IOCs To Remit N400bn Oil Debt For July – NNPC   Five international oil companies operating in Nigeria’s oil and gas sector are to remit an outstanding balance of about N400bn to the Federation Government through the Nigerian National Petroleum Company Limited this July. Figures on April...

Oil Firms Not Drilling Except NNPC - Kyari   The Group Managing Director, Nigerian National Petroleum Company Limited, Mele Kyari, on Tuesday announced that the decline in the funding of oil investments had virtually led to a halt in the drilling of crude oil by operators...

Fuel Scarcity, Hike In Diesel Price Due To Moribund Refineries - Kyari   Group Managing Director of Nigerian National Petroleum Company Limited (NNPC) Mr Mele Kyari, has attributed the current fuel scarcity and hike in the price of diesel to the non functional nation’s refineries. He...

FG Spends N1.243trn Monthly As Fuel Subsidy Hits N600/litre   The amount spent as subsidy by the Federal Government on every litre of Premium Motor Spirit, popularly called petrol, consumed in Nigeria is currently above N600, oil sector operators stated on Sunday. Also, the latest PMS evacuation...

FG Expects Dangote Refinery To Take Off Q1, 2023   The Nigerian National Petroleum Corporation (NNPC) expects the Dangote Refinery project to take off in the first quarter (Q1) of 2023, its Group Managing Director Mele Kolo Kyari said on the sidelines of the World Gas...

Nigeria Loses N2.2trn Revenue To Crude Production Delays In One Year   Nigeria lost a whopping N2.1 trillion as a result of crude oil production deferment in one year. The 2021 statistics from the Nigeria Extractive Industries Transparency Initiative (NEITI), said the huge loss was recorded in...