NNPC Ltd has reacted to allegations of Nigeria spending way too much on litres of subsidized fuel, stating that it will offer itself for a forensic audit of fuel supply and subsidy management, insisting that daily fuel supply is 68 million litres. This was disclosed in a statement on Sunday by Malam Garba Muhammad, Group General Manager, Group Public Affairs …
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The Nigerian National Petroleum Corporation (NNPC) says it’s recorded N39.85 billion trading surplus for the month of February 2021. Trading or excessive deficit is based on the deduction of the cost profile from the revenue for the period under review. The amount represents a 314.24 per cent increase from the N9.62billion surplus it listed in January 2021. This is included …
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The people of Idheze Community at Isoko South Local Government Area of Delta State, have threatened to close down the operations of Nigeria Agip Oil Company Limited (NAOC) in the community. This is due to the organization’s alleged gross neglect of its responsibilities to the community in the last nine years. Growing by a two-day yearly mini-conference held lately, the …
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Over the years, there was a rapid increase in the pace at which capital intensive and high risks projects of corporations and governments have been funded through the concept called Project funding. These projects require humongous amounts of funding to embark upon, coupled with the reality that they are filled with high risks. These risks might be in the kind …
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Delta Government on Thursday said it was developing a one-stop-shop Agro-Industrial Park to diversify the country’s economy beyond oil. Commissioner for Information from the state, Mr Charles Aniagwu, revealed this while addressing journalists after an inspection visit to the Agro-Industrial Park at Aboh-Ogwashi at Aniocha South Local Government Area of the state. He said that the job was one of …
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An Oil Company in Abakaliki is in need of Marketing Executives. Interested applicants should send in their CV and applications addressing it to The General Manager Nekeson Oil and Gas Nig LTD. Send in your applications to nekesonoilabakaliki@gmail.com or nwevoemman@gmail.com. For further enquiries call Mr Emmannuel -Can you do a marketing job in an oil company in Abakaliki? If you …
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By Udume Chibueze The rate of fuel scarcity in some parts of the country is alarming. Most filling station predicts of fuel scarcity and as such refused to sell fuel. They bloodily fail to sell in other to make a double profit. Some filling station like Silveray Resources LTD located at old Karu road, Abacha road, Mararabar that decided to …
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The present energy outrage being skilled throughout the nation has been blamed on the collapse of eight energy vegetation and a hydro station. These energy vegetation embody Sapele, Afam, Olonrunsogo, Omotosho, Ibom, Egbin, Alaoji and Ihovbor. Whereas the Jebba Energy Plant was shut down for annual upkeep, seven different built-in energy crops, together with Geregu, Sapele, Omotosho, Gbarain, Omuku, Paras …
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Oil output of the Group of the Petroleum Exporting Nations (OPEC) rose for the seventh straight month in January, with Nigeria recording the most important output decline, in keeping with a Reuters survey. Read also: LEKOIL provides Trading and Operational update on the Otakikpo Marginal Field The output elevated by one hundred sixty,000 barrels per day (pbd) to achieve 25.seventy …
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LEKOIL (AIM: LEK), both the gas and oil exploration and production company with a focus on Nigeria and West Africa, provides the following operational and trading update in regard to this Otakikpo Marginal Field the organization’s only producing advantage. On behalf of this Otakikpo Joint Venture (“Otakikpo JV”) that Is Composed of Green Energy International Limited (“GEIL”), the Operator of …
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Nigerian President Muhammadu Buhari has formally inaugurated Nigerian Petroleum Development Co.’s (NPDC) incorporated gas handling facility in Oredo. Situated in Edo State’s OML 111, the center will get gas in the Oredo area and should halt flaring. “Scaling up utilization of all Nigeria’s abundant all-natural gas resources can help spur industrialization”, Buhari said. He noticed that 2020 was the nation’s …
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Since the slow pace of work in the Tin-can finish of this port access road proceeds leading to difficulty in the evacuation of freight, congestion has assembled resulting in over 40 ships waiting in the anchorage for berthing space. The problem brings to the fore have to offer alternate avenues for cargo evacuation as vent actions in Tin Can Island …
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The Organisation of Petroleum Exporting Countries (OPEC) said the Nigerian Crude oil export earnings rebounded by 116 percent in November from 77 percent in April 2020. The OPEC Secretary General Mohammad Barkindo revealed this in the Virtual 19th Nigeria Oil and Gas Conference on Tuesday. The Theme of the Conference is’fortifying the Nigerian Gas and Oil for Financial Stability and …
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The country’s oil and gas resources being developed via joint partnerships involving the Nigerian National Petroleum Corporation and private companies are suffering financing shortfall as money telephone payment from the NNPC has hit a record low. Amid the coronavirus-induced sharp fall in its own earnings, the Federal Government, through the NNPC, decreased its spending to the JV funds to $91.52m …
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