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Tag: crude oil

Dangote Refinery Receives Fourth Crude Shipment

Dangote Refinery
Dangote Refinery has received the fourth crude shipment of one million barrels of bonny light crude supplied by the Nigeria National Petroleum Corporation Limited (NNPCL). Preparations are in top gearRead More

Oil Production Challenges, Inflation Retard Nigeria’s Economy In Q2 2022

Nigeria Oil Refinery
GDP growth slows to 3.54%, non-oil sector contributes 93.67% Nigeria Gross Domestic Product (GDP) grew by 3.54 per cent (year-on-year) in real terms in the second quarter of 2022, theRead More

Audi: Some NSCDC Officials Colluding To Vandalise Oil Pipeline

Commandant General of the Nigeria Security and Civil Defence Corps (NSCDC), Dr. Ahmed Audi
The Commandant General of the Nigeria Security and Civil Defence Corps (NSCDC), Dr. Ahmed Audi, has lamented that some of his men were colluding with some criminal elements to vandaliseRead More

Northern Groups Notify Police Of Planned Protest Against Tompolo’s N4bn Pipeline Contract Award

Amalgamated Arewa Youth Groups (AARYG)
The Amalgamated Arewa Youth Groups (AARYG), the umbrella body of 225 socio-cultural groups in the north has notified the Federal Capital Territory (FCT) Police Command about its planned protest againstRead More

Oil Theft: Arrest Of 3m Barrel-capacity Supertanker Reflects Scale Of Crisis

Crude Oil Theft
Navy confirms chasing suspicious vessel into Equatorial Guinea Says crude oil ship feigned attack by sea pirates 16 Indians, 8 Sri Lankans, 1 Pole, Filipino found aboard facility The arrestRead More

With Massive Oil Windfall, Saudi Arabia Pours $7.5bn Into US Stocks

Organisation of the Petroleum Exporting Countries (OPEC)
A top member of the Organisation of Petroleum Exporting Countries (OPEC) Saudi Arabia, has through its Sovereign Wealth Fund (SWF) invested $7.5 billion in blue-chip American companies on the backRead More

Komolafe: Nigeria Lost $1bn Revenue To Crude Oil Theft In Q1

Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr. Gbenga Komolafe
World’s richest billionaires lose $1.4tn in worst half-year ever Nigeria lost $1 billion in revenue during the first quarter of this year due to crude oil theft, the Chief ExecutiveRead More

Fuel Subsidy, Nigeria Merely Struggling To Service Its Debts, Finance Minister Laments

Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed
Declares policy hurting economy W’Bank estimates country may lose N5trn oil revenue to subsidy in 2022 Says seven million Nigerians may slip into poverty this year Soludo harps on fuelRead More

Nigeria’s Production Quota Hits 1.8m bpd As OPEC Ups July Crude Allocation

Organisation of the Petroleum Exporting Countries (OPEC)
Total country’s drilling deficit crosses 400,000bpd With 26% share of Nigeria’s gas export, Kyari says Spain remains major market DHQ: Troops destroyed 40 illegal refineries in Niger Delta For theRead More

Oil Price Surge: As NNPC Falters, Saudi Aramco’s Q1 Profit Jumps 82% To $40bn

Nigerian National Petroleum Corporation (NNPC)
As the Nigerian National Petroleum Corporation (NNPC) continues to default in its contribution to the federation account, Saudi Aramco, owned by the Saudi Arabian government yesterday posted an 82-per centRead More