Oil & Gas

Per Second News is the leading source in Nigeria for current news and events for the energy, oil and gas industry.

NNPC Ltd and challenges in the oil sector: Banire misconceives the facts, promotes biased views

In the face of the challenges in the oil sector, particularly the current tightness in the supply of petrol, it has become fashionable...

Crude oil contributed N14.56trn to Nigeria’s exports in Q2 2024

Crude oil exports accounted for 74.98 percent of Nigeria’s total export value in the second quarter of 2024, according to the Nigeria Bureau...

In Lagos, architect of Nigeria’s “stolen” crude in China and American businessman Antonio Ramirez jailed 74 years in $1.2m visa scam

For defrauding people of $1.2 million through an EB-5 visa scam and an additional $368,698.24, the Lagos State Special Offences Court sitting in...

NNPC Ltd/Chevron JV Concludes Assets Conversion to PIA Terms

In accordance with the Petroleum Industry Act (PIA) 2021 provisions for transiting assets from the Petroleum Profit Tax (PPT) into PIA terms, the...

NNPC Ltd. signs partnership deal with China Engineering Corporation for power project funding

The Nigerian National Petroleum Company Ltd. (NNPC Ltd.) has signed a deal with the China Engineering & Machinery Corporation (CMEC) for the co-funding...

NNPC Ltd’s $6bln debt confirms Tinubu’s truthfulness about fuel subsidy removal – Presidency

The Special Adviser to the President on Information and Strategy, Mr. Bayo Onanuga, has said that the $6 billion owed to oil traders...

Dangote Refinery set to flood Nigeria with 25m litres of petrol daily

The Dangote Oil Refinery will supply a total of 25 million litres of petrol to the Nigerian market daily starting from this September,...

Breaking: Dangote refinery commences petrol production

Alhaji Aliko Dangote has officially announced the commencement of petrol production at the Dangote Refinery in Lekki, Lagos. He praised President Bola Tinubu’s...

NNPC Ltd. Faces Financial Strain Due to PMS Supply Costs, Impacting Supply Sustainability

The Nigerian National Petroleum Company Ltd. (NNPC Ltd.) has acknowledged recent reports in national newspapers regarding the company’s significant debt to petrol suppliers....

Cross-border fuel smuggling: Oil Minister says security agencies are complicit

The Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, has pointedly addressed the issue of fuel smuggling to neighboring countries, saying that...

NNPC Ltd. expands global market footprint to Japan, China with LNG supply on delivered-ex-ship basis

In line with its strategic vision to be a dynamic and reliable global energy supplier of choice, the Nigerian National Petroleum Company Limited...

Divestments by Mobil Producing Nigeria Unlimited, others followed due process under PIA, NUPRC insists

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has shed light on some divestments including the divestment by Mobil Producing Nigeria Unlimited (MPNU) that...

Oando acquires Nigerian Agip Oil Company for $738m

Oando Plc has completed its acquisition of the Nigerian Agip Oil Company (NAOC) from Italian energy giant, Eni, for a total consideration of...

Crude oil sales to Dangote Refinery in naira start October 1 – FG

The Federal Government says it will commence the sale of crude oil to the Dangote refinery in naira on October 1, 2024. In...

Breaking: NNPC Ltd.’s profit surges by 28%, records highest profits of N3.29trn in 46 years

The Nigerian National Petroleum Company Limited (NNPC Ltd) has recorded its highest profit in 46 years as it released its 2023 Audited Financial...

No presidential approval yet to use nation’s dividends to defray petrol subsidy – NNPC Ltd.

The Nigerian National Petroleum Company Limited (NNPC Ltd) has described as false the news making the rounds that President Bola Tinubu has approved...