Oil & Gas

The Nigerian National Petroleum Company (NNPC) Ltd has reported a profit of N2.548 trillion in 2022, a 271% growth from N674.1 billion in 2021. The national oil company in its 2022 Financial Performance Report posted online described the profit as the highest since its inception in 1977. The financial report…

By Folarin Emmanuel   The Nigerian National Petroleum Company Ltd. (NNPC Ltd.) has assured that the projections on crude oil production and price benchmark for the 2024 Budget were realistic and realizable. The Group Chief Executive Officer (GCEO) of the Company, Mr. Mele Kyari, gave the assurance during an interactive…

Africa should reposition the energy industry for the future and become much more efficient with its energy resources, the Chief Executive Officer, Seplat Energy Plc, Mr. Roger Brown has said. He urged African countries to accept the fact that energy has a key role to play in the future of…

The GCEO, NNPC Ltd, Mele Kyari has charged stakeholders within the Nigerian oil and gas industry to adapt, evolve and lead in the ever-changing global energy landscape.   Kyari gave this charge on Tuesday while delivering an Industry address at the opening ceremony of the 41st Nigerian Association of Petroleum…

The NNPC/ Aiteo Joint venture has announced the introduction of Nembe Crude Oil Grade, a new crude oil grade into the international crude oil market. The Chief Corporate Communications Officer, NNPC Ltd, Mr Olufemi Soneye disposed this on Wednesday, said the announcement of the Nembe Crude Oil Blend, produced by…

The Nigerian National Petroleum Company Limited (NNPC Ltd.) will continue to collaborate with the Nigeria Extractive Industries Transparency Initiative (NEITI) and all relevant stakeholders in the Reconciliation Committee set up by President Bola Ahmed Tinubu to investigate, review and reconcile the financial records on alleged indebtedness to the Federation by…

Nigerian National Petroleum Company Ltd. (NNPC Ltd) has confirmed that a Nigerian company, Holab Maritime Services Limited owned the vessel that was conveying 800,000 litres of suspected stolen crude oil which was intercepted by a private security contractor that it engaged. NNPC Ltd said the vessel MT TURA II, IMO…

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said that  its focus is to exceed the Organisations of Petroleum Exporting Countries (OPEC)’s oil production quota of 1.74 million barrels per day (bpd). The Chief Executive, Mr Gbenga Komolafe, made the assertions shortly after he received an Award of Excellence from…

Seplat Energy Plc, a leading Nigerian independent energy company listed on both the Nigerian Exchange Limited (NGX) and the London Stock Exchange (LSE) has held its 10th Annual General Meeting (AGM) virtually with shareholders, regulators, company directors, and the media, amongst other stakeholders joining virtually. In his address to shareholders…

President Muhammadu Buhari on Tuesday inaugurated the first oil drilling of the Ebenyi-A Exploration Well located in the Middle Benue Trough in Obi Local Government Area of Nasarawa State. Buhari in his virtual spud-in ceremony of the Well, admonished the Nigerian National Petroleum Company Ltd. (NNPCL) and its partners to…