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The Nigerian Navy Forward Operating Base, Igbokoda, said it had discovered five illegal refineries in some communities in the Araromi seaside area of Ilaje Local Government Area of Ondo State. The military said the illegal…
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The pump prices of Premium Motor Spirit (PMS) petrol will moderate this year as government and private-owned refineries begin operation, Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso has said. Cardoso spoke on Wednesday,…
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A gas pipeline belonging to the Nigeria Agip Oil Company has exploded in the Obagi community in Ogba/Egbemga/Ndoni Local Government Area of Rivers State. Though no life was lost in the explosion which occurred on Wednesday evening,…
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The Nigerian National Petroleum Company Limited (NNPC) Ltd has said that Nigeria has over 35 billion barrels of proven reserves of crude that are yet to be exploited. It stated that these reserves can be used to raise the required…
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Mele Kyari, GCEO, NNPC The Nigerian National Petroleum Company (NNPC) Limited weekend announced its intention to utilize the $3.3 billion loan obtained from the African Export-Import Bank to meet its operational needs and pay upfront…
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The Dangote Petroleum Refinery is to supply fuel to about 150,000 retail outlets operated by the Independent Petroleum Marketers Association of Nigeria, IPMAN, after a meeting between the management of the refinery and executives of…
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The Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mallam Mele Kolo Kyari, has stated that despite the attendant economic challenges, the removal of fuel subsidy has thus far liberated the…
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Energy giant Shell has committed to divesting its onshore oil and gas assets in Nigeria for $2.4 billion, indicating a strategic move away from onshore oil production. A consortium, led by the Nigerian independent energy firm…
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For the month of December, Nigeria’s average daily crude oil production reached 1.418 million barrels from the 1.31 million barrels recorded in the month of November. This represents an increase of 100 tb/d from what was recorded in…
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The recent uptick in Bonny Light oil prices to $79.08 per barrel, up from $76 per barrel over the weekend, brings a sense of optimism for the successful implementation of Nigeria’s 2024 budget. This surpasses the budget benchmark price…
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