The Nigerian National Petroleum Company (NNPC) Limited has announced the signing of an agreement with African Refinery for a share subscription agreement with Port-Harcourt Refinery. According to the state-owned oil company, the agreement will see the co-location of a 100,000 barrels per day (bpd) refinery within the Port-Harcourt Refinery complex. This was made known in […]Read More

Dangote Petroleum Refinery has further reduced the prices of Automotive Gas Oil, popularly known as diesel, to N940 per litre, making it the third time the company has reduced the prices of the commodity. The refinery also reduced the prices of aviation fuel to N980 per litre.  This is coming in the wake of its […]Read More

The Nigerian National Petroleum Company (NNPC) Limited and Newcross Exploration and Production Ltd, its Joint Venture partner in the Awoba Unit Field, have targeted ramping up Awoba Unit Field to 12,000 barrels per day (bpd) in May. In a release signed by Olufemi O. Soneye, Chief Corporate Communications Officer of the NNPC Ltd., the state-owned […]Read More

Shares of Portuguese energy firm Galp Energia surged over 20 percent in early trading on Monday following news of a significant oil discovery in offshore Namibia. Galp announced that initial exploration in the Mopane field suggests it could hold at least 10 billion barrels of oil. Testing at the Mopane-1X and Mopane-2X wells revealed “significant […]Read More

The Nigerian National Petroleum Company Limited (NNPC Ltd) and its Joint Venture partner, First Exploration and Petroleum Development Company Limited (First E&P), have started oil production from OML 85, also known as Madu Field. The field, situated in shallow waters offshore Bayelsa State and operated by First E&P, is anticipated to produce an average of […]Read More

Heineken Lokpobiri, the Minister of State for Petroleum Resources, has said that the federal government is on the verge of approving the acquisition of Mobil Producing Nigeria Unlimited (MPNU) assets by Seplat Energy. He said on Tuesday that President Bola Tinubu is committed to the closure of the acquisition at the Facts Behind the Figures […]Read More