OIL & GAS

State governors, on Thursday, raised concerns regarding the ownership of the new Nigerian National Petroleum Company Limited, its assets and liabilities. Consequently, the Chairman of the Council, Vice President Yemi Osinbajo, directed that a sub-committee be set up to liaise with the Federal…

One of Nigeria’s leading energy giants, Shell Petroleum Development Company of Nigeria Limited (SPDC) has disclosed that the Shell Group would not go ahead with the divestment of its interest in SPDC until the outcome of outstanding litigation against the exercise. The Head…

The Shell Petroleum Development Company has discharged five barrels of crude oil from its Trans Niger Pipeline into Bodo community in Gokana Local Government Area of Rivers State, following an operational failure. This was contained in a report of a Joint Investigation Visit…

Latest data on the amount spent in subsidising Premium Motor Spirit, popularly called petrol, seen in Abuja on Monday showed that the government subsidised the commodity with N1.593tn between January and June 2022. It was also gathered that the Nigerian National Petroleum Company…

Following the energy crisis that has engulfed Nigeria, especially the Federal Capital Territory (FCT) and other states, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has kicked-off plans to import the Automotive Gas Oil (AGO) diesel to cushion the scarcity, according to…

Shell Companies in Nigeria paid $986 million in corporate taxes and royalties to the Federal Government of Nigeria from its operations in 2021. This is even as the company spent over $800 million (about N333.6 billion) on contracts with Nigerian-registered companies in the…

The Nigerian National Petroleum Company Limited on Friday launched an applications platform to monitor crude oil theft in the country. The company launched the app in Abuja at the signing of renewed Production Sharing Contracts (PSCs) agreements between NNPC and its partners in oil mining…

The Nigerian National Petroleum Company Limited and international oil companies operating in Nigeria, on Friday, signed various agreements that would ensure the production of about 10 billion barrels of crude oil and generate over $500bn revenue to all parties involved. NNPC officials and…

Seplat Energy, on Thursday, said it had not received any official notification from the Federal Government reversing its proposed acquisition of the entire share capital of Mobil Producing Nigeria Unlimited. The company also said it was seeking clarification from relevant authorities regarding the…

Nigeria’s crude oil production plunged by 2.3 million barrels in July 2022 when compared to what the country produced in the preceding month of June, data from the Organisation of Petroleum Exporting Countries showed on Thursday. In its latest Monthly Oil Market Report…