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.
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.
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.
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.
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.