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The Nigerian National Petroleum Corporation (NNPC) said it met its financial obligations to the Federation Account in 2018 by remitting N1.26 trillion as against the N1.22 trillion projected in the 2018 budget, recording a surplus of…
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There is increasing global competition on Nigerian crude oil due to the rise of new production centers across the globe particularly in Africa, and Argentina, Dr. Maikanti Baru, the Group Managing Director of the Nigerian National…
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The Federal Government has declared May 29 and June 12 as national holidays. Minister for Information and Culture, Alhaji Lai Mohammed who made the declaration, also said the May 29 Inauguration Day would be a…
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…Reports 168% conformity rate to cuts in April Following the 14th meeting of its Joint Ministerial Monitoring Committee, JMMC, on Sunday in Jeddah, Saudi Arabia, the Organization of the Petroleum Exporting Countries, OPEC, reaffirmed…
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Nigeria lost $64.05 million, an equivalent of N19.6 billion, to gas flaring in one month, as oil and gas firms operating in the country flared 18.30 billion Standard Cubic Feet (SCF) of gas in January 2019, according to data obtained from…
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The National Bureau of Statistics (NBS) released Nigeria’s Q1-19 GDP numbers on Monday as Nigeria recorded an output growth of 2.01 percent year-on-year (y/y). However, oil sector contraction dragged down the GDP. This is slower than…
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Despite President Muhammadu Buhari’s reported unwillingness to allow for private investments through equity shareholding into the refineries in Kaduna, Warri, and Port Harcourt, key agencies of the government are actually in support of…
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Contrary to a widely held view that the manufacturing of electrical cars will shrink the crude oil market, Nigeria’s black gold will remain relevant and profitable almost forever, a Professor of Petroleum Engineering has said. Prof Babs…
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Oil prices appreciated as much as one per cent yesterday after Saudi Energy Minister Khalid al-Falih indicated there was consensus among OPEC and allied oil producers to continue limiting supplies. Also, Nigeria’s oil minister said he…
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An unidentified whistle-blower who exposed an account with $223m (N80.2bn) belonging to the Nigerian National Petroleum Corporation (NNPC) has accused the office of the Attorney-General of the Federation of withholding his rightful…
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