September 22, 2022
Nigeria: Robust Security Infrastructure Will Tackle Oil Theft, Says Expert
In view of the massive vandalism and rising cases of oil theft in Nigeria's oil producing region, the Director of Operations, PPC Limited, Dr. Patrick Ede, has advised the federal… Read more »
Nigeria: PIA Won't Solve Oil Industry Challenges Without Addressing Crude Theft - Senate
The Senate has said the current massive oil theft in the country, if not immediately curbed could frustrate the implementation of the Petroleum Industry Act (PIA) passed in to law… Read more »
September 20, 2022
Nigeria: Portugal Says It May Face Shortages Next Winter If Nigeria Defaults On LNG Delivery
Portugal could face supply problems this winter if Nigeria does not deliver all the Liquefied Natural Gas (LNG) it is due to, the European Union (EU) country's Environment and… Read more »
Nigeria: N3.4trn Needed to Subsidise 66m Litres Daily Consumption of Petrol Per Annum - Kyari
The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mr. Mele Kyari, yesterday disclosed that the sum of N3.4 trillion was required… Read more »
September 19, 2022
Nigeria: N621bn NNPCL Tax Credit, Sukuk to Help Tackle Road Funding Challenges in 2023 - Fashola
The Minister of Works and Housing, Mr Babatunde Fashola (SAN) at the weekend assured that with the N621 tax credit scheme made available by the Nigerian National Petroleum Company… Read more »
September 13, 2022
Nigeria: Nigerian Govt Lacks Willpower to Confront Daring, Sophisticated Oil Thieves - Report
A report by Proshare, a market intelligence and data analytics firm, has said that oil theft persists in Nigeria because all the institutions of state lack the will and… Read more »
Nigeria: The Economist - Nigeria Missing Out On Rare Global Oil Boom Opportunity
Nigeria has continued to waste the rare opportunity presented by the global rise in oil prices to grow its economy like other oil-producing countries, London-based The Economist… Read more »
September 12, 2022
Nigeria: Prosecute Oil Thieves, Senate Appeals to Military, Security Chiefs
The leadership of the Senate on Monday asked heads of military and security agencies in the country to start prosecuting suspected members of the public who are involved in oil… Read more »
Nigeria: Nigeria's $15.7bn 2022 Fuel Subsidy Projection to Exceed All 36 States' Budget - Report
With Nigeria's petrol subsidy bill skyrocketing in 2022, the estimates for the whole year would exceed the total expenditure by all the states of the federation in 2021, which was… Read more »
Nigeria: Evacuation Constraint Has Halted Oil Production, Storage Tanks Now Full to Brim, PENGASSAN Laments
In a fresh revelation, oil workers under the aegis of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) have declared that oil companies have been forced to… Read more »
September 11, 2022
Nigeria: NNPCL Loses $700m Monthly to Crude Oil Theft
The Nigerian National Petroleum Company Limited (NNPCL) said the impact of crude oil theft has been affecting its performance, disclosing that it loses 470,000 barrels per day… Read more »
September 09, 2022
Nigeria: Nigeria's Oil Industry Headwinds Worsen, Production Drops to Record Low, 972,394
Nigeria's oil sector challenges appear to be worsening, with production hitting a record low of 972,394 barrels per day in August, according to data obtained from the Nigerian… Read more »
September 08, 2022
Nigeria: Oil Price Drops to Seven-Month Low On China Lockdown, Recession Fears
Crude oil prices fell yesterday to their lowest since before Russia invaded Ukraine as COVID-19 curbs in top crude importer China and expectations of more interest rate hikes… Read more »
Nigeria: Oil Workers Begin Nationwide Rallies Against Massive Oil Theft Today
Oil workers in Nigeria yesterday declared that they would begin nationwide rallies today in protest against the current massive theft of the country's crude oil and destruction of… Read more »
Nigeria: Nigeria May Begin Supply of More Gas to Europe By March 2023, Says Sylva
Nigeria will be able to send more Liquefied Natural Gas (LNG) to Europe by next winter, Minister of State , Petroleum, Timipre Sylva said on Wednesday at the Gastech conference in… Read more »
Nigeria: Local Oil Refiners Seek CBN, NNPC's Intervention to Address Funding, Feedstock Challenge
Indigenous oil refiners under the aegis of Oil Refiners Association of Nigeria (CORAN) have appealed to the Central Bank of Nigeria (CBN) to create crude refinery intervention fund… Read more »
September 06, 2022
Nigeria: Renewed Fight Against Crude Oil Theft Has Denied Criminals N30bn Stolen Products - Navy
The Nigerian Navy's renewed fight against crude oil theft through the ongoing Operation Dakatar Da Barawo has denied criminals over N30 billion stolen products from illegal… Read more »
Nigeria: Again, Nigeria Loses 7.56m Barrels of Crude Oil to Shut-Ins, Facilities' Failures, Others
The Nigerian economy continued to bleed from shut-in of crude oil production as a result of vandalism, workers' strikes, depreciating upstream infrastructure as well as force… Read more »
September 05, 2022
Nigeria: Nigeria's Average Daily Petrol Supply Is 68 Million Litres, NNPC Clarifies
In response to the alleged inflation of petrol imports and consumption in Nigeria, the Nigerian National Petroleum Company (NNPC) Limited has insisted that average petrol supply in… Read more »
Nigeria: Why PIA Implementation Will Reduce Revenues to States, Local Govts By 15% - Kachikwu
A former Minister of State, Petroleum Resources, Dr. Ibe Kachikwu, has urged Nigerians to prepare for the immediate impact of the implementation of the Petroleum Industry Act… Read more »
September 02, 2022
Nigeria: Osinbajo Meets World Bank President in Washington, Seeks Support to End Petrol Subsidy, Others
The World Bank Group President, David Malpass yesterday met with Vice President, Prof.Yemi Osinbajo as part of efforts to seek the multilateral institution's support to end petrol… Read more »
September 01, 2022
Nigeria: Govt Misses Oil Revenue Target, Generated N799.10bn in Q1 - Central Bank
The Central Bank of Nigeria (CBN) yesterday disclosed that the country generated a total of N799.10 billion in crude oil sales in the first quarter of the year (Q1 2022). Read more »
August 30, 2022
Nigeria: NLNG Restates Commitment to Nigerian Content in Its Operations
The Nigeria Liquefied Natural Gas (NLNG) Limited has reiterated its commitment to ensuring that Nigerians benefit maximally from all its operations by going beyond mere compliance… Read more »
Nigeria: Nigeria's Naval Chief Disputes NNPCL, Petroleum Ministry's Oil Theft Figures
Nigeria's Chief of Naval Staff (CNS), Vice Admiral Awwal Gambo, yesterday disputed oil theft figures from the Nigerian National Petroleum Company Limited (NNPCL) and the ministry… Read more »
August 29, 2022
Nigeria: Reviving Oil Palm As Major Foreign Exchange Earner
The ban of crude palm oil and its derivatives exports by Indonesia, the world's largest supplier of the commodity, should be music to the ears of investors in that line of business… Read more »