The Federal Government has announced plans to provide alternative petrol – Compressed Natural Gas (CNG) – for the common man costing between N95 and N97 per litre.
The Department of Petroleum Resources (DPR) is set to grant the Niger Delta Petroleum Resources Limited (NDPR) a License to Operate (LTO) its upgraded 11,000 barrels per day (BPD) refinery expected to be commissioned soon.
The Russian Federation at the weekend expressed its readiness to partner with the Nigerian National Petroleum Corporation (NNPC) in the development of Nigeria’s oil, gas and power sectors.
GlobalData, a data and analytics company, has said Nigeria will contribute about 35 percent of the total planned and announced oil and gas additions to the new trunk/transmission pipeline length between 2019 and 2023.
The Federal Government has said that it will revive the $16 billion Ogidigben gas project as the process has begun to ensure that all projects are realized.
Although analysts see the price of the Brent crude international oil benchmark ranging from $59 to $70 per barrel in 2020, based on varying projections for supply, global demand and whether OPEC’s latest production cut deal will see full compliance from member states, Nigeria is hoping to remain above the $57 benchmark for oil prices.
Chief Timipre Sylva, Minister of State for Petroleum Resources, says the review of the Petroleum Industry Bill (PIB) is at an advanced stage and full passage of the bill is expected mid-2020.
Following the closure of ECA's bank and export credit agency last week, Nigeria LNG Limited, NLNG, updated its Final Investment Decision, FID, for its Train 7 Project, with a planned 35 percent increase in production, while at the same time increasing its global competitiveness in the LNG sector.
Imo state governor, Emeka Ihedioha, has pledged the support of the government and people of the state for the success of the multibillion-dollar Assa North/Ohaji South Gas development project.
The Nigerian National Petroleum Corporation (NNPC) has announced crude oil and gas export sales of $355.9 million in September 2019, which indicates a significant increase of 52.8 percent, compared to the previous month figure of $232.9 million.