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The Nigerian National Petroleum Company Limited has taken a formal step towards reviving its long-troubled refining infrastructure, signing a Memorandum of Understanding with two Chinese companies for a potential Technical Equity Partnership aimed at completing and operating the Port Harcourt and Warri refineries. The agreement was signed on April 30, 2026, in Jiaxing City,…
The Nigerian National Petroleum Company Limited (NNPCL) has reported a decline in oil production for February 2026, even as monthly revenues saw a modest increase. Output fell to 1.51 million barrels per day (mbpd), a notable slide from the 1.64 mbpd achieved in January. This dip highlights the persistent volatility in Nigeria’s upstream sector despite…
The Socio-Economic Rights and Accountability Project (SERAP) has issued a seven-day ultimatum to Senate President Godswill Akpabio to open the books on a staggering ₦200 trillion investigation. The Senate Public Accounts Committee is currently scrutinising allegations of “missing or unaccounted funds” within the Nigerian National Petroleum Company Limited (NNPCL) covering the period between 2017 and…
ABUJA — Nigeria’s fiscal ambitions faced a sobering reality check this week as the latest OPEC data revealed a significant shortfall in crude oil production. Despite a marginal increase in January, the nation’s output remains stalled at 1.459 million barrels per day (bpd). This figure sits nearly 400,000 barrels below the 1.84 million bpd benchmark…
The Ogun State Government has officially reaffirmed its territorial jurisdiction over Eba Island. This strategic coastal territory, located in Ogun Waterside Local Government Area, recently attracted national attention. President Bola Ahmed Tinubu recently approved the commencement of drilling activities at a revitalized oil well there. However, conflicting claims from certain quarters in Ondo State have…
