The Nigerian National Petroleum Company Limited (NNPCL) may begin importation of 110, 000 barrels of crude oil per day from Venezuela or Saudi Arabia to operate the Kaduna Refinery due to come on stream next year.

Also, the Dangote, Bua and other refineries may be forced to import about 1.322 million barrels of crude oil per day amid oil production challenges in Nigeria, existing contracts on crude oil swap as well as other commercial issues.… Read the rest

Gas sector operators under the Nigerian Gas Association (NGA) have urged the Federal Government to streamline taxes and levies with new initiatives.

The group made the call during a courtesy visit to the Special Adviser to the President on Energy, Mrs. Olu Verheijen.

Led by its President, Akachukwu Nwokedi, the association also called for a review of the Petroleum Industry Act (PIA) provisions that impact the ease of doing business in the sector.… Read the rest

The Crude Oil Refineries-owners Association of Nigeria (CORAN) has lauded the move by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) over what it described as a decision by the NUPRC to enforce domestic crude supply obligations which non-implementation has so far stifled some local refineries from optimizing production and making refined products available in the local market

NUPRC is the government body charged with the statutory responsibility of ensuring compliance with petroleum laws, regulations and guidelines in the Upstream Oil and Gas Sector.… Read the rest

The House of Representatives on Friday vowed to help the federal government to recover $20 billion unremitted revenues from the oil and gas sector. They also vow to legislate for energy security, professionalism in the petroleum sector, economic transformation, accountability, institutional reforms and revenue recovery and generation.

This is even as it promised to carry out a comprehensive audit of the Premium Motor Spirit (PMS) subsidy regime, adding that the early remittance of Federal revenues and recovery of unremitted revenues is part of what the Committee would focus on in the coming days.… Read the rest

As culled from Reuters’ publication Nigeria’s state oil firm NNPC Ltd will supply the new 650,000 barrel-per-day Dangote oil refinery with up to six cargoes of crude oil in December to be used in test runs, three industry sources with knowledge of the matter said.

The refinery, funded by Africa’s richest man, Aliko Dangote, will transform oil trading in the Atlantic Basin and remove a lucrative outlet for fuels produced in Europe and the United States that have for years powered the cars, trucks, and generators on the continent.… Read the rest

Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote, has said the newly acquired Heat Treatment Furnace and Dish Heads Forming Machines of indigenous MG VowGas would raise foreign exchange and create employment opportunities for Nigerian youths.

Wabote at the commissioning of the facility in Port Harcourt, Rivers state, explained that before now, fabrication of high magnitude work in oil and gas were done outside Nigeria, inducing capital fright and reducing our foreign exchange.… Read the rest

The Federal Government (FG) has launched a new Monitoring and Evaluation Reporting Template for stakeholders of the oil and gas industry in Nigeria.

The new template was conceptualized and presented to the oil and gas stakeholders by the Nigerian Content Development and Monitoring Board (NCDMB).

NCDMB, in a statement on Thursday, said this is in line with the provisions of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010 and the Nigerian Content 10-Year Strategic Roadmap.… Read the rest

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it will enforce crude supply obligations to local refineries.

The Commission Chief Executive, Engr. Gbenga Komolafe said this on November 1, while meeting with crude suppliers in Abuja.  

According to him, the NUPRC is committed to upholding the domestic crude oil supply requirements outlined in the Petroleum Industry Act (PIA) of 2021 to ensure ample crude oil provision to local refineries.… Read the rest

The  Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the commission is committed to effective implementation of the Petroleum Industry Act (PIA 2021) for the sector to contribute more to national economy.

The commission says it will ensure that relevant sections of the PIA that affect its operations are duly implemented, including the Domestic Crude Oil Supply to licensed refineries in Nigeria.… Read the rest

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has put its members on alert for a nationwide strike after labour leaders were attacked and brutalized in the southeastern state of Imo.

NUPENG President Prince Williams Akporeha condemned the attack in a statement on Wednesday, calling it an “act of violence and barbarism” that “cannot be accepted in a democracy.”… Read the rest