The Federal Government has disclosed that Nigeria now produces crude oil from over 246 fields across the country and operates 188 production stations/platforms.
Nigeria’s oil regulator met with producers and local refiners to fix implementation of a policy mandating crude sales to domestic refineries, the head of the agency said on Tuesday.
The final investment decision (FID) on the planned $25 billion Nigeria-Morocco pipeline linking North and West Africa could be reached by December, a senior Nigerian oil official said.
The Independent Petroleum Producers Group (IPPG) wholeheartedly endorses the recent Executive Orders signed by President Bola Ahmed Tinubu, aimed at revitalising investment in Nigeria’s oil and gas sector and positioning the nation as Africa’s premier investment destination within the energy sector.
Africa’s biggest producer is trying to halt a flight of investment capital from its onshore fields by oil majors fleeing assets prone to spills caused by attacks including sabotage and vandalism
Nigeria has received 60% of the African Export and Import Bank’s (Afreximbank) N30 billion investment in Africa’s oil and gas sector.
Nigeria, Africa’s largest oil producer, is the second most expensive place globally to extract crude oil, BusinessDay has reported.
The National Upstream Petroleum Regulatory Commission (NUPRC) has initiated plans to relocate certain departments from Abuja to Lagos, according to a memo seen by Peoples Gazette.
Brent, the global benchmark for crude, rose to $83.19/barrel on Tuesday evening, moving up by $1.19 when compared to its cost the preceding day, as latest data from the Federal Government indicated that Nigeria’s oil output increased to 1,426,574 barrels/day in January 2024.
French energy giant TotalEnergies is exploring the sale of its minority stake in a major Nigerian onshore oil joint venture, following Shell’s divestment last month, according to CEO Patrick Pouyanne.