17th - 21st March
Trans Niger Pipeline Crude Rerouted, Says Renaissance Spokesperson.
This was after blasts ruptured the main line on Tuesday. The spokesperson said the alternative line passed an integrity test on Wednesday and subsequently crude was diverted as repairs continued on the main line. He also said that after preliminary investigations, arson was suspected.
The Trans Niger Pipeline, with a capacity of around 450,000 barrels per day, is one of two pipelines exporting Bonny Light crude from Nigeria, Africa’s biggest oil producer.
It is owned by Nigerian oil consortium Renaissance Group, after Shell’s local unit sold its shares to Renaissance Energy, which includes Nigerian exploration and production companies……
Nigeria declares a state of emergency in Rivers state over oil pipeline vandalism.
Nigerian President Bola Tinubu declared a state of emergency on Tuesday in oil-producing Rivers state and suspended the state governor, his deputy and all lawmakers.
Tinubu, in a television broadcast, said he had received security reports in the last two days of “disturbing incidents of vandalization of pipelines by some militants without the governor taking any action to curtail them”.
“With all these and many more, no good and responsible president will standby and allow the grave situation to continue without taking remedial steps prescribed by the constitution to address the situation in the state,” added Tinubu…….
Nigeria’s 37.5 billion barrels of oil to last 70 years- NUPRC
The Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, has revealed that Nigeria’s crude oil reserve of 37.5 billion barrels and its 209.26 trillion cubic feet of natural gas is projected to sustain the nation’s energy needs for the next 70 and 90 years, respectively.
The CCE made the declaration on Tuesday at the Decarbonisation and Energy Sustainability Forum in Abuja.
The NUPRC boss who spoke on the theme, “Navigating the Global Energy Transition: Leveraging Decarbonisation in Nigeria’s Upstream Oil & Gas for Sustainable Value Creation.” also made a strong appeal to stakeholders in the Nigerian oil and gas industry, urging them to work together in navigating the energy transition………
Explosion rocks Soku Oil facility in Rivers, probe underway.
An explosion has rocked the Soku oil facility operated by Nigeria Liquefied Natural Gas (NLNG) Limited in Akuku Toru Local Government Area of Rivers State.
This comes barely a week a similar explosion hit the Trans Niger Pipeline in Bodo, Gokana local government area of the same state, currently under an emergency rule.
The development raises fresh concerns over the security and safety of critical oil infrastructure in the region.
The cause of the explosion remains unclear, whether it resulted from equipment failure, sabotage or a targeted attack on the facility……
10TH -14TH MARCH.
Reps to set up oil pipeline assessment ad-hoc committee.
The House of Representatives has resolved to constitute an ad-hoc committee to investigate the state of oil and gas pipelines across Nigeria.
The call followed adoption of a motion by Rep. Mohammed Shehu (APC-Kano State) and 14 other lawmakers at plenary on Tuesday in Abuja.
Moving the motion, Shehu said that Nigeria’s oil and gas sector remained the backbone of the national economy, contributing approximately nine per cent to the Gross Domestic Product (GDP) while generating over 90 per cent of export revenues. The lawmaker said that effective transportation of petroleum resources depended on the integrity of the country’s pipeline infrastructure.
NNPCL Clarifies Naira Crude Contract With Dangote Refinery.
The Nigerian National Petroleum Company Limited (NNPCL) has reacted to recent reports circulating on social media regarding the alleged unilateral termination of the crude oil sales agreement in Naira between with Dangote Refinery.
Clarifying the situation in a statement on Monday, the NNPCL Chief Corporate Communications Officer, Olufemi Soneye, said the contract for the sale of crude oil in Naira was structured as a six-month agreement, subject to availability, and expires at the end of March 2025. He said that discussions are currently ongoing towards emplacing a new contract.
He added that in aggregate, the NNPCL has made over 84 million barrels of crude oil available to the Refinery since its commencement of operations in 2023………..
Nigeria now able to meet OPEC production target, says NNPC executive
Nigeria has successfully reached its OPEC oil production targets after years of falling short, according to a top official from the country’s state oil company.
Udobong Ntia, Executive Vice President of Upstream at NNPC, confirmed this achievement during the CERAWeek conference by S&P Global in Houston on Tuesday.
“In January, I think we’re back on targets… I’m positive we will be able to meet our targets,” Ntia stated on the sidelines of the event.
Oil production in Nigeria rose to 1.75 million barrels per day (bpd) in January, up from 1.5 million bpd in December. “Production is on an incline,” Ntia added.
Oil Theft: Senate Engages Foreign Experts To Track Illegal Vessels On High Seas
The Senate has announced that it has invited international experts with capacity to track illegal vessels being used by oil bunkering barons to steal Nigeria’s crude oil from the Niger Delta region of the country.
The Chairman, Senate ad hoc Committee on Crude Oil Theft, Senator Ned Nwoko (APC Delta North), disclosed this Wednesday when he received the executives of the Youth Wing of the HOSTCOM and Pipelines Impacted States Council of Nigeria led by their President, Fiawei Emmanuel Pathfinder, in his office.
Nwoko said his committee would soon organise a public hearing comprising all stakeholders in the oil and gas sector, including policy makers, major industry players…………
Nigeria Sold Over N55trn Worth of Crude Oil in 2024, 10 Countries Biggest Customers.
The National Bureau of Statistics (NBS) has revealed that Nigeria sold N55.28 trillion worth of crude oil in 2024. The bureau reported that Nigeria’s highest crude oil sales for the year occurred in the first quarter, with N15.48 trillion worth of crude sold between January and March (Q1). This represents a 90.63% increase compared to the N29 trillion sold in 2023. This was followed by N12.60 trillion in the second quarter (April–June), N13.40 trillion in the third quarter (July–September), and N13.78 trillion in the fourth quarter (October–December). The NBS also provided information on the countries that purchased Nigeria’s crude oil worth over N13 trillion in Q4…….
17th-21st February
FG Takedown Oil Theft To 5,000 Barrels Per Day.
The Group Chief Executive Officer, NNPC Limited, Mele Kyari has said for the gas export market, the on-going NLNG Train 7 would expand Nigeria’s LNG production capacity to about 30 million tons per annum (30 MTPA).
Kyari, who stated this at the 9th Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC), in Lagos with the theme “Building Africa’s Future: Advancing Local Content and Sustainable Development in the Oil and Gas Industry” said this was in addition to the planned Nigerian-Morocco and the Trans Sahara Gas Pipeline projects which would supply gas to sub-regional African countries and subsequently Europe.
NNPC Limited is also investing heavily in critical gas infrastructure such as the Ajaokuta-Abuja-Kano (AKK) gas pipeline and the OB3 gas interconnector to support 5 Bscf/d of domestic gas utilisation including 5GW of power generation capacity by developing power plant projects………..
FG Takedown Oil Theft To 5,000 Barrels Per Day.
The Group Chief Executive Officer, NNPC Limited, Mele Kyari has said for the gas export market, the on-going NLNG Train 7 would expand Nigeria’s LNG production capacity to about 30 million tons per annum (30 MTPA).
Kyari, who stated this at the 9th Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC), in Lagos with the theme “Building Africa’s Future: Advancing Local Content and Sustainable Development in the Oil and Gas Industry” said this was in addition to the planned Nigerian-Morocco and the Trans Sahara Gas Pipeline projects which would supply gas to sub-regional African countries and subsequently Europe.
NNPC Limited is also investing heavily in critical gas infrastructure such as the Ajaokuta-Abuja-Kano (AKK) gas pipeline and the OB3 gas interconnector to support 5 Bscf/d of domestic gas utilisation including 5GW of power generation capacity by developing power plant projects………..
10th-14th February
‘Train 7 to expand LNG capacity to 30m tons’
The Group Chief Executive Officer, NNPC Limited, Mele Kyari has said for the gas export market, the on-going NLNG Train 7 would expand Nigeria’s LNG production capacity to about 30 million tons per annum (30 MTPA).
Kyari, who stated this at the 9th Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC), in Lagos with the theme “Building Africa’s Future: Advancing Local Content and Sustainable Development in the Oil and Gas Industry” said this was in addition to the planned Nigerian-Morocco and the Trans Sahara Gas Pipeline projects which would supply gas to sub-regional African countries and subsequently Europe.
NNPC Limited is also investing heavily in critical gas infrastructure such as the Ajaokuta-Abuja-Kano (AKK) gas pipeline and the OB3 gas interconnector to support 5 Bscf/d of domestic gas utilisation including 5GW of power generation capacity by developing power plant projects………..
Algeria, Nigeria, Niger Sign Deals On Gas Pipeline To Europe.
The Trans-Saharan Gas Pipeline (TSGP), announced in 2009, would transport billions of cubic metres of gas 4,128 kilometres (2,565 miles) from Nigeria in West Africa through Niger and on to Algeria.
From there it could be pumped through the undersea Mediterranean pipeline Transmed to Italy, or loaded onto liquefied natural gas tankers for export.
At a meeting of ministers for the project in Algiers, the three countries signed contracts on “an update of the feasibility study” and other issues, including non-disclosure agreements among their state energy companies.
The feasibility update will lay out the “required means for accelerating the development of this major project in a timely manner and at competitive costs”, Algerian Energy Minister Mohamed Arkab said…….
NNPC Seeks End to Oil, Power Assets Vandalism, Partners Northern Artistes.
The Nigerian National Petroleum Company Limited (NNPC) yesterday reiterated that the incessant vandalism of key national assets, including oil and gas pipelines, power plants, and energy installations pose a severe threat to the economy and overall development of the country.
Chief Corporate Communications Officer of the NNPC, Mr. Olufemi Soneye, made the remarks at a workshop/engagement session with selected Kannywood Artistes in Abuja.
Soneye stated that as powerful influencers whose voices shape public opinion, the artistes use their platforms to advocate for the protection of national assets, particularly those managed by NNPC.
He said the meeting with prominent members of Kannywood was to strengthen stakeholder relationships and support initiatives aimed at providing energy solutions for Nigerians………
3rd -7th February
Nigeria Generated $831.14bn From Oil & Gas In 24 Years — NEITI.
The Nigeria Extractive Industries Transparency Initiative (NEITI) has stated that Nigeria generated over 831.14 billion dollars in revenue from the oil and gas sector between 1999 and 2023. NEITI’s Executive Secretary, Ogbonnaya Orji, stated this on Monday when he appeared before the Senate Committee on Public Accounts.
He also stated that the country requires $20 billion annually for the next 10 years to develop its gas infrastructure.
The committee, chaired by Senator Ahmed Wadada, was receiving briefings on the findings of NEITI’s 16-cycle reports covering 78 firms in the extractive industries. The NEITI boss also declared that Nigeria generated over 831.14 billion dollars in revenue from the oil and gas sector between 1999 and 2023.
He, however, noted that crude oil theft over the years has cost the country an estimated 701.48 million barrels since 2009, when……….
WAPCo halts Nigerian gas supply to Ghana, Togo, Benin for pipeline maintenance.
The West African Gas Pipeline Company Limited (WAPCO), owner and operator of the West African Gas Pipeline (WAGP), has halted the flow of natural gas from Nigeria to Ghana, Benin and Togo following major pipeline maintenance activities from February 5 to March 2, 2025.
The company said in a statement that these activities include the pigging and the in-line inspection of the 569 km offshore pipeline infrastructure, from Ajido, Lagos State, Nigeria to Takoradi, Western Region, Ghana and the replacement of critical subsea valves at Tema and Cotonou to enhance operational safety.
“This maintenance project will necessitate the temporary suspension of specific services, including the reverse flow transportation of natural gas from Ghana’s…….
NNPC deploys five new CNG cascades in Abuja to boost gas availability.
The Nigerian national Petroleum Company (NNPC) has commenced the deployment of five new Compressed Natural Gas (CNG) cascades at designated stations in Abuja, Effective today.
This initiatives aims to enhance the supply of CNG, providing users with improved access and a more efficient refueling experience.
NNPC reaffirmed its commitment to ensuring a smoother refueling experience by actively monitoring user feedback and making necessary adjustments. The company expressed optimism that this initiative will help reduce waiting times, making CNG refueling more accessible and convenient for riders…….
Firm unveils new tech to end gas flaring, others.
PE Energy Limited, a leading energy services company has unveiled a new technology, Multi-phase Pump and Systems to end gas flaring and boost oil production in Nigeria.
The new technology was unveiled in Lagos at an oil and gas seminar organised by the company in conjunction with ITT Bornemann GmbH under the theme: “Eliminating Gas Flaring and Reducing CAPEX in Production Fields; A Sustainable Approach”.
Chairman, PANA Holdings/Group Chief Executive Officer, PE Energy Limited, Dr. Daere Akobo, noted that the seminar was facilitated to introduce new technology to combat carbon and methane emission, enhance efficiency through………
27th -31st January
Nigeria’s LNG exports drops by 20% as pipeline vandalism persists.
Nigeria’s exports of Liquefied Natural Gas (LNG) dropped by 20% last week, according to data from Bloomberg ship-tracking.
The hit on the country’s LNG exports is due to persistent vandalism and sabotage of pipelines in the Niger Delta region.
The Nigeria LNG Ltd. told Bloomberg that the sabotage and vandalism has curtailed gas supplies to its plant and this is affecting scheduled shipments.
“The loss of facilities due to vandalism and sabotage impacts feed-gas supplies to NLNG and delivery timelines “ , Sophia Horsfall NLNG’s General Manager for external relations and sustainable development, told the international news service…..
NNPCL, partners launch 5 mini-LNG plants in Ajaokuta
As part of efforts to advance domestic gas utilisation and support Nigeria’s Gas Revolution Agenda, the Nigerian National Petroleum Company Limited (NNPC Ltd) and its partners have launched five mini-Liquefied Natural Gas (LNG) plants in Ajaokuta, Kogi State.
According to a statement issued by NNPC Spokesperson, Olufemi Soneye, the groundbreaking ceremony, which took place on Thursday, marked the commencement of construction for the five facilities: NNPC Prime LNG, NGML/Gasnexus LNG, BUA LNG, Highland LNG, and LNG Arete.
Together, the plants boast a total capacity of 97 million standard cubic feet per day (mmscf/d), with the goal of enhancing gas supply for both industrial and domestic purposes.
NNPC Ltd holds a significant stake in three of the projects: a 90% stake in Prime LNG, a 50% stake in NGML/Gasnexus LNG, and a 10% stake in BUA LNG. Meanwhile, Highland LNG and LNG Arete are being developed by private investors……….
Nigeria’s domestic gas consumption hits 10-year high on power, CNG
Investment in power generation, compressed and liquefied natural gas adoption among other factors, have spurred Nigeria’s domestic gas consumption to a 10-year high, the latest report by the Gas Exporting Countries Forum (GECF) has revealed.
Data gleaned from the “Annual Statistical Bulletin 2024” report showed that domestic natural gas consumption rose to 518.42 billion cubic feet (bcf) in 2023, driven by increased industrial demand, power generation needs, and refineries among others.
Power generation topped with 246.14 bcf, industrial followed with 125.01 bcf, petrochemical accounted for 16.6 bcf, refineries 59.33 bcf and others took 71.34 bcf.
“Nigeria’s domestic consumption rose by a notable 13.2% (+60.39 Bcf), reflecting its push toward greater utilisation of natural gas in transportation and economic development……..
NNPC, Partners Target $500m FDI with 5 LNG Plants, To Boost Gas Utilisation.
The federal government has unveiled five mini LNG plants developed by the Nigerian National Petroleum Company Limited (NNPC) and its partners which are poised to transform Nigeria’s energy infrastructure and boost domestic gas utilisation. The five mini-LNG Plants, being developed by the NNPC partners include PRIME LNG, NGML/Gasnexus LNG, BUA LNG, Highland LNG and LNG Arete.
The project will be constructed on 33,000 hectares of land, with a combined capacity of 97 million standard cubic feet of gas per day, and a 500 million dollars investment.
These facilities will provide cleaner energy solutions to underserved regions, fostering economic diversification and supporting local industries……..
20th-24th January
Nigeria generated N8.6tn from gas in 2024.
Nigeria generated approximately N8.6tn from natural gas production in 2024, The PUNCH reports.
Data from the Nigerian Upstream Petroleum Regulatory Commission indicated that the country produced 2.5 trillion cubic feet of gas last year.
The NUPRC data indicated that the country produced 1.44TCF of associated gas.
Associated gas is a form of natural gas found with deposits of petroleum, either dissolved in the oil or as a free ‘gas cap’ above the oil in the reservoir. Similarly, 1.06TCF of non-associated gas was produced in the period under review.
Non-associated natural gas is a type of natural gas that is produced in gas fields that do not contain crude oil.
However, out of the 2.5TCF of gas produced in 2024, 2.31TCF was utilised while 192.89 billion standard cubic feet of gas was flared…….
Good News for Nigerian Students as NNPC Partners Oil Company to Grant UK, Canada, Other Scholarships.
Under its 2024/2025 Scholarship Awards Scheme, Eni’s subsidiary, Nigerian Agip Exploration Limited (NAE), on behalf of NNPC Limited and NAE PSC, has granted scholarships to 30 Nigerian graduates for postgraduate study at Nigerian and foreign universities.
Ten beneficiaries will pursue postgraduate courses at different universities in the UK and Canada as part of the program, The Guardian reported. The remaining recipients will continue their postgraduate studies in fields like engineering, geosciences, petroleum and environmental technology, renewable energy, and petroleum law at universities in Nigeria. The vice chairman and managing director of NAE, Fabrizio Bolondi, greeted the recipients at the ceremony conducted to honor the beneficiaries in Abuja……….
FG projects N84tn revenue in 2025.
Nigeria is planning to rake in about N84.67tn from the sale of crude oil in 2025.
The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, disclosed that the 2025 budget’s crude oil production target was 2.062 million barrels per day and the plan is to sell the crude at $75 per barrel.
The PUNCH reports that 2.062 million barrels per day translates to about 752.63 million barrels within the 365 days in the year.
At a rate of $75 per barrel, 752.63mbpd will translate to $56.45bn. With the exchange rate standing at an average of N1,500 to a dollar, Nigeria is projecting roughly N84.67tn as revenue from crude oil sales.
According to a statement by the NUPRC, Komolafe, speaking recently at the Petroleum Industry ………
179 oil theft incidents uncovered in one week – NNPCL.
The Nigerian National Petroleum Company Limited says it uncovered 179 incidents of crude oil theft in the past week.
The company affirmed that the war on crude oil theft and vandalism rages on as industrywide security collaboration continues to safeguard hydrocarbon infrastructure.
A video released by the NNPC shows the incidents recorded between January 11 and 17 across the Niger Delta region, with 29 illegal pipeline connections and 55 illegal refineries reportedly uncovered within the period.
“Between the 11th and 17th of January 2025, a total of 179 incidents were recorded across the Niger Delta region, thanks to the coordinated efforts of NNPC Limited’s Command and Control Centre, Tantita Security Agency, Pipeline Infrastructure Nigeria Limited…………
13th-17th January
Kyari calls for forensic audit of NNPCL’s accounts.
In a bold demonstration of transparency the Nigerian National Petroleum Company Limited (NNPCL) has called for a forensic audit to be conducted on money spent by it for the stabilisation of C from January to September 2024.
The NNPCL Group Chief Executive, Mele Kyari, also said the Company’s revenue projection for 2025 will be disclosed after the meeting of the board of directors of the Company in two weeks. Kyari while presenting the company’s revenue generation performance to a joint Finance Committee of the Senate and the House of Representatives on Wednesday, said, “Until 1st October 2024, NNPCL, as mandated by the Petroleum Industry Act (PIA), acted as the supplier of last resort, which required a forensic audit to know how much NNPCL is being owed or owing any Agency.
“Our transactional account is very transparent, which is published every year, making NNPCL the only company in Nigeria noted for that and also the highest taxpayer in the country……….
Oil prices surge as OPEC puts Nigeria’s output at 1.5mbpd.
Oil prices climbed above $81 per barrel yesterday, following the release of the latest Monthly Oil Market Report (MOMR) by the Organisation of Petroleum Exporting Countries (OPEC) and projections by Energy Information Administration showing an inventory drop of two million barrels for the second week of the year.
This development comes as OPEC put Nigeria’s oil production for December at 1.5 million bpd. The output rose by about 100,000 bpd against the figure in November but far below the 2.06 million bpd being expected for the 2025 budget. OPEC projected surge in global oil demand through 2025 and 2026, potentially providing revenue windfalls for oil-dependent economies like Nigeria.
However, the development could also exacerbate domestic challenges, including increased fuel prices and higher energy costs for households and businesses that are struggling with erratic power supply………
Nigeria Plans 2.1 MMbd of Oil Production This Year.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is aiming for an oil production of at least 2.1 million barrels a day (MMbd) for 2025, its chief executive told the senate.
Nigeria currently has 32 rigs, doubled from 2021, NUPRC Chief Executive Engr Gbenga Komolafe said before the Senate Committee on Appropriation when presenting the NUPRC’s achievements since its formation in 2021, according to a press release by the Commission.
On November 14, 2024, Nigerian National Petroleum Co. Ltd. (NNPC) said Nigeria’s hydrocarbon production ramped up to 1.8 MMbd of oil and 7.4 billion cubic feet per day of gas, with the possibility of crude production increasing to two MMbd by the end of 2024. The level grew from 1.43 MMbd last June, according to NNPC. The national oil and Gas Company put online several upstream projects last year……..
Nigeria earned N50tn from crude oil in 2024 –Report.
Nigeria’s crude oil revenue rose to about N50.88tn in 2024, findings by The PUNCH revealed.
Data obtained from the Nigerian Upstream Petroleum Regulatory Commission, an agency of the Federal Government, confirmed that Nigeria produced a total of 408,680,457 barrels of crude oil in 2024.
A January 9, 2025 report by Statista Research Department, a global statistical firm, showed that the average price of crude in 2024 was $80.53 per barrel.
This will amount to $32.91bn if multiplied by the quantity of crude produced in Nigeria last year. At the rate of N1, 546 to a dollar, the amount will be N50.88tn. With condensate, total oil production for 2024 was 566.79 million barrels.
Recall that Nigeria had planned to produce 649.7 million barrels of oil through an average daily output of 1.78 million barrels in its 2024 budget. Putting the crude oil price at $78 and the exchange rate at N750 to a dollar means the country had planned to generate $50.68bn or N38.01tn from oil last year.
6th January- 10th January
OPEC says Nigeria’s crude production hits 4-year high as FG explains actual figure
Nigeria’s oil production has exceeded 1.5 million barrels per day for the first time since 2021.
The figure surpasses its December 2024 quota set by the organization of petroleum export countries (OPEC)
Nigeria’s crude production surpasses OPEC quota. This development shows Nigeria’s resurgence in crude production which is critical for its economy and heavily dependent on oil revenues.
The global oil cartel previously set Nigeria’s production quota at 1.5 million barrels per day, which has now been fully met.
Price of Nigeria’s Crude Oil Grades Rises in international market
Nigeria’s crude oil grades have kicked off 2025 with a collective price increase in the international market. The development is positive for the federal government and the Central Bank of Nigeria, both desperate for dollar earnings.
The Whistler reports that Bonny Light crude oil surged by 4.16%, reaching $78.62 per barrel as of January 8, up from $75.48 per barrel on December 31, 2024. This marks an impressive gain of $3.14 per barrel since the beginning of the year. Bonny Light, officially sourced by the Nigerian National Petroleum Company Ltd. (NNPC), remains a cornerstone of Nigeria’s oil exports……..
9th December – 13th December
Anti-bunkering operations curbing oil theft – Army.
The Nigerian Army has said its anti-bunkering operations in the Niger Delta have significantly curbed oil theft, boosted oil production and contributed to the national economic recovery efforts of the present administration.
The Commander of the 2nd Brigade Nigerian Army, Brig. Gen. Jafaar Ibrahim, stated this on Saturday during the brigade’s combined West African Social Activities, held at the military cantonment, Mbiokporo, in the Nsit-Ibom Local Government Area of the state.
Ibrahim said the brigade’s conduct of various operations had reduced security threats in the state to a minimum and rekindled confidence among residents.
He stated that the brigade’s commitment to making Akwa Ibom peaceful in collaboration with other security agencies remained unwavering. He added that all its operations, including Operation Delta Safe Joint Task Force South-South (Sector 4) and Operation Thunder, had significantly degraded criminal activities in the state……
Nigeria retains top spot as Africa’s biggest oil producer.
The Organisation of the Petroleum Exporting Countries (OPEC) has disclosed that Nigeria retained its position as the largest oil producer in Africa.
OPEC, in its latest monthly report on Wednesday for the month of November, said Nigeria’s oil output increased in November to 1.48 million barrels per day (bpd) from 1.33 million bpd in the previous month.
According to the world oil body, the production figure was Africa’s largest in October as the continent’s most populous country continued to maintain the top spot in the subsequent month. It said its data was based on direct communication while adding that Nigeria’s crude production increased to 1.417 million bpd in November up from 1.4 million bpd in October……
Nigeria’s Oil Production Climbs To 1.7mbpd, Retains Africa’s Top Spot.
Nigeria’s oil production, including condensates, surged to 1.69 million barrels per day (mbpd) in November 2024, marking a 9.9% increase from October’s output of 1.538mbpd.
This is according to the latest report from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The report highlighted a significant 11.42% boost in crude oil production, which rose to 1.48mbpd in November from 1.33mbpd in October. However, condensate production — which is not subject to the Organization of Petroleum Exporting Countries (OPEC) quotas — saw a slight dip, falling to 204,828 bpd from 204,806 bpd in the previous month. Despite this positive trend, Nigeria’s oil production still lags behind its 2024 budget benchmark of 1.78mbpd……..
2nd December – 6th December
Port Harcourt refinery: PENGASSAN debunks shutdown rumors, affirms full operations.
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has affirmed that the Port Harcourt Refinery is fully operational, dispelling rumors about its functionality.
PENGASSAN President, Comrade Festus Osifo, confirmed the refinery’s active status during a National Executive Council (NEC) meeting in Abuja.
He explained that crude oil is processed in the Crude Distillation Unit (CDU) to produce diesel, kerosene, and naphtha, with final adjustments being made to the unit that processes naphtha into Premium Motor Spirit (PMS). To produce PMS in the interim, the refinery blends naphtha with Crack C5 from Indorama, a process consistent with global refining standards.
Osifo highlighted the importance of accountability, especially during the refinery’s Turnaround Maintenance (TAM), where PENGASSAN and NUPENG ensured funds were placed in an escrow account to prevent political interference.
He praised the Nigerian National Petroleum Corporation Limited (NNPCL) for its commitment and called for similar measures to be implemented for the rehabilitation………
Navy targets 2 million barrels daily crude oil production by month-end.
The Nigerian Navy has pledged to boost daily crude oil production from its current 1.8 million barrels to 2 million barrels by the end of the month.
Commodore Cajethan Aniaku, Commander of the Nigerian Navy Ship (NNS) Pathfinder, revealed this during the command’s fourth quarterly route march in Port Harcourt, Rivers State.
Aniaku reaffirmed the Naval High Command’s commitment to combating illegal oil bunkering, protecting offshore oil facilities, and safeguarding critical maritime economic assets.
He expressed confidence that ongoing efforts would achieve the 2 million barrels target before the year’s close.
According to him, the Navy’s ongoing operations have contributed to a recent surge in daily crude oil production, which now stands at 1.8 million barrels per day…..
PH Refinery Will Crash Price Of PMS- Ex NNPC MD Okoye.
The revamping of the Port Harcourt Refinery and Petrochemical and the deregulation of the downstream petroleum sector will crash the price of Premium Motor Spirit (PMS) popularly called petrol, according to the former Managing Director of Nigerian National Petroleum Company Limited Retail, Prof. Billy Okoye.
Okoye expressed uptimism that prices of PMS will sell below the current ex-depot prices of N1030 and N970 per litre.
The former NNPC boss made the disclosure during an event organized by the Petroleum Products Retail Outlet Owners Association (PETROAN).
Okoye’s comment is coming barely one week after the NNPC delivered the PH Refinery. “When the president, Bola Ahmed Tinubu made that announcement, subsidy was gone, what it means is that the market is fully deregulated……..
Fresh fuel price reduction imminent – NNPC ex-MD, Okoye.
The former Managing Director of Nigerian National Petroleum Company Limited Retail, Prof. Billy Okoye, has said the implementation of deregulation in Nigeria’s oil and gas industry will force the newly revived Port Harcourt and Dangote Refineries Premium Motor Spirit (Petrol) ex-depot prices below the current N1030 and N970 per litre.
Okoye disclosed this on Friday in an interview with DAILY POST in Abuja at an event organised by the Petroleum Products Retail Outlet Owners Association, PETROAN.
According to him, President Bola Ahmed Tinubu’s remark on fuel subsidy removal in May 2023 set the tone for full deregulation of the oil industry. He explained that the coming on stream of Dangote and Port Harcourt Refinery had heralded the full implementation of deregulation, where market forces……….
25th November - 29th November
NNPC Ltd Delivers Port Harcourt Refinery…As Plant Begins Truck-out of Products.
The Nigerian National Petroleum Company (NNPC) Ltd. has fulfilled its pledge of re-streaming the Port Harcourt Refining Company (PHRC), signaling the commencement of crude oil processing from the plant and delivery of petroleum products into the market.
On Tuesday, trucks began loading petroleum products which include Premium Motor Spirit (PMS) or petrol, Automotive Gas Oil (AGO) or diesel and Household Kerosene (HHK) or Kerosene, while other product slates will be dispatched as well.
Speaking during a brief ceremony to mark the commencement of products loading at the Refinery on Tuesday in Port Harcourt, the Group CEO, Mr. Mele Kyari described the commencement of the loadout activities as a monumental achievement for Nigeria which signifies a new era of energy independence and economic growth for the country……..
NUPENG Applauds Resuscitation of PH Refinery.
The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), has congratulated the Group Chief Executive Officer, Mr. Mele Kyari and the management of the Nigerian National Petroleum Company Limited (NNPCL) on the successful re-streaming of the Port Harcourt Refinery.
The oil workers union conveyed this in a statement signed by its President, William Akproheha, and General Secretary, Afolabi Olawale.
The statement quoted that the commencement of crude oil processing and the dispatch of petroleum products from the refinery as a landmark achievement that resonates with the aspirations of Nigerian workers and citizens. According to NUPENG: “This milestone achievement demonstrates NNPCL’s unwavering commitment to realising energy independence and fostering sustainable economic growth for our dear nation. The union noted that Kyari’s exemplary commitment and resilience in steering the Port-Harcourt Refinery Company (PHRC) rehabilitation project to completion, despite numerous challenges, reflect the highest standards of dedication and determination……….
Nigeria Records 79 Percent Reduction in Crude Oil Theft, 15 Percent Decline in Revenue – Neiti.
Nigeria recorded 79 per cent reduction in crude oil theft, 15% decline in oil and gas revenue as well as 8% decrease in production volumes between 2022 and 2023 with the reserve-replacement ratio steadily declining, the Nigeria Extractive Industries Transparency Initiative (NEITI) has said.
NEITI stated this Tuesday in Abuja when it launched a research on the impacts of energy transition on Nigeria’s economy. The NEITI Executive Secretary, Dr Orji Ogbonnaya Orji noted at the launch that the progress made by Nigeria against oil theft, pointing out that the NEITI 2023 report showed a reduction of 79% in crude oil losses due to theft.
This, he said, reflects improved resource management. He commended the office of the National Security Adviser, the Nigeria Armed Forces and our security agencies for the drastic approach so far resulting in visible decline in crude theft as disclosed by NEITI’s latest report.
Nigeria’s oil production above OPEC quota – NNPC.
The Nigerian National Petroleum Company Limited and the Nigerian Upstream Petroleum Regulatory Authority say the country’s crude oil production has risen beyond the 1.5 million barrels per day quota allocated to it by the Organization of the Petroleum Exporting Countries.
The Chief Corporate Communications Officer of the NNPC, Olufemi Soneye, disclosed this in a statement on Monday.
Soneye issued that statement to clarify that there was no discrepancy between the NNPC crude oil production figures and those supplied by the Nigerian Upstream Petroleum Regulatory Company.
The company clarified the situation against the backdrop of reports that the 1.54 million barrels per day for September, as cited by the NUPRC, was far below the 1.8mbpd for November, as cited by the NNPC……..
18th- 22nd November
NNPC UNVEILS 40,000bdp Utapate crude to global market, plans to double output by 2025.
The Nigerian National Petroleum Corporation Limited (NNPCL) has introduced its latest crude oil grade, the Utapate crude oil blend, to the international market.
In a statement issued on Wednesday in Abuja, the chief Corporate Communications Officer, Olufemi Soneye, announced that the new product was showcased before a large gathering of European crude oil marketers at the Argus European Crude Conference in London, England. Soneye disclosed that NNPCL intends to double production from the Utapate grade by the end of 2025, increasing output from the current ……….
Petroleum minister lauds crude NNPCL for boosting production.
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, on Wednesday, said Nigeria’s quest to boost crude oil production is making significant strides, as the Abigail Joseph Floating Production Storage and Offloading facility, operated by the NNPCL-First E&P Joint Venture on OML 83/85, ramps up output.
A statement on Wednesday by the Special Assistant on Media and Communication to the Minister, Nneamaka Okafor, stated that Lokpobiri made this known during an inspection offshore Bayelsa State.
The statement noted that the minister applauded the facility’s progress and its ambitious production goals.
The minister explained that currently producing 60,000 barrels per day (bpd), the FPSO is on track to achieve 70,000 bpd in the near term, with plans to scale up to 100,000 bpd….
NNPCL Commences Sale Of Utapate Crude To International Market.
The Nigerian National Petroleum Corporation Limited (NNPCL) has announced the official unveiling of its latest crude oil grade, the Utapate crude oil blend, before the international crude oil market.
The development is a major boost for Nigeria’s crude oil production, revenue generation and economic growth efforts, according to the NNPCL.
In a statement signed by its Chief Corporate Communications Officer, Olufemi Soneye, on Wednesday in Abuja, the NNPCL stated that the new product was unveiled before a packed audience of European crude oil marketers at the ongoing Argus European Crude Conference taking place in London, England.
It would be recalled that in July 2024, NNPC Ltd. and its partner, the Sterling Oil Exploration & Energy Production Company (SEEPCO) Ltd. introduced the Utapate crude oil blend, following the lifting of the first cargo of 950,000 barrels which headed for Spain……..
11th November-15th November.
OPEC Disputes Nigerian Government’s Oil Output Figures, Reports 1.434 Million Barrels Per Day In October
The Organization of Petroleum Exporting Countries (OPEC) has reported Nigeria’s crude oil output, excluding condensates, as 1.434 million barrels per day (bpd) for October 2024, lower than the Nigerian Federal Government’s figure of 1.8 million bpd for the same period.
In its Monthly Oil Market Report (MOMR) released in November, OPEC clarified that its figures were based on secondary data sources. The discrepancy between OPEC’s report and Nigeria’s official figures includes an estimate of 250,000 bpd for condensates, a lighter type of oil often added to crude output totals.
When condensates are removed, the Nigerian government’s own estimate for October crude oil production would stand at around 1.55 million bpd, still exceeding OPEC’s figure by 226,000 bpd……………
NNPC, Dangote sign 10-year gas supply deal to boost domestic production
The NNPC Gas Marketing Limited (NGML), a subsidiary of the Nigerian National Petroleum Company (NNPC) Limited, has executed a Gas Sale and Purchase Agreement (GSPA) with Dangote Petroleum Refinery and Petrochemicals FZE, marking a substantial step towards bolstering Nigeria’s industrial capabilities.
According to a statement on Wednesday by the Chief Corporate Communications Officer of NNPC, Olufemi Soneye, the deal was agreed upon at Dangote Group’s corporate headquarters in Falomo, Lagos.
Signed by the Managing Director, NGML, Justin Ezeala and the President/CEO of the Dangote Group, Aliko Dangote, it outlines the supply of natural gas for power generation and feedstock at the Dangote Refinery, in Ibeju-Lekki, Lagos State.
The statement said the agreement outlines the supply of 100 million standard cubic feet per day (MMSCF/D) of natural gas to support power generation and serve as feedstock for the refinery………….
11th November-15th November.
Nigeria signs $1.2bn deal to revamp gas plant for aluminium smelter.
Nigeria has signed a $1.2bn (R21.67bn) contract with Chinese state-owned engineering firm CNCEC to revamp a gas processing plant crucial for the country’s aluminium production, its petroleum ministry said.
The contract signed between CNCEC and BFI Group — the core investor in the Aluminium Smelter Company of Nigeria — is the first step towards reviving the dormant smelter which has been plagued by years of inactivity due to legal disputes and financial issues. The ministry said late on Monday the deal would see CNCEC resuscitate the 135-million standard cubic feet per day gas processing plant at the dormant smelter, which can produce about 300,000 tonnes of aluminium annually.
Minister of state for gas Epkerikpe Ekpo said the plant’s restart would allow Nigeria to develop multiple stages of the aluminium production process and position it “as a major producer of aluminium in Africa and globally”…….
NNPC To Boost CNG Adoption, Plans 12 Additional Stations.
The Nigerian National Petroleum Company (NNPC) Limited has revealed plans to enhance the adoption of Compressed Natural Gas (CNG) by establishing 12 additional CNG stations across Nigeria by the first quarter of 2025.
NNPC also emphasised that it was not involved in any sabotage plot against domestic refineries, reaffirming its commitment to supporting local energy solutions and investments in cleaner energy sources.
Group chief executive officer of NNPC, Mele Kyari, who made this known on Monday, also reiterated the oil company’s commitment to resolving Nigeria’s energy ‘trilemma’, by ensuring energy security, sustainable growth and energy affordability.
Kyari disclosed this at the opening ceremony of the 42nd Nigeria Association of Petroleum Explorationists (NAPE) Annual International Conference and Exhibition themed: “Resolving the Nigeria Energy Trilemm…….
4th November- 8th November.
Why Nigeria struggles to fund domestic gas projects — NNPCL.
The Niger Delta, known for its oil-rich resources and vibrant ecological systems, has borne the brunt of Nigeria’s oil wealth for decades. From devastated rivers to toxic soil and polluted air, the consequences of unchecked oil exploration are stark. The latest International Conference on Petroleum Pollution and Just Transition in the Niger Delta, held on October 30, 2024, in Abuja, brought together government representatives, environmentalists, community leaders, and international observers. This gathering provided a forum for Nigeria’s Federal Government, in collaboration with the Bayelsa State Government, to reaffirm its commitment to address the longstanding issues of oil spills and gas flaring.
Themed “Advancing the Recommendations of the Bayelsa State Oil and Environmental Commission (BSOEC),” the conference echoed urgent calls to rectify the environmental damage plaguing the Niger Delta. Despite renewed promises, many stakeholders, including Niger Delta residents, remain cautiously optimistic, reflecting on decades of pledges yet to yield concrete results…….
Nigeria’s gas infrastructure insufficient to meet national demand –NMDPRA.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has expressed deep concerns over the inadequate coverage of the nation’s gas pipeline network, urging an immediate reassessment of the situation due to its troubling implications for energy security.
Executive Director of the Midstream and Downstream Gas Infrastructure Fund (MDGIF) at NMDPRA, Mr. Oluwole Adama, disclosed this at the OTL Africa Summit Week held in Lagos last week.
Adama further lamented that the current gas pipeline network covers less than 10 percent of what is required to meet national demand.
He, however, pointed out that this huge deficit underscores the urgency for accelerated gas infrastructure development. The MDGIF boss emphasized that a comprehensive and efficient gas network is essential for a sustainable energy transition, urging the private sector to take bold steps to advance gas infrastructure and solidify Nigeria’s energy future.
Adama further encouraged the private sector to ramp up investments in Nigeria’s gas sector, highlighting its potential as a key driver for the nation’s energy needs. “Our gas infrastructure will remain crucial for at least 20 to 30 years in meeting Nigeria’s energy needs,” Adama stated, calling on stakeholders to invest more and lead the expansion process. He recommended the critical
Why Nigeria struggles to fund domestic gas projects — NNPCL.
The Niger Delta, known for its oil-rich resources and vibrant ecological systems, has borne the brunt of Nigeria’s oil wealth for decades. From devastated rivers to toxic soil and polluted air, the consequences of unchecked oil exploration are stark. The latest International Conference on Petroleum Pollution and Just Transition in the Niger Delta, held on October 30, 2024, in Abuja, brought together government representatives, environmentalists, community leaders, and international observers. This gathering provided a forum for Nigeria’s Federal Government, in collaboration with the Bayelsa State Government, to reaffirm its commitment to address the longstanding issues of oil spills and gas flaring.
Themed “Advancing the Recommendations of the Bayelsa State Oil and Environmental Commission (BSOEC),” the conference echoed urgent calls to rectify the environmental damage plaguing the Niger Delta. Despite renewed promises, many stakeholders, including Niger Delta residents, remain cautiously optimistic, reflecting on decades of pledges yet to yield concrete results…….
Why Nigeria struggles to fund domestic gas projects — NNPCL.
The Executive Vice President of Upstream at the Nigerian National Petroleum Company Limited (NNPCL), Oritsemeyiwa Eyesan, has explained why Nigeria is grappling with significant challenges regarding the funding needed to develop its local gas projects.
Oritsemeyiwa highlighted these issues during the fortieth anniversary of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC). Despite possessing over 200 trillion cubic feet of proven gas resources, Nigeria continues to face obstacles in harnessing its potential, particularly as it aims to utilize compressed natural gas as a transition fuel. Eyesan pointed out that, although initiatives like the decade of gas have been launched, Nigeria must still navigate the complexities of these intertwined challenges.
However, she reaffirmed Nigeria’s commitment to the Oil and Gas Climate Initiative (OGCI), which unites twelve of the largest oil and gas…………….
28th October - 1st November
Nigeria’s Crude Oil Price Drops By 7%.
Nigeria’s crude oil fell to $72 per barrel yesterday, down from $75 per barrel, representing an 8.2 percent decline compared to the $77.96 per barrel benchmark set in Nigeria’s 2024 budget.
Reports show that the prices of Bonny Light and other crude oils have decreased significantly due to Israel’s restrained response to Iran’s missile attack, which had initially raised fears of substantial disruptions to oil supply and pricing. Earlier, the Organisation of Petroleum Exporting Countries (OPEC) reported that Nigeria’s oil production, excluding condensate, decreased to 1.324 million barrels per day (bpd) in September 2024, down from 1.352 million bpd in August 2024, marking a 2 percent reduction.
In a similar vein, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) noted that Nigeria’s total oil output, including condensate, fell to 1.544 million bpd in September 2024, a decline from 1.570 million bpd in August 2024, indicating a month-on-month decrease of 1.7 percent…….
FG unveils plan to boost oil production by 1m/bpd in 24 months
The Federal Government has revealed an ambitious plan to increase Nigeria’s crude oil production by one million barrels per day within the next 12 to 24 months. This strategy aims to tackle key challenges in the sector, such as oil theft, pipeline vandalism, outdated infrastructure, and attracting investment.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reported a dip in production from 1.571 million barrels per day in August to 1.544 million in September, representing a 1.68% decline. Despite this, the government’s new initiative promises to drive production back up through a series of targeted interventions.
Speaking at the launch of “Project 1MMBPD” to mark NUPRC’s three-year anniversary, President Bola Ahmed Tinubu, represented by the Secretary to the Government of the Federation……….
Nigeria’s Crude Oil Output Low, Inadequate To Meet Energy Needs – IPPG
The current crude oil production of about 1.4 million barrels per day remains very low and hugely inadequate to meet Nigeria’s energy requirements and socio-economic goals,theIndependent Petroleum Producers Group (IPPG), has said.
Its chairman,Abdulrazaq Isa,said this in a goodwill message at the third anniversary of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). He advocated the need to reposition the nation’s upstream sector, adding that IPPG will continue to strongly press for steps aimed at arresting the dwindling production. He reiterated call for urgent actions aimed at unlocking incremental production growth in the short to medium term,even as he recommended the unblocking all hurdles to Final Investment Decisions (FID) on IOC deepwater projects. “Enhancing security across the Niger Delta for a conducive operating environment and stemming incidences of asset vandalism and unrest……….
FG invests over $75 million in CNG projects across Nigeria – Olu Verheijen
The Federal Government has committed over $75 million towards the development of Compressed Natural Gas (CNG) infrastructure as part of efforts to promote cleaner energy across the country.
Mrs. Olu Verheijen, the Special Adviser to President Bola Tinubu on Energy, disclosed this at the ongoing 18th OTL Africa Downstream Energy Week in Lagos on Monday, according to a report by News Agency of Nigeria (NAN).
Verheijen, represented by her Technical Adviser on Energy, Mrs. Eriye Onagoruwa, stated that the investment aligns with the government’s goal to advance sustainable energy and cut carbon emissions Highlighting the sector’s growth potential, she noted, “Despite having an oil and gas industry that has been operational for over 80 years, Nigeria has only tapped into 4% of its resources since 2016.”
“The government aims to foster transparency and efficiency by introducing incentives that encourage investment in CNG, liquefied natural gas (LNG), and electric vehicle technologies…………..
21st -25th October
FG unveils plan to boost oil production by 1m/bpd in 24 months
The Federal Government has revealed an ambitious plan to increase Nigeria’s crude oil production by one million barrels per day within the next 12 to 24 months.
This strategy aims to tackle key challenges in the sector, such as oil theft, pipeline vandalism, outdated infrastructure, and attracting investment.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reported a dip in production from 1.571 million barrels per day in August to 1.544 million in September, representing a 1.68% decline. Despite this, the government’s new initiative promises to drive production back up through a series of targeted interventions.
Speaking at the launch of “Project 1MMBPD” to mark NUPRC’s three-year anniversary, President Bola Ahmed Tinubu, represented by the Secretary to the Government of the Federation, Senator George Akume, emphasized that increasing oil production is key to boosting national revenue and accelerating economic development…….
NNPC trains over 1,000 car mechanics on conversion of vehicles to CNG across Nigeria
The Nigerian National Petroleum Corporation Retail Limited, a subsidiary of NNPC, has trained over 1,000 mechanics on the technical aspects of converting vehicles to Compressed Natural Gas (CNG) across Nigeria.
This way disclosed in a statement issued on Saturday by NNPC spokesperson Olufemi Soneye, through the company’s official X handle.
Soneye explained that the training included practical demonstrations of the vehicle conversion process, equipping the mechanics with hands-on experience in transitioning vehicles from gasoline to CNG……
NNPCL partners A4E Energy to build 100mmscf/d gas distribution facility in Ajaokuta
NNPC Gas Marketing Limited (NGML) and A4E Energy have signed an agreement to construct a 100 million standard cubic feet per day (MMSCF/D) natural gas distribution facility in Ajaokuta, Kogi State.
In a statement on NNPCL’S website, the company stated that the gas city-gate will supply natural gas to domestic LNG plants, compressed natural gas (CNG) facilities, and other industries in the Ajaokuta area that requires gas.
The NGML further explained that as part of the collaboration, it also signed a 10-year Gas Sales and Purchase Agreement (GSPA) to supply 5 MMSCF/D of natural gas to A4E’s Energy CNG compression facility and dispensing operation…..
Nigeria’s Offshore Oil, Gas Production Industry Projected to Hit $47bn by 2031.
The value of Nigeria’s offshore oil and gas production market will grow from the $34.18 billion in 2023 to $47.03 billion by 2031, a new market research has found.
In addition, the Compound and Annual Growth Rate (CAGR) will grow by 4.1 per cent within the period spanning to 2031, the report by Research and Markets indicated.
Headquartered in Dublin, Ireland, Research and Markets was founded in 2002 to connect businesses with the market insights and analysis to enable intelligent decision-making, priding itself as the world’s largest market research store with clients all over the world.
Snippets of the 76-page report: “Nigeria Offshore Oil and Gas Production Market Size and Forecast, Regional Share, Trend, and Growth Opportunity Analysis Report Coverage”, noted that Nigeria’s production of 552.84 million barrels of crude oil, including condensate in 2023 alone, reaffirmed the country’s critical role in shaping the energy landscape.
“The Nigeria offshore oil and gas production market continues to thrive, with an impressive valuation of $34.18 billion in 2023. As Africa’s premier crude oil producer, Nigeria is expected to see its market………
14th- 18th October
Oil companies blame host communities for crude oil theft, pipeline vandalism
Oil companies operating in the Niger Delta region, including Aieto and Nigerian Agip (now Oando), have pointed fingers at host communities for the persistent crude oil theft and pipeline vandalism. They’ve urged the House of Representatives to intervene and address these issues ¹.
During an investigative hearing on oil theft and pipeline vandalism, the companies acknowledged the negative impact of their operations on the environment. Oando’s Team Lead, Philip Akuduro, attributed a significant percentage of oil spillage to host community activities, affecting the environment and local residents.
Aieto’s Chief Operating Officer, Ewarezi Useh, echoed similar concerns, citing clashes of interest as a major reason for the drastic decline in production to 700,000 barrels per day in 2018. This highlights the complexities surrounding oil exploration and production in the region………
Nigeria’s oil exploration declined by 6.7% due to limited investment – OPEC
A report by Organization of Petroleum Exporting Countries (OPEC) has indicated that crude oil exploration in Nigeria dropped year-on-year by 6.7 percent in September 2024, due to limited investment in the upstream sector of the Nigeria’s petroleum industry.
OPEC gave the indication in its the October 2024 Monthly Oil Market Report released on Tuesday.
According to it, on year-on-year, YoY basis, the nation’s oil exploration decreased by 6.7 per cent in September 2024, as the rigs dropped for exploration fell to 14, from 15 recorded in the corresponding period of 2023.
But on month-on-month, MoM basis, the nation’s oil exploration remained flat as the number of rigs deployed remained flat at 14 in September 2024, same as recorded in the preceding month of August 2024……..
NLNG’s Domestic LPG Supply Hits 3m Metric Tons in 17 Years as FG Targets 5m MT
The Nigeria Liquefied Natural Gas Limited (NLNG) has revealed that it supplied a total of 3 million metric tons of Liquefied Petroleum Gas (LPG) commonly known as cooling gas into the domestic market between 2007 when it set up the Domestic LPG Scheme (DLPG) and 2024.
Managing Director of NLNG, Dr Philip Mshelbila disclosed in Lagos at the 2024 annual conference of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), with the theme, “Sustainable Energy Growth in Nigeria – LPG and the Future.”
Represented by the company’s Manager, Marketing and Business Development, Mr. Ahmed Joda, he said the liquefaction company had been committed to ensuring that LPG serves the need of the Nigerian consumers.
He added that the operator of the six-trained Bonny Island-based plant had been fully committed to the domestic market in achieving its supply goal from over 50,000MT in 2007 to about 450,000MT in 2024……..
7th October- 11th October
50 CNG stations servicing 200 million Nigerians – NMDPRA
The Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, says Nigeria has less than 50 Compressed Natural Gas compression stations to feed 200 million Nigerians.
This is despite efforts of the Federal Government, through the Presidential Compressed Natural Gas Initiative to give Nigerians access to CNG as a replacement to the pricey fossil fuels like petrol and diesel.
Ahmed stated this in his speech at the conference of the Nigeria Association of Energy Correspondents in Lagos.
Touching on energy security, which is crucial for Nigeria’s economic growth, Ahmed maintained that despite having a huge gas utilization deficit, “we still flare about 2.5 billion cubic feet of gas daily”…………
Nigeria’s Low Oil Production Threatens Local Refiners, Export Earnings
With oil production around 1.34 million barrels per day, Nigeria is facing major economic and energy security risk, according to stakeholders in the oil and gas industry.
The danger under the present circumstance, according to them, is that the country would rather keep the tempo of exporting raw crude to earn foreign exchange at the expense sustaining socio-economic stability as the recurring crises in the downstream sector would remain unresolved
At the inaugural Crude Oil Refinery-Owners Association of Nigeria (CORAN), Summit in Lagos on Tuesday, both crude oil producers and Refinery operators agreed that the push by government to turn Nigeria into a refining hub and network exporter of refined petroleum products may be a mirage except drastic measures are taken to shore up production…….
Nigeria’s first $5b FLNG project to reduce gas flaring, boost domestic LPG.
Group Managing Director/Chief Executive Officer UTM Offshore Limited, Julius Rone, has said the completion of Nigeria’s first $5 billion Floating Liquefied Natural Gas (FLNG) project will significantly reduce gas flaring while boosting the domestic supply of Liquefied Petroleum Gas (LPG). He stressed that the project would address the country’s energy demand, which requires over two million tonnes of LPG for domestic consumption.
Rone mentioned that the impact would go beyond Nigeria, as an off-taker is discussing the possibility of taking LNG to South Africa…………..
New project to inject $3b into gas sector
Minister of State, Petroleum Resources (Gas), Ekperikpe Ekpo, has said the Brass Methanol Project’s Gas Sales Purchase Agreement will inject $3 billion into Nigeria’s gas sector. He also assured that the Federal Government’s efforts in ensuring the prompt circulation of compressed natural gas (CNG) is a well-intended initiative for a more affordable fuel option. CNG Stations have been deployed across the country through the Nigerian National Petroleum Company Limited (NNPCL) for a transition to cleaner energy.
Ekpo made this known while delivering a Ministerial address at the 2024 NAEC Annual Strategic International Conference, organized by the Association of Energy Correspondents of Nigeria (NAEC) at Eko hotel, Victoria Island, Lagos.
The minister, who was represented by his Senior Technical Adviser…………….
NCMB: IOCs will come back to invest in Nigeria
The Nigerian Content Development and Monitoring Board (NCDMB), has said efforts were being made to bring the International Oil Companies (IOCs) back to Nigeria to continue their operations.
The Executive Secretary, Engr. Felix Omatsola Ogbe who spoke during the Executive Secretary 2024 Breakfast Meeting in Lagos, with the theme: “The Role of the Media in Sustaining Nigerian Content Development”, said the board also intends to increase the initiative to make sure that the second time construction activities in the oil and gas industry, according to the President’s directive, was within the six months as directed.
“At the same time, again, we’re going to go into dealing with the communities, trying to grow capacity with the community contractors so that the impact of the community on oil and gas operations is minimized to the barest minimum as soon as possible,” he said………….