Saturday, November 17, 2018
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Petrobarometer

    Crude oil prices unstable as markets anticipate increased OPEC output

Crude oil prices unstable as markets anticipate increased OPEC output

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    71 days after passage, national assembly ‘transmits’ PIGB to presidency

71 days after passage, national assembly ‘transmits’ PIGB to presidency

The national assembly says it has transmitted the petroleum industry governance bill (PIGB) to President Muhammadu Buhari.This comes 71 days after the national assembly passed a harmonised version bill into law on March 28.The PIGB is the first of the four-part petroleum industry bill. [...]

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    Croatia, Japan, Benin Republic… these countries have ignored Nigerian crude since 2015

Croatia, Japan, Benin Republic… these countries have ignored Nigerian crude since 2015

Reports made available by the Nigerian National Petroleum Corporation (NNPC) show that Croatia, Benin Republic and Japan have not purchased crude oil from Nigeria since 2015.In the case of Japan, it has not purchased Nigerian crude since 2014. [...]

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    REVEALED: Nigeria has not reviewed production sharing contracts since 2008

REVEALED: Nigeria has not reviewed production sharing contracts since 2008

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    Prioritise Niger Delta indigenes in awarding new oil licences, Edwin Clark to FG

Prioritise Niger Delta indigenes in awarding new oil licences, Edwin Clark to FG

Edwin Clark, Ijaw leader and convener of Pan-Niger Delta Forum (PANDEF), says indigenes of the Niger Delta should be prioritised in the award of new oil licences.Clark made the remark at a press briefing in Kiagbodo, Delta state, on Wednesday. [...]

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    NBS: Europe was Nigeria’s largest crude customer in Q1 2018

NBS: Europe was Nigeria’s largest crude customer in Q1 2018

The Foreign Trade in Goods report for the first quarter of 2018 shows that most of Nigeria’s crude was purchased by countries in Europe.The report, which was released by the National Bureau of Statistics on Wednesday, said crude oil accounted for 76.3% of the total exports in that quarter. [...]

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    NNPC rejects Falana’s FOI request on fuel importation, says it is not a public institution

NNPC rejects Falana’s FOI request on fuel importation, says it is not a public institution

The Nigerian National Petroleum Corporation (NNPC) says it cannot honour freedom of information (FOI) requests because it is not a public corporation.Femi Falana, a senior advocate of Nigeria, had written an FOI concerning fuel importation data. [...]

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    Ogoni clean-up exercise to commence August, says minister

Ogoni clean-up exercise to commence August, says minister

The federal government says the clean-up of affected sites in Ogoniland will begin in August. [...]

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    FG to begin transportation of petroleum products by rail

FG to begin transportation of petroleum products by rail

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    FG to announce refinery maintenance financiers in July

FG to announce refinery maintenance financiers in July

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    Forcados shutdown drags down OPEC’s May output

Forcados shutdown drags down OPEC’s May output

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    Experts: Nigeria’s petroleum industry groping in the dark without PIGB

Experts: Nigeria’s petroleum industry groping in the dark without PIGB

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    PIGB suffers setback as national assembly begins fresh legislative action

PIGB suffers setback as national assembly begins fresh legislative action

The Petroleum Industry Governance Bill (PIGB) has new hurdles to scale before it can be passed into law. [...]

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    ‘Soldiers massively stealing oil in Niger Delta’ — group petitions Buhari

‘Soldiers massively stealing oil in Niger Delta’ — group petitions Buhari

Bille Youth Vanguard, a community group in Rivers state, has written a petition to President Muhammadu Buhari, concerning illegal bunkering activities allegedly carried out by soldiers.  [...]

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    Oil marketers: Unpaid N650bn subsidy arrears made retrenchment necessary

Oil marketers: Unpaid N650bn subsidy arrears made retrenchment necessary

Major Oil Marketers Association of Nigeria (MOMAN) says the non-payment of their N650 billion subsidy claims made retrenchment necessary.The association told NAN on Saturday that the federal government's failure to pay the claims has had a negative effect on operations.[...]

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    Back in the green: FAAC resumes savings in excess crude account

Back in the green: FAAC resumes savings in excess crude account

The federation accounts allocation committee (FAAC) says members have agreed on the transfer of N24.5 billion to the excess crude account.Mahmoud Isa-Dutse, permanent secretary in the ministry of finance, made this known on Wednesday while addressing journalists at the end of the meeting. [...]

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Exchange Rates

November 16, 2018USDGBPEUR
INTERBANK306397354
LAGOS359475418
KANO359476420
PH360476420
ABUJA359478419
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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