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The Nigerian National Petroleum Company (NNPC) Limited is a state-owned oil company in Nigeria. Still a fully-owned government company, it was transformed from a corporation into a limited liability company in July 2022. [1] NNPC Limited is the only entity licensed to operate in the country's petroleum industry.
The Senate of Nigeria held a moment of silence. Vice President Kashim Shettima requested a safety review and said that the federal government would send resources to support the affected people. [5] President Bola Tinubu later said the review will be "swift and comprehensive“. He stated it will be will carried out together with multiple state ...
Oil and gas in Nigeria. The first oil well in Nigeria was drilled in 1958 in Oloibiri [12] which is present day Bayelsa State. This acted as a milestone for the production of oil and gas in Nigeria and the emergence of the country as a top oil & gas producer globally. In 2022, Nigeria was still Africa's biggest oil producer and one of the ...
The Dangote Refinery is an oil refinery owned by Dangote Group that was inaugurated on 22 May 2023 [1] in Lekki, Nigeria.When fully operational, it is expected to have the capacity to process about 650,000 barrels of crude oil per day, making it the largest single-train refinery in the world.
On 18 January 2025, a fuel tanker carrying roughly 60,000 liters of petrol overturned at the Dikko junction near Suleja, Niger State, northern Nigeria, where after crashing local residents gathered to collect spilled fuel. The fuel promptly caused an explosion which killed over 100 people and injured another 69, including at least 52 critically.
The energy index decreased 3.6% for the 12 months ending in August on an unadjusted basis, although prices increased 5.6% on a seasonally adjusted month-over-month basis after rising just 0.1% in ...
Oil prices have already picked up sharply since the announcement, with Brent futures with February expiry up by $1.50 per barrel to $78.05 per barrel at 13:19 London time, while the front-month ...
OML29 consists of 9 fields including the iconic Oloibiri Oilfield (1st Commercial Oil Discovery in Nigeria) and holds 2.2 billion barrels of oil equivalent, BOE, while Its hydrocarbon fields could deliver as much as 160,000 barrels of oil per day, and 300 million cubic feet (8.5 million cubic metres) per day at standard conditions at peak output. [6]