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Sunday, September 25, 2022

Nigeria’s Crude Oil Production Slumps To 900,000b/d

The Organization of the Petroleum Exporting Countries' recently issued Monthly Oil Market Report for September indicated that Nigeria's crude oil output dropped to 900,000...

Nigeria Settles Oil Pipelines Repairs With N12.43bn

According to information obtained on Sunday, the Federal Government has so far paid $4.04 billion to five foreign oil corporations as reimbursement for cash...

Nigeria, Morocco Sign MoU, Commence 5,600km Gas Pipeline Project

Nigerian National Petroleum Company Limited (NNPC) and the Office National des Hydrocarbures et des Mines of Morocco signed a Memorandum of Understanding to begin...

PH Refinery Will Commence Operation By December – FG

The Old Port Harcourt Refinery would be operational by December 2022, according to Wednesday's assurance from Chief Timipre Sylva, minister of state for petroleum...

Nigeria Generates Over N1.6tn From Crude Oil Exportation

According to OPEC figures, Nigeria earned N1.6 trillion in July from the sale of crude oil. According to its August report, the nation exported...

Oil Exports Make Up 80% Of Nigeria’s Total National Revenue

Despite the significant oil theft that has recently been reported, crude oil still made up 80% of Nigeria's exports in the second quarter of...

Fuel Scarcity Looms In Rivers, Here’s Why

Fuel scarcity looms in Rivers, as long queues resurfaced across the state on Wednesday, September 14, 2022. It was gathered that the state residents couldn't...

NNPC Signs 7,000km Gas Pipeline Contract With West African Countries

A Memorandum of Understanding (MoU) on a gas pipeline project will be signed by the Nigerian National Petroleum Company Limited (NNPCL), the National Office...

Lawmakers Probe Oil Theft As Nigeria Loses N700m Monthly

The Senate Adhoc Committee on Oil Theft has disclosed that said it had begun investigations into oil theft and illegal bunkering activities in the...

Production Fell Short By 3.4m bpd In August- OPEC

Only 30,000 BPD more was produced by quota-bound oil producers in August, falling 3.4 million BPD short of their total objective. The Organisation of Petroleum...

NNPC Deploys Digital System To Curb Theft, Vandalism

The Nigerian National Petroleum Company Limited has stated that it has put together a number of computerized control systems to reduce the theft of...

FG Loses Oil Barrels Worth N603.64bn In 2022

An review of the monthly reports of Nigeria's crude oil and condensate output indicated that between January and August of this year, the government...

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