Energy articles

Fuel Theft: Senate Asks NNPC To Go Beyond Sacking Officials

Fuel Theft: Senate Asks NNPC To Go Beyond Sacking Officials

The Senate has commended the Nigerian National Petroleum Corporation (NNPC) for responding to the motion moved during a plenary session by the Chairman, Committee on Petroleum Downstream Sector, Senator Kabiru Marafa, on the theft of petroleum products kept in the farm tanks of two oil companies and urged the corporation to take more radical measures

Nigeria sold $6.7bn less crude in 2016 – Report

The total value of crude oil sold by Nigeria between January and December 2016 dropped by $6.7 billion from $40.5 billion in 2015 to $33.8 billion; a comparative analysis of official crude oil lifting values published by the Nigerian National Petroleum Corporation (NNPC) has shown. The monthly NNPC operations report for January 2017 released on

OPEC figures show oil output cuts exceed pledge in March

OPEC states cut oil output in March by more than they pledged under supply curbs, according to figures the exporter group uses to monitor its supply, extending a record of higher-than-expected adherence to its first production cut in eight years. The Organisation of the Petroleum Exporting Countries agreed to cut output by about 1.2 million barrels per day (bpd) for

NEITI calls for investigation of $15.8 billion NLNG dividends

The Nigeria Extractive Industries Transparency Initiative (NEITI) has called on the Federal Government to institute an independent investigation into the status and utilisation of all dividends and loan repayments by the Nigeria LNG Limited (NLNG) to the Nigerian National Petroleum Corporation (NNPC) from 2000 to 2014. The Executive Secretary of NEITI, Waziri Adio, made the

NPA to spend N233.8 billion in 2017 budget

The Nigerian Ports Authority (NPA) has presented a budget of N233.8 billion to the National Assembly for the 2017 fiscal year. The Managing Director, NPA, Hadiza Bala-Usman, who presented the budget estimates to the Chairman, National Assembly Committee on Ports Harbours and Waterways, Patrick Asadu, expressed determination to turn things around at the ports. The

Niger Delta indigenes to get oil blocks to douse tension

Experts fret over petroleum industry outlook To douse tension in the oil-rich Niger Delta, the Federal Government plans to award to indigenes of the region marginal fields’ oil blocks abandoned by the oil majors as being not commercially viable. The plan is in line with the government’s larger objective of reducing major incidents of restiveness