Nigerian National Petroleum Company Limited

Nigeria’s crude oil production rose in February, data from the Organisation of Petroleum Exporting Countries (OPEC) has shown. Oil production from the 12 members of the organisation, OPEC, averaged 26.57 million barrels per day (mb/d) in February 2024, higher by 203 thousand barrels per day (tb/d) month-on-month, OPEC said in its Monthly Oil Market Report released Tuesday. “According to secondary sources, total OPEC-12 crude oil production averaged 26.57 mb/d in February 2024, 203 tb/d higher, month-on-month.…

Nigeria’s crude oil production dropped in January, data from the Organisation of Petroleum Exporting Countries (OPEC) has shown. Oil production from the 12 members of the organisation averaged 26.34 mb/d in January 2024, lower by 350,000 barrels per day (tb/d), month-on-month, OPEC said in its Monthly Oil Market Report released Tuesday. The report also noted that crude oil output increased mainly in the UAE, Saudi Arabia and Venezuela, while production in Libya, Kuwait, Iraq and Algeria decreased. Nigeria’s crude…

The Nigerian National Petroleum Company Limited (NNPC Ltd) on Tuesday said it has held talks with a South Korean consortium led by Daewoo E & C on the development of gas projects in Nigeria. Olufemi Soneye, the chief corporate communications officer of NNPC Ltd, made this known in a statement on Tuesday. The statement said the discussions held in Seoul, South Korea, on Monday, were aimed at deepening NNPC Ltd’s drive to tap into the nation’s vast gas resources to be a supplier of clean and affordable energy…

The Nigerian National Petroleum Company Limited (NNPC) says it is seeking private companies for the operation and maintenance of its Port Harcourt refinery in Rivers State. The NNPC disclosed this on Monday in a post on X. The Nigerian government, in 2023, resumed rehabilitation of three of its four refineries – Warri, Kaduna and Port Harcourt refineries. The country’s Minister of State for Petroleum, Heineken Lokpobiri, would later raise the hopes of many Nigerians when he said the Port Harcourt Refinery would…

African Export-Import Bank (Afreximbank) said it has successfully arranged a syndicated $3.3 billion crude oil prepayment facility sponsored by the Nigerian National Petroleum Company Limited (NNPC Ltd). The bank in a statement posted on its website said an initial disbursement of $2.25 billion has been made. NNPC Ltd and Afreximbank had in August last year signed a commitment letter and term sheet for an emergency crude oil repayment loan. The facility will provide some immediate disbursement that will enable…