United Kingdom (U.K.), China, and Togo, increased their import of crude oil from Nigeria in the month of May 2017, according to import destination report of the Nigerian National Petroleum Corporation (NNPC). Giving a breakdown of oil export to the three countries, NNPC’s data showed that U.K., which did not buy Nigeria’s crude in March,… READ MORE
Abuja — The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has said it would not be possible for the price of crude oil to rise to $100 per barrel in 2018 as the current market conditions did not support such expectations. Speaking to some reporters recently in Abuja, Kachikwu, predicted that at most,… READ MORE
The Federal Government says it will meet with the Nigeria Union of Petroleum and Natural Gas Work, (NUPENG) on Tuesday toward apprehending the ongoing industrial action embarked by the union. The Minister of Labour and Employment, Sen. Chris Ngige, said this in a statement signed by Mr Samuel Olowookere, Deputy Director, Press, in the ministry… READ MORE
Total Exploration and Production Nigeria Limited has denied links in the management or having a role to play in the 750 gas trucks released to distribute products. The company through its image handlers, indicated that Total is not part of the gas trucks business and rather its business agreement is for the supply of gas… READ MORE
The Nigerian National Petroleum Corporation (NNPC), remitted $284.724 million to the Federation Account between January and June 2017 from its crude oil and gas export proceeds, Vanguard reports. According to its Monthly Financial and Operations Report for June 2017, the NNPC recorded total crude oil and gas export receipt of $1.353 billion from January to June 2017;… READ MORE
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has said that an average of 700,000bpd of crude oil was deferred in 2016 due to pipeline sabotage, saying this brought Nigeria’s production down to as low as 1.3 million barrels per day from 2.2 million barrels targeted for the period…. READ MORE
The price of crude oil has stabilised at $54.25 as the Organisation of Petroleum Exporting Countries, OPEC, predicted increased stability of the market, yesterday. The price, which was also over $54 per barrel the previous day was said to have stabilised at that level because of the near balance of demand and supply in the… READ MORE
Oil and gas companies operating in the country flared a total of 108.91 billion standard cubic feet of natural gas in the first five months of the year, causing the country an estimated loss of N95.8bn. The latest data obtained from the Nigerian National Petroleum Corporation on Friday showed that 24.77 billion scf of gas… 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 liquefied natural gas carrier LNG Benue capable of transporting 145,914 cubic meters of the chilled fuel. Shipping data from the port… READ MORE
The Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru, has appealed to oil pipeline hackers to desist from such nefarious act which, according to him, is not only harmful to the environment, but equally hazardous to the pipeline vandals and the economy. Speaking while receiving a delegation of the Nigerian Environmental… READ MORE
