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Barkindo seeks OPEC members’ cooperation in achieving output cuts

The Secretary-General of the Organization of Petroleum Countries, OPEC Mohammed Barkindo has enjoined members of the group and its 10 allies to join hands together to achieve their agreed output cut goals. Barkindo mentioned that initial production and supply data from the 24 participating countries showed various levels of conformity and

NNPC takes final investment decision on Assa gas field

Sufficiency in domestic gas supply may be attained soon as the Nigerian National Petroleum Corporation (NNPC), has taken the Final Investment Decision (FID) on the 4.3 trillion-cubit Assa North/Ohaji South Fields development. The investment decision on the field located in oil mining lease (OML 21), was made by the corporation on Wednesday, 14

Kachikwu launches crude oil tracker, other automation devices

Minister of State for Petroleum Resources, Dr. Ibe Kachikwu recently launched computerized crude oil and Liquefied Natural Gas, LNG tracking, automatic downstream system and other automation initiatives. He made this known at a ministerial briefing on the achievement of the Department of Petroleum Resources, DPR and inauguration of the

NNPC, SNEPCO move to consider FID on $10bn Bonga South West Apora project

Plans have been concluded by the Nigerian National Petroleum Corporation, NNPC, and Shell Nigeria Exploration and Production Company, SNEPC to take a Final Investment Decision, FID, on the $10 Bonga South West Aparo project. An undisclosed industry source told Vanguard Newspaper that “SNEPCO, NNPC and others involved in the Bonga South West

Nigeria losing $14.2bn from JV oil contracts- RMAFC

Revenue Mobilisation and Fiscal Allocation Commission, RMAFC, has expressed worry over the fact that Nigeria is currently not benefitting from existing Joint Venture Contracts, JVCs. Speaking in Abuja at National Policy and Development, NPOD Summit 2019, Chairman RMAFC, Mr. Shettima Abba-Gana disclosed that the country is loosing close to

Uncertainties, security, others may affect Nigeria’s oil sector

Players in the Nigerian oil and gas sector say that the industry particularly upstream will be affected by policy uncertainties, security, and a slump in the price of crude oil. The players in an outlook recently said the non-passage of the Petroleum Industry Government Bill would affect the growth of the sector. They warned politicians to

NPDC records 57,000bpd crude oil production

The Nigerian National Petroleum Corporation, NNPC recently announced that its subsidiary firm, Nigerian Petroleum Development Company, NPDC has increased its production by 57,000 barrels per day.   This was announced in its January 2019 news edition obtained in Abuja which stated that crude production increased from 108,000bpd in 2016 to

FG mobilizes 16 contractors to check oil spill in Ogoniland

The Federal Government yesterday mobilized 16 contractors to carry out environmental remediation and cleanup of oil spill in Ogoniland. The Minister of Environment, Suleiman Zarma made this known after a group of Ambassadors interested in the remediation of the oil spill in Niger Delta, visited him in Abuja. The group included ambassadors

Don’t expect early discovery of oil in northern Nigeria, NNPC warns

Nigerians should not expect an oil and gas discovery in the North any time soon. NNPC, weekend, warned that the discovery of hydrocarbons in the region might take years or decades to achieve. Group Managing Director of the Nigerian National Petroleum Corporation, Mr. Maikanti Baru, said that oil was discovered in Niger Delta after 50 years of

Buhari directs NNPC to extend oil exploration to six basins

President Muhammadu Buhari recently ordered the Nigerian National Petroleum Corporation, NNPC, to extend its crude oil exploration to six basins in the country. The president said exploration was imperative to the country's economy, and that oil and gas remain critical to the development of the country. While flagging off the commencement of
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