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The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, said that the country’s refineries had not undergone Turn Around Maintenance (TAM) for an aggregate of 42 years. Baru disclosed this…
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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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The importance of health safety and environment cannot be overemphasised in the global oil and gas industry. It underscores the need for operators in the industry to be alive to the primordial responsibilities which add value to lives…
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Total has stated that it expects to start up production from the Egina field, offshore Nigeria before the end of this week, most likely by January 3, 2019. The Egina field is the company’s second large deepwater oil project to be…
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A heavy gas explosion wreaked havoc in Enugu on Monday, causing large-scale destruction of properties. Among the properties destroyed were a filling station, a nearby six-bedroom duplex and three tankers. The gas explosion occurred…
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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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Organisation of Petroleum Exporting Countries, OPEC, has harped on the positive roles of Angola, as the Secretary-General, OPEC, Dr. Mohammad Sanusi Barkindo, visits Luanda, Angola. In its recent lecture, OPEC and its role in…
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Nigeria’s external debt declined marginally by 2.02 percent to $21.6 billion in the third quarter of 2018, Q3’18, from $22.1 billion recorded in the second quarter 2018, Q2’18, almost cancelling out the 1.2 percent rise in domestic debt…
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Oil markets have always been cyclical, and now even more so with advanced electronic trading, more speculation (which often results in wider oil price swings) and more producers, including the resurgence of U.S. oil production, now…
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