NNPC requests tender for 2018

Nigerian state oil company NNPC on Friday published the invitation to tender for its 2018 crude oil contracts. Bids must be submitted by noon on Jan. 9, 2018. * Qua Iboe was offered at dated Brent plus $1.30, steady from an offer level reported on Nov. 2. Several cargoes are available. * Mercuria sold a […]

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Gas flare rate drop to 12% in Nigeria

The Gas flare rate in Nigeria stands at 12.00 per cent, the Nigerian National Petroleum Corporation (NNPC) Monthly Financial and Operations Report for August has revealed. The monthly report which was released today in Abuja said that the 12.00 per cent gas flare rate which translates to 919.73mmscfd was at August 2017 compared to 10.03 […]

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NNPC to begins oil exploration in Nasarawa

Oil search in the nation’s inland basins received a fresh impetus following the commencement of exploration activities in the Benue Trough by the Nigerian National Petroleum Corporation (NNPC). Group Managing Director of the Corporation, Dr. Maikanti Baru, announced this development during a visit to the Governor of Nasarawa State, Alh. Umaru Tanko Almakura in Lafia […]

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OANDO’s response to SEC’s findings

* ‍OANDO PLC‘S POSITION ON SECURITIES AND EXCHANGE COMMISSION‘S ALLEGED FINDINGS​ * ‍SEC COMMISSION FINDS THAT GCEO RESPONSIBLE FOR FIXING REMUNERATION OF OTHER EXECUTIVE DIRECTORS IS IN VIOLATION OF PART B, 14.3 OF SEC CODE * “OANDO IS OF THE VIEW THAT THE SEC’S DIRECTIVES ARE ILLEGAL, INVALID AND CALCULATED TO PREJUDICE THE BUSINESS OF […]

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Oando’s share price frozen pending regulatory audit

Shares in Nigerian oil firm Oando Plc have been frozen at 5.99 naira until further notice, the stock exchange said on Monday after the regulator ordered a forensic audit into the company. The Securities and Exchange Commission (SEC) had suspended trading in the stock for 48 hours last week, saying it was investigating complaints about […]

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Petrol pump price reduce in Nigeria

National Bureau of Statistics, NBS, has disclosed that the average price paid by customers for premium motor spirit, PMS, otherwise known as Petrol, in September 2017 declined by 1.2 per cent year-on-year, YoY, to N144.5. In a report released, yesterday, NBS, however, noted that the PMS price increased marginally on a month-on-month, MoM, basis by […]

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NNPC to boost efforts on 7 basins

  As part of strategies to shore up the nation’s reserve base, the Nigerian National Petroleum Corporation (NNPC) will reinvigorate exploratory activities in the seven hydrocarbon basins in the country. NNPC Group Managing Director, Dr. Maikanti Baru, disclosed this Thursday when he received the Governor of Yobe State, Alh. Ibrahim Geidam at the NNPC Towers, […]

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NNPC boss face-off with Kachikwu

THERE are strong indications that the Federal Government would soon intervene to resolve the personality conflict between the Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, and the Group Managing Director of the Nigerian National Petroleum Corporation, Mr. Maikanti Baru. Read more at: Vanguard

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2 white UK oil moguls captured for fraud in Nigeria

Two United Kingdom oil executives – Osman Shahenshah and Shahid Ullah – have been arraigned over fraudulent activities in Nigeria. Shahenshah and Ullah, former chief executive officer and chief operating officer of Afren, a London-listed oil and gas exploration business were slammed with criminal offences of over payments they received through secret companies in the […]

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NPDC to grow crude up to 300,000 bpd by 2018

Nigerian Petroleum Development Company (NPDC), the flagship subsidiary of the Nigerian National Petroleum Corporation (NNPC), is poised to grow its equity production from the current 180,000 barrels per day to 300,000 bpd by 2018 and by 2019 and 2020 its production is expected to hit 400,000 bpd and 500,000 bpd, respectively. NPDC Managing Director, Mr. […]

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Yield cuts by OPEC and other oil makers are clearing a supply overabundance

Yield cuts by OPEC and other oil makers are clearing a supply overabundanceThe Organization of the Petroleum Exporting Countries, Russia and a few different makers have cut generation by around 1.8 million barrels for every day (bpd) since January. The gathering is thinking about expanding the arrangement past its March expiry, albeit two sources said […]

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NNPC to increase devt. capacity

The Nigerian National Petroleum Corporation (NNPC) will accelerate local capacity development in all its operations within the nation’s Oil and Gas industry. NNPC Group Managing Director, Dr. Maikanti Baru, disclosed this while delivering a keynote address during an occasion to mark the Egina Manifold Sail Away celebration in Port Harcourt on Tuesday. In crude oil […]

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NNPC moves to accomplish 2019 target

In line with the Presidential mandate of rehabilitating the nation’s three refineries, the Nigerian National Petroleum Corporation has inaugurated eight committees charged with returning the refineries to their nameplate capacities by the year 2019. While inaugurating the committees on Tuesday, Group Managing Director of the Corporation, Dr. Maikanti Baru, charged them to deploy “out of […]

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Alternative energy to be the biggest source of electricity soon

  A Dutch quality assurance and risk management company DVL GL published the report by Energy Transition Outlook 2017, which only took into account solar photovoltaic (PV), onshore and offshore wind and hydropower plants. Citing the report, Climate Action noted that final energy demand is expected to be 430 exajoules, (Unit of energy) in 2050, […]

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AfDB finances new solar projects in Africa

African Development Bank (AfDB) Group has approved three senior loans for a total amount of $55 million to finance three solar PV Projects under the second Round of the Feed-in-Tariff (FiT) Program in Egypt. Alcazar Energy Egypt Solar 1 (Alcazar I), Delta for Renewable Energy (Delta) and Shapoorji Pallonji Energy Egypt (SP), are the three […]

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NNPC improves gas supply amid challenges – August Report

The Nigerian National Petroleum Corporation (NNPC) has expanded day by day normal gaseous petrol supply to the country’s gas control plants by 123 percent to 730 million standard cubic feet per day (mmscf/d). The Corporation, in its June 2017 Monthly Financial and Operations Report said the gas supply was for June 2017 as against 327mmscf/d […]

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NNPC urges IPPG to participate in bid round for about 30 marginal oil fields

The Nigerian National Petroleum Corporation (NNPC) has urged members of the Independent Petroleum Producers Group (IPPG) to participate in the forthcoming bid round for about 30 marginal oil fields which will soon be flagged off by the Federal Government. The Group Managing Director of the Corporation, Dr. Maikanti Baru, gave this charge when he received […]

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