Nigeria’s Oil Supply Faces Glut
Energy March 8, 2018
Plenty supply of light and medium grades from the North Sea and the Mediterranean are limiting buying interest for Nigerian crude , thus making it to face a glut. This is coming as Angola launches big oil block. A glut of Nigerian cargoes reckoned to be near 50 cargoes... Read more
Hike in Crude Oil Price: Marketers Shun Petrol Import
Energy January 3, 2018
Petroleum marketers have told the Federal Government that they would be abdicating their role of importing petroleum products. At the meeting they had with the Minister of State for Petroleum , Dr Ibe Kachikwu yesterday in Abuja , they hinged their decision on the rising price of crude... Read more
Fuel Scarcity Blamed on Crude Price Increase, Subsidy Removal
Energy January 3, 2018
Petroleum marketers have attributed the fuel scarcity witnessed in different parts of the country during the Christmas festival to the increase in the price of crude in international market and the removal of subsidy. This is as the Minister of Petroleum Resources, Dr. Ibe Kachikwu has said that no... Read more
Fuel Crisis: APC – Led Govt Challenged on Lasting Solution
Energy December 28, 2017
The ruling All Progressives Congress (APC) has been told to find a lasting solution to the recurring incidence of fuel scarcity be devilling the country. National chairman of The Action Democratic Party (ADP) Yabagi Sani who threw the challenge to the party in a statement described as shameful... Read more
Nigeria Gets OPEC’s Approval from Oil Production Cuts
Energy September 22, 2017
Nigeria’s exemption from oil production cuts has been approved by the Organisation of Petroleum Exporting Countries (OPEC) and Non-OPEC countries. A statement by the Director, Press Relations, Ministry of Petroleum Resources, Mr Idang Alibi, said the endorsement was given by at a meeting of OPEC’s Joint Ministerial Monitoring Committee... Read more
NNPC Cautions Motorists against Panic Buying
Energy September 18, 2017
• Says Jetty Fire Will Not Affect Supply Motorists and other consumers of petroleum products nationwide have been advised against engaging in any form of panic buying of petrol as the fire incident which occurred at Apapa loading jetty of the Nigerian National Petroleum Corporation (NNPC), at the early... Read more
Nigeria Targets 40 b Barrels Oil Reserves by 2020
Energy June 30, 2017
The Nigerian National Petroleum Corporation (NNPC) moves towards the realization to grow the nation’s crude oil reserves to 40 billion barrels by the year 2020 sequel to a tripartite agreement in Abuja. The NNPC signed the agreement between FIRST Exploration & Production Joint Venture on one hand and Schlumberger... Read more
At Last ,Senate Passes PIGB Bill
Energy May 26, 2017
The Nigerian Senate on Thursday finally passed The Petroleum Industry Governance Bill about 17 years of considering the Bill. During the day’s plenary, the bill was read the third time before the chamber. While considering clauses of the bill, the lawmakers disagreed on who would have the responsibility to... Read more
NNPC Set to Resume Oil Prospecting in Lake Chad
Energy May 16, 2017
The Nigerian National Petroleum Corporation (NNPC) is set to resume oil prospecting in the Lake Chad Basin of Borno state. The Group Managing Director of NNPC, Dr Maikanti Baru, made the promise when he visited Gov. Kashim Shettima at the Government House in Maiduguri on Monday. Baru was represented... Read more
NNPC Moves to Boost Gas Supply by 285% in 2020
Energy May 10, 2017
The Nigerian National Petroleum Corporation (NNPC) and its partners have evolved a scheme to grow gas supply for domestic consumption by 285% from 1.3billion standard cubic feet per day to 5bscf/d by 2020. This was disclosed at the 7 Critical Gas Development Projects (7CGDP) stakeholders’ meeting on Tuesday at... Read more