Nigeria’s crude oil suffers setback as more traders opt for U.S. blend
Nigeria’s crude oil is under serious pressure at the international market, as Asian refiners have increasingly been moving away from their usual favourite...
DPR indicts CBN, NPDC in alleged N6tr revenue leakages
The Department of Petroleum Resources (DPR) has indicted the Central Bank of Nigeria (CBN) for determining the rate at which royalties paid in dollars are converted to naira before remitting into the Federation Account.
NPDC to raise Nigeria’s oil production by 320,000bpd
Nigeria’s crude oil production is expected to increase by 320,000 barrels per day (bpd) by 2020 from different Oil Mining Lease (OML) in the Niger Delta region.
NNPC reduces trade deficit by 16%
The Nigeria National Petroleum Corporation (NNPC) has reduced its trading deficit to ₦14.26 billion by January end, down from ₦17.01billion recorded in December 2016, representing about 16 per cent improvement.
Group flays disruption of NPDC activities in Edo State by youths
A group, under the auspices of the Concerned Edo Youth Forum (CEYF), yesterday strongly condemned the protest by some youths that led to the disruption of business activities at the Nigeria Petroleum
MOSOP, INC urge FG to compel oil firms to relocate to Niger Delta
The Movement for the Survival of the Ogoni People (MOSOP) and Ijaw National Congress (INC) have asked the Presidency to enforce the relocation of multinational oil companies to the Niger Delta.
NEITI urges NPDC to remit $4.9b to treasury
The Nigerian Extractive Industry Transparency International (NEITI) has urged the Nigeria Petroleum Development Company (NPDC) to settle $4.977 billion outstanding liabilities to the Federal Government.
Petroleum sector loses N220b to pipeline sabotage
Nigeria’s petroleum sector in the last eleven months, lost over N220 billion to pipeline sabotage.