Saturday, February 16, 2019
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Petrobarometer

    Great news for 2019 budget as first Egina cargo hits oil market

Great news for 2019 budget as first Egina cargo hits oil market

The 2019 budget has just received a boost as the very first cargo of crude oil from Total's new Egina oil field hit the international oil market for futures trading.According to Reuters, the new Nigerian oil "grade has been added to the February loading programme".Following forward trading in the oil market, the first cargoes from Total’s newly producing Egina offshore field, [...]

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    Vandalism, poor funding lead to Nigeria’s worst crude oil loss in 18 years

Vandalism, poor funding lead to Nigeria’s worst crude oil loss in 18 years

Nigeria recorded the highest crude oil loss in the last 18 years with an average of 245 million barrels of oil “going down the drain” in 2016. [...]

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    Baru: FG now paying N20 subsidy on every litre of petrol

Baru: FG now paying N20 subsidy on every litre of petrol

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    NEITI: Oil and gas sector generated $17.05bn in 2016 — lowest in 10 years

NEITI: Oil and gas sector generated $17.05bn in 2016 — lowest in 10 years

Revenue generated by Nigeria’s oil and gas sector fell to $17.05 billion in 2016, making it the lowest figure recorded in the last 10 years. [...]

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    OPL 245: Shell, Eni knew of ‘illegal payments’ to Nigerian officials, says Italian judge

OPL 245: Shell, Eni knew of ‘illegal payments’ to Nigerian officials, says Italian judge

Giusy Barbara, an Italian judge, says oil giants Eni and Shell were fully aware that their 2011 purchase of OPL 245 would be embroiled in corruption. [...]

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    Senate committee: NNPC used NLNG’s $1.05bn dividend to support fuel import

Senate committee: NNPC used NLNG’s $1.05bn dividend to support fuel import

The Nigerian National Petroleum Corporation (NNPC) says the senate has confirmed that $1.05 billion from Nigeria Liquefied Natural Gas (NLNG) is not missing.According to a statement signed by the NNPC spokesman, Ndu Ughamadu, the funds were used to support the importation of petroleum products into the country."The Chairman of the Senate Committee on Gas, Senator Bassey Albert, Thursday in Abuja, clarified [...]

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    Kachikwu: As long as we subsidise fuel, we will continue to struggle with scarcity

Kachikwu: As long as we subsidise fuel, we will continue to struggle with scarcity

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    Nigeria sues Shell, Eni over Malabu oil deal

Nigeria sues Shell, Eni over Malabu oil deal

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    Nigeria joins OPEC cuts despite higher oil production projections for 2019

Nigeria joins OPEC cuts despite higher oil production projections for 2019

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    FG gets five-day grace as DAPPMAN suspends shutdown

FG gets five-day grace as DAPPMAN suspends shutdown

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    Oil marketers to shut down ALL loading operations by midnight

Oil marketers to shut down ALL loading operations by midnight

The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has directed its members to shut down all loading operations by midnight. [...]

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    FG: We’ll pay oil marketers N236bn on Friday

FG: We’ll pay oil marketers N236bn on Friday

The federal government says oil marketers would be paid N236 billion out of N348 billion approved by the national assembly as outstanding subsidy claims on Friday, December 14.  [...]

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    Buhari: I promise to sign PIB once it is brought to me

Buhari: I promise to sign PIB once it is brought to me

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    Report: OPEC members complaining, say Nigeria is overproducing

Report: OPEC members complaining, say Nigeria is overproducing

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    ‘Total didn’t pay $214m for LADOL’s fabrication yard’ — Samsung speaks on alleged blackmail

‘Total didn’t pay $214m for LADOL’s fabrication yard’ — Samsung speaks on alleged blackmail

Samsung Heavy Industries Nigeria Limited (SHIN) says it did not receive $214 million from Total for the construction of a fabrication yard at Lagos Deep Offshore Logistics (LADOL) Island.In a letter by its representatives sent to TheCable, the Korean company said the payments made to SHIN were part of the Egina floating production storage offloading (FPSO) contract price.Samsung also claimed [...]

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    NNPC: Why we gave pipeline surveillance contract to Oshiomole’s friend

NNPC: Why we gave pipeline surveillance contract to Oshiomole’s friend

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Exchange Rates

February 15, 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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