The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said the country’s known hydrocarbon reserves have increased, with crude oil and condensate hitting 37.5 billion barrels as of January 1.
Shell Nigeria Exploration and Production Co. Ltd. (SNEPCo) has reached a final investment decision (FID) on the Bonga North development. The company said in a media release this deepwater project off the coast of Nigeria will be a subsea tie-back to the Shell-operated Bonga floating storage and offloading (FPSO) facility.
Nigerian regulators approved the transaction in November after months of delay. It was completed through Project Odinmim, a special purpose vehicle owned by Chappal, at an undisclosed sum.
The Nigerian National Petroleum Company (NNPC) Ltd on Tuesday announced that it has began operation of the Port Harcourt Refinery and delivering petroleum products onto the market.
The Nigerian National Petroleum Company (NNPC) Ltd on Tuesday announced that it has began operation of the Port Harcourt Refinery and delivering petroleum products onto the market.
Government of Morocco is expected to launch tenders as part of the initial phases of the Nigeria-Morocco gas pipeline in 2025.
The Rivers oil terminal represents a historic achievement. Expected to be operational by March 2025, it is widely considered as Nigeria’s first indigenous onshore oil export facility. Once commissioned, this terminal will provide critical support for stranded oil fields in the Niger Delta, and address long-standing logistical bottlenecks surrounding crude production.
Nigeria faces its worst cost-of-living crisis in a generation after the government ended costly subsidies that made petrol affordable for many in Africa’s most populous country
NNPC, Nigeria’s NOC, introduced its Utapate crude oil blend at the Argus European Crude Conference in London on Wednesday.
The state-of-the-art $20 billion refinery was launched in January 2024, but only began producing gasoline in September, expected to reach full operations in November. The giant refinery has a capacity to process 650,000 barrels of crude per day, more than enough for the country’s needs. To sweeten the deal further, the facility is buying crude and selling refined fuels in Nigeria in the local currency, saving the country’s much-needed foreign exchange, especially the US dollar.