Four oil companies – Chevron Nigeria Limited (CNL), Mobil Producing Nigeria (MPN), Shell Petroleum Development Company (SPDC) and First E&P are expected to remit N341.091 billion to the Nigerian National Petroleum Company Limited (NNPCL) this September, THISDAY has learnt. The proceeds, which are…

Residents and indigenes of Bodo community in Gokana Local Government Area of Rivers State have lamented the continuous crude oil spillages in their communities from alleged faulty facilities of Shell Petroleum Development Company (SPDC). This is according to THISDAY. THISDAY visit to the affected…

With total spending on the controversial petrol subsidy now exceeding oil revenue, the Nigerian National Petroleum Company (NNPCL) outstanding debt on what it terms under-recovery hit N1.044 trillion in July. Data from the National Oil Company (NOC) released late yesterday indicated that in…

Amid the Federal Government’s N250bn intervention funds on the National Gas Expansion Plan, which intends to deepen usage across the country, data from the Nigerian Bureau of Statistics said on a year-on-year basis, price of refilling a 12.5kg cylinder of Liquefied Petroleum…

The Nigeria National Petroleum Corporation Limited will have the first right of refusal to supply the Dangote refinery with about 300,000 barrels of crude oil per day for the next 20 years. The Group Chief Executive Officer, NNPC Ltd, Mele Kyari, disclosed this…

Shell Plc, ExxonMobil Corporation, Chevron Corporation, and Equinor ASA have said they will withdraw their lawsuits of about $3 billion, against the Nigerian National Petroleum Company (NNPC) Limited. According to court letters, dated August 22, seen by Bloomberg yesterday, the oil majors told…

Different government security outfits operating across the country have recovered stolen oil worth N86.2bn in August, according to The Punch’s findings. A total of 16, 000 litres of diesel valued at N800/litre (N12.8m) were on Monday reported to have been recovered by members…

The combined bank borrowing to oil firms operating in the downstream and upstream subsectors of the Nigerian oil and gas industry was N5.93tn as of June 2022, according to data from the Central Bank of Nigeria. While operators in the downstream, natural gas…

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mallam Mele Kyari, yesterday poured cold water on calls for the legalisation of artisanal illegal refineries in the Niger Delta. Kyari, who spoke on the state-run Nigerian Television Authority (NTA)…

The National Bureau of Statistics says on a year- on-year basis, the average retail price per litre of household kerosene increased by 98.76 per cent in July 2022. This is according to the NBS National Household Kerosene Price Watch for July 2022 released…