Nigeria suffered a setback in its effort to meet its Organisation of Petroleum Exporting Countries (OPEC) crude oil quota in November, under-producing by as much as 3 million barrels in the whole of the month compared to October. According to the OPEC figures released yesterday, the country self-reported a production of
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Oil cartel, Organisation of Petroleum Exporting Countries (OPEC’s) crude oil production dipped in November for the first monthly decline since July as Nigeria and Iraq saw lower shipments, it was gathered yesterday. OPEC produced 27.81 million barrels per day (bpd) of crude last month, a drop of 90,000 bpd compared to
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The Nigerian National Petroleum Company Limited (NNPC) yesterday announced that it had signed two major agreements to deliver Liquefied Natural Gas (LNG) to the domestic and international gas markets. The national oil company in a statement signed by its Chief Corporate Communications Officer, Olufemi Soneye, said the move aligned with its
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The reapportionment of the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mallam Mele Kyari by President Bola Ahmed Tinubu is a reward for the performance of the NNPC boss which has placed the national oil company and the nation’s oil and gas industry on a positive
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French oil and gas giant, TotalEnergies has confirmed the first crude oil leak at its 2.3 million storage capacity Egina Floating Production Storage and Offloading (FPSO) vessel, located in Port Harcourt, Rivers, stating that the incident had been contained. The oil major in a terse message sent to THISDAY, yesterday, by
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The recent efforts by the Nigerian Content Development and Monitoring Board (NCDMB) and the Nigerian National Petroleum Company Limited (NNPC) to reduce upstream projects’ contracting cycle and enable quick development of major oil and gas assets have hit a brick wall, as Shell has, reportedly, withdrawn from the Memorandum of
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Output from the Dangote refinery is expected to displace the country’s fuel and chemical imports in 2024, the Economic Intelligence Unit (EIU) has said. The EIU forecasted a “tentative” increase in Nigeria’s crude oil production from an average of 1.12 million barrels per day (bpd) in 2022 to 1.4 million bpd
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The Dangote Petroleum Refinery’s admission that it missed its August target date to commence production because it could not get crude oil from the Nigerian National Petroleum Corporation Limited reflects how Nigeria’s oil industry is being grossly mismanaged. In an interview with S&P Global Commodity Insights, an Executive Director of
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To combat the extreme environmental toll of major oil spills, researchers at The University of Texas at Austin have created a technology that could significantly improve cleanup capabilities compared with current methods. The new technology uses a dual-layer mesh roller coupled with an induction heating technique, with material properties that allow
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AS part of its efforts to achieve energy security in the country, the Federal Government said it would commence the integration of artisanal refiners into mainstream crude oil refining process. The move aside from providing sustainable energy sources for Nigerians, also advances responsible practices in the oil and gas sector to
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