NPDC Poised to Become Nigeria’s Number One E&P Company
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has said that the target of the corporation is to make its foremost upstream subsidiary, the Nigerian Petroleum Development Company (NPDC), the number one exploration and production company in Nigeria. Dr. Baru, who spoke on the sidelines of the 18th Annual […]
Rising oil price pushes petrol landing cost higher …NNPC to spend more on subsidy
The expected open market price of Premium Motor Spirit (petrol) being imported into Nigeria may have risen above N190 as crude oil price climbed towards a four-year high of $75 per barrel. As of March 20, 2018, when the international benchmark for oil prices, Brent, traded around $66 per barrel, the EOMP of petrol, according […]
NNPC awards Oando Engineering, Procurement and Construction mandate to develop Ajaokuta-Kaduna-Kano gas pipeline project
A two-party consortium consisting of Oando, in conjunction with its midstream affiliate, Axxela Limited (formerly known as Oando Gas & Power) and Oilserv Limited, has been awarded the Engineering, Procurement, Construction (EPC) mandate for the Ajaokuta – Abuja portion (Lot 1) of the Ajaokuta-Kaduna-Kano Pipeline system (AKK Pipeline) by the Nigerian National Petroleum Corporation (NNPC). […]
Forex, oil price volatility top 2018 business risks — KPMG
KPMG Nigeria has said that Foreign Exchange (Forex) and crude oil price volatility are among the top ten risks for Nigerian businesses in 2018, even as the nation’s business environment shows encouraging signs of improvement through a resurgence in consumer confidence and moderating inflation. The audit firm made this known during the launch of its […]
Natural oil, Gas Suppliers Reorganize, to Boost Downstream Operations
The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) says it has put machinery in motion to commence operation across the country. Gas The Secretary to the Board of Trustee of NOGASA, Chief Eddy Nwosu told journalists in Abuja shortly after the board met that the association would now work to support its members […]
Global oil prices are gaining momentum amidst a robust demand and a drop in supply
Global oil prices are gaining momentum amidst a robust demand and a drop in supply, stemming from several coinciding factors, and are expected to drive investment across the world’s major economies. International oil prices are rallying amidst the increased demand for fuel and declining oil stockpiles in the world’s largest economies. Meanwhile, oil supply has […]
Nigeria’s LPG sector to record $10bn growth in 8 years
PRESIDENT of the Nigeria Liquefied Petroleum Gas Association, NLPGA, Mr. Nuhu Yakubu, has predicted the nation’s LPG sector to record $10 billion growth in the next eight years. Oil pipeline In an interview with newsmen in Lagos, Yakubu, said: “Across the entire LPG value chain in the country, we are projecting a $10 billion growth, […]