BREAKING: NNPC unveils new crude oil grade …C0NTINUE READING HERE >>> In a major boost for Nigeria’s crude oil production, revenue generation and economic growth efforts, the Nigerian National Petroleum Company (NNPC) Limited has officially unveiled its latest crude oil grade, the Utapate crude oil blend, before the international crude oil market. Recall that in … Read more
NNPC records 1.8mbpd crude oil production …C0NTINUE READING HERE >>> The Nigerian National Petroleum Company (NNPC) Limited says it has achieved 1.8 million barrels per day crude production following continuous dislodgement of pipeline vandals and crude oil thieves. Mr Lawal Musa, Chief Production War Room Officer, NNPC Ltd., said this on Thursday in … Read more
‘Trump’s Election Victory Raises Oil Prices’ …C0NTINUE READING HERE >>> Oil prices turned upward yesterday after initially dropping over $2 per barrel, despite a report of unexpected growth in U.S. crude stockpiles, as released by the Energy Information Administration (EIA). Brent crude futures rose 38 cents, or 0.5%, reaching $75.91 per barrel, while U.S. West … Read more
Oil Marketers Write Tinubu, Mull Shutting Down As Nigerians Reduce Fuel Consumption …C0NTINUE READING HERE >>> Amid a steep decline in fuel consumption due to surging fuel prices, oil marketers in Nigeria are facing unprecedented challenges, with around 10,000 dealers on the brink of shutting down. Recent data from the Nigerian Midstream and Downstream Petroleum … Read more
Crude Oil Supply Challenges Ease As Dangote Refinery Receives Four Cargoes …C0NTINUE READING HERE >>> The Dangote Petroleum Refinery has taken delivery of four crude oil cargoes from the Nigerian National Petroleum Company Limited (NNPCL) as part of the naira-for-crude agreement, according to officials from both the refinery and the Federal Government on Tuesday. The … Read more
Nigeria has no reason to import crude oil – IPPG …C0NTINUE READING HERE >>> Nigeria should not be importing crude oil to meet domestic refinery feedstock needs, says the Independent Petroleum Producers Group (IPPG). Its Chairman, Mr Abdulrazaq Isa, said this at the Crude Oil Refinery Owners Association of Nigeria (CORAN) Summit in Lagos. The … Read more
FG commences sales of crude oil in Naira to Dangote, others …C0NTINUE READING HERE >>> The Nigerian government has officially begun selling crude oil and refined petroleum products in naira to Dangote Refinery and other local refining companies. This initiative is part of President Tinubu‘s administration’s strategy to promote long-term economic growth and self-sufficiency. This … Read more
FG sets new target for oil, gas production …C0NTINUE READING HERE >>> The Federal Government has said that it is targeting four million barrel per day (bpd) of oil production, and 10 billion cubic feet (bcf) of gas production by 2030. Mrs. Olu Verheijen, Special Adviser (SA) to the President on Energy, made … Read more
NASS to unveil joint probe into petroleum sector …C0NTINUE READING HERE >>> The National Assembly would unveil its probe into alleged economic sabotage within Nigeria’s petroleum sector, following the decision to form a joint committee. This became necessary after the earlier suspension of separate probes by the Senate and House of Representatives in July. The … Read more
FG set to boost oil production to 2 million bpd …C0NTINUE READING HERE >>> Senator Heineken Lokpobiri, Minister of State Petroleum Resources (Oil), says Oando’s acquisition of Eni’s Subsidiary, Nigerian Agip Oil Company (NAOC) will ramp up crude oil production to two million barrels per day (bpd). Advertisement The Minister said the Oando company has … Read more