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Nigeria’s Oil Production Hits 2.25mbd

  Chineme Okafor in Abuja Nigeria’s daily crude oil production with condensates has increased to 2.25 million barrels per day (mbd), but with crude oil production alone standing at 1.8mbd, while condensates are 450,000 barrels per day (bd), the Nigerian National Petroleum Corporation (NNPC) has disclosed. The NNPC also disclosed on Tuesday in …

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Kachikwu: FG to Review NNPC’s $6bn Oil Swaps

Minister of State for Petroleum Resources, Dr. Ibe Kachikwu • To blacklist non-performing oil traders• Will explore mechanisms to encourage marketers to import petrol Ejiofor Alike Apparently scandalised by the acute petrol scarcity, which marred the Yuletide celebrations, the federal government is set to review the $6 billion Direct Sale-Direct …

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The Navy Rises to the Challenge

Chiemelie Ezeobi writes that the recent Exercise Eagle Eye II at the Bonny and Brass waters afforded the Nigerian Navy the opportunity to assess its operational readiness in conducting maritime policing against piracy and other illegalities It was at the waters between Bonny and Brass code named ‘Area Alpha Juliet’ …

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NEITI: Nigeria Earned $268bn from Oil in Five Years

Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Mr. Waziri Adio  Says NNPC’s inconsistent pricing method caused $90m loss in 2015 Chineme Okafor in Abuja Between 2011 and 2015, which represented an auditing period of five years, Nigeria earned a total of $268.8 billion from mining and sales …

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Refinery Owner: How Nigeria Can End Fuel Scarcity

Azibapu Eruani Emmanuel Addeh in Yenagoa An industrialist, Dr. Azibapu Eruani, who is currently building a refinery in Bayelsa State, thursday said unless Nigeria develops the capacity to refine petroleum products locally, the perennial fuel scarcity in the country would persist. Eruani, who spoke in Yenagoa, however said there was …

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