NNPC to collocate 2000bpd refineries in Port-Harcourt, Warri
The Nigerian National Petroleum Corporation (NNPC) has said arrangement has been concluded for a new 100,000-barrels-per-day brownfield refinery each in Port-Harcourt, Rivers State and Warri, Delta State. According to the Group Managing Director of NNPC, Dr. Maikanti Baru, the plan is part of the corporation’s initiative designed to boost local refining capacity to end petroleum…
‘It is unfair to say Buhari is undefeatable’
Professor Tam David-West was a member of the 1979 constitution drafting committee and minister of petroleum and energy in Major- General Muhammadu Buhari’s military regime (1984–1985).
Oil prices fall as OPEC boosts supplies
Oil prices sank to the lowest in over one month, as rising United States (U.S.) inventories, higher output from the Organisation of Petroleum Exporting Countries (OPEC) and Russia’s pressure impact the market. Futures fell for the third day in New York, losing as much as 1.1 per cent to hit their lowest level since June…
OPEC’s 2018 oil output peaks in July
The Organisation of Petroleum Exporting Countries’ (OPEC) oil output rose last month to a 2018 high as Gulf members pumped more after a deal to ease supply curbs and Congo Republic...
U.S. import from OPEC member countries declines by 23,000bpd
The United State (U.S) product imports from the Organisation of the Petroleum Exporting Countries (OPEC) member countries dropped by 23 thousand barrels per day (tbpd) compared to a month before to stand at 301 tbpd. Besides, OPEC has raised world oil demand by 1.65 million barrels per day (mbpd) in 2018 in its July monthly…
NNPC may take final decision on NLNG Train seven this year
The Group Managing Director of the Nigerian National Petroleum Corporation, (NNPC) Maikanti Baru, has said a Final Investment Decision (FID) on the additional eight Million Tonnes Per Annum Nigeria
Trump says Saudi king agrees to ramp up oil production
US President Donald Trump said on Saturday that Saudi Arabia's King Salman had agreed to his request to ramp up oil production, a week after OPEC already announced an output rise.
Oil prices fall as OPEC raises production target from July
Crude oil prices fell yesterday after the decision by the Organisation of the Petroleum Exporting Countries (OPEC) and non-OPEC members to...
Oil majors take lion’s share of N84tr proceeds in five years
Although oil has always been described as Nigeria’s core mineral wealth, fresh statistics show that industry operators might be the main beneficiaries from the sector.The petroleum industry earned $276.642 billion (N84.6 trillion) in the last five years. Only N8.41 trillion of the sum, however, was spent on budget from 2013 to 2017.