• PPPRA Refutes Rumour Of Fuel Price Hike

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    The body charged with the responsibility of regulating the price of petroleum products in Nigeria, the Petroleum Products Pricing Regulatory Agency (PPPRA) yesterday denied speculations of fuel price increase currently making rounds. The agency in a press statement signed by its spokesperson, Lanre Oladele assured Nigerians of the availability of the products, stressing that stories…

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  • Non-Passage Of PIB Inimical To Economy, CLSD Tells NASS

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    The African Centre for Leadership, Strategy and Development (Centre LCD) has urged the National Assembly to keep faith with its promised to pass the Petroleum Industry Bill (PIB) now known as Petroleum Industry Institution Framework Governance Bill (PIGB) within the first quarter of 2017, stressing that the country’s economy will continue to suffer from the…

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    NNPC/Sahara Energy JV Unveil Vessels To Boost LPG Supply

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    The West Africa Gas Ltd (WAGL), a Joint Venture Company of Nigerian National Petroleum Corporation, NNPC, and Sahara Energy will unveil two LPG vessels in Ulsan, South Korea later today, and it is expected to help improve the supply network of the subsector which has often impedes stable availability of Liquefied Petroleum Gas, LPG, otherwise…

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  • NNPC

    NNPC, Schlumberger Collaborate On Frontier Exploration

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    The Nigerian National Petroleum Corporation, NNPC, has stepped up collaboration with the reputable multinational oil service company, Schlumberger, in the deployment of state-of-the-art technology in the ongoing search for commercial hydrocarbon deposits in the Chad basin and other parts of the inland sedimentary basins. In an interview published in the latest edition of the monthly…

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  • NNPC Advocates Increase Oil Royalty

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    As part of efforts aimed at ensuring that the federal government optimise the collection of royalties and other revenue in deep water oil production activities, the Nigerian National Petroleum Corporation (NNPC), yesterday proposed some key amendments to the Deep Offshore and Inland Basin Production Sharing Contract (PSC) Act. The Corporation made the proposal while making…

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    Kerosene Scarcity To End Soon–NNPC

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    The Nigerian National Petroleum Corporation (NNPC) has assured Nigerians that the current kerosene scarcity being experience across the country will abate soon as the Corporation’s three refineries in Kaduna, Port Harcourt and Warri have resumed production of Automotive Gas Oil (AGO) and Dual Purpose Kerosene (DPK), otherwise known as diesel and kerosene respectively. Describing the…

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    AMG, 37 Others To Lift 1.3mbpd Of Crude In 2017

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    The Nigerian National Petroleum Corporation (NNPC) yesterday released the list of 39 companies that emerged winners of a bid held in November 2016, to lift a total of 1.306 million barrels per day of the country’s crude oil for sale in the international market for the 2017/2018 year. The successful bidders comprise 18 Nigerian companies,…

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  • OIL

    Oil Hits 18-month High At $58pb As Output Cut Begins

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    Crude oil price rose to an 18-month high of $58.37 on the first day of trading in 2017, yesterday. This followed anticipations anchored on a possible deal between members of the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC members, which could lead to cut in production. Kuwait was reported to have accepted to cut…

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    Oil Price Hits $55pb As Output Cut Deadline Draws Near

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    As the January 1, 2017 official start-off date for a deal to cut crude oil output by the Organisation of Petroleum Exporting Countries (OPEC) and several non-OPEC producers by almost 1.8 million barrels per day (bpd) draws near, oil price yesterday edged further above $55 a barrel. Experts have said the move is an indication…

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    NNPC Lifts N461bn Crude In 21 Months

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    The Nigeria Extractive Industries Transparency Initiative (NEITI) has disclosed that the Nigerian National Petroleum Corporation (NNPC) lifted and utilised 1.28 trillion barrels of crude oil valued at $61.17 billion between January 2015 and September 2016. A breakdown of the activities showed that international oil companies (IOCs) and independent companies lifted 809.98 million barrels, while government…

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