The Federal Government, on Wednesday, announced that it issued letters of award to 42 firms for the 2022 Nigerian Gas Flare Commercialisation Programme.
A review of global oil prices on Oil Price early on Wednesday, September 13 (5:36 AM, GMT+1), showed that Brent crude is at $92.28 per barrel.
LAGOS — Implementation of the 2023 budget of N21.8 trillion is currently threatened as the nation has suffered a shortfall in crude oil output, amounting to 470,000 barrels per day, bpd in August 2023.
SINGAPORE, Sept 5 (Reuters) – Nigeria has sufficient natural gas reserves and can increase its production to more than 5 billion cubic feet per day by 2030, Ekperikpe Ekpo, Nigeria’s minister of state for gas, told the Gastech conference on Tuesday in Singapore.
MILAN/LONDON, Sept 4 (Reuters) – Italy’s Eni (ENI.MI) has agreed to sell its Nigerian onshore subsidiary to local company Oando (OANDO.LG), the two companies said on Monday, the latest international energy giant to divest onshore assets in the West African country.
WorldStage Newsonline– The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has threatened to revoke the licences of oil operators or settlors who failed to remit the three per cent statutory fees to oil communities before September ending.
“OPEC’s output is still undershooting the targeted amount by almost 800,000 bpd mainly because Nigeria and Angola lack the capacity to pump as much as their agreed level.”
Nigeria has historically had to import petroleum by-products, diesel and gasoline from other countries such as India, Belgium and the United Arab Emirates. This was one of the major paradoxes that overshadowed the African country in the midst of a more aggressive and competitive international market.
Nigeria looks to restart four of its oil refineries by the end of 2024, the country’s newly appointed minister of state for petroleum, Heineken Lokpobiri told Reuters, as the southern Port Harcourt plant prepares to begin operations by the end of this year.
The Presidency has directed the Federal Ministry of Petroleum Resources to suspend its activities on the constitution of a committee to audit the account of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).