Oil and Gas

Lafia, March 29, 2023 – Crude oil exploration in Nasarawa State by NNPCL started officially on Tuesday with President Muhammadu Buhari flagging off the activities. The President performed the flag-off virtually. He expressed optimism that the spud-in of the Ebenyi-A Well located in Obi Local Government Area of the Nasarawa State would ultimately deliver outcomes that would benefit the surrounding communities and the nation. The President thanked the government and people of Nasarawa State, and especially the host community, for their support and collaboration towards the success of the exploration …

Abuja, March 5, 2023 – The Nigerian National Petroleum Company Limited has advised Nigerians against panic buying of petrol as it has adequate supply for now. It said it had about 2.1 billion litres of petrol in stock. The NNPC said this in a statement by its Chief Corporate Communications Officer, Garba Deen Muhammad. It said the 2.1 billion litres in stock represented 0.9 billion litres in all the land depots nationwide and 1.2 billion litres on marine vessels. NNPCL said the stock was also adequate for 35 days sufficiency …

Abuja, March 3, 2023 – The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it has begun investigation into Thursday’s explosion near a pipeline in Emohua Local Government Area of Rivers. Its Chief Executive Officer, Gbenga Komolafe, said on Friday in Abuja that it started the investigation in conjunction with relevant stakeholders and would provide updates appropriately. According to Mr Komolafe, the investigation is in line with NUPRC’s statutory regulatory oversight on upstream operations in the oil and gas industry. “NUPRC wishes to announce that an explosion leading to a major …

Abuja, Feb. 18, 2023 – The Nigerian National Petroleum Company Limited (NNPCL) says it now spends over N400 billion monthly to subsidise importation of petrol. The NNPCL Group Chief Executive Officer, Mele Kyari, said this on Friday at the oil firm’s ongoing Final Cutover to NNPC Ltd from being a corporation. He said the company was now spending about N202 as subsidy on every litre of petrol consumed across the country. Kyari said that NNPL was pumping about 65 million litres of PMS daily into the market to keep the country …

Abuja, Feb. 8, 2023 – Ayuba Wabba, the outgoing President of the Nigeria Labour Congress (NLC) has called for policy changes in the oil and gas sector. Mr Wabba made the call on Tuesday in Abuja at the NLC 13th Quadrennial National Delegates Conference.  “Rather than seek a reduction in petrol prices, labour would seek a policy change. “It is sad that people queue endlessly at the banks to access money and at filling stations to buy fuel. “Nigerians have been pushed to the wall concerning getting their money in …

Lagos, Feb. 8, 2023 – The Independent Petroleum Marketers Association of Nigeria (IPMAN) says the management of the Nigerian National Petroleum Company Ltd. (NNPCL) has allocated petrol to its members directly to ease scarcity. Mr Chinedu Okoronkwo, the National President of IPMAN, confirmed this on Tuesday in Lagos after the IPMAN NEC meeting with NNPCL retails management Okoronkwo said the order was issued after a closed-door meeting of IPMAN executive and NNPCL management. He said the meeting resolved that IPMAN members should load petrol at NIPCO, MRS and other loading …