NNPCL, TotalEnergies Sign $550m Investment Deal for Ubeta Field Project The Nigerian National Petroleum Company Limited (NNPCL) and TotalEnergies JV have announced a $550 million final investment decision for the Ubeta Field Development Project. On Thursday, the duo signed the deal which is expected to yield...

FG Loses $90m Yearly To Lagos Airport Concession — Reps         The House of Representatives has said the federal government loses over $90 million annually due to alleged shady deals involved in the concession of the local and international wings of the Murtala Muhammed Airport, Lagos...

NNPC Sells N267bn Crude Oil, Maintains 1.42m bpd Output       The Nigerian National Petroleum Corporation (NNPC) sold crude oil worth N267.59 billion in February, while its total daily production stood at 1.42 million barrels per day in the first quarter of 2021, a document presented to...

NNPC Spends N1.53trn On JV Oil Assets, Priority Projects     The Nigerian National Petroleum Corporation spent a total of N1.53tn on oil and gas assets being developed through joint ventures with private firms as well as priority projects in 2020. The NNPC, which represents the Federal Government...

Nigeria Risks Losing 38% Deepwater Oil Output 2025 - Operators         The fiscal terms in the current Petroleum Industry Bill may lead to a 38 per cent reduction in Nigeria’s deepwater oil production in 2025, an industry group comprising international and indigenous oil firms in the...

NNPC Records N222.3bn Gross Revenue In November       The Nigerian National Petroleum Corporation (NNPC) recorded a gross revenue of N222.3 billion, excluding statutory and obligatory deductions in November 2020, latest figures from the national oil company have indicated. Documents presented by the corporation, detailing its activities to...