OIL

Following the recent report (two weeks ago) by Financial Energy Review, that the federal government will soon announce the discovery of oil and gas from the frontline exploration projects going on in the Northern part of the country which is one of the seven sedimentary deposits in Nigeria the Nigerian National Petroleum Corporation (NNPC) has finally announced the discovery of ...

The Nigerian National Petroleum Corporation (NNPC) in a move to ensure transparent in the corporation supply of petroleum products is set to be publishing details of its  supply businesses. In a statement by the NNPC Acting Group General Manager, Group Public Affairs Division, Mr. Samson Makoji, said the corporation’s Group Managing Director, Mallam Mele Kyari, disclosed this Tuesday while receiving ...

Rivers State Government has fully acquired Shell Petroleum Development Company of Nigeria (SPDC) 45 percent interest in Oil Mining Lease (OML) 11 situated in Ejama Ebubu community in Eleme Local Government Area and the adjoining Ogoni and other communities of the State. Rivers State governor Nyesom Wike stated this in a broadcast to the State today. “I am delighted to ...

The Nigerian National Petroleum Corporation, (NNPC), and the Independent Petroleum Marketers Association, (IPMAN) have taken the decision not to allocate petroleum products to depot owners who fail to settle debts owed Petroleum Equalization Fund (PEF). Bashir Danmalam, the IPMAN Chairman, Northwest zone made this known in a statement on over the weekend. According to him, the NNPC issued a directive ...

…………Buhari Retained Petroleum Ministry to midwife first oil production…… Reasons have been adduced why President Mohammadu Buhari, still retains the position of the nation’s Minister of Petroleum Resources in his second term in office. Part of the reasons being that the President is not only so passionate over the developments and successes in the oil and gas industry, he is ...

… As Corporation, Nigeria Agip Exploration Firm Up ABO OMLs Head of Terms Agreement To expeditiously grow the Federal Government’s revenue and in turn boost the nation’s reserve base, the Nigerian National Petroleum Corporation (NNPC), Nigeria Agip Oil Company (NAOC) and Oando, have executed a novation agreement for Oil Mining Leases (OMLs) 60,61, 62 and 63. The Group Managing Director ...

The expectations by the Nigerian National Petroleum Corporation (NNPC) to increase the nation’s crude oil reserves and daily oil production to 3million barrels per day has received a major boost with the signing of a $3.15bn Financing and Technical Services Agreement between Sterling Oil Exploration and Energy Production Company Limited (SEEPCO) and the exploration and production arm of NNPC, the ...

The Department of Petroleum Resources (DPR) says it will soon commence full digitalisation of over 2,616 oil producing wells for transparency and accountability. Mr Victor Georgeson, Deputy Manager, Production and Surveillance in the company, said this on the sideline of the agency’s sensitisation workshop organised on National Production Monitoring System (NPSM) for oil and gas operator’s compliance officers in Lagos on ...

…As India Offers Credit Line to Revamp Obsolete Infrastructure The Nigerian National Petroleum Corporation (NNPC) has expressed its readiness to continue to supply 10 per cent of India’s crude oil demand in the face of competing demand for the product from other countries. This commitment was made today by the Group Managing Director of the NNPC, Mallam Mele Kyari, during ...

The Management of the Nigerian National Petroleum Corporation (NNPC) and its age-long partner, Shell Petroleum Development Company (SPDC), on Tuesday expressed resolve to grow existing business relationship aimed at increasing the nation’s crude oil reserves.    Welcoming the high level Shell delegation led by the Vice-President of Shell Nigeria and Gabon, Mr. Peter Costello, to the NNPC Towers, Abuja, Group ...