…Nigeria to cut targeted production by 313,000bpd Oil prices rose on Wednesday to their highest since February 2020 after Saudi Arabia agreed to reduce output more than expected in a meeting with allied producers, while industry figures showed U.S. crude stockpiles were down last week. Brent crude rose as much […]
Tag: NNPC. OPEC.
NNPC Committed to Bringing Down Cost of Production, Remaining Competitive
The Nigerian National Petroleum Corporation (NNPC) has, for the umpteenth time, pledged its commitment to bringing down the unit cost of oil production in the country to $10 per barrel, so as to remain competitive in the Industry and deliver value to all Nigerians. A statement from the Group General […]
Techno Oil Unveils Automated LPG Terminal In Nigeria
…As Nigeria’s LPG Storage Capacity Hits 69,900mt In the latest development, Nigeria’s total storage capacity for liquefied petroleum gas (LPG), has increased to 69,900 MT, as Techno Oil Limited unveiled its new automated LPG terminal at Kirikiri in Apapa, Lagos recently. Prior to Techno Oil’s addition of its 8,400 MT […]
FG spends over N780bn as ‘under-recovery’ in 12 months
Federal Government has spent over N780 billion as ‘under-recovery’ between January and December 2019, surpassing the N305 billion provision for under-recovery in the 2019 budget, according to investigation by Saturday Tribune. It is noteworthy to state that the Nigerian National Petroleum Corporation (NNPC) had stated that only the National Assembly […]