Oil & Gas

254 local, foreign firms bid to trade Nigeria’s crude oil in 2018

The Nigerian National Petroleum Corporation, NNPC, yesterday, started the process for the selection of off-takers for its various crude oil grades in 2018, with 254 companies indicating willingness to participate in the process.


Nigeria’s Oil Production Hits 2.25mbd

Nigeria’s daily crude oil production with condensates has increased to 2.25 million barrels per day (mbd), but with crude oil production alone standing at 1.8mbd, while condensates are 450,000 barrels per day (bd), the Nigerian National Petroleum Corporation (NNPC) has disclosed.


Reps move against NNPC over fuel subsidy payment

Knocks await the Nigerian National Petroleum Corporation (NNPC) on Tuesday, next week, when the House of Representatives reconvenes.


Two refineries process 331,705MT crude oil in one month

Port Harcourt Refineries Company (PHRC), and the Warri Refining and Petrochemical Company (WRPC), processed 331,705 Metric Tonnes (MT) of crude oil in October last year.


Black gold managers reel out expectation for 2018

Ministers of oil resources in Organisation of the Petroleum Exporting Countries (OPEC), have reeled out expected challenges for the global oil sector in 2018.


Nigeria attracts oil, gas investors through petroleum summit

Nigerian International Petroleum Summit (NIPS), an African Petroleum Technology and Investment Conference, is expected to attract new investors into the region’s oil and gas industry.


New refineries as solution to Nigeria’s fuel challenge

AS a leading oil and gas producer with about 2.5 million barrels per day capacity and four refineries with installed 445,000 barrels per day capacity, importing petroleum products to Nigeria should have been like taking coal to Newcastle in the United States of America.


‘Oil majors may shun exploration investment in Nigeria, others’

The Nigerian National Petroleum Corporation (NNPC), may continue to spearhead exploration activities, as oil majors are set to remain sluggish in spending on searching for new discoveries.


Fuel supply sabotage and the enemy inside

PRESIDENT Muhammadu Buhari (PMB) threatened to find out the so called sabouters who caused the terrible fuel scarcity that disrupted the peace of most Nigerians over the Christmas/New year celebrations and to punish them severely.


Rig owners get new technology to mitigate haphazard drilling

The Association of Professional Rig Owners and Borehole Drilling Practitioners (AWDROP) has procured a new Intelligent Automatic Mapping Geo-physiological prospecting water detector, an equipment to militate against haphazard drilling of boreholes in the country.


NIPCO promises market friendly rates, unfettered access” in 2018

Amidst the current fuel crisis in the country, NIPCO has offered some soothing words to stakeholders, promising market friendly rates for all petroleum products from its depot in 2018.


Local content: We were offered vessel to drop petition against oil firm, Senate alleges

THE Senate, yesterday, raised the alarm that it was offered a vessel as bribe to kill a petition brought against an oil firm for allegedly flouting the Nigerian Oil and Gas Industry Content Development Act.


Other news

NLC holds rally in Kaduna tomorrow against sacking of workers

The Nigeria Labour Congress (NLC) has said it would embark on protest against the sacking of workers in Kaduna State tomorrow.

Kaduna invokes no-work no-pay policy on striking teachers

As the indefinite strike embarked upon by primary school teachers in Kaduna State to protest the mass sacking of teachers that failed competency test enters the second day, the state government, yesterday, declared that it will invoke the policy of no-work no-pay.


Mass killings: Nigeria sliding into safe haven for terrorism — NLC

NIGERIA Labour Congress, NLC, yesterday expressed disgust over the rate of serial killings across Nigeria especially in Benue, Nasarawa, Adamawa, Rivers and Taraba States were being perpetrated by civilians in the guise of herdsmen.


Unmask Benue killers, sponsors, TUC tells Buhari

The Trade Union Congress says it is aggrieved at how innocent citizens were being hacked to death in Benue State and elsewhere around the country.


World Forecasts 2.5% Growth for Nigeria in 2018

The World Bank has forecast that economic growth in Nigeria would edge up to at least 2.5 per cent in 2018, as the country benefits from improved commodity prices, investments and trade.

Defending Pension Assets in 2018

President Muhammed Buhari’s administration has a singular additional responsibility to safeguard and protect the 14- year-old pension reform of 2004, as amended in 2014.


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