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NPDC to raise Nigeria’s oil production by 320,000bpd

NPDC to raise Nigeria’s oil production by 320,000bpd

Nigeria’s crude oil production is expected to increase by 320,000 barrels per day (bpd) by 2020 from different Oil Mining Lease (OML) in the Niger Delta region This increase, which would be coming from Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), is expected to take the company’s equity… READ MORE

Senate may probe NNPC’s planned Ajaokuta-Kaduna-Kano gas pipeline contract

Senate may probe NNPC’s planned Ajaokuta-Kaduna-Kano gas pipeline contract

The Senate, yesterday, said it would carry out a holistic investigation into the proposed award of the Engineering, Procurement and Construction (EPC) contracts of Ajaokuta- Kaduna-Kano(AKK) Gas Pipeline, totalling $2.317 billion (N834.12 billion), to the highest bidders once it discovered that due process was breached,  Vanguard reports. The Senate disclosed however that its attention had not been… READ MORE

After Boko Haram attack, Nigerian govt turns to Sokoto Basin for oil search

After Boko Haram attack, Nigerian govt turns to Sokoto Basin for oil search

Few months after the terrorist group in the north eastern part of the country, Boko Haram, ambushed and killed some lecturers from the University of Maiduguri who were part of a Nigerian National Petroleum Corporation, NNPC, oil exploration team in the Lake Chad basin, the corporation said it has commissioned another team to handle a… READ MORE

Despite Cap Agreement Exemption, Nigeria Still Under OPEC Pressure

Despite Cap Agreement Exemption, Nigeria Still Under OPEC Pressure

After voluntarily agreeing to participate in the decision of OPEC and its non-members to cap oil production levels to stabilise price, Nigeria reaffirms commitment to the agreement in the face of fresh pressure. Chineme Okafor writes After a December 2016 meeting in which Nigeria participated actively, the Organisation of Petroleum Exporting Countries and 11 non-OPEC… READ MORE