Nigeria’s crude oil production has increased by 70,000 barrels per day in May according to a Reuters Survey released on Tuesday. The document, which was obtained by the News Agency of Nigeria (NAN) in Lagos, showed that the country’s crude oil production averaged 1.42mbpd in May. The figure is...
oil and gas
The Nigerian National Petroleum Company Limited (NNPC Ltd.) started its activities for the new week with a call on stakeholders to intensify efforts to address abject energy poverty in Africa. The GMD/CEO of NNPC, Malam Mele Kyari, made the call at the 2022 Africa Infrastructure Solutions Summit which recently...
The Nigerian Upstream Petroleum Regulations Commission (NUPRC) says its harmonised regulations will be operational by June 2022. It said it would enable the Petroleum Prospecting Licenses (PPL) to be issued to 2020 marginal field awardees. The NUPRC said the harmonised regulations would soon be forwarded to the Federal Ministry...
The Nigerian National Petroleum Company Limited (NNPC Ltd.) started its activities for the week with the good news that Vanguard Newspapers nominated the company’s Group Managing Director (GMD) Malam Mele Kyari, for its 2021 Man of the Year Award. The Chairman Editorial Board of Vanguard Newspapers, Ochereome Nnanna, disclosed...
The Nigerian National Petroleum Company Limited (NNPC Ltd.) started its activities for the week with a move by stakeholders to begin the implementation of the Petroleum Industry Act (PIA) in the upstream sector of the nation’s oil and gas industry. Minister of State for Petroleum Resources, Chief Timipre Sylva...
By JOY ADARA, Abuja – For Nigeria to continue to be relevant as a major player in the global oil and gas industry, it must come up with innovative ways of exploiting and exploring its abundant oil and gas. The minister of Petroleum Resources, Timipre Sylva stated this on...
The National Oil Spills Detection and Response Agency (NOSDRA) has confirmed an oil leak from a 12-inch Benisede-Brass Creek Delivery Line at Peretuorugbene in Bayelsa. The Director-General of of the agency, Mr Idris Musa, confirmed the incident on Sunday in an interview with the News Agency of Nigeria (NAN)...
The Nigerian National Petroleum Company Ltd. (NNPC) says the ongoing Ajaokuta-Kaduna-Kano (AKK) gas pipeline project will be completed by the first quarter of 2023. Malam Mele Kyari, Group Managing Director, NNPC said this on Thursday while inspecting the AKK gas project site at Abaji, Abuja along with some NNPC...
The Organisation of the Petroleum Exporting Countries (OPEC) says Nigeria’s crude oil production declined to an average of 1.354 million barrels per day in March 2022. OPEC made this known in its Oil Market Report for April 2022 which was obtained by the News Agency of Nigeria ( NAN)...
BY JOY ADARA, Abuja – The group Managing Director, Nigerian National Petroleum Company Ltd. (NNPC) Malam Mele Kyari, has said the NNPC has nothing to hide and will comply with the request of the House of Representatives Committee on Public Accounts. The disclosure by the NNPC CEO came in...
The Federal Government says while oil prices are on the rise, Nigeria is not reaping the full benefits of the current windfall because of years of neglect of the oil industry. The Minister of Information and Culture, Alhaji Lai Mohammed, gave the explanation at a media briefing on Monday...
The Federal Government has urged the European Union (EU), to step up investments in gas and hydrocarbon in Nigeria to be able to meet the bloc’s energy needs. The call is coming on the heels of the festering war between Ukraine and Russia, which threatens gas supply to European...
By BENJAMIN ORISEMEKE, Abuja – Health of Mother Earth Foundation, (HOMEF) has raised concern over another oil spill by Agip PLC at Lasukugbene, a community in Southern Ijaw area of Bayelsa State following the burst of pipelines. The foundation in a statement signed by the Media/ Communication Lead, Kome...
The Federal Government says it is determined to stop the economic devastation occasioned by the activities of illegal refiners, pipeline vandalism and crude oil theft in the country. The Minister of State Petroleum Resources, Chief Timipre Sylva, said this on Wednesday at Bonny Island, Rivers, while addressing officers of...
By JOY ADARA, Abuja – The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has set up a team of experts to carry out thorough auditing of the activities of operators in the upstream petroleum industry in the last two years, to ascertain the actual volume of crude oil stolen by...
By BENJAMIN ORISEMEKE, Abuja – Nigeria’s trade balance grew to N1.9 trillion, the worst since NBS started tracking trade performance 12 years ago. In its Foreign trade in goods statistics report for February 2022, the National Bureau of Statistics (NBS) stated that imports stood at N20.8 trillion as at...
By BENJAMIN ORISEMEKE, Abuja – Minister of State Petroleum Resources Chief Timipre Sylva said Nigeria will remain at the vanguard of the crusade for a multifaceted energy transition timetable that will attract more investments for Africa while taking cognizance of the current global energy transition in the direction of...
An Oil and Gas Expert, Mr Charlse Majomi, has called for a concerted drive and clearer fiscal terms to incentivise investments for increased upstream production of crude oil. Majomi, in an interview with the News Agency of Nigeria (NAN), in Abuja on Sunday said the Petroleum Industry Act (PIA)...
Mrs Patience Key, the immediate past Chairman of Nigerians in Diaspora Organisation Americas (NIDOA), USA, says the Russo-Ukraine conflict will affect Nigeria, being an oil producing country. Key told the News Agency of Nigeria (NAN) in New York on Sunday that the crisis would affect Africa’s economy and also...
By BENJAMIN ORISEMEKE, Abuja – OPEC said on Tuesday that oil demand in 2022 faced challenges from Russia’s invasion of Ukraine and rising inflation as crude prices soar, increasing the likelihood of reductions to its forecast for robust demand this year. Oil prices shot above $139 a barrel this...