LAGOS — The Department of Petroleum Resources (DPR) has clarified the process it uses for accounting for crude production in the country. The agency disclosed that most incidents relating to oil theft occur from the land terminals. A statement issued on Thursday in Lagos by Mr. Paul Osu, Head, Public Affairs, DPR, said Mr. Sarki Auwalu, Director, DPR made the clarification while speaking before the House of Representatives Ad-hoc Committee on Oil Theft in Abuja....

President Muhammadu Buhari will virtually inaugurate the National Oil and Gas Excellence Centre (NOGEC), Lagos, on Jan.21, in a bid to boost the operations of the nation’s petroleum sector, an official of the Department of Petroleum Resources (DPR), has said. Mr. Paul Osu, Head, Public Affairs, who made the announcement in a statement issued on Monday, in Lagos, quoted the Director of DPR, Mr Sarki Auwalu, the chief host of the event, as saying that...

The Nigerian National Petroleum Corporation  (NNPC) says it recorded a trading surplus of ₦28.38 billion in September 2020. The Corporation disclosed this in its Monthly Financial and Operation Report (MFOR)  for the month of September, released in Abuja, on Sunday. It said that the amount was slightly lower than the ₦29.60 billion surplus in August 2020. The marginal reduction in surplus, according to the report, was as a result of lower contribution from the Nigerian...