nigeria oil and gas news

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    Business Nigeria rich in gas, lowest in usage –FG – The Punch

    Nigeria has the lowest penetration of liquefied petroleum gas, popularly called cooking gas, despite being rich in gas resources, the Federal Government has said. The Minister of State for Petroleum Resources, Timipre Sylva, who said this during a television interview, also stated that …...
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    Business Nigeria has one of the lowest rig count activities among OPEC – BusinessDay

    As oil price soars high, Nigeria has one of the lowest rig count activities among all Organisation Petroleum Exporting Countries (OPEC), as Nigeria witness a slight fall in its rig count, data obtained from the Organisation of the Petroleum Exporting Countries, (OPEC) has shown. Read more...
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    Business [Video] Dangote Oil Refinery: Graduate Engineer Trainees Return After Overseas Training – Nairaland

    The Dangote Petrochemical and Refinery ‘s 650, 000 barrels per day capacity is to be operated by expatriates from India as 22 graduate trainees returned from Mumbai, India after five months training with Bharat Petroleum Corporation Limited on the following units: Crude distillation...
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    Business NNPC refineries: Stop rehabilitation palavering – Sonny Atumah – Vanguard News

    It may be the hallelujah song for Nigerians if the NNPC gets it act together to rehabilitate the state owned refineries and end the overindulgence in fuel importation in the magical year 2019. It would no longer be in our dreams as some gave up on what this Read more via Vanguard News –...
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    Business Fuel Subsidy Fraud: 3 Oil Tycoons Bag 8 Years Jail Terms – P.M.EXPRESS

    Justice Lateefat Okunnu of the Lagos State High Court sitting in Ikeja, Lagos, Tuesday convicted and sentenced three oil marketers, Adamu Maula, George Ogbonna and Emmanuel Morah to eight years in prison each over their involvement in N789.6million oil fraud. Their conviction was based on a...
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    Business Oil near $70 after US stockpiles seen plunging – BusinessDay

    Brent crude, the international oil benchmark, rose to high of $69.31 a barrel on Wednesday, the most in almost three years, creeping closer to levels last seen in 2014 when a price crash got underway. Reports say oil extending gains from the highest close in more … via BusinessDay –...
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    Politics Local content: We were offered vessel to drop petition against oil firm, Senate alleges – Vanguard

    THE Senate, yesterday, raised the alarm that it was offered a vessel as a bribe to kill a petition brought against an oil firm for allegedly flouting the Nigerian Oil and Gas Industry Content Development Act. Senate chamber Disclosing this, yesterday, in Abuja when the Senate opened a … via...
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    Business FG may increase petrol price to N180 per litre – The Nation Nigeria

    The Federal Government may increase the price of Premium Motor Spirit (PMS), popularly called petrol to a minimum price of N180 and above anytime soon. Minister of State for Petroleum Resources, Dr. Ibe Kachikwu who dropped the hint in Abuja on Thursday, said the current price of N145 per litre...
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    Business Kaduna refinery idle for four months, loses N14.4bn – Punch Newspapers

    One of the nation’s refineries, Kaduna Refining and Petrochemical Company, did not process any crude oil from June to September this year and made a loss of N14.43bn within the period. The three government-owned refineries lost a total of N16.67bn in the third quarter of this year, the … via...
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    Business Deregulation will jerk up pump price to N190 – IPMAN – Punch Newspapers

    The National Operations Controller, Independent Petroleum Marketers Association of Nigeria, Mr. Mike Osatuyi, tells ’FEMI ASU and OKECHUKWU NNODIM, that deregulation will increase pump price What are your thoughts on the current state of the downstream sector? The issue is that deregulation will...
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    Business NNPC in frantic bid to clear queues before New Year – The Nation Nigeria

    • Increases supply to states Fuel supply to the 36 states by the Nigerian National Petroleum Corporation (NNPC) has been doubled in the last few days as part of the effort to restore normalcy to the petrol supply and distribution across the country. Group Managing Director of the Corporation, …...
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    Business Malabu Scandal: Italian Court Orders Shell, Eni to Face Trial – AllAfrica News: Nigeria

    An Italian federal judge has approved the prosecution of Royal Dutch Shell and Eni in the $1.3 billion controversial sale of OPL 245 oil block. The judge in Milan also said Eni executive, Claudio Descalzi, and his predecessor, Paolo Scaroni, should be tried for their role in the deal. The trial...
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    Business FG Licenses 10 More Modular Refineries

    The federal government has licensed 10 more modular refineries, making it 32 so far licensed in order to expand nation's capacity. As at end of first quarter of last year, 22 modular refineries had been licensed by the Department of Petroleum Resources (DPR) with daily refining capacity of...
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    Business Total In Secret Deal To Sell Multi-billion Dollars Downstream Assets in Nigeria [New Telegraph]

    Total, the only remaining multinational player in Nigeria’s downstream has decided to sell off its downstream assets due to the shrinking profit margins at the sub-sector. About 12 foreign and indigenous firms are said to be in hot race for its multi-billion dollar downstream assets, according...
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