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The Oil and Gas Alternative Dispute Resolution Centre (ADRC) has resolved its first case in line with the objective of the Federal Government for speedy resolution of disputes in the industry. Mr Paul Osu, Head, Public Affairs, Department of Petroleum Resources (DPR), made the announcement in a statement issued in Lagos. Osu said four other cases were currently at hearing ...

Producers from countries including Nigeria, Brazil and the U.S. loaded almost 1 million barrels a day more crude for European buyers last month than they did in March, according to tanker tracking data compiled by Bloomberg. That included a late-April jump in cargoes from terminals in the U.S. Gulf of Mexico. North Sea oil prices have fetched hefty premiums this ...

Some marginal fields’ operators have kicked against the revocation of 11 oil field licences by the Department of Petroleum Resources (DPR) under the guise that the affected fields had been left fallow, stressing that the action of the regulator has jeopardised investments valued in excess of $450 million and exposed them to local litigations and international arbitrations. They appealed to ...

The Federal Government is looking forward to exciting gas development prospect in Oil Mining Lease (OML) 143. The government said that the execution of the OML 143 Gas Development Agreement (GDA) by the Nigerian National Petroleum Corporation (NNPC) and its partner, Sterling Oil Exploration and Production Company (SEEPCO) would bring value to the nation’s economy. The project would also boost ...

The Department of Petroleum Resources (DPR) has inaugurated a team of experts to evaluate the revoked assets of Addax Petroleum Exploration Nigeria Limited in preparation for formal handover to the new operators- Kaztech/Slavic Consortium. A statement issued on Thursday in Lagos by Mr Paul Osu, Head, Public Affairs, DPR, said the committee was inaugurated on Wednesday in Abuja by the ...

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 ...

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 ...

………… 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 ...

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 ...

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 ...