The Nigerian National Petroleum Corporation’s (NNPC) deductions from crude oil sales revenue for petrol subsidies in the first three months of 2018 alone exceeded the deductions for the whole of 2017, a report by the World Bank has revealed. Specifically, the Bank in report titled: “Nigeria Bi-annual Economic Update for Fall 2018,” disclosed that while…
Indications emerged Wednesday that the Nigerian government is yet to decide whether it would participate in any production cuts ahead of the Organisation of the Petroleum Exporting Countries (OPEC) meeting slated for December 6. Ibe Kachikwu, Nigeria’s oil minister, said on Wednesday that it was too early to say whether Nigeria would participate in any…
To stem cross border leakages and forestall attendant products price hikes, Managing Director of the Petroleum Products Marketing Company (PPMC), Mr. Umar Ajiya, has enjoined Major Marketers Association of Nigeria (MOMAN) to regulate the volumes of petroleum products dispatched to their members’ affiliate stations close to the country’s borders. Mr. Ajiya, who spoke during an…
The Minister of Petroleum, Industry and Mineral Resources of the Kingdom of Saudi Arabia, Khalid Al-Falih, Wednesday, held talks with the Federal Government of Nigeria as parts of effort to bring about a stabilisation in the crude oil price and in the international crude oil market. Speaking during a visit to the Minister of Petroleum…
The inaction of the Nigerian Government with respect to delayed approval for projects in the Benin embayment, is currently stalling investments in the area, and threatening the resolve by the current government to grow its oil reserves. Investment running into billions of dollars that could have poured into Nigeria’s Benin embayment and the economy is…
Matrix Energy Limited has said its investment in Liquefied Petroleum Gas (LPG) in Nigeria is more of social responsibility with the ultimate aim to raise awareness of energy consumers to cleaner and cheaper energy. The Chief Marketing Manager, Mrs. Toyin Sowumi who disclosed this recently at a ‘Meet Your Customers Forum’ in Warri also said…
Chevron Nigeria Limited at the 36th International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE), in Lagos, said more exploration activities to find new resources and increasing reserves from discovered assets, would help in growing Nigeria’s overall hydrocarbon reserves. The General Manager, Asset Development and Exploration, CNL, Kunle Adeyemo, said Nigeria has…
THE billionaire businessman, Dr. Louis Ekere, Chief Executive Officer, Homeland Integrated Offshore Services Limited, is a man of great feats, who has made several contributions toward the development of many sectors of the economy, especially oil and gas. Consequently, it was not surprising when he was conferred with the much-talked-about Doctorate Degree by Trinity International…
Nigeria Liquefied Natural Gas (NLNG) has offered a cargo for loading in December, three industry sources said on Tuesday. The company has likely offered the cargo through private negotiations and it was not immediately clear if it was a firm offer, one of the sources said. NLNG can produce 22 million tonnes of LNG a…
Dear Participants / Interested Party, I write further to my previous e-mail on the “Flare Gas (Prevention of Waste and Pollution) Regulations 2018” which provides a legal framework for the implementation of the Nigerian Gas Flare Commercialization Programme [NGFCP] to provide you with an update on the Programme. We are pleased to announce the first bid round for the flare gas…
