TotalEnergies has approved the final investment decision of the Lapa South-West oil development located in the Santos Basin, 300 km off the coast of Brazil. TotalEnergies operates the project with a 45 percent interest, in partnership with Shell (30 percent) and Repsol Sinopec (25 percent). Lapa South-West will be developed through three wells, connected to the existing Lapa FPSO located …

The Nigerian National Petroleum Corporation Plc (NNPC) deducted over N3.3 trillion from January to November, last year to pay for fuel subsidy. The deductions were made from revenue the NNPC was supposed to remit to the Federation Account. This is contained in the Federation Account Allocation Committee (FAAC) Post-Mortem Sub-Committee (PMSC) report presented to FAAC on Tuesday in Abuja. The …

The Federal Government said on Monday that the licensing process for seven deep offshore open oil blocs, which began on 3rd January will last for four months. It welcomed investors with expertise and experience in deep water operations from across the world to accept the financial terms of the Petroleum Industry Act 2021 and participate in the bidding for the …

Dangote Group, a leading business conglomerate on the African continent, has denied wide reports that the commission date for its refinery has been set. Several media outlets had reported that the Dangote refinery would commence operations on 24th January. However, according to Timilehin Oyedare of Dangote Group’s Digital Communications Unit, Corporate Communications said that the quoted source in the reports are fake …

The Nigerian National Petroleum Company (NNPC) Limited intends to begin drilling for oil in Nasarawa State in March 2023 as part of its ongoing efforts to explore for oil in the nation’s interior basins. The Group Chief Executive Officer of the Company, Mallam Mele Kyari disclosed this when the Governor of the State, Engr. Abdullahi Sule led a delegation of …

Residents of the Bayelsa State capital, Yenagoa, and its environs have been lamenting the high cost of the pump price of petrol in the state. Although some major marketers charge N250 for a litre of fuel, others charge N350 and N380 as customers arrive at the filling stations with various-sized jerrycans. Only the filling station of the NNPC Limited along …

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) will host a stakeholder conference in Lagos on Monday, as part of measures to bring interested companies up to speed with the requirements of the 2022 Nigeria Mini Bid round process. In a statement on Wednesday, NUPRC’s Chief Executive, Engr. Gbenga Komolafe said the conference would provide potential applicants with the opportunity to …

The Minister of State for Petroleum Resources, Chief Timipre Sylva declared on Monday that he would be okay as a private citizen to buy a litre of Premium Motor Spirit (PMS), popularly called petrol, at N300 per litre. made the comment While presenting President Muhammadu Buhari’s scorecard in the petroleum sector under the media series organised by the Federal Ministry …

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Thursday, issued a seven-day ultimatum for all lease and licence holders operating in Nigeria’s oil and gas sector, to disclose the real owners of their companies. In the directive signed by its Chief Executive, Engr. Gbenga Komolafe, the commission demanded that the information to be disclosed must include the identity (ies) of …