The Nigeria Liquefied Natural Gas Company Limited has said its fixed assets are now worth $11bn while it has 23 ships that have delivered about 5000 LNG cargoes to destinations around the worth since its establishment 21 years ago. The company also said it has generated revenue amounting to $108bn, out of which dividend worth […]
The Nigerian National Petroleum Corporation in its latest monthly operations report said the increase in gas supply to 789 million standard cubic feet, which was delivered to gas-fired power plants, led to the generation of 3,358 megawatts of electricity. Also, power sector performance updates seen at the Federal Ministry of Power in Abuja on Monday […]
Nigerian National Petroleum Corporation (NNPC) has said it will continue to swap crude oil for refined petroleum products till June. “The DSDP was extended till June 2021 to enable us to conclude the ongoing process of putting new contact in place,” as said by NNPC spokesman Kennie Obateru. Nigeria exchanges more than 300,000 barrels per […]
Nigerian National Petroleum Corporation (NNPC), has revealed that only 38 per cent of the over 5,120 kilometre owned by the state oil company is functioning. Although the Group Managing Director, NNPC, Mele Kyari, while admitting that pipelines remained the safest way to move crude oil and products, he said the Corporation has struggled to efficiently […]
The Nigerian National Petroleum Corporation (“NNPC”) and FIRST Exploration and Petroleum Development Company (“FIRST E&P”) Joint Venture has announced the commencement of oil production from the Anyala West field in Oil Mining Leases (OMLs) 83 & 85. OMLs 83 & 85 are in the shallow waters offshore Bayelsa State where FIRST E&P is the Operator […]
Amidst dwindling oil revenue occasioned by the coronavirus pandemic, Nigeria produced 155,062,220 barrels of crude oil and condensate for the months of July, August and September. According to data from the Department of Petroleum Resources, the country produced a daily average of 1,701,738, 1,704,669 and 1,648,786 for the months of July, August and September 2020, translating […]
Nigerian operator First E&P has started oil production from a shallow-water project located offshore Nigeria through the Abigail-Joseph FPSO. The Yinson-owned Abigail-Joseph FPSO is a redeployment of one of Yinson’s existing vessels, FPSO Allan, which had previously operated for nearly 10 years in the Olowi Field in Gabon. The vessel was chartered by First E&P on […]
The Federal Government said it was willing to resume oil exploration in the Lake Chad Basin. The exercise was suspended by the government in July 2017 after suspected members of Boko Haram attacked a team of geological engineers from the University of Maiduguri who were engaged by Nigeria National Petroleum Corporation to carry out a […]
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 […]
