The Director of Petroleum Resources, Engr. Sarki Auwalu has inaugurated the network code operationalisation teams for the full implementation of the Nigeria Gas Transportation Network Code (NGTNC) which was recently launched by the Honorable Minister of State Petroleum Resources with a six-month mandate to go live. The Director in his address at the virtual inauguration…

The United States’ import of Nigeria crude oil plunged by 63.03 per cent in the first quarter of this year, compared to the last quarter of 2019. Latest data from the US Energy Information Administration showed that the country imported 5.53 million barrels of crude from Nigeria in Q1 2020, down from 15.07 million barrels…

The Nigeria National Petroleum Corporation (NNPC) on Wednesday said it has commenced crude oil exploration along the Bida Basin spreading across eight local government councils of Niger state, two in Kwara state and one in Kogi state. Group managing Director (GMD) of the NNPC, Mallam Mele Kolo Kyari, who disclosed this when he paid courtesy…

The crises rocking the power sector appear to be over as stakeholders in the country’s gas-to-power value chain yesterday decried the mounting debt profile in the power sector. President, Nigerian Gas Association (NGA), Mrs. Audrey Joe- Ezigbo, voiced the frustration of her members involved in supply of gas to power plants during a webinar seminar…

Nigeria lost $48 million to pipeline vandalism and crude oil theft between January and June 2020, it was learnt on Tuesday. It was further learnt that it is practically impossible for now to stop the smuggling of crude oil products across the country’s borders to neighbouring countries. This is even as the Federal Government requires…

The World Bank and the Extractive Industries Transparency Initiative (EITI), the global standard for the promotion of openness in the oil, gas and mineral resources management, have said Nigeria has so far recovered about $3 billion as a result of more transparency in the sector. A report released by the World Bank’s Extractives Global Programmatic…

Rivers Governor Nyesom Wike may be forced shut down the oil and gas-rich Bonny Island considering increasing number of coronavirus cases in the state, especially on the Island. Wike gave the hint on Tuesday when he met with the king and traditional rulers of Bonny in Government House, Port Harcourt. Rivers State took the second…

The Nigerian National Petroleum Corporation (NNPC), has published its audited financial statements for 2018 financial year. The audited financial statements for the state-owned oil company and its 20 subsidiaries and business divisions, were signed by the Group Managing Director of NNPC, Malam Mele Kyari and the Chief Executives of the various subsidiaries. In the corporation’s…

Oil demand is recovering from the greatest fall in its history in 2020, the International Energy Agency (IEA) said on Tuesday, but less flying due to coronavirus fears means the world will not return to pre-pandemic demand levels before 2022. “Our first forecast for 2021 as a whole shows demand growing by 5.7 million barrels…