Crude oil production hits 2.2m bpd
Crude oil production in Nigeria is now 2.2 million barrels per day, the Group Managing Director of the Nigerian National Petroleum Corporation, Maikanti Baru, said yesterday.
Nigeria earns N3.6trn from oil in 11 months
Nigeria earned about N3.549 trillion from the oil and gas sector in eleven months, between January and November 2015, according to data obtained from the Central Bank of Nigeria, CBN.
Operators predict likely crisis over reserves depletion
Petroleum industry operators have called on President Muhammdu Buhari, to urgently stimulate exploration and production activities in the country in order to place Nigeria on a competitive reserves and production status with its peers in the Organisation of the Petroleum Exporting Countries, OPEC.
Marketers accuse FG of encouraging market ‘monopoly’
PRIVATE and independent oil marketers have accused the Petroleum Products Pricing Regulatory Agency, PPPRA, of encouraging a monopolistic system in the downstream petroleum sector run by the Nigerian National Petroleum Corporation, NNPC, and major marketers.
RETURN OF N-DELTA MILITANCY? Major crude oil, gas pipelines bombed
Attacks on oil installations in Delta State entered the third day, yesterday, as militants blew-up major crude oil and gas pipelines to the Chevron Nigeria Limited, CNL, Tank Farm in Warri South West Local Government Area of the state.
Nigeria’s crude oil export dips by N4.4trn in 9 months
A sharp decline was recorded in revenue accruable to the Federal Government from the petroleum sector, as the country’s earnings from crude oil export dropped to N5.271 trillion for the nine month period, January to September 2015.
