Oil & Gas articles

PIB: NNPC recommends splitting of petroleum licences

PIB: NNPC recommends splitting of petroleum licences

The Nigerian National Petroleum Corporation (NNPC) has recommended the splitting of petroleum licences into two components for prospecting and production phases under the draft Petroleum Industry Administrative legislation currently before the National Assembly. In a presentation at the Public Hearing organized by the House of Representatives Committee on the Petroleum Industry Administrative Bill (PIAB), Petroleum

INVESTIGATION: Cartels, empty stations and dashed hopes in the quest for kerosene

Driving through the dusty, uneven and untarred roads filled with brick red sand and pot holes as deep as craters, Mosimi, in the Sagamu area of Ogun state, seems like a million miles away. Navigating sharp bends on winding roads, driving slowly behind heavily loaded trucks and maneuvering between oil-bearing tankers is a travelers’ nightmare

OTC no longer jamboree says Baru

The Group Managing Director of the Nigeria’s National Petroleum Corporation, (NNPC), Dr. Maikanti Baru said Nigeria’s participation at the annual Offshore Technology Conference (OTC) in Houston, Texas, United States of America, had grown from mere jamboree-like activity in the 1990’s to a fully-fledged engagement where indigenous oil services companies parade their competencies and proven job

Tinubu, Adenuga, Elumelu, others own 49 expired oil block licences — Investigation

Nigerian billionaires, international oil companies and other operators have been identified as owners of the 49 oil block licences some of which expired since 2010. Our correspondent gathered that nine Oil Mining Leases (six of which are currently producing) and 40 Oil Prospecting Licences, many of which were awarded during the administration of President Olusegun

Trump berates OPEC for ‘artificially’ high oil prices — and Barkindo responds

US President Donald Trump has accused the Organisation of Petroleum Exporting Countries (OPEC) of “keeping oil prices artificially very high.” In tweet, Trump said the cartel’s pricing cycle “will not be accepted” as there is no scarcity of oil supply to warrant such “high prices.” Looks like OPEC is at it again. With record amounts

Malabu scandal: Court papers expose Nigerian officials who authorised controversial payments

Court documents filed by U.S. banking giant, JP Morgan Chase Bank, have revealed the Nigerian officials who authorised payments of $875 million to accounts linked to a former Nigerian oil minister in the fraudulent Malabu deal, Dan Etete. The details are contained in a fresh claim filed by the bank to counter the massive claim

Malabu Scandal: UK govt authorised transfer of $875 million to Etete – JP Morgan

The UK anti-money laundering unit, Serious Organised Crime Agency (Soca), gave authorisation for the transfer of $875 million to accounts linked to a former Nigerian oil minister and convicted money launderer in the controversial Malabu scandal, JP Morgan has said. The shocking revelation is contained in High Court documents filed by U.S. banking giant, JP

US, UK Envoys Meet with Otedola, Discuss Investment Opportunities

United States Ambassador to Nigeria Stuart Symington and his UK counterpart Ambassador Paul Arkwright have paid separate visits to the Chairman of Forte Oil Plc, Mr. Femi Otedola, during which the parties held discussions on the Nigerian economy and the role of businesses in the country in exploring partnerships with international businesses to create more

NNPC fast-tracks seven critical gas projects to boost power generation

The Nigerian National Petroleum Corporation (NNPC) has identified Seven Critical Gas Development Projects (7CGDP) scheduled to deliver about 3.4billion standard cubic feet of gas per day on an accelerated basis to bridge a projected medium term supply gap by 2020. Delivering the Oil Industry address at the annual Society of Petroleum Engineers’ Oloibiri lecture series,

NNPC alerts on proliferation of Fuel stations in border towns

The Nigerian National Petroleum Corporation (NNPC) has sounded the alarm bells on the proliferation of fuel stations in communities with international land and coastal borders across the country, insisting that the development has energized unprecedented cross-border smuggling of petrol to neighboring countries, making it difficult to sanitize the fuel supply and distribution matrix in the

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