Oil Exploration: NNPCL To Boost Reserves To 50 Billion Barrels   The ongoing oil exploration in Nigeria’s frontier basins is to grow the country’s crude oil reserves from 37 billion barrels to 50 billion barrels, the Nigerian National Petroleum Company Limited (NNPCL) announced on Tuesday. NNPC also...

Reactions as NNPCL Hires Expatriate to Head Subsidiary The Nigerian National Petroleum Company (NNPC) Limited has hired a former vice president of the Abu Dhabi National Oil Company (ADNOC), Jean-Marc Cordier, to head its oil trading arm, NNPC Trading Ltd. The appointment of Cordier has raised...

Fuel Consumption Rises to 80million litres Daily as Subsidy Skyrockets - Report The consumption of Premium Motor Spirit, popularly called petrol, has risen to about 80 million litres daily, pushing up subsidy on the commodity to an estimated N484bn monthly, according to latest figures from...

Eroton: MD Insists Firm Remains OML 18 Operator Eroton Exploration and Production Company Limited, has insisted that it remained the operator of OML-18 in line with the provisions of the Joint Operating Agreement. It was recently reported that the non-operating joint venture partners of Oil Mining...

NNPCL Distributes 339m Litres of Petrol in One Week  The Nigerian National Petroleum Company Limited has revealed that a total of 339 million litres of petrol was distributed to 63 depots across the country in one week. Data obtained from the Nigerian Midstream and Downstream Petroleum...

OML 18: NNPCL, JV partner Dismiss Eroton as Operator The non-operating joint venture partners of Oil Mining Lease 18 have announced the  appointment of NNPC Eighteen Operating Limited as operator of OML 18 to replace Eroton Exploration and Production Limited. The Chief Corporate Communications Officer, Nigerian...