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Tag Archives: NNPC

Crude production freeze imminent as Nigeria crosses OPEC’s 1.8mbpd limit

OPEC Ibe kachukwu

The Nigerian National Petroleum Corporation (NNPC) is now stocked between two challenges. Details from OPEC report, released weekend said Nigeria’s crude oil production has consistently increased from the 1.511 million bpd in first quarter of this year; 1.616 million bpd in second quarter to 1.710 mpbd in June and 1.723mbpd in July.Whereas the first is cutting short the joy of ...

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Again, NNPC makes U-Turn on planned sale to repairs of 3 refineries

NNPC Maikanti Baru

A close surveillance on the official utterances of the Nigerian National Petroleum Corporation (NNPC) on its plans for the three ageing refineries since this has shown policy summersaults for three times. First was when the federal government planned to sale off the national assets along with the Nigerian Liquefied Natural Gas (NLNG) which was met with stiff opposition by Nigerians. ...

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Fear of N’Delta hostilities hanging planned licensing of marginal oil fields

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Signals emerged Tuesday in Abuja that the planned oil blocs licensing rounds for marginal oil fields by the federal government may have been boxed to a tight corner due to fears of possible uprising from the Niger Delta should reasonable blocs fail to go to the way of their communities and big whips in the region. The Ministry of Petroleum ...

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Shell lights up Lagos, inks $300m gas saturation understanding with firm

Shell Logo

Indications that crash of high price and associated scarcity of natural gas around Lagos have emerged as Royal Dutch Shell has sealed a deal with Shoreline Energy Group to develop, market and distribute the product across the state. The agreement, valued at $300 million, can be described as the latest example of global energy groups investing in terminals, pipelines and ...

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Over half of nation’s daily oil production lost to militancy—Minister

militants-and-buhari

Contrary to speculations that attacks on oil installations have waned, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has traced loss of more than 54 per cent of crude oil to attacks and pipeline vandalism in oil communities. Explaining issues during a recent mid-term review of the activities of the ministry between August 2015 and August 2017 through ...

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Fresh indices point to chances of selling nonperforming refineries by NNPC

Ibe K

The growing show of poor performance by refurbished refineries has become a leeway for the Nigerian National Petroleum Corporation (NNPC) to continue to press for their sales to private operators. Latest monthly oil and gas sector report has shown that the combined performance of the refineries, with respect to capacity utilisation, has dropped by 44.87 per cent. Figures from the ...

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20-year gas sale aggregation deal with Total, others’ll grow domestic use

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Energy analysts have started weighing the imports of the recent pact sealed between the Nigerian National Petroleum Corporation (NNPC), Total Exploration and Production Nigeria, Gas Aggregation Company of Nigeria (GACN) and Greenville LNG Limited on the 20-year Gas Sale Aggregation Agreement (GSAA). Business Hilights gathered that the deal will see trucks and other machinery that hitherto ran on diesel being ...

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Oil fields bid: Issues that suffered during Buhari’s vacation receive attention

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More issues that tactically suffered official attention while President Muhammadu Buhari was away on medical vacation are beginning to receive treatment. Just as the report on the embattled Secretary to the Federal Government (SFG), David Lawal, was the first to get the needed attention earlier last week, weekend, the Nigerian National Petroleum Corporation (NNPC) signaled the readiness of the government ...

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Need for review of fine on gas flaring reechoes as FG loses N96bn in 5 months

gas flaring

Africa Environmental & Economic Peace Mission (AEEPM), weekend said it may approach a Federal High Court to seek for immediate review of the nation’s penalty regime on gas flaring. This is in response to the recent revelation of an estimated loss of N95.8bn from a total of 108.91 billion standard cubic feet of natural gas in the first five months ...

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Shell still occupied as NNPC, IOCs join forces against oil, gas sabotage

Shell logo

Even though community members of Kula and Belema oil communities are still playing hostage to Shell facility in their domain in Rivers State since last week, the Nigerian National Petroleum Corporation (NNPC) has said it is working closely with international oil companies (IOCs) to introduce world class structured security system in strategic installations to tame incidences of sabotage and facility ...

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