Nigeria’s oil production dips to 1.25mbpd – OPEC
Nigeria’s daily oil production fell further to 1.25 million barrels per day in May, according to a report by the Organization of…
Oil and Gas
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Local refiners can crash fuel price to N300/litre – Operators
The operators of modular refineries have said that the pump price of Premium Motor Spirit, popularly called petrol, should drop to about…
Foreign investors may dump 20 modular refineries amid crude shortage
International financiers that are meant to fund the construction of about 20 modular refineries in Nigeria have withheld their funds due to…
ExxonMobil waits for NNPCL to lift ban on Seplat/MNPU
ExxonMobil has said that it is awaiting the Nigerian National Petroleum Company Limited to lift the ban preventing the sale of its…
Oando profit hits N74.7bn in unaudited 2023 financial report
Oando Plc has reported a 78.9% increase in revenues to N3.5 trillion in its unaudited 2023 full-year results. This disclosure was made…
NNPC launches major CNG plant in Lagos
The Federal Government has launched a Compressed Natural Gas plant with a capacity of 5.2 million standard cubic feet per day (mmscfd)…
Nigeria produced 159m barrels of oil in four months – NUPRC
The Nigerian Upstream Petroleum Regulatory Commission has revealed that Nigeria produced 159,158,191 barrels of crude oil in the first four months of…
Why Total snubbed Nigeria, picked Angola for $6bn energy project
The Chief Executive Officer of TotalEnergies, Patrick Pouyanne has expounded on why the company is investing $6 billion in energy projects in…
NNPCL blames theft, vandalism, underinvestment for oil output decline
The Group Chief Executive Officer of Nigerian National Petroleum Company Limited, Mele Kyari, has attributed the persistent failure of Nigeria to meet…
Nigeria’s crude oil production rise to 1.28m/b in April – OPEC
The Organization of Petroleum Exporting Countries monthly oil market report has revealed that Nigeria’s average crude oil production for April slightly rose…
Shell probes smoke near Bayelsa oil facility
Shell is investigating reports of smoke and explosions that occurred in the vicinity of its Gbaran Ubie oil and gas installations in…
Nigerian crude dips to $86.5 per barrel as global demand weakens
Nigeria’s crude oil prices experienced a slight dip to $86.53 per barrel, while maintaining their premium status amidst increasing global petroleum and…