Nigeria’s Crude Oil Production Increases to 1.352 Million BPD
Nigeria’s crude oil production increased from 1.307 million barrels per day inJuly to 1.352mbpd in August. This is according to OPEC’s September Monthly Oil Market Report. OPEC reported that the average daily crude production rose marginally by 45,000barrels per day, based on information obtained through direct communication withthe Nigerian government. This report contradicts the Federal […]
NNPCL Under Financial Strain
The Nigerian National Petroleum Company Limited is experiencing financialstrain, which has put considerable pressure on the company and poses a threat tothe sustainability of fuel supply. Its Chief Corporate Communications Officer, Olufemi Soneye, in a statementyesterday, acknowledged reports regarding the company’s significant debt topetrol suppliers, noting that the financial strain had placed considerable pressureon the […]
FG to grant mining licenses to only companies that process locally
The federal Government says it will only grant new mining licences to companies that present a plan on how minerals would be processed locally, under new guidelines being developed. According to Segun Tomori, the spokesperson for the minister of solid minerals development, Dele Alake, to spur investment, the government will offer investors incentives including tax […]
President Tinubu issues new directives to improve investment in Oil & Gas
President Bola Tinubu has signed an executive order to improve the investment climate and position of Nigeria as the preferred investment destination for the oil and gas sector in Africa. His media aide, Ajuri Ngelale, disclosed in a statement that this is in keeping with the President’s commitment to remove obstacles to investments in Nigeria, […]
NARTO suspends its planned nationwide strike
The Nigerian Association of Road Transport Owners (NARTO) has suspended its planned nationwide strike. NARTO members had threatened to shut down all over the country beginning Monday over the high cost of automotive gas oil, also known as diesel, which is used to fuel their trucks for the movement of petroleum products across Nigeria. However, […]
Dangote Refinery Receives 6th batch of Crude oil barrels… Refinery set to commence production
The fresh one million Agbami barrels of crude via MT ALMI SUN is the sixth to complete the scheduled 6 million barrels consignment to be delivered to the Dangote facility needed to commence operations by the world’s largest single-train refinery. Exactly a month ago, Dangote Refinery received the first one million barrels of Agbami crude […]
Dangote Oil Refinery receives additional 1 million barrels of oil from Shell International Trading and Shipping
Nigeria’s new $19 billion Dangote oil refinery has received additional 1 million barrels of oil from Shell International Trading and Shipping, its second crude cargo this month, as it steps up preparations to begin operations, according to a company spokesperson on Wednesday. The refinery is years behind schedule but its operations are expected to turn […]
