Oil & Gas

NNPC considering extending AKK gas pipeline project to North Africa – GMD

Mar 19, 2019

The Group Managing Director of NNPC, Dr Maikanti Baru, says the corporation is considering the extension of Ajaokuta-Kaduna-Kano (AKK) gas pipeline project to Algeria to ensure African integration. Baru disclosed this in a statement issued by the corporation in Abuja on Wednesday. “The AKK gas pipeline to Algeria was in furtherance of its African integration…

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Shell says erosion of business environment may affect its Nigerian ops

Mar 19, 2019

The Royal Dutch oil firm, Shell, has said its operations in Nigeria’s oil industry could face adverse impacts if the business environment in Nigeria deteriorates. Shell which has considerable interests in Nigeria’s oil industry and operates mostly through its Nigerian arms – Shell Petroleum Development Company of Nigeria Limited (SPDC) and Shell Nigeria Exploration and…

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Study shows Nigerian, other consumers dump kerosene, gas as high prices persist

Mar 19, 2019

The relatively high prices of kerosene and cooking gas have compelled many households to take to increased utilisation of firewood in Nigeria. Investigation by Vanguard showed that while the price of kerosene currently stands at between N200 and N300 per litre, depending on location, the price of cooking gas stands at N4,000 (N12.5 kg), which…

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OPEC, allies will stabilise oil market – Saudi Minister

Mar 19, 2019

Saudi Arabia’s Energy Minister, Khalid Al-Falih, has said that member countries of the Organisation of Petroleum Exporting Countries (OPEC) and its allies led by Russia still have a lot of work to do to balance global oil markets, and are prepared to do what is necessary in this regards in the second half of 2019.…

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OPEC Sec-Gen says compliance with oil supply cut deal improving

Mar 18, 2019

OPEC Secretary General Mohammad Barkindo said on Sunday that compliance with a supply cut agreement between OPEC and non-OPEC members was improving, and that this would help the oil market to weather through the build up of oil inventories. “There is a remarkable improvement on the level of compliance,” Barkindo said. “The market will weather…

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58m litres of petrol supplied daily in December – NNPC

Mar 18, 2019

The Nigerian National Petroleum Corporation (NNPC) has said that 1.80billion litres of petrol, translating to 58.17m litres a day, were supplied in December 2018. The details of the product supply were captured in the corporation’s Monthly Financial and Operations Report for December, 2018. According to spokesman for the corporation Ndu Ughamadu in a statement explaining…

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OML 11 licence not revoked, NPDC to become operator May 2

Mar 18, 2019

The licence of a joint venture partner in Oil Mining Lease 11 has not been revoked as speculated but stakeholders are concerned about the recent presidential directive on the operatorship of the oil block, OKECHUKWU NNODIM reports The licence for Oil Mining Lease 11 has neither been revoked nor withdrawn from Shell Petroleum Development Company,…

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NNPC records 34% increase in pipeline breaches nationwide

Mar 18, 2019

There appears to be no let-up in the activities of vandals who in December last year pushed pipeline breaches across the Country by a whopping 34 percentage point, NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, stated this in a release Sunday in Abuja. Ughamadu said the upward swing in the breaches…

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Nigerians paid more for cooking gas, kerosene in February

Mar 17, 2019

The average price for refilling a five kilogramme (Kg) cylinder for Liquefied Petroleum Gas, otherwise known as cooking gas increased by 1.37 per cent (month-on-month) to N2, 067.68 in February 2019, compared to N2,039.82 recorded in January, according to the National Bureau of Statistics (NBS). But it decreased by -4.09 per cent, year-on-year when compared…

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PIB passage set to transform Nigeria’s oil industry – NNPC GMD

Mar 17, 2019

The Group Managing Director of the Nigerian National Petroleum Corporation, Dr Maikanti Baru, has said the passage of the four components of the Petroleum Industry Bill, which is expected to usher in a new legislation, will change the fortunes of the nation’s oil and gas sector for the better. Baru said the passage of the…

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