Nigeria’s petrol consumption figures are crazy, opaque, says Sylva
The Minister of State for Petroleum Resources, Chief Timipre Sylva has expressed doubts over Nigeria’s daily petrol consumption figures, describing…
Nigeria’s oil revenue plunges over inability to meet January OPEC quota
Nigeria missed its crude oil output target for January 2022, pumping 1.46 million barrels per day against a target of…
NCDMB seeks to raise status of oil producers as equity financiers
The Nigerian Content Development and Monitoring Board (NCDMB), says it plans to elevate Africa’s indigenous oil producers and national oil…
Oil price bullish again, hits $91.31
Oil prices rose more than 1% on Monday to the near 7-year highs hit in the previous session, oversupply concerns…
NECA raises concerns over N3trn FEC approval for fuel subsidy
The Nigeria Employers Consultative Association (NECA) has raised concerns that the N3trillion approved by the Federal Executive Council (FEC) to…
Refineries rehabilitation gulped N100bn in 2021, says NNPC
The Nigerian National Petroleum Company Limited (NNPC) has said it spent N100bn on refineries’ rehabilitation in 2021 and that funds…
33 successful bidders lose FG’s marginal oil-field awards
A total of 128 awardees that emerged as successful bidders in the 2020 Marginal Field Bid Round have made complete…
NNPC secures $5bn funding commitment from Afreximbank for Nigeria’s upstream sector
The Nigerian National Petroleum Company (NNPC) Limited has secured a $5 billion funding commitment from the African Export-Import Bank (Afreximbank)…
Senate grills NCDMB officials over $10bn Train 7 gas project
The Senate Committee on Local Content, on Wednesday, grilled the management of the Nigerian Content Development and Monitoring Board (NCDMB)…
Oil price hits $90 per barrel
Brent oil on Wednesday surpassed $90 per barrel to strike the highest level for more than seven years, rattled by…