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Downstream

NNPC Subsidiary, NPSC, sees N44.4bn revenue

One of the downstream subsidiaries of the Nigerian National Petroleum Corporation, the Nigerian Pipelines and Storage Company (NPSC), generated N44.4bn in the 2018 financial year.

Nigeria secures $2.5bn gas pipeline funds

A financing deal of $2.5 billion between Nigeria and China will be sealed by the second quarter of 2020 to fund the single biggest gas pipeline project in the West African nation.

Monitoring of imported fuel for ships to begin – NIMASA

In line with the International Maritime Organization (IMO) rule on the reduction of carbon emissions from ships, the Nigerian Maritime Administration and Safety Agency (NIMASA) has announced that imported fuel for ship bunkers must meet international conditions before allowed into the country.

Savannah Petroleum to expand Nigeria’s oil, gas sector

London-listed Savannah Petroleum's announcement to Reuters on Monday that it would opportunistically explore oil and gas acquisitions in Nigeria, calling for a purchase completed late last year as the starting kit for further expansion.

OPEC’s possible cuts to keep oil prices above the budget level in Nigeria

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.
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