Senate directive on Wednesday to the Nigerian National Petroleum Corporation (NNPC) to halt subsidy deduction and to refund N216 billion already expended will trigger shortages of the fuel on a “monumental proportion”, officials of the corporation warned on Thursday. [...]
Petrobarometer
The senate has asked the Nigerian National Petroleum Cooperation (NNPC) to stop further payment of oil subsidies.It also asked the cooperation to immediately refund the total sum of N216 billion said to have been used for subsidy payment to the consolidated revenue fund.The senate issued the orders on Wednesday after adopting the recommendations of its committee that investigated the subsidy payment [...]
In spite of security concerns in the Niger Delta, the Shell Petroleum Development Company (SPDC) will later this year kick start its expenditure plans on oil and gas projects worth $15 billion, The Cable Petrobarometer understands. [...]
US President Donald Trump has accused the Organisation of Petroleum Exporting Countries (OPEC) of “keeping oil prices artificially very high.” [...]
BudgIT, a civic tech organisation, says Nigeria could lose as much as N9 trillion to gas flaring in the next 10 years if urgent control measures are not put in place by the federal government. [...]
President Muhammadu Buhari says Nigeria is safe for business, urging foreign investors to come to the country and invest.Fielding questions at the business forum of the Commonwealth Head of Government Meeting (CHOGM 2018) in Westminster, the president said Shell Group is preparing to invest $15 billion in Nigeria."On security, certainly, both in the northeast and in the southsouth, there has been [...]
Subsidy payment on petrol has been on the rise, hitting N112 billion within a 10-month period in 2017. [...]
French oil firm Total is currently engaged in a "fierce battle" with senior Nigerian employees of the company which is now threatening the company's crude oil production of over 200,000 barrels per day, TheCable Petrobarometer understands. [...]
The National Engineering and Technical Company Limited (NETCO), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), has declared a dividend of N750 million to its shareholders - the highest in any given year. [...]
BudgIT, a Nigerian civic social enterprise, has asked the federal government to release detailed information on the N1.4 trillion spent as subsidy payment annually as disclosed by Ibe Kachikwu, the minister of petroleum resources. [...]
Nigeria’s oil production dropped by more than 82,000 barrels per day (bpd) to 2.022 million b/d in March 2018 — compared to the output in the preceding month, according to estimates released by the ministry of petroleum resources. [...]
Royal Dutch Shell paid a total of $4,322,742,582 (about N1.5 trillion) to the Nigerian government in 2017, according to its annual payments report seen by TheCable Petrobarometer. [...]
The Nigerian National Petroleum Corporation (NNPC) says gas flaring in has dropped “aggressively” by 72 percent in the last few years. [...]
The Nigerian National Petroleum Corporation (NNPC) says it has cleared a backlog of 65 unaudited financial statements spanning a period of three years — from 2011 to 2014. [...]
Operations at Forcados terminal, one of Nigeria’s main oil export routes, are ramping up after a momentary shutdown at the Trans Forcados Pipeline (TFP). [...]
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