Oil rises to $53 as inventory overhang erodes, Saudi cuts exports

Oil prices rose on Thursday lifted by a sustained decline in inventories and Saudi Arabia’s preparedness to cut crude supplies to its prized Asian...

Agencies agree on oil revenue management, governance

Key Nigerian agencies have agreed to partner in oil revenue savings and promotion of better attitude to public office. They are Nigeria Extractive Industries Transparency...

NNPC eyes $30b windfall, anti-graft committee takes off

The Nigerian National Petroleum Corporation (NNPC) has disclosed that the four major investments it recently embarked upon with key upstream joint venture partners are...

Crude oil production stands at 2.35m barrels per day – NNPC

The  Nigerian National Petroleum Corporation (NNPC) said on Monday the  nation’s  current crude oil production had risen to 2.35 million barrels per day. Its Group...

Nigeria’s daily oil production needs metering–Senator

A lawmaker, Sen. Stella Oduah, has urged Nigeria National Petroleum Corporation (NNPC) to put adequate metering system in place to enable Nigerians to know...

Nigeria to combat oil theft with ‘mini-refineries’

The Nigerian government has said it will legalise mini-refineries in the oil-rich Niger Delta and supply them with crude oil at a reasonable price...

NNPC agreement with Shell, Chevron will boost revenue by $16 billion

Two sets of alternative financing agreements on Joint Venture (JV) projects to boost reserves and production in line with government’s aspiration were executed in...

NNPC to extend gas pipeline to Ivory Coast

The Nigerian National Petroleum Corporation (NNPC) has said the West African Gas Pipeline (WAGP) would be extended from Ghana to Ivory Coast as part of...

West African oil booms as refineries cash in on high margins

Booming refinery profits are helping West African oil producers sell cargoes quickly, aided by a shortage in certain types of crude amid OPEC production...

Total to boost Nigeria’s daily oil production

Total oil on Wednesday said that it would boost the Nigeria’s daily oil production by 200,000 barrels from 2018. Mr Nicolas Terraz, Managing Director of...
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