Sunday, March 26, 2017
Oil

Nigeria: NNPC Shaves 72% off Re-Negotiated Deep Offshore Rig-Rate

The Nigerian National Petroleum Corporation, NNPC, has significantly trimmed down the cost of its deep offshore rig-rate downwards by about 71.7 per cent in a renegotiated deal. The Group Managing Director of the corporation, Maikanti...
Oil

Nigeria’s State Oil Firm NNPC loses N197bn in 2016

Challenging factors including disruption of operations in the downstream sector has cost The Nigerian National Petroleum Corporation, NNPC a total loss of N197.49 billion at the end of the 2016 financial year. According to data...
Kachikwu

Nigerian govt, Dangote to End Fuel Importation By 2019 – Minister

Concerted efforts by the Nigerian government and private sector initiatives by the Dangote Group is capable of ending the dependence on imported refined petroleum products by 2019, says Ibe Kachikwu, the Minister of State...
Kachikwu

Nigeria Capable of three million barrels of Crude Per Day – Kachikwu

Nigeria's Minister of State for Petroleum Resources , Ibe Kachikwu, says that Nigeria has daily production capacity of three million barrels of crude oil from the Niger Delta region. Mr. Kachikwu stated this at a...
Petroleum Industry Bill

Nigeria: Petrol Price Still N145, Says NNPC

Nigerian National Petroleum Corporation has enjoined motorists in Abuja and its environs, and indeed the federation, not to engage in any panic buying of petroleum products. NNPC assures motorists that the Corporation has 1.3billion litres...
Diesel

Ghana: Currency fluctuation destabilizes Fuel price

The Chamber of Petroleum Consumers (COPEC) says the continuous fall of the cedi against the dollar has resulted to the recent price hikes of fuel at the pumps. It says the situation has resulted in...

50 Firms bid for NNPC’s Boat Supply Term Contract

A total of 50 companies recently submitted bids to partake in the provision of sea worthy Tug boats on charter time basis for the maritime operational requirements of the Nigerian state owned oil corporation...
Oil

Nigeria: Schlumberger Partners NNPC on Frontier Exploration

Nigeria's state oil corporation has partnered multinational oil service company, Schlumberger, in the deployment of state-of-the-art technology in the ongoing search for commercial hydrocarbon deposits in the Chad basin and other parts of the...
Tullow Oil

Tullow Sells Stake in Oil Fields to Total Uganda for $900m

Tullow Oil plc has agreed to transfer 21.57 per cent of its 33.3 per cent stake in three oil exploration sites in Uganda to Total Uganda for $900 million. “The deal will secure future cash...

39 Firms Contracted to Lift Nigerian Crude in 2017

The Nigerian National Petroleum Corporation (NNPC) on Wednesday released names of 39 companies that will be involved in the sale and purchase of Nigerian crude for 2017/2018. Announcing the results on its Website, the Group...