Nigeria’s crude oil production fell below 1 million barrels per day (bpd) in August, figures from its regulator show, as the nation grappled with rampant theft from its pipelines. The country’s total oil and condensate output dropped to an annual…
The price of the Organisation of the Petroleum Exporting Countries (OPEC) basket of 13 crude oil samples stood at 101.04 dollars per barrel as at Wednesday. This is compared with 106.41 dollars per barrel recorded on Tuesday, according to OPEC…
A very large crude carrier (VLCC) named Heroic Idun has been detained by the navy in Equatorial Guinea following a dispute with Nigerian authorities. The 300,000 deadweight tonnage carrier got into a dispute with Nigerian authorities last week and was…
…To save Nigeria about $9bn potential contingent liability By Gloria Akudoro, Abuja As the dividends of PIA continue to linger, the Nigerian National Petroleum Company Limited (NNPCL) on Friday amicably renewed the signing of the fully termed agreement for the…
A Shell Floating Production Storage and Offloading (FPSO) vessel operating off Bayelsa coastline, has been shut down due water leakage, an official has said SPDC Spokesman, Mr Michael Adande who disclosed this in a statement on Thursday, said the vessel…
The Organisation of the Petroleum Exporting Countries (OPEC), has released a fresh report on crude oil production of its member countries, indicating that six countries increased their crude oil output while seven countries declined in production. The information is contained…
Nigeria’s crude oil production increased by 70,000 barrels per day in May according to a Reuters Survey released on Tuesday. The document showed that the country’s crude oil production averaged 1.42mbpd in May. The figure is 70,000bpd higher than the…
The Organi sation of the Petroleum Exporting Countries (OPEC) said Nigeria’s crude oil production declined to an average of 1.354 million barrels per day in March 2022. OPEC made this known in its Oil Market Report for April 2022 which…
The House of Representatives has begun investigation into crude oil production and revenue by Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in order to determine the revenue accrued to the Federation through The investigative hearing on the ‘Revenue Monitoring Exercise’ was…
…Directive will be near impossible to implement — Madaki …Senate must conduct thorough investigation into IOCs’ financial records — Bala By Uthman Salami and Ariemu Ogaga The Nigerian Senate has ordered the Federal government to stop international Oil Companies (IOCs)…
