Category Archives: Oil&Gas

Aiteo ‘not behind protest on JTF’s role in illegal oil bunkering’

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OIL giant Aiteo and his Chief Executive Benedict Peters have rejected the allegation that they were behind the protest against the Joint Task Force (JTF) in the Niger Delta. With 90,000 kobp, the NNPC/Aiteo Joint Venture produces five per cent of Nigeria’s output. It issued a statement yesterday, denying allegations by the JTF leadership. The […]

NNPC to enhance operations June 3, 2018035 Share on Facebook Tweet on Twitter

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The Management of the Nigerian National Petroleum Corporation (NNPC) says it is fine tuning strategies to improve its position as a fully integrated national energy company. The Group Managing Director of the Corporation, Dr. Maikanti Baru, disclosed this at this year’s NNPC First Quarter 2018 Top Management Steering Committee (Steerco) Meeting held at the NNPC […]

NNPC remits Revenue Dues to Federation Account

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The Nigerian National Petroleum Corporation (NNPC) says it has been remitting all revenues accruing to it to the Federation Account. In a statement, the Group General Manager, Group Public Affairs Division of NNPC, Mr. Ndu Ughamadu, said the Group Managing Director of the Corporation, Dr. Maikanti Baru, gave the clarification when members of the Senate […]

Oil output dips on Nigeria’s, Venezuela’s outages

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  The oil output of the Organisation of Petroleum Exporting Countries (OPEC) fell to a 13-month low in May due to  Nigerian outages, declining Venezuelan production, and strong compliance with a supply-cutting deal, it was learnt yesterday. OPEC pumped 32.00 million barrels per day (bpd) in May, the survey found, down 70,000 bpd from April’s […]

 N1.4tn Fuel Subsidy: BudgIT Wants FG to Name Beneficiaries

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crude-oil

 BudgIT expresses dismay at the lack of accountability and transparency by the Federal Government and the Nigerian National Petroleum Corporation (NNPC) on the amount spent on subsidy in 2016, 2017 and the first quarter of 2018. It is in the interest of the public that detailed information of the amount spent on fuel subsidies such […]

Rivers State , Shell Nigeria Gas sign MoU on gas supply to industries

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The Rivers State Government and Shell Nigeria Gas (SNG) have signed a Memorandum of Understanding (MoU) for the distribution of gas to industries operating in Port Harcourt area and its environs. The MoU sets out broad terms and conditions to guide co-operation between the two parties in the development of new gas distribution opportunities in […]

NNPC to build 4,600mw power plants in Abuja, Kaduna, Kano

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The Nigerian National Petroleum Corporation, NNPC, yesterday, said it is partnering with private investors to build power generating plants with combined capacity of 4,600 megawatts, MW, power plants in Abuja, Kaduna and Kano states. ADVERTISING The NNPC in a statement issued in Abuja, also stated that it had directed all its depots nationwide to stop […]

Price of cooking gas jumps by 21% in November

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The average price of Liquefied Petroleum Gas (Cooking Gas) rose by 21.16 percent, year-on-year in November. Also the average fare paid by commuters for bus journey within the city and intercity increased by 7.51 percent and 14.78 percent, respectively, month-on-month. OML 34 However, the average price paid for petrol, diesel and kerosene dropped by an […]

Fuel queues return to Lagos, persist in Abuja, others …as oil workers begin strike today

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The lingering petrol scarcity in many parts of the country grew worse on Sunday in Lagos, Abuja, Nasarawa, Kaduna and Niger states as many filling stations were shut. The closure of the filling stations followed threats by members of the Petroleum and Natural Gas Senior Staff Association of Nigeria to embark on a nationwide strike […]

No basis for SEC’s forensic audit, says Oando

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Oando Plc has said there is no basis for the institution of a forensic audit of the company by the Securities and Exchange Commission. The company said in a statement on Sunday that it had continued in its legal battle with SEC on the regulator’s alleged findings and sanctions following an investigation into the oil […]