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How Africa’s Giants Fight Oil Theft

https://burneft.ru/main/news/34193 Exactly how much oil is lost as a result of thefts and failures due to vandalism on pipelines is unknown. The Nigerian Extractive Industries Transparency Initiative (NEITI) has estimated them at $ 11 million per day, or about $ 349 per month. At the same time, according to government ...

Key Takeaways from the Citizens Dialogue Session on Government Fiscal Policy Decisions in Response to the Fall in Oil Prices and the COVID-19 Pandemic

The Ministry of Finance, Budget and National Planning and the Department for Internal Development (DFID) held a citizen’s dialogue session (earlier today) on Nigeria’s response to the fall in oil prices and the COVID-19 pandemic. The panel was led by the Minister for Finance, Budget and National Planning, Mrs. Zainab ...

Industry Update 2019

  • NNPC and Mobil Producing Nigeria commemorated the close-out ceremony to mark the conclusion of @NNPCgroup /MPN Cash Call Repayment Agreement. The Corporation has ...

Industry Update 15th September 2018

Government to improve infrastructural facilities in the Niger Delta There have been argument about the oil companies relocating their headquarters to the Niger Delta which is the production site in the oil and gas industry of Nigeria. Although the communities are pushing for this, but the fact remains that the ...

Industry Update: 31st August 2018

Total's Egina FPSO to commence Operation It has a floating and storage capacity of 200,000bpd. The fabrication and integration works are complete and the FPSO arrived at Oil Mining Lease (OML) 130, the offshore field of Total Nigeria in the last week of August 2018. The FPSO cost $3.3bn and ...

Industry Update: 17th August 2018

Dangote Refineries to boost foreign reserves The 650,000 bpd production capacity would aid Nigeria with about $7.5 billion dollars forex savings on importation when it becomes operational. Nigeria currently imports large amount of its petroleum products due to the inability of the country’s refineries to utilise their full capacity. reports ...

Industry Update: 3rd August 2018

JV Debt Repayment Restoring Investors’ Confidence in Nigeria The loan repayment of $5m is part of the measures taken by Nigeria to restore investors’ confidence in the oil industry. However, NNPC confirms that the country is also looking inwards to rising domestic demands for oil as its biggest business opportunity ...

Industry Update: 17th June 2018

DPR accuses NNPC of violating Nigeria laws NNPC remitting lump sums into the federation account and not separate royalty from licenses of oil well and block and PPT from other revenues makes it difficult for the government to determine whether it was making profit or not with its investments. DPR ...

Industry Update: 1st June 2018

NNPC commence repayment of cash call to IOC's NNPC reveal it has been consistence with the repayment of $5.1bn as planned, Although the corporation did not disclose the exact amount paid so far but maintained it has kept to the terms of repayment. The present government met a deficit cash ...
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