FG Targets Additional 810,000bpd Crude from Deepwater Fields
The Federal Government has unveiled plans to unlock an additional 810,000 barrels of crude oil per day from Nigeria’s deepwater oil fields through a new cluster and nodal development initiative.
The initiative, championed by the Nigerian Upstream Petroleum...
NNPC Refineries Could Be Permanently Shut Down - Dangote
The President of the Dangote Group, Alhaji Aliko Dangote, has doubted the possibility of the state-owned Port Harcourt, Warri, and Kaduna refineries functioning again.
Dangote also stated that the refineries, which are under the management of the...
How States Obtained N26.31bn Excess Crude Account Loans
State governments have acquired about N26.31bn loans from the Excess Crude Account facility, which is meant for implementing development and infrastructural projects.
Findings showed that a total of about N183.1bn excess crude account facility deposit sits in the...
FG Says 23 Oil Blocks Failed to Produce Crude
No fewer than 23 oil blocks managed by both international and local oil companies, which are under crude oil Production Sharing Contracts with the Nigerian National Petroleum Company Limited (NNPCL) failed to produce crude or were...
Fed Govt Loses N1.9trn To Oil Theft In July
Crude oil theft may have cost the country a whopping N1.9tn revenue loss in July.
The estimation was arrived at following a pronouncement by the National Security Adviser, Nuhu Ribadu, last week when he led a presidential...
Petrol Price Rises By 20% Globally
Price of petrol may to rise further as international market data revealed that the commodity has gained 20 per cent.
At the beginning of 2023, Brent crude traded around $78 per barrel. However, last week, the international benchmark hit $83...
