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Petrobarometer
The Nigeria LNG (NLNG) says it has paid $17 billion in dividends to the federal government through the Nigerian National Petroleum Corporation (NNPC). In tweets to celebrate its 31 years of existence, the company said it has generated $108 billion in revenue. "With 22 million tonnes per annum (MPTA) six-train on Bonny Island, Nigeria LNG has reduced gas flaring from 65% to [...]
Timipre Sylva, the minister of state for petroleum resources, says the federal government will continue to determine the price of petrol because of the need to protect the public from exploitation. In a statement released on Friday, Sylva said the federal government has decided to monitor the pump price of petrol despite the deregulation. Sylva said the government will act as a shield [...]
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The Nigerian National Petroleum Corporation (NNPC) has announced a downward review of the ex-depot price of petrol from N113.28 per litre to N108 per litre. Kennie Obateru, group general manager of the NNPC public affairs division, said the review is in line with the new pricing template that allows for an adjustment of petrol to reflect the situation in the global [...]
Royal Dutch Shell has accused the Nigerian government of hiding key reports of investigations by the Economic and Financial Crimes Commission (EFCC) which concluded that there was no fraud in the sale of OPL 245. Shell and ENI, which paid $1.3 billion to take full ownership of the lucrative oil block from Malabu Oil and Gas Ltd in 2011, are fighting [...]
Saudi Arabia says it is closely monitoring activities in the oil markets and is ready to take further measures to salvage the market situation. The Saudi Press Agency quoted Majid bin Abdullah Al-Qasabi, the minister of commerce and investment, as saying the cabinet is keen on achieving stability in the oil market. Al-Qasabi said that the cabinet continues in monitoring the “oil [...]
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