Fuel prices halve Nigerian oil revenues, piling on debt pressure
High fuel prices have continued to put pressure on Nigeria’s coffers, cancelling out oil price gains for Nigerian National Petroleum Corp. (NNPC).
Nigerian National Petroleum Corp. (NNPC)
NNPC auditor repeats going concern worries, despite 2020 profit
Nigerian National Petroleum Corp. (NNPC) reported a profit for 2020, but there are challenges ahead.
Nigerian oil giant considers IPO after first profit in 44 years
Nigeria’s state oil company is considering an initial share sale after posting the first profit in its 44-year existence.
NPDC claims Kolmani River success, launches infrastructure bid
Nigerian Petroleum Development Co. (NPDC) has issued a request for expressions of interest (EoI) on the development of two licences in Nigeria’s northeast.
NPDC claims victory over Shell at OML 11
Nigerian National Petroleum Corp. (NNPC) has claimed victory over Shell at OML 11, following an Appeal Court judgement in its favour.
Buhari sets Nigeria on course for petroleum transition
Nigerian President Muhammadu Buhari has appointed a steering committee to oversee the enacting of the Petroleum Industry Act (PIA).
Exxon, NNPC ordered to pay Ibeno oil spill compensation
A Nigerian court has ordered Nigerian National Petroleum Corp. (NNPC) and Mobil Producing Nigeria (MPN) pay 82 billion naira ($199.5 million) in compensation for an oil spill.
NNPC, NCDMB sign on to Brass products plan
Nigerian National Petroleum Corp. (NNPC), the Nigerian Content Development Monitoring Board (NCDMB) and Zed Energy have signed a shareholder deal on the Brass terminal.
Shell moves closer to new Bonga plan with NNPC deal
Nigerian National Petroleum Corp. (NNPC) has signed an agreement with its partners on OML 118, home of the Bonga field.
Subsidy payments squeeze NNPC revenues to FAAC
Nigerian National Petroleum Corp. (NNPC) has been forced to deny that the company has run out of cash.
Buhari returns licences to Addax
Nigerian President Muhammadu Buhari has restored four licences to Chinese-owned Addax Petroleum.
NNPC loses $340mn per month on PMS sales
The gap between what Nigeria pays to import fuel and what it is sold at is unsustainable and must change, Nigerian National Petroleum Corp. (NNPC) head Mele Kyari has said.
Nigeria approves funding for Tecnimont refinery work
Nigeria’s Federal Executive Council (FEC) has approved spending $1.5 billion to rehabilitate the Port Harcourt refinery.
NNPC to supply gas to Moroccan plant in Akwa Ibom
Nigerian energy officials have visited Morocco in a show of support for an ammonia plant in Akwa Ibom State.
NNPC talks pipeline protection, maritime security
The Nigerian military has committed to providing “maximum security” for the country’s oil and gas assets.
Nigeria plans contract reforms in bid to cut upstream costs
Nigeria has launched an exercise to cut upstream production costs, with an eye on securing the country’s energy future.
NOC spending plans at risk from climate goals
Investments by the world’s NOCs are incompatible with limiting climate change, according to new research published by the Natural Resource Governance Institute (NRGI).
Seplat completes funding for ANOH project
Seplat Petroleum has raised cash for its ANOH gas plan from a group of primarily Nigerian banks.
Nigeria commits to Brass methanol plan
The Nigerian government has signalled its support of the Brass Fertiliser and Petrochemical Co. (BFPCL) 10,000 tonne per day methanol plant with a final investment decision (FID) ceremony.
Bids in for NNPC downstream rehab work
Nigerian National Petroleum Corp. (NNPC) has received bids from 96 companies for rehabilitation of downstream infrastructure.
First E&P exports first Anyala cargo
First oil has been exported from Yinson Holding’s Abigail-Joseph floating production, storage and offloading (FPSO) vessel offshore Nigeria.
Sieminski tips record demand growth for 2021
Oil demand will grow at “a little over 4 million barrels per day” in 2021, King Abdullah Petroleum Studies and Research Centre (KAPSARC) president Adam Sieminski has predicted.
Nigeria commissions LPG plant at Oredo
Nigerian President Muhammadu Buhari has officially inaugurated Nigerian Petroleum Development Co.’s (NPDC) integrated gas handling facility at Oredo.
FEC approves Ibom port plan
Nigeria’s Federal Executive Council (FEC) has approved the Ibom deep sea port plan, paving the way for the project to move forward.
NNPC launches fuel supply tender
Nigerian National Petroleum Corp. (NNPC) has launched the tender process for fuel supplies.