OPEC January oil production rises for 7th month, Nigeria limits gain

OPEC January oil production rises for 7th month, Nigeria limits gain

OPEC oil output has risen for a seventh month in January, a Reuters survey found, after the group and allies agreed to ease record supply curbs further, although an involuntary drop in Nigerian exports limited the increase. The 13-member Organization of the Petroleum Exporting Countries is pumping 25.75 million barrels per day (bpd) in January,…

Read More
Morocco, Nigeria renew commitment to gas pipeline, fertilizer plant projects

Morocco, Nigeria renew commitment to gas pipeline, fertilizer plant projects

King Mohammed VI held a telephone conversation yesterday, January 31, with President of Nigeria Muhammadu Buhari, a statement from Morocco’s Royal Cabinet announced. During the call, the two heads of state welcomed the positive dynamic that bilateral relations between Morocco and Nigeria have witnessed since 2016. They recalled King Mohammed VI’s visit to Nigeria in…

Read More
ExxonMobil, Chevron CEOs discussed, mulled possible merger in 2020

ExxonMobil, Chevron CEOs discussed, mulled possible merger in 2020

ExxonMobil and Chevron executives discussed the possibility of a merger last year as the two oil giants were battered by the pandemic, The Wall Street Journal reported Sunday. Chevron CEO Mike Wirth and his Exxon counterpart Darren Woods discussed merging as demand for oil and gas plummeted due to restrictions to stem the spread of…

Read More
FG looking to transport petroleum products by rail – DPR

FG looking to transport petroleum products by rail – DPR

Operation Controller, Department of Petroleum Resources (DPR), Benin field office, Ebi Ogiowo, has said that the federal government is considering transportation of petroleum products to various part of the country through the rail system. Ogiowo said this at the weekend while speaking with journalists on the sideline of the 2020 annual meeting with petroleum products…

Read More
Total Nigeria issues N15bn commercial paper

Total Nigeria issues N15bn commercial paper

Total Nigeria PLC (“TNPLC” or the “Company”) says it has successfully issued and quoted a N15 billion Series 1 and 2 Commercial Paper issuance (the “Issue”) under its N30 billion CP programme registered with the FMDQ Securities Exchange Limited in December 2020. The Issue was TNPLC’s debut issuance in the Nigerian debt capital markets. It…

Read More
NNPC, partners sign FID for $3.6bn Brass Methanol Plant

NNPC, partners sign FID for $3.6bn Brass Methanol Plant

The Nigerian National Petroleum Corporation (NNPC) and its partners yesterday took a Final Investment Decision (FID) on the $3.6bn Integrated Gas Processing and Methanol Plant in Odioma, Brass Island, Bayelsa State. The project is being executed by the Brass Fertiliser and Petrochemical Company Limited (BFPCL), an incorporated entity owned by the Nigerian National Petroleum Corporation…

Read More
Nigeria sees pipeline ruptures increase by 10%

Nigeria sees pipeline ruptures increase by 10%

The country has recorded an increase of 10 per cent in the number of pipeline vandalised. The increase in rupture is contained in the October 2020 edition of the Nigerian National Petroleum Corporation Monthly Financial and Operations Reports (MFOR). The report indicated that for the month under review, 23 pipeline points were vandalized representing about…

Read More
Dutch court rules Shell Nigeria must pay for oil spill damage

Dutch court rules Shell Nigeria must pay for oil spill damage

A Dutch court has ordered Shell Nigeria to compensate farmers for major oil spills they say caused widespread pollution. On Friday an appeals court in The Hague rejected Shell’s argument that the spills were the result of sabotage, saying not enough evidence had been provided. The court ordered Shell’s Nigerian subsidiary to compensate the farmers…

Read More
Divestments from oil sector won’t end carbon emissions – OPEC scribe

Divestments from oil sector won’t end carbon emissions – OPEC scribe

Secretary-General of the Organisation of Petroleum Exporting Countries (OPEC), Dr. Mohammed Barkindo, yesterday said the current moves by countries and big investors to divest from the oil and gas industry will not reduce global emissions. He explained that rather than shutting down the industry by withdrawing investments, the international community should focus on reducing greenhouse…

Read More