Top Stories

The Nigerian National Petroleum Corporation (NNPC) has once more expressed its commitment to moving the national oil company from its opaque past towards a more transparent global organisation. Speaking when he received the “Government Agency of the Year 2020 (Transparency)” from the New Telegraph Newspaper, the Group Managing Director of the NNPC, Mallam Mele Kyari, said the company had since ...

Savannah Energy has reduced its Nigerian capital expenditure (capex) by 15 per cent over the 2020-23 period from approximately $118 million to $100 million. The capital slash has resulted in a reduction in the overall indicative Group capital expenditure plans of around 13 per cent from $137 million to $119 million over the same period. In reviewing the capital spend, ...

……….by Musa Ibrahim….,.. Nigeria and Morroco are set to intensify the plan on the gas pipeline project in which Nigeria will pipe gas to Morroco for fertilizer plant in that country. President Muhammadu Buhari of Nigeria and the Moroccan leader, King Mohammed V1 on Sunday had a telephone conversation to discuss joint efforts towards the realisation of strategic development projects ...

OPEC and its partners estimate they implemented 99% of their agreed oil-supply curbs in January, according to a delegate who asked not to be named. The 23-nation alliance known as OPEC+ aimed to withhold 7.2 million barrels a day of crude from the market last month — about 7% of global supplies. They agreed to increase production by 500,000 barrels ...

The 13-member Organization of the Petroleum Exporting Countries is pumping 25.75 million barrels per day (bpd) in January, the survey found, up 160,000 bpd from December and a further increase from a three-decade low reached in June. OPEC+, which groups OPEC and other producers led by Russia, agreed to pump more from Jan. 1 and returns to output restraint again ...

With the challenge of pipeline vandalism lingering in the country, the Nigerian National Petroleum Corporation spent almost N50bn to repair and manage pipelines in 10 months. The NNPC’s latest monthly report showed that a total of 363 vandalised points were recorded from January to October 2020. The corporation spent N5.48bn on pipeline repairs and management cost in January; N6.74bn in ...

The power sector has continued its sub-optimal performance in January, losing about N26.4 billion in revenues in the first month of the year, mainly due to gas supply issues as well as transmission and distribution challenges in the electricity value chain. There are indications that the figures for the previous month, showed a negligible improvement, with December losses hitting N26.7 ...

The Environmental Rights Action/Friends of the Earth Nigeria welcomes the recent judgement by the Netherlands court of appeal that held Shell liable for the oil spills it caused across Nigeria’s coastal communities of the Niger Delta in 2008. Recall that in 2008, four Nigerian farmers from Ikot Ada Udo, Oruma and Goi in the Niger Delta supported by the Environmental ...

The Department of Petroleum Resources has approved the use of intrusion detection pipeline technology in the domestic oil and gas sector. The new technology,, would help identify and manage external corrosion, leaks and other interferences, following its technical evaluation and fitness checking by approval officers. It was further gathered that the approval of the new technology has the potential to ...

The proposed intergrated methanol and gas project is to create 30, 000 direct and indirect jobs in Nigeria, the Minister of State for Petroleum Resources, Chief Timipre Sylva, has said Sylva disclosed this at the signing ceremony of the Final Investment Decision( FID) on Gas processing and methanol plant project, by Brass Fertilizer and Petrol Chemical Company ( BFPCL), in ...