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