Author Archives: steph

Works have begun on freshly damaged pipeline, gas supply to resume today – NNPC

  The Nigerian National Petroleum Corporation (NNPC) Group Managing Director, Dr. Maikanti Baru, has directed that repair works should be executed immediately on the Escarvos to Lagos Pipeline (ELP) ruptured by an explosion today along Egbokodo-Omadino, in Warri South Local Government Area of Delta State to restore supplies from Escravos.   Dr. Baru further directed […]

Illegal refineries’ thrive in N’ Delta amid FG’s delay on modular refineries

  Illegal refining of crude oil in the Niger Delta region may continue longer than anticipated due to the failure of the Federal Government to unveil solutions it earlier promised to stop the menace, The Guardian reports.   The Government had said it would build modular refineries in the region in order to engage jobless […]

Obaseki signs 5,500bpd Edo modular refinery deal with Sinopec, others

  The Governor of Edo State, Mr. Godwin Obaseki, on Wednesday in China, signed a Memorandum of Understanding (MoU) with a Chinese consortium for a 5,500 barrel per day modular refinery in Edo State, Vanguard reports.   The Chinese consortium that will handle the modular refinery is made up of Peiyang Chemical Equipment Company of […]

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 […]

Crude oil prices hit $64 per barrel, highest since Buhari took over power

Global oil benchmark, Brent crude, hit a 28-month high since President Muhammadu Buhari came to power in mid 2015. Brent, on which Nigeria’s crude oil is priced, rose by $2 to $64.07 per barrel as of 8:03pm Nigerian time on Monday, more than $19 higher than the country’s oil price benchmark of $44.5 per barrel […]

PDP raises query over missing 4,501 petroleum trucks

The Peoples Democratic Party (PDP) has called on security agencies to immediately probe the voluntary disclosure by the Managing Director of Nigeria National Petroleum Cooperation (NNPC), Dr. Mikanti Baru that 4,501 trucks of petroleum recently went missing.   The PDP, in a statement signed by its Deputy National Publicity Secretary, Prince Diran Odeyemi, said that […]

Kachikwu, DAPPMA Blow Hot and Cold in Petrol Politics

  You would probably be forgiven for thinking Dr. Ibe Kachikwu, Nigeria’s Minister of State for Petroleum Resources, is confused. He may not be, but his words and actions certainly suggest he is. In one breath last week while trying to defend government actions on the issue of fuel pricing and availability, he stated that […]