Crude traders yesterday sidelined crude coming from Nigeria but showed interest in specifications from Angola.Differentials for Nigerian crude remained unchanged as a lack of bids met an overhang of unsold Continue Reading
Nigerian crude market is still stuck with an overhang of close to 20 unsold cargoes from the 58-strong October loading programme. International oil traders disclosed to The Guardian yesterday that Continue Reading
Total Nigeria Plc yesterday attributed accidents caused by oil tankers’ in Nigeria to illiteracy among tanker drivers, ageing equipment, substandard tank construction and low quality of road infrastructure. Total’s Management Continue Reading
Nigerian crude market is still stuck with an overhang of close to 20 unsold cargoes from the 58-strong October loading programme. International oil traders disclosed to The Guardian yesterday that Continue Reading
After 58 years of independence, the state of the Nigerian oil industry has remained pathetic among other oil producers. Up till this moment, the industry lacks relevant and contemporary regulations. Continue Reading
Opposition candidates seeking to unseat Nigeria’s President Muhammadu Buhari are attacking his economic record and treatment of foreign investors as election season intensifies in Africa’s most populous country. Four members Continue Reading
Royal Dutch Shell wants to reweight its footprint in Nigeria to focus on oil and gas fields far offshore, away from the theft, spills, corruption and unrest that have plagued Continue Reading
It’s only September but Nigerians are already dreading Christmas. For years, the holiday season has been marred by paralysing fuel shortages, grinding business to a halt. “Every December, I guarantee Continue Reading
A Nigerian police investigation has retrieved hundreds of millions of dollars in stolen state oil funds. It came as an Italian court sentenced two men to four years in jail Continue Reading
An Italian court has concluded plans to deliver its first verdict on the trial of top Shell and Eni executives, over alleged corruption in the controversial Malabu scandal tomorrow in Continue Reading
The United States, yesterday, disclosed that Nigeria’s inability to eliminate subsidy on petroleum products and failure to hands off the fixing of electricity tariffs is hampering the provision of critical Continue Reading
Failure on the part of industry regulators in Nigeria has relegated Nigeria to the background among the comity of nations, thus making it a destination for dirty fuels. Petroleum products Continue Reading
At least 35 people were killed on Monday and hundreds injured when a gas tanker exploded in northern Nigerian the state of Nasarawa and started a blaze, the state emergency Continue Reading
The Federal Government has secured a $500 million (about N179.9 billion) facility from the Export Import Bank of China (CEXIM) through the Bank of Industry (BOI) for the establishment of Continue Reading
Oil giant, Shell, has reportedly initiated negotiations with local oil producers for selling two of its Nigerian oil licences in the Niger Delta, collectively worth $2 billion. The Anglo-Dutch petrochemical Continue Reading
The Nigerian Navy has deployed 16 newly bought ships to the Niger Delta to guard critical oil infrastructure, local media report , quoting the Chief of the Nigerian Naval Staff. Continue Reading
A six-week-long blockade of ExxonMobil’s offices and oil facilities in Nigeria by former workers protesting their dismissals now threatens the normal production and exports of Nigeria’s flagship Qua Iboe crude Continue Reading
Earlier in the week, details emerged that President Muhammadu Buhari had withheld assent to the harmonised Petroleum Industry Governance Bill (PIGB). Ita Enang, the presidential aide on National Assembly Matters, Continue Reading
Against the backdrop of recent threats by militant groups to resume disruption of oil production in the Niger Delta, James Emejo and Chineme Okafor write that the Nigerian economy could Continue Reading
The news, early this week, that President Muhammadu Buhari has refused to assent to the Petroleum Industry Governance Bill (PIGB) and has returned it to the Senate, struck me like Continue Reading
Unarguably, the African continent is home to five of the top 30 oil producing countries in the world. Nigeria, with a maximum crude oil production capacity of 2.5 million barrels Continue Reading
The Nigerian National Petroleum Corporation (NNPC) is to establish two condensate refineries with 200,000 barrels per day (bpd) refining capacity at Western Forcados Area and Assah North, Ohaji South (ANOH) Continue Reading
While Nigeria’s President Muhammadu Buhari is said to be withholding signing the country’s new petroleum bill into law over concerns that it strips the president of powers over the industry, Continue Reading
A disagreement in the areas impacted by an oil leak on the Trans Ramos Pipeline within Shell’s oilfield at Aghoro communities in Bayelsa has stalled a joint investigation of the Continue Reading
Thirty crude oil cargoes are sitting in Nigeria and waiting for buyers, Reuters reports, citing trading sources who added that the cargoes were part of the country’s loading schedule for Continue Reading
An export pipeline in the Niger Delta remained closed after a subsidiary of Royal Dutch Shell said it was responding to a release of crude oil. The subsidiary, Shell Petroleum Continue Reading
But for the recurring wastefulness of federal government, the country could have used about $1 trillion it earned from its production and sale of crude oil in five different oil Continue Reading
London — Oil major Shell shut-in the Trans Ramos pipeline which feeds into Nigeria’s Forcados oil export terminal, to clean up crude oil spilled from a ruptured section, it said Continue Reading
The Nigerian National Petroleum Corporation will float 40 percent of its stock on the local stock exchange once the President signs the Petroleum Industry Governance Bill, Nigerian media report . Continue Reading
French supermajor Total will increase Nigeria’s oil production by 200,000 bpd by the end of the year, a senior official from the local unit of the company said at an Continue Reading
Africa in the next three years. The Chief Strategist at the NNPC, Mr. Bala Wunti disclosed this. Wunti, who is the Group General Manager, Corporate Planning and Strategy of the Continue Reading
The Nigerian National Petroleum Corporation (NNPC) and a Chinese consortium have met in Dubai, United Arab Emirate, to work towards finalising the term sheet for financing of the 614 kilometres Continue Reading
Nigerian National Petroleum Corporation, NNPC, yesterday, disclosed that a group of investors has acquired a 100,000-barrel per day, BPD, refinery in Turkey, from British Petroleum, BP, and are currently in Continue Reading
Nigeria is banking on the 200,000 b/d offshore Egina project to boost its production by over 10%, as the Total-operated field is expected to come online later this year. Receive Continue Reading
Shell’s presence in Nigeria has been controversial, what with lawsuits for the pollution of the Niger Delta, chronic pipeline vandalism and, in recent years, militant attacks on oil-producing infrastructure. But Continue Reading
LONDON (Reuters) – A huge oil refinery being built in Nigeria by Africa’s richest man is unlikely to start production until 2022, two years later than the target date, sources Continue Reading
The construction of the 650,000 barrels of crude oil per day Dangote Refinery is expected to help Nigeria save over $7.5 billion through import substitution.The project, will put Nigeria on Continue Reading
The Peoples Democratic Party (PDP) Monday charged President Muhammadu Buhari and the ruling All Progressives Congress (APC)-led administration to tell Nigerians what they know about the N9 trillion ($25 billion) Continue Reading
The construction of the 650,000 barrels of crude oil per day Dangote Refinery by the Dangote Group is expected to help Nigeria save over $7.5 billion through import substitution and Continue Reading
The decision to go ahead or withhold action the development of Nigeria’s Bonga Southwest offshore oilfield by Royal Dutch Shell and its partners has been put off till 2019, a Continue Reading
Nigeria’s crude oil production is expected to rise further if Royal Dutch Shell and its partners, next year, decide whether to go ahead with the development of the nation’s Bonga Continue Reading
Shell Nigeria’s production unit Tuesday said it hoped to conclude negotiations soon on a commercial framework for the expansion of the Bonga deepwater oil field, after which a final investment Continue Reading
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has suggested that upcoming petroleum refining plants in Nigeria could place a lot of demand on the country’s oil production Continue Reading
Between March 2017 and March 2018, a period of 13 months, the Nigerian National Petroleum Corporation (NNPC) incurred a loss of N240,304,755,518 as under-recovered expenditure in importing petrol at the Continue Reading
The Nigeria National Petroleum Corporation (NNPC), on Wednesday pledged that more than five million jobs would soon be created to alleviate the unemployment levels in the country. The Group Managing Continue Reading
Oil producing communities in the Niger Delta region of the country have indicated their preference to have the new bill – the Petroleum Host and Impacted Communities Bill (PHICB) – Continue Reading
Royal Dutch Shell has reportedly started talks for the potential $2-billion sale of two disputed Nigerian oil licenses and their infrastructure assets, according to Bloomberg, after four years of failed Continue Reading
Constant pipeline breakages, uncertainties in security of assets amongst other issues in the Niger Delta oil fields have increased oil and gas companies’ average shut down days from 45 to Continue Reading
A former Director of the Department of Petroleum Resources (DPR) and Lead Consultant to the National Assembly on the Petroleum Industry Bill (PIB), Mr. Osten Olorunsola has disclosed that oil Continue Reading
Shell lifted the force majeure on exports of Nigerian crude Bonny Light on Friday following the repair and reopening of the Nembe Creek Trunkline (NCTL) by the operator, it said Continue Reading
