NNPC

Nigeria: “Over 41bn barrels crude, 319tcf gas untapped” – NNPC boss

Posted on March 18, 2019March 18, 2019 by Mozambique Resources Post

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has stated that more than 41billion barrels of crude oil and 319trillion cubic feet of gas are yet to be discovered in Sub-Saharan Africa.

Africa Oil & Gas: Nigeria incurs huge losses over stalled $30bn LNG projects

Posted on March 1, 2019March 1, 2019 by Mozambique Resources Post

More than two years after the Nigerian National Petroleum Corporation reiterated its commitment to two Liquefied Natural Gas projects in the country, there is still uncertainty over whether the multibillion-dollar projects will come on stream.

Africa Oil & Gas: Nigeria hits oil majors with billions in back taxes

Posted on February 22, 2019February 22, 2019 by Mozambique Resources Post

Nigeria has ordered foreign oil and gas companies to pay nearly $20-billion in taxes it says are owed to local states, industry and government sources said, in a move that could deter investment in Africa’s largest economy.

Africa Oil & Gas: Privatise Nigeria’s oil industry? Easier said than done

Posted on January 22, 2019January 22, 2019 by Mozambique Resources Post

A leading contender in Nigeria’s presidential election next month has pledged to privatise the country’s oil industry, but that’s a promise that might prove hard to keep, some observers say quoted by AFP. Atiku Abubakar, the main opposition party contender, has vowed to break up the Nigerian National Petroleum Company (NNPC), which he called a “mafia organisation”. The NNPC and other state-run organisations have been widely criticised as becoming slush funds for successive governments, particularly…

Africa Oil & Gas: Nigeria Oil Minister Says Oil Refinery Revival Pushed Back

Posted on November 8, 2018 by Mozambique Resources Post

(Bloomberg) — The revival of Nigeria’s state-owned refineries will happen a year later than expected after financing talks dragged on, according to the nation’s oil minister.

Africa Oil & Gas: Nigeria’s NNPC Could Ink Oil Swap Deals With Two More Supermajors

Posted on November 6, 2018 by Mozambique Resources Post

Nigeria’s state oil company is mulling over the signing of two more oil swap deals, with Exxon and Shell, after last week it sealed an oil-for-products deal with BP, Reuters reports, quoting NNPC’s chief operating officer for upstream, Bello Rabiu.

Africa Oil & Gas: Nigeria’s NNPC signs crude-for-product swap deal with BP

Posted on November 2, 2018 by Mozambique Resources Post

Nigeria’s state oil firm NNPC said it had signed a crude-for-product swap deal with oil major BP.

Africa Oil & Gas: Nigeria State oil company denies existence of $3.5bn fuel subsidy fund

Posted on October 18, 2018 by Mozambique Resources Post

Nigeria’s State oil company on Wednesday denied parliament’s accusation that it had a $3.5-billion fund to surreptitiously subsidize imports of gasoline, according to Reuters news agency.

Africa Oil & Gas: Nigerian Senate to Probe $3.5 Billion Spent by State Oil Firm

Posted on October 17, 2018 by Mozambique Resources Post

(Bloomberg) — Lawmakers in Nigeria will investigate $3.5 billion allegedly spent by the state oil firm on gasoline subsidies and expressed concern that the sum was not included in the national budget.

Africa Oil & Gas: Oil Pipeline Fire in Nigeria Kills 60

Posted on October 16, 2018 by Mozambique Resources Post

A fire that broke out on an oil pipeline in Abuja, Nigeria last week has seen its death toll rise to 60, Reuters reported Oct. 15.

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