Wednesday, July 17, 2019
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Petrobarometer

    ‘Eni knew bribes would be paid’, ‘Adoke confronted officials over kickbacks’ — OPL 245 trial continues in Italy

‘Eni knew bribes would be paid’, ‘Adoke confronted officials over kickbacks’ — OPL 245 trial continues in Italy

Trial continued in an Italian court on Wednesday over the controversial $1.3 billion OPL 245 deal between Shell, Eni-Agip and Malabu in 2011, with a star witness alleging that Eni-Agip officials knew that bribes would paid to Nigerian politicians.Vincenzo Armanna, former Eni manager and defendant in the corruption trial, also informed the court that Mohammed Bello Adoke, former Nigerian attorney-general, told [...]

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    MRS, Total… here are the 34 oil companies that got NNPC’s crude-swap contract

MRS, Total… here are the 34 oil companies that got NNPC’s crude-swap contract

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    UN court orders Switzerland to hand Nigeria $14m bond for release of detained oil vessel

UN court orders Switzerland to hand Nigeria $14m bond for release of detained oil vessel

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    NNPC: It’s very difficult for us to make fuel available at N145

NNPC: It’s very difficult for us to make fuel available at N145

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    Mele Kyari promises to repair all refineries before 2023

Mele Kyari promises to repair all refineries before 2023

Mele Kyari, group managing director of the Nigerian National Petroleum Corporation (NNPC), says he would work towards getting the nation's four refineries working at optimal performance by 2023. [...]

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    Baru: I have sacrificed 45.6% of my terminal benefits for NNPC pensioners

Baru: I have sacrificed 45.6% of my terminal benefits for NNPC pensioners

Maikanti Baru, immediate past group managing director (GMD) of the Nigerian National Petroleum Corporation (NNPC), says he has sacrificed 45.6% of his terminal benefit for the corporation's pensioners.Speaking at his valedictory speech in Abuja, on Monday, Baru said he lost N1.5 million to the deliberate sacrifice.He commended the efforts of other officers who worked with him during his tenure.Commending Isiaka [...]

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    Wale Tinubu: Politicians want fuel subsidy to continue at all cost

Wale Tinubu: Politicians want fuel subsidy to continue at all cost

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    Nigeria’s Barkindo gets re-elected as OPEC secretary general

Nigeria’s Barkindo gets re-elected as OPEC secretary general

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    Former NNPC GMD replaces Kachikwu as alternate board chairman

Former NNPC GMD replaces Kachikwu as alternate board chairman

President Muhammadu Buhari has appointed Thomas John as acting alternate chairman of the Nigerian National Petroleum Corporation (NNPC) Governing Board. [...]

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    FG appoints Ahmad Shakur as acting DPR director

FG appoints Ahmad Shakur as acting DPR director

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    NNPC: We’ll resume oil search in Chad Basin after security clearance

NNPC: We’ll resume oil search in Chad Basin after security clearance

The Nigerian National Petroleum Corporation (NNPC) says it will resume oil search in the Chad Basin as soon as it receive security clearance.  [...]

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    Buhari appoints Mele Kyari as NNPC GMD

Buhari appoints Mele Kyari as NNPC GMD

President Muhammadu Buhari has appointed Mele Kyari to head the Nigerian National Petroleum Corporation (NNPC).This is the second appointment the president will be making since his inauguration in May.Kyari, who is the current group general manager, crude marketing division, will assume office as NNPC GMD on July 7.He will replace Maikanti Baru, the current GMD who was appointed in July [...]

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    REVEALED: Nigeria’s oil revenue hit N85trn in 5 years

REVEALED: Nigeria’s oil revenue hit N85trn in 5 years

Nigeria made about N85 trillion ($236.2 billion) from oil between 2014 and 2018, the 54th edition of Annual Statistical Bulletin by the Organisation of Petroleum Exporting Countries (OPEC), has revealed. [...]

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    Report: Oil thieves stealing 100,000 barrels daily

Report: Oil thieves stealing 100,000 barrels daily

Oil theft has replaced the activities of militants, costing the nation trillions of naira, according to a report by Bloomberg.  [...]

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    FG revokes six oil licences to ‘recover legacy debts’

FG revokes six oil licences to ‘recover legacy debts’

The Department of Petroleum Resources (DPR) has revoked five oil mining licences (OML) and one oil prospecting licence (OPL) belonging to five companies.In a public notice issued on Thursday, the regulatory body said the revocation was based on a presidential directive to "recover legacy debts" owed by the companies operating the licences.The five companies affected are Pan Ocean Oil Corporation [...]

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    I’ll resign, upgrade refineries… five times Kachikwu went back on his words

I’ll resign, upgrade refineries… five times Kachikwu went back on his words

In the last four years and even as far back as one would want to go, Nigeria’s oil and gas industry has been an unending subject of controversy as it has been the nation’s cash cow for decades. [...]

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Exchange Rates

July 12, 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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