Buhari, Mele and Mungo Park, by Salisu Na'inna Dambatta   The word, "exploration," has put President Muhammadu Buhari, Mele Kolo Kyari, the Group Managing Director and Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Ltd and Mungo Park, the Scottish medical doctor, in a...

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...

NNPC Spends N1.1trn On Subsidy, FAAC Remittance, Oil Exploration In 7 Months   The Nigerian National Petroleum Corporation (NNPC) spent N1.165 trillion to subsidize petrol, for oil exploration and remittance to the Federation Account Allocation Committee (FAAC) in seven months of this year. According to NNPC monthly...

Nigeria’s Oil Exploration Declines By Over 70%       There are indications that oil exploration dropped in Nigeria by 70 per cent in February 2021, according to the Organisation of Petroleum Exporting Countries, OPEC. In its March 2021 report the organization put the nation’s rig count, a major...

Oil Exploration Activities Decline, Threaten 40bn Reserves Target           Nigeria has recorded a significant 19.3 per cent decline in the level of oil exploration in the first 10 months of this year, a development which may be threatening the Federal Government’s plan to restore growth in...

Nigeria’s Oil Rigs Decline By 30% As Exploration Drops       The number of active oil rigs in Nigeria declined by 30 per cent in October, with stakeholders lamenting the reduction in exploration activities in the nation’s oil and gas industry. Data obtained by our correspondent from the...