Baru owes Nigerians explanations on where he is in reviving refineries—Stakeholders
Experts in the petroleum industry who discussed way forward at the Nigerian Petroleum Industry Summit in Abuja on Monday have called for clearer explanation on how far the Federal Government has gone through the Nigerian National Petroleum Corporation (NNPC) in…
Non-evacuation of electricity causing shut-in of gas producer wells—NNPC decries
Fresh reason has emerged as to why on a daily basis, over 500 million standard cubic feet of gas were being shut in by producers in the industry. The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr…
10 year wait for Final Investment Decision on Train 7 coming to end soon—NNPC
The Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru has given fresh indication that the log wait for Final Investment Decision (FID) on Train 7 which had been on since 2008 would soon be over. Business…
Delay in deepwater projects may dominate discussions from today at SPE Lagos
As the 2018 Society of Petroleum Engineers (SPE) conference kicks off today in Lagos, there are strong indications the ongoing delays in the final investment decisions on seven offshore deepwater oilfield projects in the country. Before now, industry experts say…
NNPC lists 4 key issues slowing investments in oil and gas sector at NOG 2018
…As conference ends today in Abuja The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru has made public, current major challenges frustrating inflow of the much needed investments in the industry. Baru, who spoke at…
FG reduces gas flare to 10%, steps up gas utilization, monetization—NNPC
Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru has disclosed that the federal government is targeting 10 per cent of the world’s market share in traded Liquefied Natural Gas (LNG) as it intensifies gas capturing,…
FG rolls over crude-for-products swap deals till December as under-recovery surges
…Seals $3bn fresh industry deal in Vienna At a time under-recovery payments (subsidy) are rising on a daily basis, the Federal Government has extended its crude for oil products swap contracts by six months, meaning that deal stands till year…
Fuel price hike imminent as petrol landing cost exceeds N171 per litre
Under normal circumstances, especially if the nation is not approaching a general election, indications are rife that the economy would have been in a serious fuel since the gradual rise in crude oil prices due to jumping landing costs of…
NNPC set to redeem N2.1bn owed NPA before end of this week
All debts owed the Nigerian Ports Authority (NPA) by the Nigerian National Petroleum Corporation (NNPC) between 2017 to date, amounting to about 2.1 Billion Naira for services rendered to the Corporation are to be settled this week. This is coming…
How FG failed in its promise to unbundle NNPC, institute periodic balance sheet display
The sustained deficit financial results so far recorded by the Nigerian National Petroleum Corporation (NNPC) in the last three year may continue unabated if strategic reforms or signing into law the recently passed Petroleum Industry Governance Bill (PIGB) in law….
