Nigeria’s petroleum sector faces challenges as the Nigerian National Petroleum Corporation (NNPC) confirms significant disruptions at the Dangote Refinery operations. This has led to a notable drop in the country’s oil output, impacting both domestic supply and export potential. The Dangote Refinery, a key player in Nigeria’s energy infrastructure, is critical for meeting local demand and boosting the economy. Stay tuned for updates on the situation and its broader effects on the oil market.

Nigeria’s Oil Output Drops Significantly Amid Dangote Refinery Disruption

The Niger Delta Avengers (NDA) militant group today claimed responsibility for an attack on a gas pipeline belonging to the state-run oil company in southern Nigeria. 
 
&quot;At 11:30 pm on Sunday, the NDA blew up Nigerian National Petroleum Corporation (NNPC) gas pipeline at Nsit-Ibom,&quot; in Akwa Ibom state, the group said in a terse statement. 
 
NNPC officials were not immediately available for comment, but the attack is bound to worsen gas supplies to power plants in a country reeling from daily outages. 
 
The Avengers have claimed a string of devastating attacks against the NNPC as well as oil majors Shell, Chevron, Exxon and Eni since February. 
 
The attacks have reduced output at a time when Nigeria is struggling with low global crude prices which have hammered government revenues, weakening the country&#39;s naira currency and pushing up inflation to near 11-year highs. 
 
The rebels want oil majors to leave the Niger delta, blaming them for contributing to widespread poverty and under-development of the region. 
 
The group also wants self-determination for the oil-producing states in the delta region and political autonomy. 
 
The Avengers have rejected a government truce to end violence. 
 
(AFP)&nbsp; 
 
 
 
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The attack is bound to worsen gas supplies to power plants in a country reeling from daily outages.

The Niger Delta Avengers (NDA) militant group today claimed responsibility for an attack on a gas pipeline belonging to the state-run oil company in southern Nigeria. "At 11:30 pm on Sunday, the NDA blew up Nigerian National Petroleum Corporation (NNPC) gas pipeline at Nsit-Ibom," in Akwa Ibom state, the group said in a terse statement. NNPC officials were not immediately available for comment, but the attack is bound to worsen gas supplies to power plants in a country reeling from daily outages. The Avengers have claimed a string of devastating attacks against the NNPC as well as oil majors Shell, Chevron, Exxon and Eni since February. The attacks have reduced output at a time when Nigeria is struggling with low global crude prices which have hammered government revenues, weakening the country's naira currency and pushing up inflation to near 11-year highs. The rebels want oil majors to leave the Niger delta, blaming them for contributing to widespread poverty and under-development of the region. The group also wants self-determination for the oil-producing states in the delta region and political autonomy. The Avengers have rejected a government truce to end violence. (AFP)

Rebels blow up state-run gas pipeline in southern Nigeria

The Nigerian government announced today&nbsp;that it has signed $80 billion worth in oil and gas deals with Chinese companies. 
 
Nigerian junior state oil minister and Nigerian National Petroleum Corporation (NNPC) head Emmanuel Kachikwu met Chinese investors in Beijing this week to attract money for upgrading the country&#39;s ageing and run-down refineries. 
 
Kachikwu&#39;s visit comes two months after President Muhammadu Buhari travelled to China and secured a $6 billion loan and currency swap deal to mitigate a looming recession and ballooning inflation in the West African county. 
 
Nigeria&nbsp;signed &quot;MOUs with Chinese firms worth over $80 billion&quot;, the NNPC said in a statement.&nbsp; 
 
&quot;The corporation has achieved its bid to bridge the infrastructure funding gaps in the Nigerian gas and oil sector.&quot;&nbsp; 
 
But whether the agreements result in concrete upgrades will depend on if Buhari&#39;s government can halt rising militancy in the oil-producing south. 
 
&quot;Headline announcements such as this are often significantly larger than the actual investment that ends up materialising,&quot; said Rhidoy Rashid, an analyst at London-based Energy Aspects. 
 
&quot;While some projects may go ahead, others will not, especially given the current security situation in&nbsp;Nigeria.&quot;

The oil-rich Niger delta region has been hit by a wave of attacks by militants who demand a greater share of oil revenue and more political autonomy. 
 
But this week the NNPC said June production was back up from a low of around 1.6 million barrels per day to 1.9 barrels per day,&nbsp;thanks to repair work and a lull in attacks. 
 
(Reuters)

The move comes after the state oil minister's meet with Chinese investors to attract money for the country's ageing and run-down refineries

The Nigerian government announced today that it has signed $80 billion worth in oil and gas deals with Chinese companies. Nigerian junior state oil minister and Nigerian National Petroleum Corporation (NNPC) head Emmanuel Kachikwu met Chinese investors in Beijing this week to attract money for upgrading the country's ageing and run-down refineries. Kachikwu's visit comes two months after President Muhammadu Buhari travelled to China and secured a $6 billion loan and currency swap deal to mitigate a looming recession and ballooning inflation in the West African county. Nigeria signed "MOUs with Chinese firms worth over $80 billion", the NNPC said in a statement. "The corporation has achieved its bid to bridge the infrastructure funding gaps in the Nigerian gas and oil sector." But whether the agreements result in concrete upgrades will depend on if Buhari's government can halt rising militancy in the oil-producing south. "Headline announcements such as this are often significantly larger than the actual investment that ends up materialising," said Rhidoy Rashid, an analyst at London-based Energy Aspects. "While some projects may go ahead, others will not, especially given the current security situation in Nigeria." The oil-rich Niger delta region has been hit by a wave of attacks by militants who demand a greater share of oil revenue and more political autonomy. But this week the NNPC said June production was back up from a low of around 1.6 million barrels per day to 1.9 barrels per day, thanks to repair work and a lull in attacks. (Reuters)

Nigeria signs $80 billion oil and gas deals with China