The Nigerian National Petroleum Corporation (NNPC) yesterday in Abuja warned marketers and other players in the downstream sector to desist from activities that could create scarcity of petroleum products in the country. Group Managing Director of the corporation, Dr. Maikanti Baru, who gave the warning at the launching of Petroleum Products Marketing Company (PPPMC) Business…

Stability in the Niger Delta region and other factors have pushed Nigeria’s crude oil production to 2.3 million barrel per day (bpd) from last year’s 2.1 million bpd figure, the Nigerian National Petroleum Corporation (NNPC) has disclosed. Speaking during a courtesy visit by the Nigeria Union of Journalists (NUJ) yesterday in Abuja, NNPC Group Managing…

Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, yesterday restated commitment to developing the nation’s gas sector as part of measures to increase local consumption of gas in Nigeria as well as export market.    Speaking as indigenous and international firms jostle for contracts to off-take Natural Gas Liquids (NGLs), in which…

President Mohammadu Buhari has drummed support for the Federal University of Petroleum Resources (FUPRE), Effurun, calling on industry and private sector operators to assist the institution actualise its mandate. Already, Buhari has directed the education minister, Adamu Adamu to look into the issue of non-release of the take-off grant to the university. “We also appeal…

The Guardian’s Energy Reporter, Kingsley Jeremiah, has been awarded Energy Correspondent of the Year by the Nigerian Association for Energy Economics (NAEE) for his outstanding coverage of the oil, gas and power sectors in Nigeria. Speaking yesterday at the event, the immediate past president of the body, Prof. Adeola Adenikinju, submitted that the council reviewed…

A cargo of Nigeria’s distillate-rich Bonga crude is due to move to the United States (U.S.) from the May loading programme, traders have disclosed, after a near six-month hiatus. According to U.S. Customs data, the last cargo of Bonga arrived in the U.S. in December. Over the course of 2018, US imports of Bonga dropped…

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…

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…

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…

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.

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…

The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, yesterday, denied cash transfer to the President Muhammadu Buhari...