Valuechain - Nigeria's foremost Online Energy News Platform

Economies are opening up, however, the recovery is gradual and will take some time for oil prices to hit pre-COVID-19 levels. After months of dwindling demand and fluctuations in crude oil prices, which had crashed below $0 at a point,…
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The Nigerian National Petroleum Corporation, NNPC, has said lack of production from the country’s four refineries is due to ongoing rehabilitation works on the facilities. The explanation came since the refineries had not refined a…
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The President, Independent Petroleum Marketers Association of Nigeria (IPMAN), Mr. Chinedu Okoronkwo said on Sunday that members have started buying Premium Motor Spirit (PMS) also known as petrol at N108 ex-depot price as announced by…
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Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mele Kyari, has debunked reports that Nigeria has shut in its oil production as a result of the current market situation. He made the clarification in an…
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Nigeria’s ambitious liquefied national gas project, the NLNG Train 7 has run into a new obstacle namely falling global demand. The $12 billion project, which has faced several years of delay is expected to complement the existing…
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A total of 253.09 Billion Cubic Feet (BCF) of natural gas was produced in January 2020 translating to an average daily production of 8164.23 Million Standard Cubic Feet per Day (mmscfd). The Nigerian National Petroleum Corporation…
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Total said Tuesday its quarterly profit fell by 99 percent because of dropping oil prices and announced it would slash investments in response to the ongoing turmoil in crude markets. The French oil major reported a net profit of $34…
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For a proper and effective transition to a non-subsidy regime, Petroleum Industry governance experts say the Federal Government of Nigeria must hasten the procedural steps in giving legal backing to the initiative while ensuring it hastens…
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The United States cut its imports of Nigerian unrefined petroleum by 60.37 percent to 1.93 million barrels in January this year, contrasted with the 4.87 million barrels purchased around the same time in 2019.  Most recent information…
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Nigerian crude differentials showed more signs of recovery from record lows on Thursday, reflecting a wider rebound in the market on hopes of stronger demand, according to a market report from Reuters. Qua Iboe was on offer at dated…
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