NNPC earns N1.554 trillion from oil exports btw Jan 2017 and Jan 2018

  Nigeria’s oil and gas sector recorded total revenue of $4.29billion (N1.554trillion) from exports between January 2017 and January 2018.On a monthly basis, total export sale of $439.60million was recorded in January 2018, representing 1.79 per cent lower than the previous month. The Nigerian National Petroleum Corporation (NNPC), which made this known in its January […]

Kachikwu Seeks Speedy Approval of Oilfield Development Plans

  The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has urged oil and gas industry operators to collaborate with the industry regulators to ensure speedy approvals of Field Development Plans (FDPs) to attract investments to the oil and gas sector.   In his keynote address at a ‘Technical symposium on Field Development Plan […]

Nigeria’s state oil company still can’t make money

  It’s meant to be a cash cow, but the state oil company of Africa’s biggest producer is bleeding money.   Nigerian National Petroleum Corp (NNPC), the Abuja-based behemoth that dominates the Opec member’s energy industry, has made losses for at least the last three years, statements on its website show. It will probably register […]

Funds meant for TAM of Nigeria’s refineries allegedly diverted by top oil industry officials

  Oil industry sources have made startling disclosures of how top industry officials ruined Nigeria’s four refineries by diverting huge funds earmarked for their routine comprehensive turnaround maintenance (TAM), THISDAY reports.   The four refineries located in Port Harcourt (two), Warri and Kaduna have a combined installed capacity to refine 445,000 barrels of crude per […]

Bonga oilfield has produced 763mn barrels of oil since 2005 – Shell

  Shell Nigeria Exploration and Production Company (SNEPCo) yesterday disclosed that it has delivered a total of 763 million barrels of oil from the Bonga field between first production in 2005 and 2017, Leadership reports.   In addition, the company said it is expanding the field with further drilling of wells in Bonga Phases 2 […]

Nigeria’s 2.069mbpd oil production still below budget estimates

  Nigeria’s crude oil production including condensate reached 2.069 million barrels per day (mbpd) in April 2018, according to data from the Federal Ministry of Petroleum Resources.   Though there is a slight increase from the 2.022mbpd the country recorded in March, this means Nigeria is still struggling to step up production to meet the […]

Nigeria Recorded 194 Pipeline Vandalism Cases, Says NNPC

The Nigerian National Petroleum Corporation (NNPC) says the nation recorded 194 cases of pipeline vandalism between January 2017 and the corresponding period of this year.During the release of its January financial and operational report yesterday in Abuja, the agency noted that gas supply to the power sector during the period under the review jerked up […]