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The Nigerian Petroleum Development Company is making efforts to raise $3.15bn through third party financing to develop the country’s oil and gas reserves from Oil Mining Lease 13, PUNCH reports The flagship subsidiary of the…
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The Federal Government yesterday announced the approval of a $9m variation for the Escravos to Lagos gas pipeline, raising the total contract sum to $186m. The approval was granted during yesterday’s Federal Executive Council…
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The Federal Executive Council (FEC) on Wednesday approved the engineering procurement construction and installation for oil pipeline contracts worth $3.7 billion. The Minister of State for Petroleum, Dr. Ibe Kachikwu, who disclosed…
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Nigeria’s Minister of State for Petroleum, Ibe Kachikwu, has said that Nigeria now produces 1.78 million barrels of crude oil per day (bpd). Speaking in Abuja Wednesday, Mr. Kachikwu added that the nation was expecting output from Egina…
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Maikanti Baru, the Group Managing Director, Nigerian National Petroleum Corporation (NNPC), says non-compliance to regulations by operators in the oil and gas sector hinders growth in the industry. Baru made this known at the 2018 annual…
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Top on the worry list of stakeholders in the nation’s oil and gas industry are the uncertainty caused by the delay in the passage of the Petroleum Industry Bill and the lack of adequate refining capacity. After over 60 years of…
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Foreign Direct Investment in Nigeria’s oil sector dropped by $17.12m in the third quarter of 2018, the Nigerian Natural Resource Charter stated on Wednesday. According to the NNRC, foreign investments in the sector plunged from $24.85m…
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Review of a new report has revealed that Nigeria's petroleum products pipelines are in a state of disrepair and need to be fixed or replaced The outcome of a study commissioned by the Nigerian National Petroleum Corporation (NNPC) to…
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The Nigerian independent Eroton Exploration and Production Company Limited has successfully refinanced the facility it took from Guarantee Trust Bank to purchase the 45% of Oil Mining Lease (OML) 18 in the eastern Niger Delta. Eroton…
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At a time the oil cartel, the Organisation of Petroleum Exporting Countries, OPEC, embarked on an 800,000 barrels per day production cut for the next six months, with Nigeria contributing about 40,000 barrels, the country’s rig count took…
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