Thursday, September 20, 2018
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Petrobarometer

    Rising crude oil prices ‘fuelling’ smuggling of petrol from Nigeria

Rising crude oil prices ‘fuelling’ smuggling of petrol from Nigeria

Supply and distribution of premium motor spirit (PMS), commonly known as petrol, has risen by 50 percent over the past four months, according to federal government statistics.   [...]

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    Crude revenue reaches 12-month peak — but fuel imports are a killjoy

Crude revenue reaches 12-month peak — but fuel imports are a killjoy

Crude oil export revenue reached the highest mark in 13 months at the end of September 2017 but continued importation of petroleum products is sapping much of the earnings, NNPC’s oil and gas report for the month of October has shown. [...]

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    Despite NNPC’s ‘robust stock’, petrol queues are back in Abuja

Despite NNPC’s ‘robust stock’, petrol queues are back in Abuja

Motorists have begun queuing up at filling stations to buy petrol which appears to be scarce.  [...]

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    Mobil ‘underpaid’ for renewal of three OMLs

Mobil ‘underpaid’ for renewal of three OMLs

The Human and Environmental Development Agenda (HEDA), a non-governmental organisation, has alleged that Mobil Producing Nigeria underpaid for the renewal of three oil mining leases (OMLs). [...]

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    NNPC’s deficit spending keeps growing

NNPC’s deficit spending keeps growing

NNPC’s oil and gas report for October 2017 shows a further increase in the corporation’s overall deficit spending -- despite a drop during the month compared to September. [...]

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    NAPIMS ‘diverted $597m from cash call to consultancy, admin, security’

NAPIMS ‘diverted $597m from cash call to consultancy, admin, security’

The National Petroleum Investment Management Services (NAPIMS) diverted 14% from the payments Nigeria made to joint venture operators in 2015. [...]

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    254 companies bid for NNPC 2018/19 crude lifting contract

254 companies bid for NNPC 2018/19 crude lifting contract

A total of 254 indigenous and international companies have bid for the Nigerian National Petroleum Commission (NNPC) 2018-2019 crude oil term contract. [...]

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    REVEALED: Nigeria’s refining capacity drops to lowest in years

REVEALED: Nigeria’s refining capacity drops to lowest in years

Consolidated capacity utilisation of Nigeria’s three refineries dropped to 6.1% at the end of September 2017, a sustained decline from the average figure of 13.7% in 2016.  [...]

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    Leaked documents reveal how Shell blackmailed Nigeria in Malabu deal

Leaked documents reveal how Shell blackmailed Nigeria in Malabu deal

[...]

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Exchange Rates

September 20, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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