Oil and gas royalties and legacy debts have been identified as the major contributors to the revenue generated by the Department of Petroleum Resources (DPR), amounting $1.03 billion.
Indigenous companies operating in Nigeria’s oil and gas industry must upgrade their capacity for global competitiveness says the Nigerian National Petroleum Corporation (NNPC).
The Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mallam Mele Kyari, has raised the alarm that Nigeria was fast losing foreign investors confidence in the oil and gas sector, saying there is a need for Nigeria to act fast and address the loss.
Nigeria may experience petrol scarcity across the country as the Nigerian Association of Road Transport Owners on Monday ordered tanker drivers nationwide to halt operations beginning from Tuesday (today).
Vice President, Prof. Yemi Osinbajo, says the problems associated with Nigeria’s refineries will persist if the Federal Government continues to own and run them, saying that the Federal Government has no business running oil refineries in Nigeria.
The Nigerian National Petroleum Corporation, NNPC, says it made a trading surplus of N20.36 billion in July 2020, rising by 860 per cent from a surplus of N2.12 billion recorded in June.
The Nigerian National Petroleum Corporation (NNPC) has extended its contracts with private companies to swap crude oil for petroleum products for six months.
The latest data from the Central Bank of Nigeria shows that oil imports gulped a total of $770. 58m in the first half of this year.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has advised the Federal Government to completely deregulate the downstream oil sector.
The data from the Organisation of the Petroleum Exporting Countries (OPEC) showed that Nigeria’s crude oil output rose by 9% to 1.353 million barrels per day (bpd) in August relative to 1.361 million bpd in July.