Oil & Gas articles

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

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

We don’t need National Assembly’s permission to subsidise petrol – NNPC

The Nigeria National Petroleum Corporation, NNPC, has given reasons for paying ‘subsidy’ on petrol without appropriation from the National Assembly. The Managing Director of the Petroleum Products Marketing Company, PPMC, Umar Ajiya, said the NNPC Act is a law on its own which the corporation implements with or without the National Assembly. The PPMC is

NNPC Alerts on Fake NETCO Recruitment Advert

The Nigerian National Petroleum Corporation (NNPC) has disowned trending adverts in some social media platforms seeking for applications to fill phantom positions in the Engineering Department of the National Engineering and Technical Company, NETCO, an upstream subsidiary of the corporation. The NNPC, in a statement, said that neither the corporation nor NETCO was responsible for

Dogara to Buhari: Fuel scarcity, subsidy a ‘betrayal’

Speaker of House of Representatives, Mr Yakubu Dogara, has expressed frustration with the lingering fuel crisis, accusing the executive arm of “betrayal”. Dogara said coming after the government raised the price of petrol, with the assurance that subsidy had been removed and there will be no scarcity, the executive must give compelling reasons for Nigerians

Economists, marketers react to Kachikwu’s three suggestions to end fuel scarcity

Economists and petrol marketers have expressed diverse views on the workability of three proposals made by the Minister of State for Petroleum Resources, Ibe Kachikwu, to resolve the current fuel scarcity. While the economists say the proposals are open to corruption and will not work efficiently, the marketers see it as a good initiative to