Oil and Gas Archives — Page 15 of 18

July 9, 2020 No Responses

NNPC Increases Gas Supply To Power Sector By 19%

The Nigerian National Petroleum Corporation (NNPC) has announced an increase of 19.14 per cent in the average daily natural gas supply to power plants in April 2020. The Corporation disclosed this on its Monthly Financial and Operations Report (MFOR) for...

July 9, 2020 No Responses

Nigeria Explains Deregulation Of Oil Downstream Sector

The Minister of State for Petroleum Resources, Chief Timipre Sylva on Thursday aid the deregulation of the downstream oil sector was to ensure economic growth and development of the country. In a statement, Sylva explained that was unrealistic to continue...

July 7, 2020 No Responses

600 Firms Bid For Nigeria’s 57 Marginal Oilfields

Over 600 companies have applied to be prequalified for the ongoing bid rounds of 57 marginal oilfields in Nigeria, the Department of Petroleum Resources (DPR) has said. Director of DPR, Mr Auwalu Sarki made the disclosure while speaking on Tuesday in a.....

June 16, 2020 No Responses

Expert To FG: List NNPC On Stock Exchange

The federal government has been urged to prioritise the listing of the Nigerian National Petroleum Corporation (NNPC) on the Nigerian Stock Exchange (NSE) as part of its Economic Sustainability Plan. Uche Uwaleke, Professor of Capital Market at the Nasarawa St...

June 8, 2020 No Responses

Eni In Major overhaul, Shifts Toward Renewable Energy

Italian energy giant Eni has announced a major overhaul of its business as it steps up efforts toward energy transition. The company will create two business units with one focused on oil and gas called “Natural Resources” and the second...

June 5, 2020 No Responses

PPPRA Removes Price Cap On Petrol

The Petroleum Products Pricing Regulatory Agency (PPPRA) has removed the cap on the price of Premium Motor Spirit (PMS) also known as petrol. The agency made the disclosure in a document it released in Abuja on Thursday entitled, ‘’Market Based...

April 27, 2020 No Responses

Agip Deploys More Measures Aganst COVID-19

Nigerian Agip Oil Company Limited (NAOC), on Sunday, explained that it has implemented far reaching measures to ensure safety of personnel and facilities in its operating and field locations. A statement issued onbehalf of the company by Folu Olapade exp...

April 14, 2020 No Responses

Shell Resumes Oil Export From Forcados Oil Export Terminal

Shell Petroleum Development Company of Nigeria Limited (SPDC) on Monday said it has resumed oil exports from the Forcados Oil Export Terminal. NAN reports that SPDC halted exports on April 4 over ‘unforeseen circumstances’ in its operations. Mr Michael Ada...

March 31, 2020 No Responses

Oil Price Drops To Lowest Level In 18 years

The price of oil has sunk to levels not seen since 2002 as demand for crude collapses amid the coronavirus pandemic. Brent crude fell to $22.58 (£18.19) a barrel at one point on Monday, its lowest level since November 2002....

February 19, 2020 No Responses

Nigeria Loses $750m To Oil Theft In 2019

Nigeria lost about 750 million dollars to oil theft in 2019, the Nigerian National Petroleum Corporation (NNPC), said on Tuesday .The NNPC Group Managing Director, Malam Mele Kyari, disclosed this in a statement signed by the Acting spokesman for the...

February 13, 2020 No Responses

Nigeria Discovers Crude Oil In Northeast

The Minister of State for Petroleum Resources, Chief Timipre Slyva, said that about one billion Barrels of Crude oil have been discovered in Northeastern part of Nigeria. Sylva made the disclosure at a news Conference to end the 2020 Nigeria...

February 9, 2020 No Responses

New LNG Transshipment Terminal Gets Approval

Russia’s federal autonomous institution, Glavgosexpertiza has reviewed and approved the design documentation and engineering survey results for the construction of an LNG transshipment terminal in the Kamchatka Territory. In October 2017, the Kamchatka gover...

January 4, 2020 No Responses

Oil Prices Jump After Iranian General Killed By US

Oil prices have risen sharply after the killing of a top Iranian general in Iraq. Analysts warned the action could escalate tensions in the region and affect global oil production. The price of Brent crude jumped by more than 3%...

January 3, 2020 No Responses

NNPC Explains N13.23b Trade Surplus

The Nigerian National Petroleum Corporation (NNPC) recorded a trading surplus of ₦13.23billion in October 2019. This represented an increase of 54 per cent compared to ₦8.59 billion surplus posted in September 2019. The Corporation disclosed this in its Mo...