Upon NNPC claims of excess reserves, fuel scarcity surfaces in Lagos, others
Ahead of Monday, December 11, given by the Independent Petroleum Marketers Association of Nigeria (IMPAN), as resumption date for shut down of members petrol stations in Lagos and parts of Ogun State, serial fuel scarcity is being experienced in parts…
FG yet to complete forensic audit of NCC, Customs accounts
The Minister of Finance, Mrs. Kemi Adeosun, has revealed that the accounts of two major revenue generating agencies of the government including the Nigerian Communications Commission (NCC) and Nigerian Customs Service (NCS) are still outstanding and yet to be audited….
Marginal fields: Interest rate pushing local investors to offshore loans
Prospective local investors wishing to be part of the planned marginal oil fields bid rounds billed for next year, have started making contacts with foreign financial services firms for access to low interest credits. Indications to this emerged from in…
SNEPCo sees good future on Nigeria’s deepwater explorations
Leading investor in Nigeria’s deepwater oil and gas giant, Shell Nigeria Exploration and Production Company (SNEPCo), has reviewed the industry’s 2017 outlook and said deepwater space in Nigeria’s petroleum industry remains attractive. The Managing Director, Mr. Bayo Ojulari, who spoke…
OPEC deepens Nigeria’s economic recovery by staying oil cut exemption
A star indications that Nigeria’s economy is set to sustain recovery from recession emerged Friday following the meeting of the Joint Ministerial Monitoring Committee of the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC members which ended in Vienna with…
Desperation forces FG to begin oil search in Sokoto basin
As part of the strategic efforts of the federal government and northern leaders to force the region into the league of oil economy at all cost, the Nigerian National Petroleum Corporation (NNPC), Wednesday, said it has shifted search for crude…
Crude production freeze imminent as Nigeria crosses OPEC’s 1.8mbpd limit
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…
Again, NNPC makes U-Turn on planned sale to repairs of 3 refineries
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…
Fear of N’Delta hostilities hanging planned licensing of marginal oil fields
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…
Shell lights up Lagos, inks $300m gas saturation understanding with firm
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,…
