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Discover latest news and analysis, headlines, blogs and videos about Nigeria’s Niger Delta Regions, Nigeria’s Oil wells and locations, Nigeria’s Key Oil companies and local refinery news and updatss

PPPRA Increases Petrol Pump Price To N143.8 Per Litre

The Petroleum Product Pricing Regulatory Agency (PPPRA) has announced an upward review of the retail pump price of petrol from the previous N121.50 . This was revealed in a circular dated July 1st, where the downstream regulator said oil marketers are now expected to sell...

Nigeria makes changes to reduce risk of marginal oilfield disputes

Tife Owolabi YENAGOA, Nigeria June 30 - Nigeria has changed the way marginal oilfields are allocated to avoid legal problems that bedevilled a previous bidding round, the director of the Department of Petroleum Resources (DPR) said on Tuesday. Nigeria in early June launched its first...

UPDATED: Oando, Oilserv to invest $2.8 billion in Ajaokuta-Kaduna Portion of AKK Project

Oando Plc has partnered Oilserve Limited to construct a 303.4km linear pipeline system for the Ajaokuta to Kaduna portion of the $2.8 billion, 40 inch by 614km Ajaokuta-Kaduna-Kano Gas Pipeline Project, the AKK Pipeline. According to a statement released by Oando through the Nigerian Stock...

‘Fuel made from Nigeria’s illegal refineries in Niger delta have higher quality than imported petrol’

Samples from illegal refineries in Niger delta found to be of a higher quality than imported petrol in new analysis Black market fuel made from stolen oil in rudimentary “bush” refineries hidden deep in the creeks and swamps of the Niger delta is less polluting...

Iraq, Nigeria reduce output but yet to fully comply as OPEC oil output sinks, Saudi, others deepen cut, survey shows

Record OPEC+ oil supply cut took effect on May 1 Saudi Arabia cuts much more than quota, at 138% compliance Output by country: By Alex Lawler LONDON, June 30 (Reuters) - OPEC oil output hit the lowest in two decades in June as Saudi Arabia and other Gulf...

Nigeria oil behemoth chief rejects critics calls for breakup of unprofitable state oil corp

NNPC has published first accounts in 43-year history as critics call for group to be dismantled The head of the Nigeria National Petroleum Corporation promised “a new season of transparency and accountability”, pushing back against critics calling for the break-up of the state oil company...

The Long Road To Global Oil Demand Recovery

Fuel demand in the United States has been gradually increasing in recent weeks, clawing back over half of the consumption lost during the first couple of weeks of lockdowns. Gasoline demand has been rising since early April as lockdowns eased and...

Oil price dips on global spike in coronavirus cases, posts second negative week in three

Oil prices dipped on Friday, erasing earlier gains, as new coronavirus cases spiked in the United States and China, and on growing concerns about rising U.S. output ticking up while crude stockpiles sat at record highs. Brent crude futures were 14 cents lower at $40.9....

Oil discovery in Northern parts of Nigeria will boost local content consumption, Experts say

The recent announcement by the Nigerian National Petroleum Corporation (NNPC) on the prospect for crude oil exploration in Plateau State has added to the growing number of oil exploration sites in the North. Borno, Bauchi, Gombe and Niger states have all been discovered to have...

India emerged highest buyer of Nigeria’s crude oil in Q1 as export dipped by 18.85%

Abuja — Nigeria’s crude oil export dropped by 18.85 per cent to N2.945 trillion in the first quarter of 2020, compared to crude oil export of N3.629 trillion recorded in the fourth quarter of 2019, according to data released by the National Bureau of...
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