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The Nigerian National Petroleum Corporation (NNPC) says it is committed to supporting the ongoing initiatives by the Federal Ministry of Petroleum Resources to provide an alternate energy source to Nigerians.

A prepayment funding of about $1bn has been disbursed to the Nigerian National Petroleum Corporation to support the upstream operations of its subsidiary, the Nigerian Petroleum Development Company. NNPC said on Thursday night that the crude oil prepayment had enabled the corporation to pay NPDC’s tax obligations to the Federal Government of…

A structural digital twin has been deployed by Swiss company Akselos for Shell Nigeria Exploration and Production’s (SNEPCo’s) Bonga Main floating production storage and offloading (FPSO).

The Federal government says the proposed Petroleum Industry Bill (PIB) would ensure that the nation’s abundant natural gas resources are used to promote national development.

The Society of Petroleum Engineers Nigeria Council has said many oil and gas projects are not viable at the current oil price of $ 45 per barrel.

The Minister of State for Petroleum Resources, Chief Timipre Sylva, has said that the Federal Government is working towards attaining a $10 per barrel production cost sealing in the oil and gas sector.

The payment for the Nigerian offshore oil block, Oil Prospecting Licence 245, acquired by the oil majors Eni and Shell were made directly to the Federal Government through transparent means.

Oil and gas exploration and production firm, LEKOIL, has announced that the Otakikpo Joint Venture has executed definitive agreements for the next phase of the Otakikpo marginal field development.

The Department of Petroleum Resources (DPR) says over 600 companies have applied to be prequalified for the ongoing bid rounds of 57 marginal oilfields in the country.

Atlas Petroleum International resumed workover activities and well interventions on OML 109 over the weekend, in a bid to enhance production from the Ejulebe marginal field.