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Petrobarometer
The United Nations says Nigeria lost an estimated $2.8 billion in revenue in 2018, mainly due to oil-related crimes.This is according to a new report by the secretary-general on the activities of the United Nations Office for West Africa and the Sahel (UNOWAS).The report, which covered from July to December 2018, said “maritime crime and piracy off the coast of [...]
The Petroleum Products Pricing Regulatory Agency (PPPRA) says the import price of petrol is now lesser than N145.In a statement released on Monday, the agency attributed the reduced prices to a drop in crude oil prices.The statement, which was signed by Apollo Kimchi, its spokesman, said independent oil marketers might soon begin importation of oil products."The Petroleum Support Fund scheme [...]
Total Exploration and Production Nigeria Limited says it was able to start up production at the Egina oil field and save over one billion dollars at the same time. [...]
Ibe Kachikwu, minister of state for petroleum resources, says the federal government has generated over $2 billion from the renewal of oil block licences.The former group managing director the Nigerian National Petroleum Corporation (NNPC) said the funds will be used to implement the nation's budget.“We have actually asked for early renewals, because we needed to get money out of it [...]
The 2019 budget has just received a boost as the very first cargo of crude oil from Total's new Egina oil field hit the international oil market for futures trading.According to Reuters, the new Nigerian oil "grade has been added to the February loading programme".Following forward trading in the oil market, the first cargoes from Total’s newly producing Egina offshore field, [...]
Nigeria recorded the highest crude oil loss in the last 18 years with an average of 245 million barrels of oil “going down the drain” in 2016. [...]
Revenue generated by Nigeria’s oil and gas sector fell to $17.05 billion in 2016, making it the lowest figure recorded in the last 10 years. [...]
Giusy Barbara, an Italian judge, says oil giants Eni and Shell were fully aware that their 2011 purchase of OPL 245 would be embroiled in corruption. [...]
The Nigerian National Petroleum Corporation (NNPC) says the senate has confirmed that $1.05 billion from Nigeria Liquefied Natural Gas (NLNG) is not missing.According to a statement signed by the NNPC spokesman, Ndu Ughamadu, the funds were used to support the importation of petroleum products into the country."The Chairman of the Senate Committee on Gas, Senator Bassey Albert, Thursday in Abuja, clarified [...]
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The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has directed its members to shut down all loading operations by midnight. [...]
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