By Energy Worth Nigeria’s oil and gas industry wednesday recorded another milestone as the $3.3 billion Floating Production Storage Offloading (FPSO) unit for the 200,000 barrels per day capacity Egina Deepwater oilfield arrived the country from South Korea.The Egina oilfield, which is being developed at the cost of $16 billion, would come on stream at…
*NNPC GMD, Dr Maikanti Baru, during the inauguration of the board. The Nigerian Petroleum Development Company (NPDC), one of the upstream subsidiaries of the Nigerian National Petroleum Corporation (NNPC), will increase its daily crude oil production to 500,000 barrels per day before 2022.This target was announced by the Group Managing Director of the NNPC, Dr….
*The impounded truck arrested by NSCDC officials enroute Benin Republic on Tuesday. The Nigerian National Petroleum Corporation (NNPC) Group Managing Director, Dr. Maikanti Baru, has commended the Niger State Command of the Nigerian Security and Civil Defence Corps (NSCDC) on the eight trucks its men apprehended in Mokwa, Niger State on Tuesday.The trucks had a…
Oil prices on Thursday hit their highest since December, 2014, pushed up after U.S. crude inventories posted a 10th straight week of declines and as the dollar continued to weaken. Oil prices rallied to three-year high, boosted by a record 10th straight weekly decline in U.S. crude inventories. International benchmark Brent futures were nudging 71 dollars per…
The Nigerian National Petroleum Corporation, NNPC posted a total crude oil and gas export sale of $239.10Million in the month of November, 2017. Details of the transactions contained in the recently released November 2017 edition of the Monthly NNPC Operations and Financial Report also indicated that the figure is 25.68 percent lower than the previous month…
*Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru. Nigeria’s daily petrol consumption has gone up to 55 million litres from the 35 million litres that it used to be because according to the Nigerian National Petroleum Corporation (NNPC), a syndicate of cross-border smugglers are now taking advantage of the current scarcity experienced…
Savannah Petroleum Plc has announced that for purposes of facilitating its proposed acquisition of certain of the Nigerian oil and gas assets of Seven Energy it has commenced, subject to the terms and conditions set forth in a confidential offer memorandum and consent solicitation statement dated today (the “Solicitation Memorandum”), an offer to exchange any and…
The Nigerian National Petroleum Corporation (NNPC) is inching closer to arriving at the choice of financiers for the Port Harcourt Refining Company Limited (PHRC), Warri Refining and Petrochemical Company Limited (WRPC) and the Kaduna Refining and Petrochemical Company Limited.The development holds the promise to boosting petroleum products supply and distribution in the CountryNNPC Group Managing…
Libya’s state energy producer National Oil Corp. announced the restart of production at Wintershall’s Sara oil fields more than two months after they were closed by protests, in the latest sign that the OPEC nation’s oil industry may be stabilizing.The fields will increase the North African country’s crude output by 57,000 bpd, according to an…
By Energy Worth There are indications that Nigeria’s oil and gas industry is set to record another milestone as the $3.3 billion Floating Production Storage Offloading (FPSO) vessel for the 200,000 barrels per day capacity Egina deepwater oilfield will arrive Nigeria from South Korea on Tuesday (today). The FPSO, which was built by Samsung Heavy…
