The Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, says the four oil refineries in the country have been shut down in Port Harcourt, Warri and Kaduna. He explained that all four refineries were functioning below capacity and it had thus become necessary to stop them from operating all together. Responding to […]
Nigerian energy company Lekoil Ltd needs to raise around $100 million before it can start drilling in its Ogo oilfield, its chief executive told Reuters. Lekoil reached a deferred payment deal earlier this year to keep its stake in OML 310, where Ogo sits, after it discovered a $184 million loan it wanted to use […]
The implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act has saved Nigeria an estimated $2billion in the Engineering Procurement and Construction (EPC) contract for Nigeria LNG Train 7 Project. The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote, disclosed this at the 2020 Annual Capacity […]
The increase in domestic gas supply to gas-fired power plants by the Nigerian National Petroleum Corporation raised the quantum of power generated by the facilities by 445 megawatts in five months. Latest data on domestic gas supply to the power sector and electricity generation obtained from the NNPC in Abuja on Friday showed that gas […]
The Nigerian Petroleum Development Company (NPDC), an exploration and production subsidiary of the Nigerian National Petroleum Corporation (NNPC), Friday said it was targeting an additional 600 million standard cubic feet per day (mmscf/d) gas supply to the domestic market between 2023 and 2025. Group General Manager, Group Public Affairs Division, NNPC, Dr. Kennie Obateru, in […]
Stakeholder in the Nigerian economy Tuesday clamoured for swift completion of the $2.8 billion Ajaokuta-Kaduna-Kano (AKK) gas pipeline with a view to attaining rapid industrial growth and economic diversification. An economic think-tank drawn from the organised private sector, petroleum industry, regulatory agencies and academia, who partook in a webinar organised by Valuechain Magazine, enjoined the […]
The Nigerian National Petroleum Corporation (NNPC) has said that it will increase daily gas production from 260,000 to 500,000 standard cubic feet per day in the next two years. The Group Managing Director of the corporation, Mallam Mele Kyari revealed the plan recently while inspecting Oredo Integrated Gas Handling Plant Facility (IGHF), which belongs to […]
The Nigerian National Petroleum Corporation (NNPC) on Wednesday said it would reduce importation of Liquefied Petroleum Gas (LPG) into the country when the 100 million standard cubic feet of gas capacity facility at Oredo flow station in Benin City, Edo State, is commissioned. President Muhammadu Buhari, according to Mele Kyari, group Managing Director of the […]
The Nigerian National Petroleum Corporation (NNPC) on Sunday, says it made a total of $4.60billion from crude oil and gas export between June 2019 and 2020. It said in June 2020, the export receipt was $378.42 million as against the $133.16million recorded in May 2020. This was contained in the NNPC’s Monthly Financial and Operations […]
Producers and consumers of natural gas alike can agree on gas prices on a willing seller willing buyer basis, the Nigerian Minister of State for Petroleum has said. “However special protections are built in to ensure supply to wholesale customers in strategic sectors which are the power sector, gas-based industries and commercial sectors with significant […]
