NNPC Increases Sales Prices For Crude Oil   The Nigerian National Petroleum Corporation has raised December official selling prices for several of the nation’s crude oil grades. Reuters reported that price differentials for Nigerian light sweet grades continued at multi-year highs even as official selling prices published...

Oil Worth $42bn Stolen Ten Years - NEITI   Crude oil and refined products worth $41.9bn were stolen from Nigeria in the last 10 years, the Nigeria Extractive Industries Initiative has said. NEITI also urged the government to embrace oil fingerprinting technology, comprehensive metering infrastructure of all...

No Crude Processed In Nigerian Refineries In One Month     The combined yield efficiency of Nigeria’s refineries has crashed to zero, the latest report on the performance of the facilities has shown. Nigeria’s refineries are the Warri Refining and Petrochemical Company, Kaduna Refining and Petrochemical Company, and...

NPDC, FHN Lose $29m Crude To Oil Theft   An oil block, Oil Mining Lease 26, jointly owned by the Nigerian Petroleum Development Company and First Hydrocarbon Nigeria Limited has come under attacks by oil thieves, the technical partner has said. The Asset Management Team for OML...

Crude Oil Demand’ll Remain High Beyond 2040, Says Kyari   The Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, has said that fossil fuel will remain relevant in the global energy mix for decades to come. He said contrary to assumptions in some quarters,...

Aiteo Pipeline Closure Threatens Nigeria’s Oil Exports   Exports of Nigeria’s Bonny Light crude have been under force majeure following the closure of the Nembe Creek Trunk Line, one of the major crude oil transportation channels used for export. The NCTL, which is 100 kilometres long and...