Indigenous oil companies have recorded significant increases in their crude oil production, with their total output rising by 214 per cent in one month, the latest report from the Nigerian National Petroleum Corporation (NNPC) has indicated. The data obtained by our correspondent on Friday showed that the total oil production from the indigenous independent firms…
The Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Dr. Maikanti Baru, on Friday in Zaria proffered illuminating guidelines for Nigeria to achieve the much desired diversification of its economic base away from the vulnerability and fragility of oil and gas revenue. Speaking at the 40th Pre-Convocation Lecture of the Ahmadu Bello University, Baru,…
Operatives of the Nigerian Security and Civil Defence Corps (NSCDC) have arrested 33 suspected oil thieves and impounded 19 trucks laden with illegally refined petroleum products worth millions of naira. Rivers State Commandant of NSCDC, Mr. Mohammed Haruna, told newsmen while parading some of the suspects in Port Harcourt on Friday that they (suspects) were…
Organisation for the Petroleum Exporting Countries (OPEC) will have to decide whether to extend global oil cuts without knowing whether they’re triggering a new flood of rival supply from U.S. shale producers. Analysts gave differing outlooks for U.S. shale output in a briefing to officials from the Organization of Petroleum Exporting Countries, stoking concern ahead of…
Vandals struck at Tower 53, Itu-Adiabo 132kV transmission line located in a valley in Inuakpa, Odukpani Local Government Area in Cross Rivers State and cut down the transmission tower which TCN had earlier taken out for transmission lines re-conductoring to enhance its capacity. A release signed by the General Manager, Public Affairs, Transmission Company of…
Danos has completed water injection piping work for an offshore platform operated by a major oil and gas producer subsidiary off the coast of Equatorial Guinea. The on-time, incident-free fabrication project was completed at Danos’ Amelia Integrated Services Complex. The project required five-and-a-half months to complete, with Danos posting a weld-repair rate of 0.0007% for…
As part of efforts to transform the Nigerian National Petroleum Corporation (NNPC) into an integrated energy company, the Corporation has signed a Memorandum of Understanding (MoU) with the Kebbi State Government to build an 84 million litres per annum capacity fuel-ethanol project. Speaking during the signing of the MoU between the NNPC and the Kebbi…
By Oke Peter Eko Electricity Distribution Company (EEDC) has announced planned power outage programme that will affect some residents of Lagos metropolis for five weeks. Eko Disco’s General Manager, Corporate Communications, Mr. Godwin Idemudia said in a statement, on Tuesday, that the planned outage was to enable Transmission Company of Nigeria (TCN) to carry out…
House of Representatives Committee on Public Petitions says it will investigate alleged missing $60.3bn Petroleum Profit Tax and Royalty revenues at the Central Bank of Nigeria. Chairman of the committee, Mr Uzoma Nkem-Abonta (Abia-PDP), stated this on Wednesday, in Abuja, following failure by the CBN to appear before the committee to defend its submissions over…
The Nigerian National Petroleum Corporation (NNPC) has secured a total of $3.7bn in Alternative Financing Agreement in the last three years, Group Managing Director of the Corporation, Dr. Maikanti Baru has said. Dr. Baru, who made this known while speaking at the 35th Annual Conference of the Nigerian Association of Petroleum Explorationists (NAPE), in Lagos on…
