UBA Boosts Nigeria’s Oil Production With $200m Facility     The United Bank for Africa Plc (UBA) has announced a $200 million facility support to boost Nigeria’s crude oil production capacity. The facility is part of a $1.5 billion Pre-Export Finance Facility provided by consortium of Nigerian commercial...

Another NNPC Ex-GMD Dies Within Three Months     The Nigerian National Petroleum Corporation on Monday announced the demise of its former Group Managing Director, Dr Joseph Dawha. Dawha is the second ex-GMD of the national oil firm to have passed on in the last three months, as...

FG Moves To Reduce Oil Production Cost To $10     The Federal Government is working towards attaining a $10 per barrel production cost sealing in the oil and gas sector, the Minister of State for Petroleum Resources, Chief Timipre Sylva, has said. Sylva, who stated this yesterday...

Reps Summon NNPC, NAPIMS, Others Over $16.5m Debt     The Nigeria National Petroleum Corporation (NNPC) and multi-national oil company, Agip, yesterday failed to appear before the House of Representatives Committee on Petroleum Upstream over an alleged failure of Agip to pay a $16.5 million debt to...

Nigeria To Deliver 5GW Of Electricity By 2022 - NNPC     With the kick-off of the construction of a number of gas projects, particularly some major pipelines, the Nigerian National Petroleum Corporation (NNPC), said it will deliver about 5GW or 5,000 megawatts power by 2022. Since the...

NNPC Strikes $1.5bn Oil-for-loan Deal With Traders   The Nigerian National Petroleum Corporation has signed a $1.5bn prepayment deal led by Standard Chartered and backed by two oil traders, Vitol Group and Matrix Energy, Reuters reported on Tuesday. Quoting sources said to be close to the development,...