Industry

• Cost of production, investment, hurdles cast shadow to 40b reserves• Stakeholders pick holes, say $500m signature bonuses an economic buffer • Bid more of ability to pay than play, says Iledare About $7 billion (N3 trillion)…
Read More...

By Teddy Nwanunobi Chinese XCMG Construction Machinery will be working together with Dangote Industries Limited on the world’s largest oil refinery project to be located at Lekki Free Zone in Lagos State, and has already deployed a team…
Read More...

...Hails Kyari's reforms at the Corporation A group under the auspices of Nigeria Reforms Support Forum (NESF) has alleged that some top management staff of the Nigerian National Petroleum Corporation (NNPC) are eyeing and  lobbying for…
Read More...

The Federal Government has said a policy on the operations of artisanal refineries in the country would soon be unveiled. The Senior Special Assistant to the President on Niger Delta Affairs, Senator Eta Enang, explained that the policy…
Read More...

The Department of Petroleum Resources (DPR) yesterday concluded the 2020 marginal oilfield bid round, the first successful bid since 2003 when 24 assets were put on offer. The process, which culminated in the presentation of letters to…
Read More...

The N250 billion gas expansion fund set aside by the Central Bank of Nigeria (CBN) to ramp up the production and consumption of Liquefied Petroleum Gas (LPG) is capable of significantly improving the overall industry output, some industry…
Read More...

By Teddy Nwanunobi Following the expiration of deadline given to all petroleum marketers by the Department of Petroleum Resources (DPR), within when to register their retail outlets into its e-Station platform, the Abia State Field…
Read More...

By Teddy Nwanunobi The Federal Government has disclosed that only 1,700 reserves are currently producing crude oil, out of the 7,000 oil reserves that have been discovered in the country. Speaking in Abuja, the Department of…
Read More...

-By Teddy Nwanunobi Nigeria, a member of the Organisation of Petroleum Exporting Countries (OPEC), reported a huge drop in oil export. This was despite OPEC’s output rising to 25.52 million barrels per day (mbpd), according to a…
Read More...

There was an indication that the Nigerian National Petroleum Corporation, NNPC, has made good its threat to deduct the N111.966 billion it spent in subsidizing the pump price of petrol in March by withholding same amount from the…
Read More...