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NLNG to supply 350ktpa of DLPG through dedicated vessel

  Nigeria LNG (NLNG) has reiterated its commitment to continue to support growth of the LPG industry by dedicating 350,000 metric tonnes per annum of cooking gas otherwise known as Domestic LPG (DLPG) to the country, to ensure reliable and affordable supply. NLNG Manager, Sales Administration, Mr. Ahmed Joda said ...

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NLNG to Attain Final Investment Decision on Train 7 Plus In 2018

Nigeria LNG Limited, on Wednesday at the World LNG Summit holding in Portugal, announced that the company, with the full support of its Board, is making steady progress towards achieving Final Investment Decision (FID) on its Train 7 Plus (7+) project during 2018. According to a statement issued by General ...

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OPEC Will Extend The Cut

  There will be an OPEC deal extension—no matter the public tussling between opposing forces in the industry cartel—if the world’s largest oil producers are really determined to end the supply glut. A failure to agree on the market remediation would cause oil prices to plummet immediately, forfeiting any gains ...

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No Tariff Increase For Now in Power Sector – VP Osinbajo

    Yemi Osinbajo, Vice President of Nigeria       ***We will not permit smuggling from neighbouring countries   ***We are making the point to our neighbors, that smuggling is an existential threat, we can’t permit the level of smuggling going on. 27/11/2017/Press Release REMARKS BY THE VICE PRESIDENT, ...

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NNPC to select core investor for Benue bio-fuel project

  The Nigerian National Petroleum Corporation (NNPC) says it has almost concluded discussion on the choice of a core investor for the proposed bio-fuel plant in Benue. The Group Managing Director of the corporation, Dr Maikanti Baru, said this in a statement issued by Mr Ndu Ughamadu, NNPC Group General ...

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NNPC, Chevron sign $1.7b deal to increase crude, gas production

Nigerian National Petroleum Corporation (NNPC) and Chevron Nigeria Limited (CNL) have executed the final phase of an Alternative Financing Agreement to increase crude production by about 39,000 barrels per day. The agreement, signed in London, is also expected to achieve an incremental peak production of about 283mmscfd of gas, NNPC ...

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IMproved FX Access for Petroleum Marketers

The National Bureau of Statistics (NBS) has released its latest premium motor spirit (PMS) price watch report. It shows the average monthly price for PMS (petrol/gasoline) paid by households across the country. In August it averaged N144.5/litre (l) for the 36 states of the federation and the FCT, and therefore ...

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NNPC Operating Deficit Halved from N11.9bn to N5.7b

In August the NNPC’s operating deficit halved from N11.9bn the previous month to N5.7bn (US$19m). Before central costs and ventures, a profit from production (N28.0bn) covered the losses from refineries (N4.6bn) and retail/marketing (N13.4bn). The corporation’s Financial and Operations Report for August notes a welcome pick-up in crude output (including ...

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NERC formally presents eligible customer regulations to Fahola* Urges NERC to speed up work on the regulation on Meter

Hon. Minister of Power, Works & Housing, Mr Babatunde Fashola, SAN(right) being presented copies of the Eligible Customers Regulations 2017 from the Vice Chairman, Nigerian Electricity Regulatory Commission, Mr Sanusi Garba (left) during a brief presentation event at the Ministry of Power, Works & Housing Headquarters, Mabushi, Abuja on Monday ...

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