Page 48 - Escravos News Today

Advertisement This is compared to the N161.93 billion recorded in October 2020. These figures are contained in the NNPC report presented to the federation account allocation committee (FAAC) at its meeting on December 15 and December 16, 2020. According to the report, gross revenue realised from joint venture (JV) crude oil was N197.34 billion while N11.24 billion was realised from JV gas sales. Advertisement The NNPC said it lost 1.8 million barrels of crude oil from 16 flow stations over unf...

TODAY December 30, 2020 The gross revenue realised from crude oil and gas sales by the Nigerian National Petroleum Corporation (NNPC) in November 2020 rose by 37.31 percent to N223.34 billion. This is compared to the N161.93 billion recorded in October 2020. These figures are contained in the NNPC report presented to the federation account allocation committee (FAAC) at its meeting on December 15 and December 16, 2020. According to the report, gross revenue realised from joint venture (JV) cr...

•Corporation loses 1.88 million barrels to shut-ins By Emmanuel Addeh The Nigerian National Petroleum Corporation (NNPC) recorded a gross revenue of N222.3 billion, excluding statutory and obligatory deductions in November 2020, latest figures from the national oil company have indicated. Documents presented by the corporation, detailing its activities to the Federation Account Allocation Committee (FAAC) meeting of 15-16 December, 2020, showed that after months of falling crude oil exports a...

By Solomon Asowata The year 2020 has undoubtedly been one of the most difficult years for the oil and gas industry globally in the last few decades. It saw the Coronavirus pandemic grip nations across the globe, necessitating countries and states to lock down their borders for some time, thereby preventing movement of persons, goods and services for months unless under special circumstances. This restriction of movement affected many sectors of the economy, but one of the worst hit was the oil ...

TODAY December 23, 2020 President Muhammadu Buhari yesterday pledged to deepen gas production and utilization in Nigeria to enhance economy growth of the nation Speaking at the commissioning of the Integrated Gas Handling Facility, IGHF, and LPG storage and dispensing plants at Ologbo, in Oredo in Edo State, the President stated that his administration would not relent in its drive to use gas as a catalyst for sustainable economic development of Nigeria. According to him: “At the beginning ...

Speaking to journalists after the pre-commissioning tour of the facilities at Ologbo yesterday, the Managing Director of Nigerian Petroleum Development Company Ltd (NPDC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC) Mr Mansur Sambo, said the IGHF has the capacity to produce 30 metric tonnes of gas per day and the storage tanks can store up to 42,000 metric tonnes of gas. Sambo said the NPDC would use the Ologbo-based IGHF to accomplish its domestic gas supply obligation t...

Emmanuel Addeh writes on federal government’s shift to commercial and domestic use of gas, a resource that the country has in abundance The year 2020 has witnessed a major resurgence of attention to the role that gas resources could play in the development of the Nigerian economy and as a major source of government revenue. It’s been a year that gas has featured prominently, like never before, in conversations around developing the sector and taking the gaze away from crude oil, which is ve...

ON THE GO ABCON: 26 BDC operators arrested over ‘money laundering, terrorism financing’ The Association of Bureau De Change Operators of Nigeria (ABCON) says 26 members have been arrested by security operatives, over alleged unlawful foreign exchange (FX) transactions.Advertisement Aminu Gwadabe, president of... Makinde: For blocking governance loopholes, I’ve received threats over 2023 ambition Seyi Makinde, governor of Oyo, says he has received threats over the forthco...

[FILES] Power grid. Photo: PIXABAYA combination of crippling security challenges across the country and fatigue of lamentation over constant outages of power appears to have reduced the public campaign for improved supply of electricity. But the problem of power has not run away; rather it escalates with a breakdown of the system as reflected in the reported collapse of the national grid the other day. The regressive situation once again exposes the futility of the government’s efforts to re...

Chris Paul The Nigerian Petroleum Industry Bill and the Transformation of the Nigerian Oil and Gas industry in 2021: An Oil Producer Trade Section (OPTS) Perspective was the theme of the webinar put together by the Nigeria American Chamber of Commerce (NACC) last Thursday. Supported by Chevron Nigeria, the webinar had in attendance a cross section of industry experts and enthusiasts from different countries around the world. The Director General of the NACC, Sola Obadimu, anchored the programme...