Enter your keyword

Tags: Policy

Nigerian crude oil exports threaten market balance

Nigerian crude oil exports threaten market balance

Oil export operations in Nigeria are back in service following repairs, a division of Royal Dutch Shell said, adding to lingering supply-side concerns. A spokesperson for the Shell Petroleum Development Company of Nigeria Ltd said the company lifted force majeure, a contractual condition related to circumstances beyond the control of the parties involved, for exports… READ MORE

OPEC Production Spikes – Has The Cheating Begun?

OPEC Production Spikes – Has The Cheating Begun?

OPEC’s crude oil production increased by 270,000 bpd in May over April, to stand at 32.12 million bpd–the highest level since January this year–as exempt Libya and Nigeria saw their respective output sharply recovering, according to an S&P Global Platts survey. Despite the high compliance from the cartel’s biggest producer and de facto leader Saudi… READ MORE

NUPENG warns government over Port-Harcourt refinery

NUPENG warns government over Port-Harcourt refinery

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has expressed worry over the recent Memorandum of Understanding (MOU) entered into by the Federal Government and Oando Plc management. The government agreed to allow the oil firm manage Port Harcourt refinery, which is under repair, operate and maintain (ROM) it. Speaking with The Nation,… READ MORE

Nigeria oil governance bill aims to break up state oil company NNPC

Nigeria oil governance bill aims to break up state oil company NNPC

May 26 The long-awaited oil governance bill passed by Nigeria’s upper chamber of parliament proposes breaking up the state oil company into three commercial entities supported by a regulatory body and a fund to oversee the distribution of money. The Petroleum Industry Governance Bill, passed on Thursday by the Senate, is part of planned reforms… READ MORE

Nigeria loses Africa’s top oil producer position to Angola

Nigeria loses Africa’s top oil producer position to Angola

Sheds N83 billion in one month Nigeria’s crude oil production fell by 156,900 barrels per day (bpd) to 1.269 million bpd in March, from 1.426mbpd recorded in February. Consequently, the country lost its status as Africa’s top oil producer to Angola, according to latest data from the Organisation of Petroleum Exporting Countries (OPEC). With the… READ MORE

NPDC’s Daily Crude Oil Production To Rise To Half A Million BPD

NPDC’s Daily Crude Oil Production To Rise To Half A Million BPD

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

How kerosene, cooking gas scarcity’s crippling Nigerian households

How kerosene, cooking gas scarcity’s crippling Nigerian households

Except the Federal Government takes urgent steps to address the current energy crisis, Nigerians may be forced to revert to the stone age of using firewood and charcoal as means domestic energy for cooking. For over two weeks, acute shortages of Dual Purpose Kerosene (DPK) and Liquefied Petroleum Gas (LPG), popularly called cooking gas has… READ MORE