The latest crude oil production report released by the Nigerian National Petroleum Corporation, NNPC, shows that marginal oil fields in Nigeria produced 1.52 million barrels of crude oil and condensates in August 2020, accounting for 2.97 per cent of Nigeria’s total oil and condensates production of 51.147 million barrels in August 2020.
The Nigerian National Petroleum Corporation says the volume of crude oil discovered in Benue Trough was in commercial quantity.
The number of active oil rigs in Nigeria declined by 30 per cent in October, with stakeholders lamenting the reduction in exploration activities in the nation’s oil and gas sector.
The Department of Petroleum Resources, Lagos Zonal Office, said that it had shut down 85 illegal gas plants in the state this year for not complying with international safety standards and operating without approval or licence from the DPR.
The Federal Government has said it was willing to resume oil exploration in the Lake Chad Basin.
An explosion has been reported by the Nigerian Petroleum Development Company, a subsidiary of the Nigerian National Petroleum Corporation, at a production facility in Oil Mining Lease 40 involving its partners, Elcrest Exploration and Production Nigeria Limited.
The global Extractive Industries Transparency Initiatives (EITI) on Monday commended the improvement in transparency and accountability by the Nigerian National Petroleum Corporation (NNPC), pledging to support the corporation in the aspect of the oil firm’s financial reports.
The Nigerian National Petroleum Corporation (NNPC) and FIRST Exploration and Petroleum Development Company (FIRST E&P) Joint Venture has announced the commencement of oil production from the Anyala West field in Oil Mining Leases (OMLs) 83 & 85.
After a three and a half month-long exercise, the Department of Petroleum Resources (DPR) is awaiting the approval of President Muhammadu Buhari to announce the results of the marginal fields bid round.
Shell Nigeria Gas (SNG) in what it described as a project to ensure safe transmission of gas to power booming businesses in Aba, Abia state’s commerce hub has commenced City Gate Gas Plant project in the state.