FG Owes Oil Marketers Over $2b Subsidy The Federal Government is owing oil marketers over $2 billion in subsidy claims, Major Oil Marketers Association of Nigeria (MOMAN)  has said. It’s out-going Executive Secretary, Obafemi Olawore, lamented that the development has forced many marketers to shut operations...

NNPC, Shell Still Negotiating $10b Bonga contract   Royal Dutch Shell and its partners will decide next year on whether to go ahead with the development of Nigeria’s Bonga Southwest offshore oilfield, it was gathered yesterday. Managing Director, Shell Nigeria Exploration and Production Company, Bayo Ojuli, told...

Oil Sector Loses 754,000bpd To Pipeline Vandalism - NNPC   Nigeria’s oil sector is estimated to have lost over 754,000 barrels per day (bpd) in February, to production shut-in occasioned by pipeline vandalism, according to the latest monthly financial report of the Nigerian National Petroleum Corporation...

Nigeria Committed to Midwifing Gas-Driven Industrialization The Oil and Gas Industry is creating an enabling environment that would enable investors to contribute their quota towards making Nigeria’s abundant natural gas resources serve as launching pad for the nation’s industrialization take off. Minister of State for Petroleum...

Nigeria Targets 10% Global LNG Market … As Nigeria is set to become Regional Gas Hub As part of its strategic aspirations to derive maximum value from Nigeria’s abundant natural gas resources, the Federal Government is targeting 10 per cent of the world’s market share in...

NNPC: N547bn Lost In 3years   The group monetary loss of the Nigerian National Petroleum Corporation for 2015, 2016 and 2017 is N547bn, the latest review of the oil firm’s financial and operations reports in the period has revealed. According to the review, which was done by...