The Nigerian National Petroleum Corporation (NNPC) has disclosed that the volume of oil deposits Nigeria holds declined by 2.16 per cent between 2018 and 2019 and is now 36.89 barrels (bbls). While the country’s oil deposit reduced by this amount, the corporation however noted that it recorded a 1.27 per cent increase in natural gas…

The Government of Akwa Ibom State has received official gazette from the federal government, signaling the approval for 50,000 hectares Liberty Oil and Gas Free Zone in the state. The Gazette of the approval was presented to Governor Udom Emmanuel by a delegation from the Oil and Gas Free Zones Authority (OGFZA), led by its…

Independent auditors and management of the Nigerian National Petroleum Corporation, NNPC, have raised doubts over the ability of the corporation to continue as a going concern, following rising losses and negative capital as a result of excess of liabilities over its assets as stated in its recently published 2019 Audited Financial Statement. In the financial…

The Managing Director and Chief Executive Officer of Nigerian Railway Corporation (NRC), Engr. Fidet Okhiria, weekend disclosed that the Nigerian National Petroleum Corporation (NNPC) is currently discussing with management of NRC in respect of moving materials for the construction of the 614Km Ajaokuta- Kaduna-Kano gas pipe line, known as AKK project. The NRC boss gave…

Shell Nigeria Gas (SNG) has commenced City Gate Gas Plant, a project to ensure safe transmission of gas to power booming businesses in Aba, Abia state’s commerce hub. Ed Ubong, Managing Director of SNG, a Shell company in Nigeria, said, “City Gate Plant will enable SNG remove more impurities from natural gas, odorise the gas…

The Nigerian Independent Petroleum Company, (NIPCO), said it is providing plethora of infrastructure to facilitate use of gas as the preferred energy source to motorist and industrial concerns. NIPCO, also expressed its commitment to ensure that more vehicles run on gas in Nigeria to improve efficiency and guarantee cleaner environment. The Managing Director, NIPCO Gas…

The Minister of State Petroleum Resources, Timipre Sylva, says Nigeria will raise local content in the oil and gas sector from its present 10 per cent to 40 percent by 2027. Speaking during a tour of facilities of Lee Engineering and Construction Company’s fabrication plant, in Warri, Delta State, Sylva said it was only through…

Crude oil production in Nigeria dropped by 1.74 million barrels in September, figures from the just released oil market report of the Organisation of Petroleum Exporting Countries showed. In the OPEC report, dated October 13, the group outlined the crude oil production figures of its 13-member countries based on direct communication with the various nations.…

Kidnappings rose by 40% in the Gulf of Guinea in the first nine months of this year, and the region off West Africa’s coast now accounts for 95% of global maritime kidnappings, the International Maritime Bureau (IMB) said on Wednesday. Eighty seafarers were taken in the Gulf of Guinea, a 2.3 million sq km (888,000…