Saturday, August 18, 2018
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Petrobarometer

    NNPC may lose power to collect royalty from oil companies

NNPC may lose power to collect royalty from oil companies

Mahmoud Yunusa, chairman, forum of finance commissioners, says the federation allocation accounts committee is working on stripping the Nigerian National Petroleum Corporation of its powers of collecting royalty from oil companies. [...]

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    China’s national oil company to increase Nigerian investment by $3bn

China’s national oil company to increase Nigerian investment by $3bn

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    It’s time to #SignThePIGB and #ReformTheOilSector, Mr. President!

It’s time to #SignThePIGB and #ReformTheOilSector, Mr. President!

Over 100 days after the passage of the the Petroleum Industry Governance Bill (PIGB) by the national assembly, the bill has finally arrived at the desk of President Muhammadu Buhari for his assent. [...]

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    FG threatens to revoke licenses of oil companies over unfair staff treatment

FG threatens to revoke licenses of oil companies over unfair staff treatment

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    NNPC partners World Bank on daily petrol consumption audit

NNPC partners World Bank on daily petrol consumption audit

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    NNPC to raise funds from the capital market

NNPC to raise funds from the capital market

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    Kachikwu: Buhari has never called me to give anybody oil block

Kachikwu: Buhari has never called me to give anybody oil block

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    Total: Egina FPSO moving to site soon

Total: Egina FPSO moving to site soon

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    Temile, Hyundai sign $120m MoU for LPG carriers

Temile, Hyundai sign $120m MoU for LPG carriers

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    ‘Governors wanted extra N40bn’ — NNPC explains FAAC deadlock

‘Governors wanted extra N40bn’ — NNPC explains FAAC deadlock

The Nigerian National Petroleum Corporation (NNPC) says the federation accounts and allocation committee (FAAC) meeting with governors ended in a deadlock because they wanted extra N40 billion.The revenue sharing meeting had ended in a deadlock on Wednesday for the third time since January 2018. [...]

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    Africa takes the lead in OPEC — but only in member numbers

Africa takes the lead in OPEC — but only in member numbers

Africa has now taken the lead in the Organisation of Petroleum Exporting Countries (OPEC) in terms of member countries.Of the 15 member countries, Africa now has seven countries in OPEC as against six from the Middle East. [...]

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    CSO tasks n’assembly, Buhari to ‘immediately’ do the needful on PIGB

CSO tasks n’assembly, Buhari to ‘immediately’ do the needful on PIGB

Publish What You Pay (PWYP), a civil society organisation (CSO), says the national assembly and President Muhammadu Buhari should immediately do the needful on the petroleum industry governance bill (PIGB).Speaking with journalists on Monday, Peter Egbule, national coordinator of PWYP, said all four parts of the Petroleum Industry Bill (PIB) would significantly reduce financial leakages, encourage foreign and domestic investments [...]

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    Lopsided PSCs: IOCs made nearly double of NNPC’s revenue in three years

Lopsided PSCs: IOCs made nearly double of NNPC’s revenue in three years

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    NNPC extends direct-sale-direct-purchase contracts till December 2018

NNPC extends direct-sale-direct-purchase contracts till December 2018

Maikanti Baru, group managing director of Nigerian National Petroleum Corporation (NNPC), says direct-sale-direct-purchase (DSDP) contracts have been extended till December 2018.The agreement allows for sales of crude oil to refiners, who will in turn supply NNPC with an equivalent worth of petroleum products. [...]

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    ‘All options are on the table’ — Kachikwu on OPEC output decision

‘All options are on the table’ — Kachikwu on OPEC output decision

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    ALERT: Niger Delta group reveals ‘planned attacks’ on Agip oil facilities

ALERT: Niger Delta group reveals ‘planned attacks’ on Agip oil facilities

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Exchange Rates

August 17, 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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