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Shell lost 11,000bpd to oil theft- GM

The General Manager, External relations, Shell Petroleum Development Company, (SPDC) Mr. Igo Weli has revealed that over 11,000 barrels per day,(bpd) was lost to oil theft in 2018.

Crude oil reserves suffer fall

The Organisation of Petroleum Exporting Countries (OPEC) in its recent report has revealed that Nigeria suffered a fall in its crude oil reserves in 2018. The organization’s Annual Statistical Bulletin for 2019 shared that the nation’s reserves, which was 37.453 billion barrels in 2017, fell by 481 million barrels to 36.972 in 2018. This…

ExxonMobil subsidiary seeks contractors for revamp work

Mobil Producing Nigeria (MPN), an ExxonMobil subsidiary has called for “Competent and qualified” turnkey contractors to take part in a platform revamping process. The subsidiary said engineering, procurement, construction, and installation players are needed for its Production Platforms Restoration projects. A pre-qualification process has…

Chevron bemoans oil theft in Nigeria

Chevron Nigeria has bemoaned the spate of oil theft, illegal oil refining, and pipeline vandalism. The oil major believes the actions are threats to Nigeria’s economy. The company shared this in a position paper presented at a one-day seminar on advocacy against crude oil theft in Warri, Delta State. It said the challenges have continued to make…

Shell invests $2bn on Kano electricity

Shell Foundation has announced its plans to invest $2 billion on Kano Electricity Distribution Company (KEDCO). The Managing Director of KEDCO, Jamilu Gwamna, explained that the multi-billion investment of the Oil conglomerate was aimed at boosting the services of the Distribution firm. He said this in Kano while inaugurating 170 new 500 KVA…

Oil issues affecting Nigeria’s GDP – Fitch

Nigeria’s heavy dependence on oil and gas as its major source of revenue could foresee a drop in the country’s GDP. Fitch Ratings, a global ratings agency, has shared that Nigeria will continue to experience a sluggish recovery in its economy, driven by the rebound in oil prices and the expansion of services. The agency predicted that the…

Nigeria’s refineries work at 5.55 percent capacity- NNPC

Data released by the Nigerian National Petroleum Corporation, NNPC has shown that Nigeria’s four refineries operated basically at just 5.55 per cent of their combined nameplate capacity of 445,000 barrels daily. This means that the oil-rich nation yet relies heavily on imported products for its fuel needs.

NNPC restates commitment to end gas flaring in Nigeria

The Nigerian National Petroleum Corporation, NNPC has restated its commitment to eliminating gas flare in Nigeria. This according to the corporation is targeted at enhancing a pollution free environment to future generations of Nigerians.

Nigerian LNG cargo purchased by Portugal

A Nigerian Liquefied Natural Gas cargo is scheduled to arrive Sines LNG import terminal in Portugal next week. This is captured in the shipping data by the Port of Sines which showed that the LNG Akwa Ibom tanker capable of transporting up to 141,000 cubic meters of the chilled fuel is scheduled to dock at the facility on June 17. The vessel
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