January 24, 2023
Nigeria: Board Chair - NNPC Fails to Stop Ararume's N100bn Case Against Unlawful Removal
The Nigeria National Petroleum Company Limited (NNPCL) yesterday failed to halt hearing in a N100 billion suit instituted against President Muhammadu Buhari over the alleged… Read more »
January 17, 2023
Nigeria: Seven Deep Offshore Mini-Bid Winners to Be Announced in Next Four Months - NUPRC
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday announced that in the next four months, winners of the mini-bid for deep offshore licensing round would be… Read more »
Nigeria: Nigeria's Projected Crude Oil Production Short By 283m Barrels, $24.5bn Revenue in 2022
Nigeria's crude oil production when put side by side its expected output of 1.88 million barrels per day in 2022, was short by a whopping 283 million barrels, amounting to roughly… Read more »
January 16, 2023
Africa: Kyari Foresees Sustained Rise in Oil Demand With Economic Growth in Africa, Reopening in China
*Says Nigeria planning output hike to feed revamped refineries Read more »
January 15, 2023
Nigeria: Oil Theft - Investigative Panel Vows to Expose Perpetrators
The Chairman of the Special Investigative Panel on Crude Oil Theft/Losses, Maj Gen Barry Ndiomu (rtd), has said that the panel will not be afraid to identify and expose those… Read more »
December 29, 2022
Nigeria: Inflation, Low Oil Production Bane of Nigeria's Economy in 2022
Ugo Aliogo examines the effect of inflation and low oil production on the Nigerian economy, among other developmental issues that shaped the year 2022 Read more »
December 28, 2022
Nigeria: Return of Chinese, India's Appetite for Nigerian Crude Key to Oil Price Stability in 2023 - Report
The return of Chinese and Indian appetite for Nigeria's and other West African countries' crude oil grades could to some extent play a critical role in determining the price of the… Read more »
December 24, 2022
Nigeria: Oil Spills - Shell Set to Pay $16M Compensation to Niger Delta Farmers
Shell Petroleum Development Company (SPDC) yesterday announced that it would pay €15 million to farmers in three Niger Delta communities as compensation for damages to their… Read more »
December 27, 2022
Nigeria: Nigeria Underproduced 2022 Crude Oil Projection By 263 Million Barrels in 11 Months
-Data show country barely drilled 60% of 1.88 million bpd budget benchmark Read more »
Nigeria: 2022 - Underwhelming Year for Nigeria's Oil, Gas Industry
Marked by huge challenges, the outgoing year was one in which the oil and gas industry in Nigeria failed to impress on all fronts... well, almost. Read more »
Nigeria: As Fuel Scarcity Bites, Air Fares Jump 97%, Bus Prices Rise 45% in One Year
With petrol scarcity biting hard and aviation fuel prices skyrocketing, Nigerians paid as much as 97 per cent more to fly locally, while the fare paid by citizens for bus transport… Read more »
December 23, 2022
Nigeria: Atala's OML46 - Senate Asks NUPRC to Reallocate Licence to Hardy Oil, Others
The Senate yesterday faulted the revocation of Atala Marginal Oil Field (OML 46) in February 2020, by the defunct Department of Petroleum Resources (DPR), now Nigerian Upstream… Read more »
December 22, 2022
Nigeria: House to Probe Alleged Loss of $2.4bn From Illegal Sale of 48 Million Barrels of Crude
The House of Representatives has resolved to constitute an Ad-hoc committee to investigate a whistle-blower's allegations of the illegal sale of 48 million barrels of Nigeria's… Read more »
Nigeria: 15 Years After, NUPRC Announces Bid for Seven Deep Offshore Oil Assets
Fifteen years after it last put up about 45 deep offshore assets for public bidding, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), yesterday announced that the… Read more »
December 20, 2022
Nigeria: Nigeria's Oil Rigs Count Slumps 50% in Three Years
The latest Monthly Oil Market Report (MOMR) by Organisation of Petroleum Exporting Countries (OPEC) has revealed that Nigeria's oil rigs count fell from 16 to eight between 2019… Read more »
December 08, 2022
Nigeria: OML 130 - Group Alleges Plans to Violate Local Content Laws, Inflate Rig Cost
The South-South Reawakeing Group (SSRG) has accused the Nigerian National Petroleum Company Limited (NNPC) and its partner, TotalEnergies Upstream Nigeria Limited of allegedly… Read more »
Nigeria: Nigeria's NNPC Funded Chevron Asset Purchase With Aid of Family Firm - Report
One of Nigeria's wealthiest families, Sayyu Dantata, funded the Nigerian National Petroleum Company Limited (NNPC) purchase of oil blocks from Chevron Corporation, offering an… Read more »
December 07, 2022
Nigeria: More Boost for Nigeria As Oil Production Rises to 1.6mbpd
Nigeria is speedily recovering from the months of under-production with oil production at 1.59 million barrels per day as of yesterday, according to the Nigerian National Petroleum… Read more »
Nigeria: Nigerian Content in Oil, Gas Industry Hits 54% in 2022
Mid-way into a 10-year Strategic Road Map for enhanced indigenous participation and utilisation of local assets in oil and gas operations, industry regulator Nigerian Content… Read more »
December 06, 2022
Nigeria: Navy Denies Indicting NNPC On Oil Theft Figures, Says Both Bodies Working to Curb Menace
The Nigerian Navy (NN) has denied accusing the Nigerian National Petroleum Company Limited (NNPC) of insincerity and exaggeration of oil theft figures as reported in a national… Read more »
December 02, 2022
Nigeria: Black Market Operators Make Brisk Business As Petrol Scarcity Lingers in Lagos, Others
The current nationwide scarcity of petrol which has been on for over a month has put black marketers in a profitable mode as they are now making brisk business by cashing in on the… Read more »
November 30, 2022
Nigeria: In Face of Oil Theft, CBN's RT200 Initiative Records $4.987bn Inflow
The Central Bank of Nigeria's (CBN) RT200 (Race to $200 billion forex inflows), which is an initiative that aims to boost non-oil exports has recorded $4.987 billion forex inflows… Read more »
November 29, 2022
Nigeria: Inflation - Diesel Prices Rise By 215%, Gas 70.6 %, Petrol 17% in One Year
Nigerians continued to grapple with growing energy prices caused by the challenges in the global oil and gas industry, the Russia-Ukraine war as well as local distortions in… Read more »
November 27, 2022
Nigeria: NNPC, Major Marketers Intensify Collaboration to End Fuel Scarcity
The Major Oil Marketers Association of Nigeria (MOMAN) and the Nigeria National Petroleum Company (NNPC) Limited have intensified collaboration to end the current nationwide… Read more »
Nigeria: Will Kolmani Oil Field Change Nigeria's Story?
IN THE ARENA Read more »