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Days before OPEC’s production cuts started on January 1, France’s Total had started up oil production from Nigeria’s ultra-deepwater oil field Egina, which is expected to produce 200,000 bpd at peak output. The French supermajor began…
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Nigeria would soon be retaining some $5 billion in foreign exchange with the exportation of two million metric tons per annum (MTPA) of Urea fertilizer by Indorama Eleme Fertilizer and Chemicals Limited’s (IEFCL) from its Train 2…
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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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Over 10,000 contract staff on the employment of international oil companies (IOCs) and local crude producers will not be confirmed in 2019. This came as the companies advanced plans to cancel many projects that they consider to be…
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The Federal Government has said the funding for early works of resettlement and surveys is ongoing for the $5.72 billion (about N2 trillion) Mambilla hydropower project in Taraba State expected to generate 3050 megawatts (MW). There…
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*Losses hit N488bn in 11 months *Weak investment threatens outlook DESPITE its 202 trillion standard cubic feet, scf, gas reserves, Nigeria has not been able to harness enough of its gas for power generation, as a result of many…
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Nigeria’s external reserves increased by 11 per cent from the $38.912 billion it was as of January 2, 2018, to $43.195 billion as of December 28, 2018. This represented an increase by $4.3 billion within the period. The reserves had…
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Nigeria’s deepwater oil field, Egina, achieved first oil production late on Saturday, raising the country’s daily oil production above 2.09 million barrels in December 2018, the Nigerian National Petroleum Corporation has announced. …
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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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