NLNG clarifies non-payment of $11.6b dividends

The management of the Nigeria LNG Limited (NLNG) has clarified issues relating to the non-remittance of about $11.6 billion (N2.32 trillion) to the Federation...

NNPC officials, oil traders allegedly interrogated and investigated over crude oil swap arrangement

A major investigation is underway in the oil and gas sector as the Economic and Financial Crimes Commission (EFCC) and The Department of State...

‘Nigeria lost 773,100bpd of crude oil in May’ – NNPC report

The Nigerian oil industry lost 773,100 barrels per day to production shut-in due to product theft and pipeline vandalism in the month of May,...

Nigerian crude oil differentials face pressure from rising Libya flows

Nigerian crude oil differentials were seen at risk of falling further on Wednesday, after slipping below dated Brent plus $2 a barrel this week, on signs that...

Glencore Energy UK Limited to receive first crude sale from Aje field

Panoro Energy has announced the second quarter 2016 financial results and provides the following updates: First oil production at Aje, offshore Nigeria commenced in...

U.S. import of Nigeria’s crude rises to 12.1mb in February

The United States of America’s crude oil import from Nigeria has increased from the 8.5 million barrels it recorded in January to 12.1 million...

Power supply drops by 400MW as Shell’s Afam VI is shut down

Nationwide electricity supply is expected to drop by 400 megawatts (MW) as the 650MW capacity Shell Petroleum Development Company’s (SPDC) Afam VI power 400MW...

Growing domestic energy demand cuts oil available for export

The rapidly increasing Nigeria’s domestic energy demand combined with an inability to boost output is cutting into the OPEC member’s crude oil that is...

‘Only 10% of gas deposits used for generation’ – Oando Gas boss

The Managing Director of Oando Gas and Power, Mr. Bolaji Osunsanya has said that only 10 percent of gas deposits are used for power...

Nigerian exports slumped 40% in 2015 as oil prices plunged

The national bureau of statistics (NBS) has said that Nigerian exports slumped 40.3 percent last year after a fall in crude prices slashed government...

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