India was Nigeria’s biggest trading partner in the third quarter of 2018, gulping N719.2 billion of crude and N37.7 billion of natural gas exports from the country. India also bought cashew nuts worth N4.7 billion. According to the News Agency of Nigeria (NAN), latest figures from the National Bureau of Statistics (NBS), covering July, August…
Brazil’s Mines and Energy Minister, Moreira Franco, has emerged the winner of the Petroleum Economist’ ‘Minister of the Year’ award. The Petroleum Economist Award was created in 2014. Energy Ministers from around the world participate for this award. The honour recognises the minister who has made a significant contribution to the energy sector of his…
The task of determining the daily consumption and subsidy on petroleum products has been taken over by the Petroleum Products Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC). The development came as statistics show that the government currently pays N2.434 billion daily to subsidise petrol.It was gathered that the Petroleum Products…
Total has started up production on December 29, 2018 from the Egina field, located in around 1,600 meters of water depths, 150 kilometers off the coast of Nigeria. At plateau, the Egina field will produce 200,000 barrels of oil per day, which represents about 10 per cent of Nigeria’s production. The Floating Production Storage and…
By Oke Peter The Nigerian National Petroleum Corporation (NNPC) on Tuesday said daily crude oil production recorded an upward swing of about 2.09million barrels in the outgone 2018. The increase, which translates to 9 per cent, when compared with the 2017 average daily production of 1.86 million barrels, is an indication that the nation maintained…
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