On July 19, 2022, the Nigerian government made an official announcement confirming the complete transformation of the Nigerian National Petroleum Corporation (NNPC) into NNPC Limited (NNPCL). NNPCL is a brainchild of the Nigerian Petroleum Industry Act (PIA) which was passed into law in August 2021
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While the introduction of the NNPCL promises to be advantageous to the country’s energy industry, realistically, there are certain challenges that need to be promptly and properly addressed for the new NNPCL to function effectively and achieve its objectives.
Latin America’s national oil companies (NOCs) posted quarterly profits that would delight any investor, but with the exception of Argentina this hasn’t so
Brazilian national oil company Petróleo Brasileiro (Petrobras) saw falling natural gas demand and the need for fewer liquefied natural gas (LNG) cargoes