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Nigeria turns an OPEC laggard as oil demand surges above 100 mbd
Sopuruchi Onwuka Nigeria’s crude oil production maintained fluctuating trend in December 2021, shedding 43,000 barrels per day to end the year at 1.338 million barrels per day. According to the Monthly Oil Market Report of the Organization of Petroleum Exporting…
NLNG set to crash domLPG prices with supply glut
Sopuruchi Onwuka Africa’s largest gas processing company, the Nigerian Liquefied Natural Gas (NLNG) Limited, has determined to take full responsibility in supplying the domestic market with natural gas liquids mainly used as cooking gas. The company also warned the public…
Vandals throw power sector into crisis
Sopuruchi Onwuka Separate vandal attacks on two key gas pipelines have triggered fuel supply crisis across the nations upstream power sector, with operators of major thermal stations drastically cutting electricity generation due to acute gas shortage. Our enquiries showed that…
NIPCO positions for new regulatory environment
Sopuruchi Onwuka The Nigerian Independent Petroleum Company (NIPCO) has declared readiness to align its operations with the emerging regulatory environment as the Petroleum Industry Act (PIA) rolls into effect. The Oracle Today reports that the new law comes with far…
2021: Crude oil ruled commodity markets
Sopuruchi Onwuka Despite the vigorous push by the advanced industrial nations and environmental activists in 2021 to accelerate transition of demand from fossil fuels to greener renewable energy, petroleum commodities maintained strong market resilience in both demand and price. In…
OPEC: Barkindo to bow out as Sec Gen in August
Sopuruchi Onwuka Nigeria’s oil diplomacy maestro, Dr Mohammad Sanusi Barkindo, who has functioned as the Secretary General of the Organization of Petroleum Exporting Countries (OPEC) since 2016, will serve out his tenure this July and yield the position to newly…
Reasons why oil majors are leaving Nigeria
Sopuruchi Onwuka Key issues bordering mainly on the congeniality of business environment form the major reasons why Nigeria’s traditional petroleum industry partners are scaling down their businesses in the country in a move that have clearly indicates eventual exit from…
‘Lagos pipeline blast will not affect fuel supply’
Sopuruchi Onwuka A pipeline explosion at Iyana Odo area of Lagos State which has led to the shutdown of the critical System 2B fuel supply trunk line of the Nigerian National Petroleum Company (NNPC) Limited will not lead to shortage…
NNPC earns N203bn fuel income in July
Gas production rises by 4% A total sum of ₦203.73billion was made on the sale of white products in the month of July 2021 by the Petroleum Products Marketing Company (PPMC), a downstream subsidiary of the Nigerian National Petroleum Company…
Defamation: Oil industry group demands justice for Wabote
Sopuruchi Onwuka An association of indigenous petroleum players in the country have risen in support of the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr Simbi Wabote, in his demand for justice over defamatory publication by…
