The Export-Import Bank (AfreximBank) has signed a $US1.04 billion facility with the Nigerian National Petroleum Corporation (NNPC) to finance the exploration of petroleum. The agreement was concluded on Tuesday in Durban during the second Intra-Africa Trade Fair (IATF2021), which opened on Nov.15 and runs until Nov. 21, 2021, a...
oil and gas
The Federal Government has said it is implementing measures to address insecurity and crude theft affecting oil production in the country. Mr Gbenga Komolafe, Chief Executive Officer, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), said this at the Nigerian Association of Petroleum Explorationists (NAPE) 2021 conference on Tuesday in Lagos....
Aiteo Eastern Exploration and Production Company (AEEPCO), operator of Oil Mining Lease (OML 29) has said the volume of oil leakage from its operations in Bayelsa was yet to be determined. The management of AEEPCO in a statement issued on Wednesday by its spokesperson, Mr Mathew Ndianabasi, confirmed that...
As part of efforts to ensure that the autogas conversion of vehicles yielded the desired results, the Federal Government says it has set aside N250 billion for willing investors in autogas assembly plants in the country. The Minister of State for Petroleum Resources, Mr Timipre Sylva, disclosed this on...
By JOY ADARA, Abuja – The Nigeria National Petroleum Corporation (NNPC) Limited has urged the public not to engage in panic buying of Premium Motor Spirit, more commonly known as petrol. The Group General Manager, Public Affairs Division, Garba Deen Muhammad, who stated this in a statement on Monday,...
The Nigerian National Petroleum Company Limited (NNPC) started the week with the commendation of stakeholders in the nation’s political and industrial sectors on the successful activation of the Petroleum Industry Act (PIA 2021). It would be recalled that the Act was signed into law by President Muhammadu Buhari on...