Oil & Gas articles

OPEC’s March Oil Output Sinks to 11-month Low

OPEC’s March Oil Output Sinks to 11-month Low

Crude oil production by the Organisation of Petroleum Exporting Countries (OPEC) fell in March to an 11-month low as a result of declining Angolan exports, Libyan outages and a further slide in Venezuelan output, thus increasing compliance with a supply-cutting deal by the oil producers to another record. OPEC pumped 32.19 million barrels per day

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

Barkindo: Oil producers need $10.5tr investments to meet rising world oil demand

Mohammed Barkindo, secretary general of the Organization of Petroleum Exporting Countries (OPEC), has expressed concern over the powerful cartel that gives rise to the continued instability in the international oil market. He said their actions have impacted on the ability of the oil producing countries to raise about $10.5 trillion in investments required to meet

Baru calls for closer cooperation between Government, IOCs

The Group Managing Diurector of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru, has called for closer cooperation between government and international oil corporations operating in Nigeria. Dr. Baru made this call on Monday on the opening of the four-day of the Nigeria International Petroleum Summit, holding at the International Conference Centre in Abuja. The

Kachikwu directs NNPC to clear fuel queues before Sunday

The Minister of State for Petroleum Resources, Ibe Kachikwu, on Thursday directed the Nigerian National Petroleum Corporation (NNPC) to ensure that petrol queues were cleared in Abuja before Sunday. Mr. Kachikwu gave the directive at a world news conference to intimate journalists on the upcoming international oil and gas conference and exhibition tagged the Nigerian

REVEALED: Militants not solely responsible for oil production losses

Nigeria struggled to meet its 2017 oil production target of 2.3mbpd and missed revenue projections for the year’s budget but militant attacks are not solely responsible for the cuts, TheCable Petrobarometer can report. Production averaged 2.05mbpd at the end of December 2017 because of a combination of violent attacks by militants and technical challenges. According

‘No evidence linking Adoke, Etete to charges’ — Malami writes Magu on OPL 245

Abubakar Malami, attorney-general of the federation (AGF), has advised Ibrahim Magu, acting chairman of the Economic and Financial Crimes Commission (EFCC), that nothing in the court charges links the accused to the alleged offence in the OPL 245 saga. Mohammed Adoke, former minister of justice and attorney general, and Dan Etete, a former minister of

Baru commends Civil Defence Corps on nabbing of smugglers of 469,000 litres of petrol

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 combined capacity of 469,000 litres and were set on cross-border diversion