The Organization of Petroleum Exporting Countries, OPEC, on Thursday extended the cuts in oil output by nine months to March 2018, as the group battles a global glut of crude.
The Minister of State for Petroleum Resources, Emmanuel Ibe Kachikwu, has announced that Nigeria will start refining crude on or before 2019.
The Nigerian National Petroleum Corporation (NNPC) has debunked speculations of an impending increase in fuel price.
The Petroleum Tankers Drivers (PTD) arm of the National Union of Petroleum and Natural Gas Workers (NUPENG), have commenced a nationwide indefinite strike, shutting down depots and fuel terminals till further notice.
There are indications that fuel scarcity looms in Nigeria and a shortfall in its oil exports earning as Shell Plc said it had shut down the Nembe Creek Trunk Line, which exports Bonny Light crude oil.
The Nigerian National Petroleum Corporation, NNPC, has concluded its plan to construct Trans Saharan Gas Pipeline, TSGP, from Warri through Algeria to Spain.
Crude oil deposits have been found in Bida basin in Niger State.
The Nigeria Liquefied Natural Gas, NLNG, Ltd. says it is rectifying the pipelines which exploded on Feb. 22 in Rivers, to ensure resumption of industrial gas supply within the week.
Available report indicates that a group of individuals and companies have written Acting President, Yemi Osinbajo, to call the Group Managing Director (GMD), of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, to order.