Daily Archives: January 10, 2018

Nigeria’s Oil Production Hits 2.25mbd As 254 Firms Submit Bids for 2018/2019 Term Contracts

Abuja — Nigeria’s daily crude oil production with condensates has increased to 2.25 million barrels per day (mbd), but with crude oil production alone standing at 1.8mbd, while condensates are 450,000 barrels per day (bd), the Nigerian National Petroleum Corporation (NNPC) has disclosed. The NNPC also disclosed on Tuesday in Abuja that it had received […]

Several Nigerian independents failed to pay petroleum profit tax in 2015 – NEITI

According to the latest audit report of the Nigerian Extractive Industry Transparency Initiative (NEITI), sixteen Nigerian owned companies, all of them hydrocarbon producers, defaulted on payments of Petroleum Profit Tax (PPT) to the country’s coffers in the year 2015, Africa Oil + Gas Report states. Those that were reported to have defaulted on PPT payment […]

NNPC restores Escravos-Lagos pipeline as gas supply resumes at power plants

The Escravos-Lagos Pipeline (ELP) which came down last week as a result of a fire incident has been restored and gas supply to customers on the line including power generating companies resumed. The Nigerian National Petroleum Corporation (NNPC) which disclosed this Monday said the repair work on the pipeline followed the directive by the Group […]