April 15, 2014
Gas supply hits one trillion cubits in Nigeria

The recurrent problem of gas supply to power plants across the country, noted as one of the critical issues that require urgent attention to stimulate efficient power delivery in the country, will soon be a thing of the past, as the nation’s gas reserves has hit over one trillion cubits.   Speaking at the closing…

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March 3, 2014
Oil swap: NNPC denies alleged shady deals

Management of the Nigerian National Petroleum Corporation, (NNPC) on Tuesday at the House of Representatives denied claims that its crude oil exchanged under swap deals were given out at lower prices to Swiss oil trading companies. The denial became necessary due to summon the corporation received from the House to appear and explain rationale behind allegations…

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December 10, 2013
Local firms to produce 30% of Nigeria’s oil, gas by 2018

Atlantic Energy target 8b barrels of crude in five years Opportunities available to Nigerian indigenous oil and gas companies could hit eight billion barrels of crude oil, and 46 trillion cubic feet of natural gas gross reserves by 2018. According to Scott Aitken, co-chief Executive Officer of Atlantic Energy, the indigenous companies in Nigeria’s multi-billion dollar…

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November 28, 2013
Reps, NNPC and missing $13.9b crude revenue

The Nigerian National Petroleum Corporation (NNPC) sold $20.9 billion crude, but only remitted $7 billion, according to the House of Representatives which has ordered another round of investigation into crude oil sales and remittances by the corporation reports SENIOR CORRESPONDENT, Adeola Yusuf. The Nigerian National Petroleum Corporation (NNPC), for the umpteenth time, made the headlines…

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November 28, 2013
$9.3bn underpayments: NEITI plans regulations against oil firms

The Nigeria Extractive Industry Transparency Initiatives (NEITI) on Monday said it is working on a additional regulation that would allow it impose sanctions on oil companies and oil related government agencies for not complying with remedial issues raised in its latest audit reports. Executive Secretary of NEITI, Mrs. Zainab Ahmed disclosed this shortly after a…

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November 13, 2013
Plan ahead of decline in US crude import, stakeholders tell FG

The Federal Government was on Tuesday reminded of the urgent need to plan ahead of the eventual shift to Shale gas production in United States, which has already cost Nigeria over one million barrels per day export to the world’s largest economy. This was the submission of stakeholders at the on-going Annual International Conference and Exhibition…

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