The Nigerian National Petroleum Company Limited (NNPC) has begun buying petrol via cash tenders, rather than oil swaps, for the first time in nearly a decade, four sources familiar with the matter told Reuters.
The Nigerian National Petroleum Company Limited (NNPC) has said with all the ongoing upstream projects, it plans to meet its 40 billion barrels crude oil reserves target by 2030.
President Bola Ahmed Tinubu’s Policy Advisory Council has proposed the sale of the major stakes of the Nigerian National Petroleum Company Limited (NNPC) in the upstream, midstream and downstream sectors of the oil and gas industry.
An Ad-hoc Committee that was set up by the House of Representatives to investigate the alleged loss of over $2.4bn in revenue from the illegal sale of 48 million barrels of Crude Oil in 2015 including crude oil exports from 2014 to date has cleared the Nigerian National Petroleum Company Ltd of any wrongdoing.
The Nigerian National Petroleum Company Limited (NNPC) on Tuesday officially kicked off the exploratory drilling campaign in Obi, Nasarawa State, with the assurance that the effort would contribute to its aspiration to grow the country’s crude oil reserves to 50 billion barrels, from the current 37 billion barrels.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says 17 marginal oil fields are currently producing out of 30 fields awarded since its inception in 1999.
Shell Plc, ExxonMobil Corporation, Chevron Corporation, and Equinor ASA have said they will withdraw their lawsuits of about $3 billion, against the Nigerian National Petroleum Company (NNPC) Limited.
Nigeria’s President, Muhammadu Buhari, has approved the Seplat Energy Offshore Limited acquisition of Exxon Mobil shares in the United States of America.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has expressed concerns about the country’s production capacity, citing cases of deliberate shut of oil wells and pipelines by operators who are trying to deal with theft.
A well at a site operated by local Nigerian firm Eroton Exploration and Production Limited has been spilling oil and gas into the Niger Delta for more than a week, the company and an agency responsible for detecting oil spills said.