The Nigerian National Petroleum Corporation, NNPC, incurred N45.783 billion as under-recovery on Premium Motor Spirit, PMS, also known as petrol, in the month of January 2018, according to data obtained from the corporation.

The Federal Government, yesterday, disclosed that N1.7 trillion would be pumped into the Niger Delta between now and 2021 to pursue the development of the region.

ExxonMobil affiliate, Mobil Producing Nigeria Unlimited, MPN, operator of the Nigerian National Petroleum Corporation, NNPC/MPN Joint Venture, has announced plans to invest over N13 billion (about US$43 million) in three sectors mainly health, economic empowerment and education, in Akwa Ibom State in the next 18 months.

Oil price is now trending towards $80 per barrel following bullish trading that heightened yesterday in the international market which saw the price leap to $78 yesterday, up from $67 April average.

Oil prices held steady on Tuesday as the dollar remained near a four-month high, with crude supported by worries that U.S. President Donald Trump may pull out of the Iran nuclear deal.

The Minister of State, Petroleum Resources, Dr. Ibe Kachikwu has denied his interest and involvement in Oil Mining lease, OML 11, transferred to Chevron Nigeria limited.

Despite innovations, there are indications that oil and gas would continue to dominate the global energy mix, at least in short and medium term. Consequently, many nations, including African countries have resolved to invest massively in oil and gas exploration and production, targeted at making new finds, increasing reserves and production capacity to guarantee commercial supplies to domestic and global market.

The Department of Petroleum Resources, DPR, said it has granted licences for the establishment of modular refineries to 25 investors as against 38 reported.

British Petroleum, BP has appointed Helge Lund to succeed Carl-Henric Svanberg as chairman of BP

It is imperative to note that the PIGB is less robust and has less scope than the original PIB as it does not delve into areas like fiscal framework, gas framework, host community issues, etc. The Petroleum Industry Bill debated over a decade was created into sections to help pass it into law more easily.

The Nigerian National Petroleum Corporation, NNPC, said that it spent N144.53 billion in subsidising premium motor spirit, PMS, also known as petrol in 2017, translating to an average of N366 million per day.

The Nigerian Content Development and Monitoring Board (NCDMB) and the Nigerian National Petroleum Corporation (NNPC) will before the end of 2018 start using a one-stop shop arrangementfor reviewing and approving oil industry projects and contractsin a bid to shorten the industry contracting cycle.

Chevron Nigeria Limited (CNL), operator of the NNPC/CNL Joint Venture, received an award for sustained support for small businesses in Nigeria during the 4th edition of the Sub-Sahara Africa Upstream Oil and Gas summit and exhibition held in Abuja from Tuesday April 11 to Friday April 13, 2018.The Summit was organized by Zenith Professional Training Limited.

Stakeholders will next month meet to exchange ideas with the National Oil Spill Detection and Response Agency, NOSDRA, on the sensitization of oil spill incidents, response and management in oil producing areas in the Niger Delta. 

Total Exploration and Production Nigeria Limited has stated that it has entirely eliminated routine gas flaring in both its onshore and offshore operations, stating that Egina is a zero gas flare project.