The Nigerian National Petroleum Corporation (NNPC) says its Group General Manager, Crude Oil Marketing Division, Mallam Mele Kyari has been appointed Nigeria’s National Representative to the Organisation of Petroleum Exporting Countries (OPEC). The NNPC said in Abuja in a statement by its Group General Manager, Group Public Affairs Division, Ndu Ughamadu. According to Ughamadu, the…Read more
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The federal government and oil firms operating in the western Niger Delta are losing roughly 250,000 barrels of oil per day (b/d) owing to the closure of the Trans-Forcados Pipeline, following a leakage discovered on the facility, THISDAY has learnt. The Trans-Forcados pipeline is the major trunk line in the Forcados Pipeline System with an…Read more
Nigeria's crude oil production including condensate reached 2.069 million barrels per day (mbpd) in April 2018, according to data from the Federal Ministry of Petroleum Resources. Though there is a slight increase from the 2.022mbpd the country recorded in March, this means Nigeria is still struggling to step up production to meet the 2.3mbpd benchmark…Read more
Private equity (PE) firms are readying to deploy capital into the global oil and gas sector with 25% planning acquisitions before the end of the year and 43% by the first half of 2017, according an EY global survey of 100 PE firms active in the sector. With US$971.4b of PE dry powder from June…Read more
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