NNPC to boost domestic market gas delivery with launch of standard code
Chris Ikosa
August 13, 2020
…Code to standardize gas value-chain …domestic consumption still low at 609.3 MMcf As Nigeria sets code to standardize its gas value-chain, the national oil company, NNPC says it is committed to working with relevant partners and stakeholders in the oil and gas sector to boost delivery of gas to the domestic market. Known […]
NNPC pens agreement to resolve disputes over offshore-oil exports
Businessam StaffAugust 7, 2020
The Nigerian National Petroleum Corporation has penned a preliminary agreement to resolve a dispute with two energy companies over oil exports, signaling a move toward resolving similar disagreements with other oil majors on revenue from several offshore oil fields. The NNPC said in a statement on Twitter it signed a deal Thursday with China’s Cnooc […]
Eni absolves management from OPL 245 payments
Ben EguzozieAugust 4, 2020
Says development of field to bring great economic benefits to Nigeria Eni, the Italian oil giant, has published documents on its website in which it said, depict that its management was never complicit nor had any knowledge of the payments made in the multi-billion-dollar OPL 245, also called Malabu oil field. “Eni reiterates the total alienation of […]
Oil giant, Saudi Arabia, records $29bn deficit in Q2 as oil demand continues to fall
Businessam StaffJuly 29, 2020
World oil-producing giant, Saudi Arabia, has recorded an oil revenue deficit of $29 billion for the second quarter of the year due to continued drop in oil prices and oil demand, which affected the incomes of oil producing and exporting countries. A Reuters report monitored by Business A.M. revealed that the country’s oil incomes for […]
NNPC records N30.8bn loss in April
Businessam StaffJuly 16, 2020
The national oil company, the Nigerian National Petroleum Corporation incurred a loss of N30.81bn in April 2020, representing a continuatoio of the streak of losses posted by the firm over the past couple of months. The loss also represents over 200 per cent increase in its operating deficit, latest figures from the oil firm showed […]
Only 11% of Shell’s oil polluted Ogoniland undergoing HYPREP clean-up, says Friends of the Earth
Ben EguzozieJuly 15, 2020
UNEP identified 21 impacted areas in Ogoniland Godwin Uyi Ojo, executive director of Environmental Rights Action/ Friends of the Earth, Nigeria (ERA/FoEN) says a recent study the NGO carried out on the 21 sites being currently cleaned up by the Federal Government agency, Hydrocarbon Pollution Remediation Project (HYPREP), represent only 11 percent of the entire […]
SEPLAT taps top banker, accountant Onwuka, as finance chief, ED
Businessam StaffJuly 11, 2020
Banker was GMD of acquired Diamond Bank in heyday Seplat Petroleum Development Company Plc, the dual Nigerian Stock Exchange and London Stock Exchange listed Nigerian indigenous oil and gas company, has tapped top Nigerian banker and accountant, Emeka Onwuka, as its chief financial officer and executive director, the company announced at the weekend. Onwuka once […]
Atlas Petroleum resumes mining at OML 109 Ejubele marginal field
Ben EguzozieJuly 9, 2020
14 mapped prospects Field holds 500mb oil equivalent Atlas Petroleum International, the Nigerian indigenous oil production company, with operation in 12 African countries, has announced resumption of oil mining activities and well interventions on oil morning lease (OML) 109 in Nigeria, which would enhance production from the Ejulebe marginal field. The oil block was awarded […]
New fuel price band signals Nigeria’s gradual exit from subsidy regime
Phillip IsakpaJuly 1, 2020
After decades of an opaque, flawed and corruption-laden petrol subsidy regime, a new pump price band advised by the Petroleum Products Pricing Regulatory Agency (PPPRA) that will see petrol price move from N123.50 to between N140.80 and N143.80 per litre this July, is being seen as Nigeria finally signalling its willingness to allow the market […]
We won’t give up petrol pricing control function –PPPRA
Businessam StaffJune 29, 2020
The Petroleum Products Pricing Regulatory Agency (PPPRA) has said it does not intend to give up its petrol pricing control function amid calls by operators in the oil and gas sector for it to do so. The PPPRA said it does not arrive at petrol controlled price alone. adding it does this in concert with […]