Monday, October 14, 2019
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Petrobarometer

    NNPC announces discovery of oil in north-east

NNPC announces discovery of oil in north-east

The Nigerian National Petroleum Corporation (NNPC) has announced the discovery of oil in the north-eastern part of the country.Samson Makoji, acting group general manager, group public affairs division of the corporation, announced this in a statement on Friday.He said the discovery of oil and gas in commercial quantity in the Gongola Basin will "attract foreign investment, generate employment for people [...]

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    Nigeria to hold oil licensing rounds in 2020 — 13 years after the last

Nigeria to hold oil licensing rounds in 2020 — 13 years after the last

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    US closes inquiry into Shell over Malabu deal

US closes inquiry into Shell over Malabu deal

A day after Eni announced that the US department of justice has closed investigation into its role in the OPL 245/Malabu deal of 2011, Royal Dutch Shell said it has also been notified on its own probe.Shell and Eni teamed up to acquire OPL 245 from Malabu Oil and Gas Ltd in 2011 but the deal has become a subject of [...]

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    Malabu deal: US ends investigation of Eni with a clause (updated)

Malabu deal: US ends investigation of Eni with a clause (updated)

The US justice department has not found any wrongdoing on the part of Eni, Italian oil giant, in its joint acquisition of OPL 245 with Shell in 2011.In a press statement on Tuesday, Eni said this is yet another confirmation that it did not engage in any illegality.In 2011, the federal government brokered a deal between Malabu Oil and Gas [...]

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    Rivers acquires Shell’s 45% stake in Ogoni

Rivers acquires Shell’s 45% stake in Ogoni

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    NNPC to begin full rehabilitation of refineries in January 2020

NNPC to begin full rehabilitation of refineries in January 2020

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    Oil sector workers reject inclusion in IPPIS wage system

Oil sector workers reject inclusion in IPPIS wage system

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    Oil price hit $71 per barrel after Saudi attack — biggest intra-day spike since 1988

Oil price hit $71 per barrel after Saudi attack — biggest intra-day spike since 1988

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    Despite shale boom, Nigerian crude is on honeymoon with Californian refiners

Despite shale boom, Nigerian crude is on honeymoon with Californian refiners

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    LUCKY SAVE! Exxon Mobil, Shell lose $1.8bn suit against Nigeria in US

LUCKY SAVE! Exxon Mobil, Shell lose $1.8bn suit against Nigeria in US

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    NEC: 22 million barrels of crude oil stolen in first six months of 2019

NEC: 22 million barrels of crude oil stolen in first six months of 2019

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    ‘Biodiesel could solve Nigeria’s energy problem’

‘Biodiesel could solve Nigeria’s energy problem’

Kessington Obahiagbon, professor of chemical engineering at the University of Benin, says his new research has shown that biodiesel can solve Nigeria’s energy problem.  [...]

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    Sylva describes Nigeria as a laughing stock in oil business

Sylva describes Nigeria as a laughing stock in oil business

Timipre Sylva, minister of state for petroleum resources, says Nigeria is currently a laughing stock in the way it operates business in the oil and gas sector.Sylva said this in Abuja when he hosted delegates from Total Exploration and Production, Nigeria, led by Mike Sangster, its managing director.The minister said the country must bring down the cost of production of [...]

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    Dangote’s $13bn refinery takes delivery of electricity generating equipment

Dangote’s $13bn refinery takes delivery of electricity generating equipment

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    OML 11: Court orders FG to renew Shell’s licence

OML 11: Court orders FG to renew Shell’s licence

A federal high court in Abuja has ordered the federal government to renew the operating licence of the Shell Petroleum Development Company (SPDC). [...]

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    NEITI: NNPC has admitted non-remittance of N77.9bn to FG in 2017

NEITI: NNPC has admitted non-remittance of N77.9bn to FG in 2017

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Exchange Rates

October 14, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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