Nigeria’s oil production and 2017 budget implementation could be hampered by the lull in global oil market, as crude price dropped to around $40 per barrel. Global benchmark crude, Brent, has remained below $47 per barrel this week, while OPEC daily basket price stood at $43.14 a barrel on Wednesday. Nigerian crude grades are under… READ MORE
REN-operated Sines LNG import terminal in Portugal is to receive a new cargo of the chilled fuel from Nigeria, LNG World News reports. The cargo will be delivered from Nigeria LNG’s Bonny Island liquefaction plant onboard the LNG Borno liquefied natural gas carrier. Shipping data from the port of Sines shows that the LNG carrier… READ MORE
Benjamin Rotimi, the Vice-Chairman, South-West Chapter of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), on Wednesday commended the Federal Government on the proposed second refinery in the Northern part of the country, Premium Times reports. On April 22, Ibe Kachikwu, Minister of State for Petroleum Resources, told journalists in Bauchi State that… READ MORE
Nigeria LNG Limited (NLNG), has revealed that it plans to boost production of Liquefied Petroleum Gas (LPG) from 250,000 tonnes to 350,000 to meet the current market demand. The Chief Executive Officer of NLNG, Tony Attah, who made this revelation in Lagos during the launch of the company’s 2017 Facts and Figures publication, said the… READ MORE
During my childhood, Aba-made or made-in-Aba was a popular cliché amongst Nigerians. The phrase referred to any locally made product believed to be cheap and inferior in quality. As a matter of fact, when you got to the market, it was common to hear someone ask: “I hope say no be Aba-made?” But I was… READ MORE
Before the enactment of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act of 2010, which became law on April 22, 2010, and giving birth to the Nigerian Content Development and Monitoring Board (NCDMB), the Nigerian oil and gas industry was dominated by International Oil Companies (IOCs), including briefcase businessmen, who relegated indigenous operators… READ MORE
ABUJA—Nigeria recorded slight improvement in crude oil revenue in 2016, as total export appreciated by 0.75 per cent to N6.997 trillion at the end of 2016, according to data obtained from the National Bureau of Statistics, NBS. This amount is 96.09 per cent of Nigeria’s proposed 2017 budget estimate of N7.281 trillion, while it represented… READ MORE
It comes just weeks after the West African country’s vice president said that more needs to be done to incorporate the bootleggers into legal refining trade. The government has been holding talks with militants to end attacks on official oil production facilities. Attacks cut the OPEC member’s output by 700,000 barrels a day for several… READ MORE
The Nigerian National Petroleum Corporation, NNPC has expressed its commitment to grow the Nigerian Petroleum Development Company’s, NPDC, crude oil production to 500,000 barrels per day by 2020. The Corporation said it would also grow NPDC’s gas production to 1500mmscf per day within the same period. The Group Managing Director of NNPC, Dr Maikanti Baru,… READ MORE
The Nigeria Liquefied Natural Gas Limited, NLNG, on Wednesday opposed the proposed amendment of its founding law, saying it could pose a barrier to efforts towards future investments in gas development in Nigeria. The Managing Director of NLNG, Tony Attah, made the position of the company known in Abuja at the ongoing 2017 Nigeria… READ MORE
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