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 Edo Modular Refinery is set to earn about $125m foreign exchange from the exportation of naptha, which is one of the major products from the facility.
In a bid to tackle oil theft and piracy, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has developed a new strategy with its launching of sea surveillance patrols in Rivers State.
The Nigerian National Petroleum Corporation (NNPC) generated $4.6 billion as total crude oil and gas export receipts in 13 months (from June 2019 to June 2020). Details of the earnings were contained in the June 2020 Monthly Financial and Operations Report of NNPC.
In the first five months of this year, the United States cuts its imports of Nigerian crude oil to 9.37 million barrels, 11.67 million barrels lower than what it bought in the same period of 2019.
The Minister of State for Petroleum Resources, Chief Timipre Sylva, says President Muhammadu Buhari is committed to putting an end to the importation of refined petroleum products into Nigeria.
In a notice published on its website on Wednesday, the Nigerian National Petroleum Corporation is calling on investors to bid for the repairs of pipelines and depots across the country.
The Nigerian National Petroleum Corporation (NNPC) has assured stakeholders that the $2.8 billion Ajaokuta-Kaduna-Kano (AKK) gas pipeline project will not go the way of other such mega infrastructure in the country that failed in the past.
The Director of the Department of Petroleum Resources (DPR), Mr. Auwalu Sarki, has enjoined lubricant producers in the country to look beyond the shores of Nigeria and target the export market in the distribution of their products.
Global demand for Nigeria’s liquefied natural gas (LNG) has significantly increased as over 16 vessels valued at N354billion departed Onne Port with 950,000 metric tons of LNG to various destinations in the last few months.