The Nigerian National Petroleum Company Limited (NNPC Ltd.) says it has intercepted an illegal Crude Oil Barge and arrested six suspected crude thieves in Warri, Delta State. Tantita Security Services Nigeria Limited, a private security contractor, engaged bythe NNPC Ltd. made the arrests. Speaking, Captain Warredi Enisuoh, Executive Director,...
oil and gas
Mr Mele Kyari, the Group Chief Executive Officer, Nigerian National Petroleum Company Ltd. (NNPCL), has called on African countries to take advantage of the implementation of the African Continental Free Trade Agreement (AfCFTA). Kyari said this would help to diversify their energy sources into a sustainable and low-carbon energy...
The Nigerian Upstream Downstream Regulatory Commission (NUPRC) says the Federal Government has concluded plans to explore alternative funding models for development of the country’s oil and gas resources. Mr Gbenga Komolafe, the Commission Chief Executive of NUPRC, said this on Monday during the opening ceremony of the Petroleum Technology...
The Nigerian National Petroleum Company Limited (NNPC Ltd) says it has so far spent over 1.1 billion dollars on the ongoing construction of the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline and Station project from its cash-flow. The NNPC Limited GCEO, Malam Mele Kyari said this on Monday while touring some of...
Shell Petroleum Development Company Nigeria Limited, TechnoOil Group, Schlumberger and other international and indigenous oil and gas companies emerged winners at the sixth edition of the Nigeria International Energy Summit (NIES 2023) Industry Awards. The annual prestigious NIES Energy Industry Awards is bestowed on individuals and organizations that cemented...
The Nigerian National Petroleum Company Limited (NNPC Ltd), says that energy security will rightly be achieved by the realisation of Nigeria’s Decade of Gas Initiatives inaugurated in 2021 by President Muhammadu Buhari. Malam Mele Kyari, Group Chief Executive Officer, NNPC Limited, said this on Wednesday in Abuja at the...
The oil market is heading for a significant shortfall of around two million barrels per day at the end of the year as a result of a production cut by major producers. The Organisation of the Petroleum Exporting Countries (OPEC) disclosed this on Thursday. In its monthly report for...
Like every new invention which comes with opportunities and challenges, the passage by the National Assembly and signing into law of the Petroleum Industry Bill into law about two years ago, by the President Muhammadu Buhari led Federal Government, after about 17years of protracted back and forth debates, was...
The Nigerian National Petroleum Company Limited (NNPC Ltd), says Nigeria’s domestic gas infrastructure network has capacity to transport 6.9 billion Standard Cubic Feet (BCF) of gas to support power generation and gas-based industries. Malam Mele Kyari, Group Chief Executive Officer (GCEO), NNPC Ltd., made this known on Thursday in...
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has unveiled six gazetted regulations to spur investment and economic growth in the midstream and downstream sectors of the petroleum industry. The News Agency of Nigeria (NAN) reports that the regulations which were unveiled on Wednesday in Abuja included the...
The Federal Executive Council (FEC) has approved N117 billion for the construction of Oloibiri oil museum in Bayelsa. The Minister of State for Petroleum resources, Mr Timipre Sylva, made this known when he briefed State House correspondents on the outcome of the council meeting, chaired by President Muhammadu Buhari...
President Muhammadu Buhari has approved the constitution of a 14-man Steering Committee on Petroleum Products Supply and Distribution management to find lasting solution to disruptions in the supply and distribution of petroleum products. The Steering Committee, which will be chaired by Buhari, has the Minister of State for Petroleum...
Many Nigerians with critical interest had hitherto believed that the advent of Nigeria’s Petroleum Industry Act (PIA) 2021, which was signed into law in the aforementioned years, and arguably the most audacious attempts to overhaul the petroleum sector in Nigeria, will solve the real and imagined challenges in the nation’s petroleum...
Former President Olusegun Obasanjo has said the oil and gas sector can no longer sustain the nation in the face of burgeoning population. Obasanjo said this when he hosted the leadership of the apex socio-cultural group of the Tiv from Benue State, Mzough U Tiv (MUT) at his Olusegun...
The Minister of State for Petroleum Resources, Timipre Silva, has charged security agencies to end crude oil theft before the President Muhammadu Buhari-led administration ends on May 29. Silva gave the charge while addressing troops under Operation Delta Safe during his operational visit to military formations in Port Harcourt...
By EZEKIEL OBI, Abuja – The Socio-Economic Rights and Accountability Project (SERAP) has asked Rivers State Governor, Nyesom and other governors to disclose the spending of the oil derivation refunds of N625bn recently paid to them by the Federal Government. SERAP’s Deputy Director, Kolawole Oluwadare, in a statement issued...
The Declaration of Cooperation (DoC) between Organisation of Petroleum Exporting Countries (OPEC) Member Countries and 10 non-OPEC oil-producing countries turned six on Saturday Dec. 10, 2022. On this date in 2016, OPEC Member Countries and Azerbaijan; the Kingdom of Bahrain; Brunei Darussalam; Equatorial Guin; Kazakhstan; Malaysia; Mexico; Sultanate of...
The National Security Adviser (NSA), retired Maj.-Gen. Babagana Monguno, on Tuesday, inaugurated 11 man Special Investigative Panel on Oil Theft/Losses in Nigeria. The panel, which is chaired by the Interim Administrator, Presidential Amnesty Programme, retired Maj.-Gen. Barry Ndiomu, has seasoned administrators and retired top military and police officers as...
Chevron Nigeria Ltd. (CNL) says 1.4 billion dollars financing has been secured to fund the Nigerian National Petroleum Corporation (NNPC)/CNL Joint Venture (JV) infill drilling project from 2022 to 2026. CNL’s, General Manager, Policy, Government and Public Affairs, Mr Esimaje Brikinn made the disclosure in a statement on Friday....
The Senate has endorsed the N48billion oil pipeline surveillance contract by the Federal Government to Mr Government Ekpemupolo, alias Tompolo, a former Niger Delta militant leader. Sen.Albert Akpan, the Chairman, Senate Committee on Petroleum (Upstream) said this on Tuesday in Abuja, when he spoke with newsmen shortly after presenting...