Monday, February 18, 2019
Advertisement

Petrobarometer

    Nigeria’s oil export to ‘ramp up’ as Forcados terminal bounces back

Nigeria’s oil export to ‘ramp up’ as Forcados terminal bounces back

Operations at Forcados terminal, one of Nigeria’s main oil export routes, are ramping up after a momentary shutdown at the Trans Forcados Pipeline (TFP). [...]

0 comment Read Full Article
    NNPC, Chinese firms sign mega gas deal ‘to industralise Nigeria’

NNPC, Chinese firms sign mega gas deal ‘to industralise Nigeria’

The Nigerian National Petroleum Corporation (NNPC) says it has signed a $2.8bn agreement for the Ajaokuta-Kaduna-Kano (AKK) gas pipeline and stations with a consortium of indigenous and Chinese companies. [...]

0 comment Read Full Article
    PIGB yet to get to Buhari’s desk — a week after passage

PIGB yet to get to Buhari’s desk — a week after passage

The euphoria that accompanied the passage of the harmonised Petroleum Industry Governance Bill (PIGB) by the national assembly on March 28 is taking a knock. [...]

0 comment Read Full Article
    OPL 245: UK authorities gave us nod to pay Etete $875m, says JP Morgan

OPL 245: UK authorities gave us nod to pay Etete $875m, says JP Morgan

JP Morgan Chase Bank says it got the approval of the UK top anti-money laundering agency to transfer $875 million to the Nigerian accounts of Dan Etete's Malabu Oil in 2011. [...]

0 comment Read Full Article
    REVEALED: Nigeria now spending N1.4trn on petrol subsidy annually

REVEALED: Nigeria now spending N1.4trn on petrol subsidy annually

Ibe Kachikwu, minister of state for petroleum resources, says subsidy on petrol currently costs the federal government N1.4 trillion annually.  [...]

0 comment Read Full Article
    REVEALED: Seme is Nigeria’s No. 1 fuel smuggling route

REVEALED: Seme is Nigeria’s No. 1 fuel smuggling route

The Nigeria Customs Service (NCS) says it seized 174,015 litres of smuggled petroleum products worth N27, 755,492 in one year. [...]

0 comment Read Full Article
    Headache for OPEC as India considers non-member suppliers for cheap crude

Headache for OPEC as India considers non-member suppliers for cheap crude

Efforts by the Organisation of Petroleum Exporting Countries (OPEC) to rebalance the global crude oil market and ensure that members get good value for the commodity may be in jeopardy as India, one of the world's major crude buyers, is looking outside OPEC.Dharmendra Pradhan, India's petroleum and natural gas minister, told a press conference in New Delhi that the country [...]

0 comment Read Full Article
    Nigerian oil firm sues Shell over ‘crude oil diversion’

Nigerian oil firm sues Shell over ‘crude oil diversion’

Nigerian indigenous oil company Neconde Energy Limited says it had launched arbitration against oil giant Shell in the UK over the Anglo Dutch firm's alleged diversion of crude oil worth millions of dollars produced from Niger Delta onshore oil block OML 42. [...]

0 comment Read Full Article
    Shell sues ex-employee over ‘shady’ role in sale of Nigerian oil block

Shell sues ex-employee over ‘shady’ role in sale of Nigerian oil block

Royal Dutch Shell has filed a criminal suit in The Netherlands against one its former workers over suspected fraud in the sale of an onshore oil block located in the Niger Delta, TheCable Petrobarometer learnt on Wednesday. [...]

0 comment Read Full Article
    History beckons as national assembly passes harmonised PIGB

History beckons as national assembly passes harmonised PIGB

The national assembly on Wednesday passed the harmonised Petroleum Industry Governance Bill (PIGB).  [...]

0 comment Read Full Article
    40 NGOs seek cancellation of $20 billion Nigeria-Morocco gas pipeline project

40 NGOs seek cancellation of $20 billion Nigeria-Morocco gas pipeline project

Forty non-governmental organisations (NGOs) have signed a declaration calling for the cancellation of the proposed $20 billion Nigeria-Morocco gas pipeline project. [...]

0 comment Read Full Article
    Falana: In three years, Nigeria lost $200bn from shady oil deals

Falana: In three years, Nigeria lost $200bn from shady oil deals

Femi Falana, lawyer and human rights activist, says within a three year period, Nigeria lost an estimated $200 billion from "shady deals" in the oil and gas sector.  [...]

0 comment Read Full Article
    Despite hitches, production from OML 40 hits 1.42m barrels in 2018

Despite hitches, production from OML 40 hits 1.42m barrels in 2018

Production in Opuama oil field has hit 1,421,292 barrels already in 2018 despite "technical challenges". [...]

0 comment Read Full Article
    Kachikwu: New oil licences will be issued when PIGB becomes law

Kachikwu: New oil licences will be issued when PIGB becomes law

Ibe Kachikwu, minister of state for petroleum resources, says new licences for oil blocks will be issued when the petroleum industry governance bill (PIGB) is passed by the national assembly. [...]

0 comment Read Full Article
    Waziri Adio: Oil sector needs to be a real blessing — not needless curse

Waziri Adio: Oil sector needs to be a real blessing — not needless curse

Waziri Adio, executive secretary, Nigeria Extractive Industries Transparency Initiative (NEITI), says implementation of laws will reposition and transport the oil and gas sector to become a real blessing and not just a "needless curse".Speaking at a symposium on petroleum industry governance bill (PIGB) in Abuja, Adio commended the national assembly for passing PIGB.He said Nigerians will be deluded to think the job [...]

0 comment Read Full Article
    NNPC: Our operations are going paperless soon

NNPC: Our operations are going paperless soon

The Nigerian National Petroleum Corporation (NNPC) says it will soon go digital with its operations. [...]

0 comment Read Full Article
Advertisement

Advertisement

Advertisement

Exchange Rates

February 18, 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.
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement