News

The Nigerian National Petroleum Corporation has spent a total of N53.36bn on pipeline repairs and management cost from January to November.

Exxon Mobil Corp has signaled first-quarter results across its three major businesses, with an at least $2 billion improvement from prices for oil and gas driving profits.

The Nigerian National Petroleum Corporation has signed two key agreements with the Nigerian Content Development and Monitoring Board, Brass Fertilizer and Petrochemical Company Limited and DSV Engineering for the construction of a methanol plant and a gas processing plant in Odeama, Brass, Bayelsa State.

The Nigeria Liquefied Petroleum Natural Gas company has generated $114bn revenues for the country, says President Muhammadu Buhari.

Oil prices on Wednesday rose, paring overnight losses a day ahead of a meeting of OPEC and its allies, with investors betting the producers will largely agree to extend their supply curbs into May.

The Department of Petroleum Resources (DPR), has advocated for market-based approach to gas pricing, stating that this is crucial to attaining the gas-driven economic transformation agenda of the country.

Saudi Arabia is prepared to support extending oil cuts by OPEC and allies into May and June and is also ready to extend its own voluntary cuts to boost oil prices amid a new wave of coronavirus lockdowns, the Reuters news agency reported on Monday, citing a source briefed on the matter..

The managing director, Rain Oil Limited, Dr. Gabriel Ogbechie has urged Investors to deepen their investments in gas in order to attract maximum benefits to Nigeria’s economy.

French energy company Total said it had postponed the restart of work at a liquified natural gas (LNG) project in Mozambique following an attack on a nearby town this week.

The supply of Premium Motor Spirit (petrol) by the Nigerian National Petroleum Corporation hit a high of 72.72 million litres daily in December amid the smuggling of the product to neighbouring countries.