Category Archives: Uncategorized

EXPLORATION IN NORTHEAST AFTER RELEASE OF UNIMAID LECTURERS

  Barely two weeks after the release of some lecturers prospecting for oil at the Chad Basin, the Nigeria National Petroleum Corporation, NNPC, has concluded arrangement to recommence exploration activities at the basin, Group Managing Director of NNPC,  Maikanti Kacalla Baru, has said.   Oil exploration activities at the Chad Basin was suspended for months […]

Nigeria Bribery Scandal Reflects Cost Of Doing Business In Petrostates

This month, high-ranking officials of two major international oil companies (IOCs) will go on trial in Milan for bribing officials in Nigeria to secure lucrative contracts. The case marks the third major corruption scandal that has touched large oil companies in recent years.   In Brazil, Petrobras contractors overcharged the oil company for work and […]

Refineries production capacity to increase by 555,000 bpd

  The Nigerian National Petroleum Corporation (NNPC) has disclosed plans to increase the name plate capacity of its refineries to one million barrels of crude oil per day from its current 445,000 bpd.   Group Managing Director of NNPC, Mr. Maikanti Baru, stated this at Society of Petroleum Engineers (SPE) Oloibiri Lecture Series and Energy […]

Nigeria in final talks on refineries overhaul

  Nigeria’s state oil firm NNPC is in the final stages of talks with two consortiums that include top traders, energy majors and oil services companies to revamp its dilapidated refineries, sources familiar with the matter said. The move is aimed at helping Nigeria, Africa’s biggest crude oil producer, save billions of dollars on fuel […]

Despite Security Concerns, NNPC to Return to Lake Chad for Oil Exploration

  Notwithstanding the security concerns in the North-east, the Nigerian National Petroleum Corporation (NNPC) has said that it will return to the Lake Chad Basin in Borno State to continue the search for crude oil.   The Group Managing Director of NNPC, Dr. Maikanti Baru, disclosed this Wednesday, saying that with the release of the […]

Nigeria gas reserves up by 4.067tcf, says NNRC

Nigeria‘s natural gas re-serves have risen by 4.067 trillion cubic feet (tcf) from 187.998tcf in 2014 to 192.065tcf in 2015, the Nigerian Natural Resource Chapter (NNRC) has said.   In its “2017 Benchmarking Exercise Report” obtained by The Nation, the body said gas reserves in 2013 stood at 181.95 tcf, 182. 258tcf in 2012, 183.434tcf […]

Rivers community lauds NAOC for road project, drainages

  The joy of the people of Mgbede community in Ogba/Egbema/ Ndoni Council of Rivers State has known no bounds since the Nigerian Agip Oil Company Limited (NAOC) and its joint venture partners completed and commissioned a 1km asphalt road and drainage for the people. The road project was funded and constructed by NAOC, operators […]

NNPC in final talks with Vitol, GE, Eni others to overhaul refineries

  Nigeria’s state oil firm NNPC is in the final stages of talks with two consortiums that include top traders, energy majors and oil services companies to revamp its dilapidated refineries, Reuters reports.   The move is aimed at helping Nigeria save billions of dollars on fuel imports. Four banking and trading sources said the […]

NNPC, Kogi sign MoU to produce 84m litres of bio-fuel per annum

  The Nigerian National Petroleum Corporation (NNPC) and the Kogi State Government have executed a Memorandum of Understanding for the development of fuel-ethanol processing plant that would produce 84 million litres of bio-fuel per year.   Speaking during the signing of the MoU today in Abuja, the Group Managing Director of the NNPC, Dr. Maikanti […]

Petroleum Ministry urges stakeholders to provide accurate data

  Dr Folasade Yemi-Esan, the Permanent Secretary, Ministry of Petroleum Resources on Monday urged oil and gas stakeholders to collate accurate, up-to-date data for the industry, NTA News reports.   Esan said this at the opening of the OPEC Data Management Training Workshop in Abuja. According to her, the ministry is working with other stakeholders […]