Nigeria loses N2.6trn to crude oil theft in 2 years – NNRC
Nigeria lost N1.6 trillion in 2016 and N995 billion in 2017 to crude oil theft, translating to a loss of about $8.9 million daily and a combined loss of N2.6 trillion over the two-year period, according to a draft report presented yesterday, by the Nigeria Natural Resource Charter, NNRC.
Breaking: FG to commence crude oil tracking by 2019
The Federal Government, Moday, stated that from 2019, the country would begin tracking Nigeria’s crude oil and would be able to account for every drop of the commodity produced in the country.
Henceforth, Nigeria to bear costs, risks of crude oil sales — NNPC
The Nigerian National Petroleum Corporation, NNPC, Thursday, said it plans to undertake a review of its approach to crude oil sales, declaring that in the days ahead, it would commence the sale of more of the country’s crude oil on a Cost, Insurance and Freight, CIF, basis.
Crude oil allocation follows strict process, NNPC warns Nigerians
The Nigerian National Petroleum Corporation, NNPC, Sunday, disclosed that its crude oil allocation programme follows strict procedures, processes and standards, while it warned unsuspecting members of the public against the activities of scammers.
Crude oil output increased mostly in Libya, Nigeria, Saudi Arabia – OPEC
Crude oil production by OPEC members increased slightly in July, including Saudi Arabia, which had championed efforts by the oil cartel and allies to extend an output freeze.
Nigeria’s crude oil output rise to 2.06m b/d in July — FG
NIGERIA’s average oil production including condensates, increased to 2.06 million barrels per day (mb/d) last month, from 2.05 million b/d in June, as the country continued to ramp up production amidst retention of output concession from the Organisation of Petroleum Exporting Countries (OPEC), the Ministry of Petroleum Resources has revealed.
