Daily Archives: January 17, 2018

NNPC, NIMASA Partner On Crude Oil Export

  The Nigerian National Petroleum Corporation (NNPC) in conjunction with the Nigerian Maritime Administration and Safety Agency (NIMASA), yesterday convened a meeting of stakeholders in the maritime industry with a view to generating ideas on how best attract maximum benefits from export of the country’s crude oil.   A statement issued by NNPC’s spokesperson, Ndu […]

NNPC Justifies Preference for FOB Nigeria’s Crude Exports

  The Nigerian National Petroleum Corporation (NNPC) has given reasons why it prefers to use the Free-on-Board (FOB) system to export Nigeria’s crude oil to their respective destinations and not the Cost, Insurance and Freight (CIF) system.   The NNPC, according to a statement it sent out yesterday in Abuja, explained that despite the value […]

FG, NNPC seek better options for Nigeria’s crude oil export

  The Federal Government, yesterday, said it has commenced engagement with stakeholders in the maritime industry to explore the most viable and cost-effective options in the export of Nigeria’s crude oil. Speaking at a maritime forum in Abuja, Minister of State for Petroleum Resources, Mr. Ibe Kachikwu, said attempts in the past to transit from […]

Govt, Operators to Brainstorm On Oil Market Challenges

Abuja — The federal government and operators in Nigeria’s oil and gas industry would be expected to leverage the upcoming Nigerian International Petroleum Summit (NIPS) to find solutions to current and future challenges of the industry, organisers of the maiden edition of conference have disclosed.   In a statement to explain the level of work […]

Change in Nigerian shipping policy could spur lifting of crude by indigenous shipowners

  Following a stakeholders’ engagement on the issue, Nigerian shipowners in the maritime sector are on the verge of getting the desired change in trade terms from Free On Board (FOB) to Cost Insurance and Freight (CIF) which would enable them to begin to lift Nigerian crude and ultimately boost indigenous capacity, Tribune Online reports. […]

NPDC increases oil production from July to Sept 2017

  Oil production by the Nigerian Petroleum Development Company (NPDC), the flagship upstream subsidiary of the Nigerian National Petroleum Corporation (NNPC), has grown following the successful drilling and completion of wells in Oil Mining Lease (OML) assets operated by the company, Daily Trust reports.   Data obtained from the corporation showed that the recent drilling […]