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Nigeria is to lose about 226,300,000 million barrels of oil production in 2019, representing about 27 per cent of its current year’s target. The loss is sequel to the Organisation of Petroleum Exporting Countries (OPEC) decision to cut the…
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OPEC’s January production is likely to come in lower than anticipated, a former Saudi Aramco executive said in a statement to CNBC on Thursday. The oil cartel agreed last month to shave 800,000 barrels per day off its October production…
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Nigeria’s Minister of State for Petroleum Resources, Mr Ibe Kachikwu, has said the Federal Government generated over $2 billion from the renewal of oil block licences. The former Group Managing Director the Nigerian National Petroleum…
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Libya’s largest producing oil field, Sharara, may be losing 8,500 bpd of crude to looters, the National Oil Corporation said today. The field, which normally yields some 315,000 barrels daily was seized by a group of local…
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A total of 42 oil block licences held by some international and indigenous operators will expire this year, data obtained from the Department of Petroleum Resources on Monday showed. OML 114, operated by Moni Pulo Limited, will be due…
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NEWS Nigeria’s crude oil production rises 9% Nigeria’s crude oil daily production recorded an upward swing of about 2.09million barrels in 2018, translating to a 9 per cent increment, compared with the 2017 average daily…
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The Nigerian National Petroleum Corporation (NNPC) has so far paid $1.5 billion out of the negotiated $5.1 billion joint venture (JV) cash call debt it owes International Oil Companies (IOCs) operating in Nigeria. The corporation’s…
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Most crude oil produced in Nigeria’s Niger Delta region now come from Production Sharing Contracts (PSCs), a recent report by the Nigerian National Petroleum Corporation (NNPC), has disclosed. The NNPC in its monthly operations and…
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A study carried out on the operational status of the over 5,000 kilometres of pipeline network belonging to the Nigerian National Petroleum Corporation (NNPC) across the country, has revealed that the pipeline network would need $12…
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-Demand For Appropriate Dialogue With SEEPCO Irked by the forceful oil exploration in OKWUIBOME J location which belongs to the Umu-Eze family in Umu-Ugbome quarters, Okpai, Ndokwa East LGA without proper consultations by Sterling Oil…
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