NNPC targets China to boost Crude oil reserves
The Nigerian National Petroleum Corporation says strategic partnership and new investments in the Upstream Petroleum Sector are essential to actualise the growth of the nation’s crude Oil reserves.
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Tag: crude oil
Crude oil thieves are in for hard time – IGP’s task force
Jibrin, an Assistant Commissioner of Police, gave the warning on Tuesday during his maiden visit to the Warri unit of the task force attached to the Pipeline and Products Marketing Company ...
Court adjourns FG’s $406.7m debt recovery suit against Shell
A Federal High Court Lagos on Thursday adjourned until June 19, hearing in a debt recovery suit filed by the Federal Government, against Shell Western Supply & Trading Ltd, over ...
Second term: IPMAN urges FG to encourage local refiners
The Independent Petroleum Marketers’ Association of Nigeria has urged the Federal Government to encourage local refiners, to boost local refining of crude oil in the country.
Nigeria to benefit huge forex from palm oil — NPPAN
The National Palm Produce Association of Nigeria says the country will benefit a lot from Crude Palm oil as a leading foreign exchange earner with its price now 500 dollars ...
FG should pay attention to palm oil, its price higher than crude oil’s – Emefiele
The Governor of the Central Bank of Nigeria, Godwin Emefiele, on Wednesday urged the Federal Government to attach premium to palm oil production, saying its price is higher than crude ...
$55m Crude Oil shipment: Why Court dismissed FG’s suit against Agip
A Federal High Court in Lagos on Wednesday dismissed a $55 million debt recovery suit filed by the Federal Government of Nigeria against Agip Oil Company Limited over insufficient evidence.
Nigeria’s daily crude production in 2018 stood at 2.019m barrels – NNPC
The Nigerian National Petroleum Corporation says that the national average daily crude oil production stood at about 2.019 million barrels in 2018.
OPEC to scrap April meeting but keep oil cuts in place
OPEC is set to scrap its planned meeting in April and decide instead whether to extend oil output cuts in June, when the market will be able to assess the ...
Oil dips on US stocks build, production outlook
Oil prices slipped on Wednesday as bullish output forecasts by two big US producers and a build in weekly US crude stockpiles outweighed ongoing Organisation of Petroleum Exporting Countries-led production ...
Crude Oil Shipment: Court adjourns FG’s suit against Chevron, Total
A Federal High Court Lagos on Wednesday adjourned until April 30 the $69 million suit filed by the Federal Government of Nigeria against Chevron Petroleum Nigeria Limited, seeking to recover ...
Kachikwu commends DPR on crude oil tracker, other automation initiatives
Dr Ibe Kachikwu, Minister of State, Petroleum Resources, has commended the Department of Petroleum Resources on its newly computerised Crude Oil and LNG Tracking, Automatic Downstream System and other automation ...
Crude oil theft: FG set to track vessels
The Federal Government says it has commenced the monitoring and tracking of vessels involved in crude oil lifting to help curb crude theft in the country.
Nigeria earns $640.35m from Crude export in October – NNPC
The corporation disclosed this in its monthly Financial and Operation report for October 2018, released in Abuja on Wednesday.
Oil crimes: Nigeria lost $2.8b in revenue in six months – Report
The United Nations has said Nigeria lost an estimated $2.8 billion in revenues in 2018 mainly due to oil-related crimes.
Oil prices steady on trade talk hopes, OPEC cuts
Oil prices were stable on Tuesday, supported by hopes that talks in Beijing between US and Chinese officials might defuse trade disputes between the world’s biggest economies.
Oil kicks off 2019 with losses on signs of economic slowdown, surging supply
Oil markets dropped by around one per cent in 2019’s first trading on Wednesday, pulled down by surging US output and concerns about an economic slowdown in 2019 as factory ...
Oil prices slip toward 18-month lows
Oil prices fell on Friday ahead of the New Year holiday as global crude benchmarks moved back toward their lowest levels in more than a year.
Crude oil: A blessing too much, by Zayyan Usman Gwandu, Taremi Zuokumor and Maryam Zakari
Following the discovery of crude oil by Shell D’Arcy Petroleum, pioneer production began in 1958 from the company's oil field in Oloibiri in the eastern Niger Delta. By the late ...
It’s a shame we don’t know how much oil Nigeria is producing – Falana
Falana spoke at an interactive Media Roundtable on Impact of Non-payment of Capital Gain Tax and Other Levies in the Oil and Gas Sector on the Socio-Economic Development of the ...
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