The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has debunked speculations that the country lacks capacity to contain oil spillages as witnessed in Nembe, Bayelsa State, insisting that there is adequate local oil spill containment capacity in Nigeria. NUPRC in response to enquiry, Head of Public Affairs of the organisation, Mr. Paul
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The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), formerly Department of Petroleum Resources (DPR), has described the allegations indicting the commission of complacency in the Santa Barbara oil spill in Nembe, Bayelsa State, by the National Oil Spill Detection and Response Agency (NOSDRA) as unfounded. Saturday Sun had on Thursday reported an
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Nigeria’s hope of improved production may have been re-ignited as a result of the lifting of force majeure on crude exports by Shell Petroleum Development Company of Nigeria (SPDC) from Bonny Light terminal following repairs to a leaking pipeline. Operational issues have hampered Nigeria’s crude production throughout the second half of
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The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), has said the Duport Modular Refinery is on track to be completed before the end of December 2021. The Duport Energy Park situated at Ebbokor in Edo State, when completed will comprise of a 10,000 barrels perday modular
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The African Export-Import Bank, Afreximbank, has signed a $1.04 billion dollar facility with the Nigerian National Petroleum Corporation, NNPC, to finance oil exploration. A statement issued by the bank on Wednesday, said that the agreement was concluded in Durban, South Africa, at the second Intra-Africa Trade fair (IATF2021), which began on
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The Organization of Petroleum Exporting Countries next meets on December 2, 2021 after crude prices climbed about 60% this year to $80 a barrel. Several energy executives and leaders such as Vladimir Putin are saying they could get to $100. Oil prices will probably hold above $80 a barrel, while the
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Confirming reports of low production and inability of the country to meet its crude oil quota, the latest monthly report of the Organisation of Petroleum Exporting Countries (OPEC) has shown that Nigeria’s rig count slumped to nine from 11. Despite the Federal Government’s readiness to pump more oil and increase its
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The sabotage of oil installations and the resultant repairs of pipelines have depleted Nigeria’s income by N898.93bn this year, reports Between January and September 2021, Nigeria lost N898.93bn to crude oil losses and repairs of vandalised pipelines, among others, documents obtained from the Nigerian National Petroleum Company Limited showed. Also, it was gathered
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The Petroleum Products Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation, has said the annual subsidy on Premium Motor Spirit (petrol) will rise to N3tn if the current market realities persist. The Managing Director, PPMC, Mr Isiyaku Abdullahi, said this at a panel session during the 15th OTL Africa
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The Islamic regime in Iran blamed a massive cyberattack for disrupting Iran’s fuel distribution network , leaving puzzled motorists stranded in long lines as gas stations mysteriously shut down. President Ebrahim Raisi called the attack an attempt to make the Iranian people “angry” by “creating disorder and disruption,” but it claimed
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