How FG lost N1.9trn to oil theft in July – Report
Crude oil theft may have cost the country an enormous N1.9tn in revenue loss in July. The estimate was reached when the…
Oil and Gas
Leading source of the latest news and insights for the oil & gas industry; upstream and downstream sector
Oil, gas contributed 5.34% to Nigeria’s GDP – Report
Nigeria’s oil and gas sector generated only 5.34% of the country’s Gross Domestic Product. Its contribution was lower than in the equivalent…
Nigeria, Algeria, Egypt to dominate Africa’s gas supply market from 2023 to 2027 – Report
Nigeria, Algeria, and Egypt are predicted to dominate the African natural gas and liquefied natural gas supply market from 2023 to 2027.…
Nigeria lost 165k oil barrels daily in five months – Report
Nigeria lost 165,000 barrels per day due to crude oil production disruptions between January and May 2023. The African Energy Chamber gave…
Gas production at Bonny plant still active – NLNG
The Nigeria Liquefied Natural Gas Limited has stated that gas production at the facility in River State’s Bonny Island is still going…
No intention to hike fuel pump price – IPMAN
The president of the Independent Petroleum Marketers Association of Nigeria, Chinedu Okoronkwo, has stated that the group has no intentions to raise fuel…
More refineries won’t lower petrol price – Tinubu’s aide
President Bola Tinubu’s Senior Special Assistant on Media and Public Affairs, Ajuri Ngelale, has revealed that more refineries in Nigeria will not…
Nigeria’s Forcados crude oil resumes exports, says Shell
An oil company official confirmed on Monday that Shell Nigeria resumed exports of the nation’s Forcados grade of crude oil on Sunday.…
Diesel nears N900/liter in Lagos, other S’West states
Diesel rates have reached N867 per liter in Lagos state and N875 in other Southwest states as of today, Saturday, August 12. Nairametrics reported…
NNPCL reports 121 cases of crude theft in one week – Report
The Nigerian National Petroleum Company Limited has recorded 121 crude oil theft incidents between July 29 and August 4, 2023. The company’s weekly…
Nigeria’s crude production falls to 1.3m bpd
Nigeria’s crude oil output fell to 1,294,162 barrels per day in July 2023. This is according to the Nigerian Upstream Petroleum Regulatory…
Petrol pump price to increase as dollar rises — IPMAN
The Independent Petroleum Marketers Association of Nigeria has said the price of Premium Motor Spirit, popularly known as petrol, would continue to…