National Association of Itsekiri Graduates has accused oil and gas giant, Chevron Nigeria Limited, of marginalization in its recent recruitment exercise, threatening the company with “showdown.”

NAIG alleged that the oil firm employed about 300 persons “secretly, in flagrant disregard to the Nigerian Oil and Gas Industry Content Development Act, 2010.”

NAIG averred that the oil company “had conducted such large scale recruitment without publishing it in any national daily or on their official website or through a third party.”… Read the rest

Exploration of crude oil exploration activities at the Kolmani Oil Field has become dormant 16 months after a presidential inauguration of exploration activities on the site.

LEADERSHIP reports that at the twilight of the administration of former President Muhammadu Buhari, precisely in November 2022, Nigerian National Petroleum Company Limited, in partnership with New Nigeria Development Company, started drilling crude oil at two oil blocks in Kolmani Oil Field, OPL809 and OPL810 accordingly.… Read the rest

A survey of oil production for the month of March carried out by S&P Global Commodity Insights, has found that Nigeria’s crude oil production declined marginally to 1.45 million barrels per day from the 1.47 million bpd the previous month.

Although, output has generally increased this year, Nigeria’s Organisation of Petroleum  Exporting Countries (OPEC) production figures have been largely inconsistent.

Nigeria blames massive oil theft, declining investment in the oil and gas sector , outright sabotage, among others, as reasons for its inability to meet its current revised 1.5 million bpd output, from 1.8 million bpd in 2023.… Read the rest

Gas Oil, popularly called diesel, being produced by the Dangote Petroleum Refinery to between N700 and N850/litre, as operators plan to meet managers of the refinery next week.

The largest downstream marketing association, the Independent Petroleum Marketers Association of Nigeria, which made the call in an interview with The PUNCH, said the N1,225/litre diesel price from the indigenous refinery was high because the commodity was produced in Nigeria and not imported.… Read the rest

As the Nigerian National Petroleum Company, NNPC Limited, moves to end petrol scarcity in Lagos and its environs, Dangote Refinery and oil marketers have intensified efforts at taking final decisions on pricing and delivery of petrol to filling stations nationwide.

Dangote Refinery, which can refine 650,000 barrels per day, bpd of crude oil, intends to commence production and distribution of the product, the bulk of which is currently imported from the global market, in May 2024.… Read the rest

The Nigerian power sector has received assurance and approval from the federal government over settlement of outstanding debts owed to gas companies providing gas supply  to the  stations

The Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo gave the assurance when he spoke at the recently organized Nigerian business community meeting with the President Ahmed Bola Tinubu in Abuja

According to him, ‘’when I came to office ,I inherited a debt in the decade of gas, and when you charge me to ensure an increase in gas provision , I have been working round the clock, to see how we can achieve that.… Read the rest

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has stressed the need for the Nigerian National Petroleum Company Limited (NNPC) to explain to Nigerians how funds deployed for the drilling of oil at the Kolmani River between Bauchi and Gombe states were expended.

The Principal Consultant to IPMAN, Mr. Maurice Ibe made the call Wednesday night while featuring on the Prime Time, a programme on Arise News Channel.… Read the rest

The Petroleum Technology Association of Nigeria (PETAN) has raised the alarm that Nigeria has been losing about $15 billion daily to oil under production.

It explained that the country is underproducing to the tune of at least 500,000 barrels per day, which he said was equivalent to $15 billion and hundreds of trillions of naira in excess of the national budget per year.… Read the rest

The Nigerian Gas Association (NGA) has commended the Federal Government for the recent gazetting of three pivotal policy directives, heralding a monumental leap towards unlocking investments in the oil and gas sector.

These directives comprise multifaceted strategies, including introducing fiscal incentives for non-associated gas, midstream, and deepwater developments, streamlining the contracting process to compress the contracting cycle to six months, and applying local content requirements without hindering investments or cost competitiveness.… Read the rest

One year after Lekki Port, Nigeria’s first deep seaport, commenced commercial operations, the port has welcomed 75 vessels and handled over 100,000 containers, the management has said.

The port, which marked one year since it officially, commenced commercial operations on April 1, 2024, has also facilitated over 25,000 transshipments of cargo destined for neigbouring West African countries.

According to a statement on its official X handle @LekkiPort, the past year has been a remarkable journey for Lekki Deep Sea Port since the berthing of GSL Alice on 6th April 2023.… Read the rest