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Nigeria Exact Volume of Crude Production is Known -DPR

The Department of Petroleum Resources (DPR) has said that it knows the exact volume of Crude oil produced in Nigeria. “Our attention has been drawn to a report credited to the Executive Secretary of the Nigerian Extractive Industry Transparency Initiative (NEITI) that the exact volume of Nigeria’s crude production is not known” DPR said. “We wish to state that this ...

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No one knows for certain how much crude oil Nigeria produces – NEITI

THE Executive Secretary of the Nigeria Extractive Industries Transparency Initiative, NEITI, Dr. Orji Ogbonnaya Orji has stated that no Nigerian knows the exact volume of crude oil produced in Nigeria especially at deep offshore fields. Dr. Orji explained that the absence of meters at wellheads and the lack of capacity to monitor deep offshore means Nigeria do not have the ...

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Shell and Eni May Face Another Trials Over OPL 245 in Nigeria

………… by Jenifer Dike………..There are strong indications that Shell and Eni may face another trial in Nigeria even after the Milian court in Italy had settled the case against them over OPL 245. Human and Evironmental activists are pushing that another court trials in Nigeria be open against the two multinational oil companies. The activits have written that President Muhammadu ...

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NNPC to Resume Oil Exploration in Sokoto Basin

The Nigerian National Petroleum Corporation announced plans to resume active oil exploration in Sokoto Basin. A statement issued in Abuja on Thursday by NNPC spokesperson, Kennie Obateru, said the corporation’s Group Managing Director, Mele Kyari, said exploration for crude would resume in the Sokoto Basin. The statement read in part, “Kyari also hinted of plans for the corporation to resume ...

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NNPC Streamlines Measures to Achieve $10 Per Barrel Production Cost Target

The Nigerian National Petroleum Corporation (NNPC) has taken a step further to achieve the $10 per barrel oil production cost benchmark with the development of the five-levelled Upstream Cost Efficiency Transformation Framework. The model developed by the National Petroleum Investment Management Services (NAPIMS), the upstream investment arm of the NNPC, detailed a-step-by-step method of driving down the unit operating cost ...

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16m Barrels Missing Crude: Aiteo Alleges Attack on Corporate Identity

Allegation malicious –SPDC The last may not have been heard of the disagreement between indigenous oil firm, Aiteo Exploration and Production Company and Shell Production Development Company (SPDC) following allegations of a fresh attack on its corporate identity and that of its Executive Vice Chairman, Mr. Benedict Peters. Aiteo is claiming the loss of over 16 million barrels of crude ...

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Signature Bonus: DPR May Weed Out Firms with Weak Financial Muscles After 45 Days Notice

………by Abisoye Shola…….. There are strong indications that out of the 161 shortlisted companies for the 57 marginal fields only companies with, aside from the technical capacities among others but with strong financial muscles to pay their signature bonus in dollars equivalent within the 45 days notice will likely win the final bid rounds. Though the Department of Petroleum Resources ...

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Conoil Flowstation Shut Down by Aggrieved Host Community in Bayalsa

Agreived host community has shut down Conoil Flowstation in Bayelsa State. The 30,000 barrel per day Conoil Production Flowstation at Ango field in Koluama, Southern Ijaw Local Government Area of Bayelsa, was shut down on Tuesday. The incident is not unconnected with the complains by the host community that the oil firm refuse to open channel of communication to discuss ...

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Optimum Petroleum Seeks to Terminate Agreement with LEKOIL

………by James Ikenna……… Optimum Petroleum Development Company Limited is Seeking to Terminate Agreement with LEKOIL over OPL310. The disagreement between the two companies is over revenue sharing. LEKOIL, the oil and gas exploration and production company with a focus on Nigeria and West Africa has announced that Mayfair Assets and Trusts Limited, in which it has a 90 percent economic ...

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DPR Denies Report of Shell Underreported 2 Million Barrels for 3 Years

The Department of Petroleum Resources (DPR) has denied media reports that it uncovered a ‘missing 2 million barrels of crude’ in oil production records by Shell Petroleum Development Company (SPDC) between 2016 and 2018. The DPR described the allegations as false and baseless. The report had alleged that SPDC which was allegedly found culpable had admitted the infraction and offered ...

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