Nigeria must address key challenges, including enhanced security, increased investment, and a robust regulatory framework, to meet its target of producing 2.06 million barrels of crude oil per day in 2025. This is the conclusion of an analysis included in…
The Nigerian Navy personnel at NNS Jubilee in Ikot Abasi LGA, Akwa Ibom, have intercepted a boat carrying approximately 100,000 liters of crude oil. The Commander of NNS Jubilee, Commodore Martins Fakrogha,Made this disclosure during a press briefing in Ibaka,…
The 6 Division of the Nigerian Army has reported that its troops have seized 197,000 litres of stolen crude oil and arrested 29 suspects in the Niger Delta region. The Army also announced the destruction of 42 illegal refining sites…
The Nigerian Navy’s Operation DELTA SANITY has discovered and deactivated a hideout which harbours crude-oil thieves in Oboloba community, Bayelsa State. It also detected and destroyed an illegal refining site laden with a large amount of illegally refined kerosene in…
By Matthew Denis The Nigeria National Petroleum Company Ltd (NNPC Ltd) has announced that the Dangote refinery will begin selling petrol in Naira starting from October 1, 2024. This information was shared in a statement by NNPC Ltd Spokesperson Olufemi…
The Federal Government yesterday inaugurated the Technical Sub-Committee tasked with developing the framework for the sale of crude oil to local refineries in Naira. The committee was inaugurated by the Minister of Finance and Coordinating Minister of the Economy, Mr.…
The domestic crude oil supply crisis that recently led to accusations and denials in the oil sector may warrant an investment plunge in the industry, operators declared during the week. According to operators at the Lagos Chamber of Commerce and…
Operatives of 6 Division, Nigeria Army, Port Harcourt, Rivers State have arrested five illegal oil bunkering suspects. This was as the troop of the Division also uncovered five 45,000 capacity reservoirs ladened with approximately 225,000 liters of crude in the…
The federal government of Nigeria appears to have bowed to pressure from domestic crude oil refiners like Dangote Refinery and Petrochemical Plant and other modular refinery operators in the sector and has given approval for them to have the option…
The Petroleum Technology Association of Nigeria (PETAN) has stated that Nigeria is currently under producing crude oil to the tune of 500,000bpd. The Chairman of PETAN, Mr. Wole Ogunsanya made this known when he received the representatives of the Association…
