Nigeria has regained the top spot among crude oil producing countries in Africa with the nation’s crude oil production averaging 1.27 million barrels per day in November. The Organisation of the Petroleum Exporting Countries (OPEC) made this known in its Oil Market Report for December which was obtained by...
oil and gas
By JOY ADARA, Abuja- The Nigerian National Petroleum Company (NNPC) Limited has announced a huge leap in trading surplus of ₦141.96billion recorded in June 2021 compared to a deficit of ₦37.46Billion in May 2021. This is contained in the June 2021 figures of the NNPC Monthly Financial and Operations...
Managing Director, Shell Nigeria Gas & President Nigerian Gas Association , Ed Ubong has called for urgent strategy to grown Nigeria’s capacity in the gas sub-sector. This, according to him, would ensure that gas is used to spur industrial development across all parts of the country. “We need to begin...
The Minister of State for Petroleum, Chief Timipre Sylva, says the Federal Government is currently working to grow the country’s gas reserve from 206 trillion cubic feet to 600 TCF. Sylva gave the assurance on Wednesday at the 23rd World Petroleum Congress in Houston, Texas, U.S. The News Agency...
The Chief Executive Officer, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr Gbenga Komolafe, has called for the development of strategies for sustainability of Nigerian content policies in the oil and gas sector. Mr Komolafe made the call on Tuesday at the ongoing 10th Practical Nigerian Content 2021 Conference in...
The Nigerian National Petroleum Company (NNPC) Limited started its activities for the week at the World Bank Nigeria Development Update in Abuja, with a fresh commitment to the ongoing reform in the oil and gas sector in Nigeria. The event which held at the Transcorp Hilton Hotel in Abuja...
Aiteo Eastern Exploration and Production Company (AEEPCO) has promised that the wellhead in the Santa Barbara South field in Nembe, Rivers State which blew up on November 5, would be secured in 48 hours. The firm in a statement on Friday said its officials were closely monitoring all activities...
Namibia is set to increase fuel prices by 70 Namibia cents (0.04 U.S. dollar) per liter from Dec. 1 due to a hike of global oil prices, the Ministry of Mines and Energy (MME) announced Friday. The price of gasoline at the pump in Walvis Bay will become 16.65...
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has backed the Federal Government’s plan to remove subsidy on Premium Motor Spirit (PMS), also known as petrol by 2021. IPMAN’s President, Mr Chinedu Okoronkwo, told the News Agency of Nigeria (NAN) on Friday in Lagos that the Petroleum Industry Act...
The Nigeria National Petroleum Company Limited (NNPC), Gas Aggregation Company of Nigeria (GACN) and Nasarawa State Government have signed a Memorandum of Understanding (MoU) for the supply of gas to industries and investors in Nasarawa State. The MoU for the gas supply was signed on Thursday in Lafia at...
The Ijaw National Congress (INC) has berated Aiteo Eastern Exploration and Production Company over alleged poor response to the Nov. 5 spill from its oilfields in Nembe, Bayelsa. The group noted that it was wrong for Aiteo to attribute the wellhead leak within its oil bloc in the Nembe...
Aiteo Eastern Exploration and Production Company says it is seeking foreign technical expertise to halt the ongoing oil leak at an oilfield it operates in Nembe, Bayelsa. It was learnt that the oil leak occurred on November 5, 2021. Aiteo, in a statement issued by its spokesman, Mathew Ndianabasi,...
The Bayelsa Government has expressed worry over Aiteo Production Company’s failure to plug the leaks at its oil field in Nembe, two weeks after the incident was reported. The government’s reaction is contained in a statement issued on Friday by the Commissioner for Information, Orientation and Strategy, Mr Ayibaina...
The Export-Import Bank (AfreximBank) has signed a $US1.04 billion facility with the Nigerian National Petroleum Corporation (NNPC) to finance the exploration of petroleum. The agreement was concluded on Tuesday in Durban during the second Intra-Africa Trade Fair (IATF2021), which opened on Nov.15 and runs until Nov. 21, 2021, a...
The Federal Government has said it is implementing measures to address insecurity and crude theft affecting oil production in the country. Mr Gbenga Komolafe, Chief Executive Officer, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), said this at the Nigerian Association of Petroleum Explorationists (NAPE) 2021 conference on Tuesday in Lagos....
Aiteo Eastern Exploration and Production Company (AEEPCO), operator of Oil Mining Lease (OML 29) has said the volume of oil leakage from its operations in Bayelsa was yet to be determined. The management of AEEPCO in a statement issued on Wednesday by its spokesperson, Mr Mathew Ndianabasi, confirmed that...
As part of efforts to ensure that the autogas conversion of vehicles yielded the desired results, the Federal Government says it has set aside N250 billion for willing investors in autogas assembly plants in the country. The Minister of State for Petroleum Resources, Mr Timipre Sylva, disclosed this on...
By JOY ADARA, Abuja – The Nigeria National Petroleum Corporation (NNPC) Limited has urged the public not to engage in panic buying of Premium Motor Spirit, more commonly known as petrol. The Group General Manager, Public Affairs Division, Garba Deen Muhammad, who stated this in a statement on Monday,...
The Nigerian National Petroleum Company Limited (NNPC) started the week with the commendation of stakeholders in the nation’s political and industrial sectors on the successful activation of the Petroleum Industry Act (PIA 2021). It would be recalled that the Act was signed into law by President Muhammadu Buhari on...