Changing trends in global crude oil demand are creating rising uncertainty for Nigeria, as appeal for its product – ‘Bonny light’ continues to wane, with a growing focus on ‘heavy crude’ which is produced by countries including Saudi Arabia, Mexico and Angola.
Barely a month after it resumed production, the Warri Refining and Petrochemical Company Limited has been shut down again, a situation that may constitute a setback to the new administration’s current efforts at shoring up local supply of petroleum products.
Petrol station owners in Umuahia, the Abia State capital, on Thursday, closed shops in protest against government’s insistence that they should dispense the premium motor spirit at the official pump price of N87 per litre.
Moves by the President Muhammadu Buhari administration to terminate the controversial offshore dispensation and oil swap agreements may save the country an average of 230,000 barrels a day. 
The Nigerian National Petroleum Corporation on Thursday said it had reduced the number of crude oil off-takers for the proposed 2015/2016 term contract from 43 to 16.
Operators in the downstream sector of Nigeria’s oil and gas industry have called for the total liberalisation of petroleum products price regime, maintaining that government’s regulation of petroleum products prices has created more obstacles than incentives in the system.The Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Ibe Kachikwu, has said the fall in global crude oil prices calls for a review of the Petroleum Industry Bill in order to iron out all the grey areas in the bill. The PIB has been before the National Assembly for about seven years.
Nigeri's plan to increase its crude oil export in October may suffer setback as European refinery maintenance is expected to peak in that month, limiting the amount of crude oil they consume.
The Nigerian National Petroleum Corporation (NNPC) has cancelled contracts for supply of oil to refineries among other steps aimed at boosting operational efficiency.
Falling oil prices may have given rise to uncertainties in the oil and gas corporate world, as corporate balance sheets are being continually assailed.
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Ibe Kachikwu has raised hope over the stalled Petroleum Industry Bill (PIB), promising that the corporation needs at least one year to get it back on track.
Following President Muhammadu Buhari’s approval to the Nigerian National Petroleum Corporation (NNPC) for the cancellation of the offshore process contracts and crude oil swaps, the state-run oil firm has started the process of setting out new terms for the selection of new traders for the oil swap programme.
Total Exploration and Production Nigeria has disclosed that the Joint Investigation Visit, JIV, team which visited the oil spill reported at Kilometer 25 and 27 locations on the Obagi – Rumuekpe oil export pipeline recorded that the incident was due to third party sabotage.
The Presidency may have waded into the impasse between the Nigerian unit of Italian oil giant, Nigerian Agip Oil Company, NAOC, and indigenous oil service company, Arco Petrochemical Engineering Company Plc, with a view to resolving the crisis, which is now before a Port Harcourt Federal High Court.
The Nigeria Extractive Industries Transparency Initiative (NEITI) has stated that the ongoing organisational restructuring at the Nigerian National Petroleum Corporation (NNPC) has given it the confidence that the government would initiate far-reaching reform in the Nigeria’s oil and gas sector.
CIVIL Society Orga-nizations, CSOs in Nigeria and other stakeholders have advocated a public hearing on the removal of petroleum subsidy to enable President Muhammadu Buhari take a final decision. 
The Department of Petroleum Resources on Friday stormed several filling stations at Ikorodu, Ibeju-Lekki and Ketu, in Lagos, shutting down 14 stations for manipulating their dispensing pumps and over-charging buyers, among other offences.
The Nigerian National Petroleum Corporation (NNPC) is considering adopting the community-based security model for the protection of its gas and oil pipelines across the country, its Group Managing Director, Dr Emma Kachikwu has said.
Shell Petroleum Development Company of Nigeria on Friday said it had lifted the force majeure on gas supplies to the Nigeria LNG Limited from the Eastern Gas Gathering System following repair of a sabotage leak on the line.
The fixing of petroleum products’ prices is denying the country investment in the downstream sector of the oil and gas industry and depriving Nigerians certain benefits from the country’s petroleum resources, industry stakeholders said on Thursday.
To ensure efficiency, transparency and free enterprise in the country’s oil sector, the Nigerian National Petroleum Corporation (NNPC) has reiterated the need for deregulation of the industry.
With the slide in global oil prices showing no sign of abating and further driving down the Federal Government’s receipts from oil sale, production from joint venture operations in the country looks set to continue its downward trend.
President Muhammadu Buhari has assured indigenous companies operating in Nigeria’s oil and gas sector of the full support and protection of his administration.
Executive General Manager, Total E&P Nigeria Ltd, Vincent Nnadi has advised staff of the company to acquire business skills that would enable them to succeed in post-service years, especially in view of recent volatility of global oil market.
Nigeria has been grouped alongside Algeria, Iraq, Libya and Venezuela as members of the Organisation of Petroleum Exporting Countries (OPEC) ‘fragile five’, according to RBC Capital Markets Ltd.
Energy Information Administration (EIA) expects global consumption of petroleum and other liquids to grow by 1.3 million bpd in 2015, unchanged from the previous month’s Short Term Energy Outlook.
Other than Nigeria’s plummeting finances, oil companies in the country's oil and gas sector, as is the case with oil producers worldwide, have been forced to scale down on investments, slash their budgets and lay off staff as plunging oil prices takes a toll on crude oil exporting countries and industry operators.Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Ibe Kachikwu has said that the corporation will from next month publish periodically its financial transactions. 
THE National Oil Spill Detection and Response Agency (NOSDRA) has threatened to sanction the Shell Nigeria Exploration and Production Company (SNEPCo), for failure to pay $3.6 bilion fine for damages to the livelihood of host communities through its massive oil spill.
The Nigerian Gas Master Plan, which came on stream seven years ago, should be amended and licensing round should be carried out to expand access to gas reserves for development, industry operators and experts have said.
The nation’s crude oil exploration and production activities may have hit a record low, going by the latest report from the Nigerian National Petroleum Corporation (NNPC).
Nigerian government’s recent ban of nearly 100 oil tankers from the country’s waters has sown confusion in the operations of Africa’s largest crude exporter.
The Bayelsa Government has called for Federal Government’s intervention, to check frequent oil pipeline explosions in the Niger Delta.The management of the Nigerian National Petroleum Corporation, headed by its Group Managing Director, Dr. Emmanuel Kachikwu, will start meeting with key officials of unions in the sector as well as the entire workforce of the national oil firm beginning from today (Monday).
The Nigerian National Petroleum Corporation, NNPC, Thursday appointed 15 new Group General Managers (GGM) to man some of its divisions.
The Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Dr. Emmanuel Ibe Kachikwu, has given a hint on the three-pronged strategy for the restructuring of the state-run oil firm, adding that this would entail the reorganisation of management personnel, a forensic audit of the firm's accounts, and a review of its contracts with oil majors and other industry operators.
Bayelsa State Government has threatened to sanction the management of Nigerian Agip Oil Company for the delay in releasing the autopsy reports of the victims of a pipeline explosion which occurred at the oil company’s Azuzuama oilfield.
Nigeria’s oil and gas sector accounts for about 80 per cent of the total corruption-related issues across the country, the Independent Petroleum Marketers Association of Nigeria has said.
President Muhammadu Buhari on Tuesday evening fired the managing directors of the subsidiaries of the Nigerian National Petroleum Corporation and retired 38 top management staff of the firm, trimming down their number from 122 to 83.
The Petroleum and Natural Gas Senior Staff Association of Nigeria has urged President Muhammadu Buhari to halt political interference in the operations and activities of the Nigerian National Petroleum Corporation, as part of the ongoing reforms in the oil and gas industry.
Despite claims that Nigeria’s refineries are now operational, the country will have to depend largely on imported petrol in the third quarter of 2015.
Following the carte blanche given by President Muhammadu Buhari to clean up the Nigerian National Petroleum Corporation (NNPC) and plug the leakages in the state-run oil firm, its new Group Managing Director, Dr. Emmanuel Kachikwu, will from this week start inviting oil traders who were awarded crude oil swaps and offshore processing contracts by NNPC during the administration of President Goodluck Jonathan.
Strong indications have emerged in Abuja that President Muhammadu Buhari may not be in a hurry to sell Nigeria’s three refineries.
The Management of Total E&P Nigeria Ltd. announces the appointment of Mr. Ahmadu-Kida MUSAas Deputy Managing Director, DeepWater District based in Lagos with effect from August 1, 2015. He replaces Mr. Charles NGOKA who has proceeded on retirement.
Hope for Nigeria’s less-dependent on imported petroleum products has been renewed as the Port Harcourt Refinery will this week resume full production of petrol, when Chrome Oil Services Limited would have completed the rehabilitation of Area 3, where petrol, Liquefied Petroleum Gas (LPG) and other lighter products are produced.
As the efforts to reposition the Nigerian National Petroleum Corporation (NNPC) continue, there are indications that about 50 percent of the top level officers of the corporation would be retired.
The National Economic Council’s ad hoc committee on the management of the Excess Crude Account proceeds and accruals into the Federation Account on Thursday agreed to engage two international accounting firms to carry out a forensic audit of the accounts and the Nigerian National Petroleum Corporation.
