Category: Energy

Breaking! Arbitration tribunal awards $1.69bn to NPDC over Brass, Forcados crude oil assets

By Reuben Nwankwo              Engr S. Matashi, MD of NPDC An Arbitral Tribunal sitting at the Lagos Court of Arbitration has delivered a landmark Arbitral award in favour of the Nigerian government owned Nigerian Petroleum Development Company (NPDC) Limited in the arbitration between the Atlantic Energy Drilling Concepts Nig Ltd and Atlantic Energy Brass Development […]

We have no $470.5 million, N8 billion hidden in banks-NNPC

By Reuben Nwankwo. Dr Baru, GMD of NNPC   The Management of the Nigerian National Petroleum Corporation, NNPC on Friday denied runing any opaque account with the commercial banks and therefore has neither $470.5m nor N8billion of its money hidden anywhere. The state owned oil company was reacting to a sensational report by the Inspector […]

OPEC Output Rises On Nigeria, Kuwait Supplies

Oil production from the Organization of Petroleum Exporting Countries (OPEC) rose in July, despite supply shortfalls from Libya, Iran and Saudi Arabia. Rising output from Nigeria, Kuwait and the UAE offset the drops. OPEC production averaged 32.32 million barrels per day (bpd) in July, 40,700 higher than June, according to the group’s monthly oil market […]

Dangote graduate trainees promises to end fuel scarcity

Aliko Dangote Newly trained Dangote Refinery graduate engineers have promised an end to the ongoing fuel scarcity in the country when  the Refinery takes off. The engineers just returned from a training programme at Bharat Petroleum Corporation Ltd. in India, the company said today. The engineers have promised to deploy the knowledge and skills acquired […]

NNPC: Reflecting on Maikanti Baru’s one year in office

By Patrick Nwabueze It is just a year President Mohammadu Buhari in his executive wisdom appointed Dr Maikati Kacalla Baru to head the state owned Oil and Gas conglomerate, Nigerian National Petroleum Corporation (NNPC) as the substantive Group Managing Director (GMD). The appointment, was remarkably a welcomed development as it was viewed as a rectification of an apparent distortion of the establishment act of the corporation, having […]