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Oil and Gas
LONDON TRIP: Buhari Signs Deep Offshore Bill Into Law
President Muhammadu Buhari on Monday in London, assented to the bill amending the Deep Offshore and Inland Basin Production Sharing Contract .
This was announced through his official Twitter handle saying “This afternoon I assented to the…
SPDC Invests N1.2b On 84 Projects In Bayelsa Communities
The Shell Petroleum Development Company of Nigeria (SPDC) said it spent over N1.2bn on 84 projects at its clusters in Tarakiri and Oporoma in Sagbama and Southern Ijaw local government areas of Bayelsa State.
The General…
Lull In Petroleum Demand Affects Revenue Base Of Nigeria…..Sylva
The Minister of States (Petroleum Resources) Chief Timipre Sylva on Monday said as oil is depleting, the demand for it has experienced massive drop.
Sylva, said "As oil is depleting oil, the demand is also depleting. America no…
FAAC: 2009 Excess Crude Account Was $20billion Now Only $323.7m Left
The Federation Account Allocation Committee (FAAC) has disclosed that the current balance in Nigeria’s Excess Crude Account (ECA) stands at $323.692 million as of Thursday, October 17, 2019.
The ECA, which was created by former President…
SPDC Tasks Stakeholders To Condemn Crude Oil Saboteurs In Niger Delta Region
By Mattex Omonext, Delta
The Shell Petroleum Development Company Nigeria Limited (SPDC), has tasked stakeholders of the petroleum industry to outrightly condemn activities of crude oil saboteurs in the Niger Delta region.…
Nigeria to cut Crude Oil output to conform to OPEC pact — Kyari
Mele Kolo Kyari, The Group Managing Director of the Nigerian National Petroleum Company (NNPC) said on Tuesday that Nigeria will have to cut it crude oil output to conform to OPEC pact.
He said that the September crude oil and…
BORDER CLOSURE: PPPRA Announces Low Volume Of Petroleum Products Transported To Benin Republic
The Petroleum Products Pricing Regulatory Agency (PPPRA) has affirmed that the volume of petroleum products transported from the Nigerian National Petroleum Corporation fuel depots reduced in the wake of the recent closure of the Nigerian…
SPDC Deploys HD Aerial Cameras To Monitor Activities
By Mattex Omonext, Delta
Shell Petroleum Development Company of Nigeria Limited,SPDC, has deployed state-of-the-art high definition cameras for quick detection and response to crude oil spills from its facilities.
…
Why attack on Saudi leaves World without spare oil capacity
The strike on the heartland of Saudi Arabia’s oil industry, including damage to the world’s biggest petroleum-processing facility, has driven oil prices to their highest level in nearly four months.
Here are some facts about…
NNPC Tasks FRSC,Others To Keep Nation’s Roads Safe From Smoky Vehicles
By Grace Tunji, Abuja
The Nigerian National Petroleum Corporation (NNPC) has called on the Federal Road Safety Corps and other relevant agencies to rise up to their mandate of keeping the nation’s roads…