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The Nigerian government incurred N623.17 billion on petroleum products supply under-recovery cost between January and November this year, a summary of the monthly estimates of the expenditure by the Nigerian National Petroleum Corporation…
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The Nigerian government incurred N623.17 billion on petroleum products supply under-recovery cost between January and November this year, a summary of the monthly estimates of the expenditure by the Nigerian National Petroleum Corporation…
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Forte Oil Plc Chairman Femi Otedola is set to sell his entire 75 per cent majority equity stake in the company in a deal estimated at about N25 billion – which translates to giving up the ownership. Forte Oil yesterday confirmed…
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Minister of State for Petroleum Resources, Ibe Kachikwu, has spent over three years in office. In a recent interview with The Guardian, Kachikwu spoke on the challenges facing Nigeria’s oil and gas sector and noted that the sector needed…
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The Nigerian National Petroleum Corporation, NNPC, Monday, disclosed that under-recovery of Premium Motor Spirit, PMS, also known as petrol, has dropped to N20 per litre from over N80 a couple of weeks back, noting, however, that the…
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Foreign investment inflow into the Nigeria petroleum industry between January and September 2018, declined sharply by 61.6 per cent to $118.2 million, compared to $307.54 million recorded in the same period in 2017. Data obtained from…
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Eland Oil & Gas PLC (AIM: ELA), an oil & gas production and development company operating in West Africa with an initial focus on Nigeria, announces that through its joint-venture subsidiary, Elcrest Exploration and Production…
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Just a couple of weeks after OPEC and its partners agreed to implement another round of production cuts, the cartel is ready to extend these cuts as international prices continue to fall. Reuters reports, citing the oil minister of…
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The Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), and 22 other oil companies are yet to pay to the federation $3,632,075 as fines for flaring gas beyond their allowed…
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A plan by the Federal Government to boost domestic gas production for increased power generation and industrialization may materialize soon as the Shell Petroleum Development Company of Nigeria Limited (SPDC) announced the Final Investment…
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