Monday, February 17, 2020
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Petrobarometer

    INTERVIEW: RemTrack will shine the light on darkness in extractive industry, says OrderPaper ED

INTERVIEW: RemTrack will shine the light on darkness in extractive industry, says OrderPaper ED

Available records show Nigeria's crude oil production capacity stands at 2.2 million barrels per day even as the country has traditionally been ranked Africa's largest producer of oil. After decades of exploration, the oil and gas sector has accounted for a significant part of the government revenue. But despite such endowment, Nigeria has struggled to cater for millions of its citizens, with the [...]

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    Sylva: One billion barrels of crude oil discovered in north-east

Sylva: One billion barrels of crude oil discovered in north-east

Timipre Sylva, minister of state for petroleum resources, says about one billion barrels of crude oil have been discovered in the north-east. NAN quoted Sylva as saying this on Wednesday at a press conference to mark the end of the 2020 Nigeria International Petroleum Summit in Abuja. The minister said large quantities of oil deposits are yet to be found in the [...]

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    Coronavirus: Nigeria’s oil revenue at risk as OPEC mulls more production cuts

Coronavirus: Nigeria’s oil revenue at risk as OPEC mulls more production cuts

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    PPPRA finance director admits not remitting N501m to FG in 2014

PPPRA finance director admits not remitting N501m to FG in 2014

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    OPL 245: Retired AIG testifies in Italian court, ‘contradicts self’

OPL 245: Retired AIG testifies in Italian court, ‘contradicts self’

The trial of Shell & Eni is ongoing in Milan, Italy, Valori.it, an Italian newspaper is reporting.  Italian authorities had asked prosecutors to produce Isaac Eke, a Nigerian witness who is a retired assistant inspector-general of police (AIG), in the ongoing probe of the $1.1 billion Malabu oil scandal. Eke was brought up by defendant Vincenzo Armanna, former Eni manager, who became [...]

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    Lawan: We’ll pass PIB before end of year

Lawan: We’ll pass PIB before end of year

Senate President Ahmad Lawan says the national assembly is working towards passing the petroleum industry bill (PIB) before the end of the year. He said this while speaking with reporters in Abuja on Monday. "Whatever the mystery, we are determined to pass the PIB before the end of this year by the grace of God. The PIB is so important because until you [...]

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    ANALYSIS: Oil pipeline repairs gulped N556bn in four years — twice the cost of 2nd Niger bridge

ANALYSIS: Oil pipeline repairs gulped N556bn in four years — twice the cost of 2nd Niger bridge

Between January 2015 and June 2019, the federal government spent over N556 billion on oil pipeline repairs and maintenance across the country. This figure is contained in the monthly financial and operations reports released by the Nigerian National Petroleum Corporation (NNPC). Analysis done by TheCable showed that within the time covered, the pipelines in the country were vandalised a total of 8,353 [...]

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    Mele Kyari: People living close to pipelines are silent yet aware of vandalism

Mele Kyari: People living close to pipelines are silent yet aware of vandalism

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    Crude oil prices approach $70 amidst US-Iran tension

Crude oil prices approach $70 amidst US-Iran tension

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    NNPC: Nationwide petrol distribution drops by 570m litres in four months

NNPC: Nationwide petrol distribution drops by 570m litres in four months

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    12 years after conception, NLNG gives green light to Train 7 project

12 years after conception, NLNG gives green light to Train 7 project

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    Border closure: Fuel consumption has dropped by 70% in Adamawa, says DPR 

Border closure: Fuel consumption has dropped by 70% in Adamawa, says DPR 

Ibrahim Ciroma, Adamawa state operations controller of the Department of Petroleum Resources (DPR), says the number of trucks entering Adamawa on a daily basis has reduced from 100 to between 30 and 40.    [...]

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    Buhari appoints Sarki Auwalu as DPR director

Buhari appoints Sarki Auwalu as DPR director

President Muhammadu Buhari has approved the appointment of Sarki Auwalu as the substantive director of the Department of Petroleum Resources (DPR). [...]

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    Court orders transfer of oil field from Bayelsa to Rivers

Court orders transfer of oil field from Bayelsa to Rivers

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    Mele Kyari: Nigeria will stop importing fuel by 2023

Mele Kyari: Nigeria will stop importing fuel by 2023

Mele Kyari, the group managing director of the Nigerian National Petroleum Corporation (NNPC), says the country will stop fuel importation by 2023. [...]

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    Nigeria’s Omar emerges secretary-general of African Petroleum Producers’ Organisation

Nigeria’s Omar emerges secretary-general of African Petroleum Producers’ Organisation

Omar Ibrahim, a Nigerian, has emerged secretary-general of the African Petroleum Producers’ Organization (APPO). His appointment was ratified at the extraordinary session of the APPO council of ministers, which held in Abuja, on Thursday. Ibrahim took over from Mahaman Gaya whose tenure ended same day. The Nigerian, with a focus in international energy relations, has served as governor of the Organisation of Oil [...]

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Exchange Rates

February 04, 2019USDGBPEUR
INTERBANK306397354
LAGOS355444389
KANO354445370
PH355447412
ABUJA356454413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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