Dr. Maikanti Baru
Nigeria, Sao Tome move to exploit 500m barrels of oil
A new production sharing contract (PSC) yesterday entered into by Nigeria, Sao Tome and Principe Joint Development Authority (JDA) and Total Nigeria Plc is to exploit over 500 million untapped barrels of crude oil in West Africa. Coming 18 years after an earlier treaty was struck, Total and major stakeholders from the two nations as…
Global oil demand to fall to 30.6m barrels daily
The Organisation of Petroleum Exporting Countries (OPEC) has said demand for crude oil would fall to 30.59 million barrels per day this year due to global economic realities. While increasing forecast for non-OPEC production by 80,000 bpd to 2.18 million bpd on the backdrop of output from the U.S. Gulf of Mexico, the cartel’s monthly…
New revenue template exposes alleged NNPC’s lax probity
The new revenue template for revenue-generating agencies of government that came into existence last November may have exposed the alleged tardiness in accountability at the Nigerian National Petroleum Corporation (NNPC). The Federation Accounts Allocation Committee (FAAC) document revealed that the development was largely responsible for the past squabbles between the agency and the states, who…
NNPC reserves three billion litres of petrol for Yuletide
Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, yesterday assured of uninterrupted supply of fuel during the Christmas and New Year celebrations and beyond, saying it has 60-day fuel in stock.
‘Lagos pipeline explosion won’t affect fuel supply’
Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, yesterday in Abuja said the fire outbreak from a portion of the vandalised NNPC pipeline at Abule-Egba in Lagos will not affect adequate petroleum products supply in the state and its environs. Baru, in a statement by NNPC’s Group General Manager, Public…
22 fuel-laden vessels berth Apapa ports this week
No fewer than 22 vessels laden with petroleum products are expected to berth at Lagos ports this week to boost fuel supply. The products, including Premium Motor Spirit (PMS) known as petrol, Automated Gas Oil (AGO) known as diesel, Jet A1 (Aviation fuel) and base oil are in 32 cargoes. Statistics released by the Nigerian…
NNPC extends crude-for-refined oil contracts, settles $5b cash-call arrears
Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, said the corporation would continue to swap crude oil for refined petroleum products for the next six months in the face of obsolete refineries in the country.
NNPC to work with military in oil exploration in Chad Basin— Baru
The Nigerian National Petroleum Corporation (NNPC) says it will work closely with security agencies in its bid to resume oil exploration in the Chad Basin. The Group Managing Director of NNPC, Dr Maikanti Baru disclosed this on Tuesday in Kano at the 54th annual international Conference and exhibition of Nigeria Mining and Geosciences Society (NMGS).…
OPEC Secretary General arrives Nigeria on 4-day visit
The Secretary-General of the Organisation of Petroleum Exporting Countries (OPEC), Dr Mohammad Barkindo has arrived in Nigeria on Sunday to begin a four-day working visit.
NNPC saves N153b from direct sale of crude, 128 firms bid for programme
The adoption of the direct-sale-direct-purchase (DSDP) programme for 800,000 crude oil barrels per day saved N152. 5 billion last year, the Nigerian National Petroleum Corporation (NNPC) has said.