With a British warning for Nigeria in place, there are concerns that militancy in the oil-rich Niger Delta could upend the political climate, a researcher said. The British Foreign and Continue Reading
Nigeria’s oil sector is estimated to have lost over 754,000 barrels per day (bpd) in February, to production shut-in occasioned by pipeline vandalism, according to the latest monthly financial report Continue Reading
Oil is the lifeblood of the modern world. Its importance in the global economic scene cannot be overemphasised. Without oil, industrialisation of the world would have not happened at the Continue Reading
The Akwa Ibom Police Command on Sunday confirmed the arrest of a village head and four suspects for allegedly abducting 19 ExxonMobil staff members. MacDon Achebe, the State Police Public Continue Reading
Africa’s richest man Aliko Dangote, who is financing the construction of one of the world’s largest oil refineries, believes that the 650,000-bpd facility could be near its full capacity by Continue Reading
The Nigerian National Petroleum Corporation (NNPC) has said that the country will increase crude oil reserves by one billion barrels yearly to meet 40 billion barrels target by 2020. Group Continue Reading
Delta has destroyed about 1500 illegal refineries with swamp buggy in the Delta creeks in the last two months. The Commander of the ship, Commodore Ibrahim Dewu, disclosed this to Continue Reading
Nigeria was recently rated the poorest country in the world, ahead of India, and that’s despite several hundred billion dollars in oil earnings over the last decade, a transparency group Continue Reading
By the year 2019, Nigeria is not only aiming to end fuel importation but to becoming a net exporter of the product, the Group Managing Director of the Nigerian Petroleum Continue Reading
Nigeria may be ensnared in another budget deficit as members of the Organization Petroleum Exporting Countries (OPEC) head for a crucial meeting to decide on output policy, which could crash Continue Reading
Global leaders must have a rethink on energy poverty in order to save around three billion people using unclean fuels for cooking and over one billion others without access to Continue Reading
Nigeria is sitting on between 20 and 34 million barrels of unsold crude, Nigerian media report , quoting a Platts survey of tenders for July loadings. This goes counter to Continue Reading
There are indications that international oil market is haunted by low demand as unsold Nigerian stocks have been estimated at between 20 and 34 million barrels. A market survey by Continue Reading
Niger Delta Activists Forum, NDAF, has warned of planned attacks on oil facilities in the Niger Delta belonging to Nigeria Agip Oil Company, NAOC. Addressing newsmen yesterday, the group said Continue Reading
NIGERIA suffered a major power cut on the first day of its World Cup campaign, according to local reports. The power grid melt down came on the same day the Continue Reading
A leak of private property data in Dubai has shed new light on how the proceeds of a notorious $1.3 billion oil deal involving Shell may have been spent on Continue Reading
With continued plummeting of crude oil prices, Nigeria now records a monthly average of N15.859 billion as under-recovery on importation of petrol or Premium Motor Spirit (PMS) into the country. Continue Reading
The Federal Republic of Nigeria and the Kingdom of Morocco on Monday in Rabat, Morocco, signed three agreements, which includes a regional gas pipeline that will see Nigeria providing gas Continue Reading
The Federal Government has remained docile over the need to review the Production Sharing Contract (PSC) signed about 25 years ago between the Nigerian National Petroleum Corporation (NNPC) and International Continue Reading
The Federal Government has remained docile over the need to review the Production Sharing Contract (PSC) signed about 25 years ago between the Nigerian National Petroleum Corporation (NNPC) and International Continue Reading
Attack on oil and gas facilities in the oil-producing region of Niger-Delta remains one of the biggest challenges for government and investors in Nigeria’s energy sector. It also creates health Continue Reading
Although Nigeria has managed to restore its oil production to around 1.8 million bpd, following major militant attacks on oil infrastructure in 2016, sabotages in parts of the oil-rich Niger Continue Reading
A massive oil spillage from Shell Petroleum Development Company, SPDC pipeline has been reported in Aghoro communities in Ekeremor Local Government Area of Bayelsa State. Confirming the spillage to newsmen, Continue Reading
A coalition of Niger Delta groups yesterday maintained that the recent protests against the Joint Task Force (JTF), a special security outfit fighting criminalities in the region, was a case Continue Reading
With the introduction of Amnesty, training and capacity building of youths in the Niger Delta, expectations were high that the development would culminate in increased peace and end to vandalism, Continue Reading
A coalition of militant groups in Niger Delta, the Joint Revolutionary Council, has threatened to resume hostilities, if the Federal Government fails to address the problems in the region. JRC Continue Reading
With the current price of Brent crude oil at N75 per barrel during the trading hours of Monday, Nigeria is losing about N2.7 billion daily, as the 100,000 barrels per Continue Reading
Following disruptions of the oil flows on the pipeline feeding the Forcados terminal in Nigeria, the facility faces more than two weeks of delays of oil cargo loadings, and no Continue Reading
A coalition of militant groups in Niger Delta, the Joint Revolutionary Council, has threatened to resume hostilities, if the Federal Government fails to address the problems in the region. JRC Continue Reading
International Oil Companies (IOCs) operating in Nigeria may have devised means to compel the Federal Government into changing its fiscal policy on the Petroleum Industry Governance Bill (PIGB). The Guardian Continue Reading
Nigerian oil and gas exploration company Oranto Petroleum will be cooperating with Russia’s largest oil producer Rosneft to develop 21 oil assets across Africa, an Oranto official told S&P Global Continue Reading
The recent closure of the Trans- Forcados Pipeline (TFP) following the May 7, 2018, suspected explosion on the facility at the Diebiri-Batan community in Warri, South West Local Government Area Continue Reading
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, on Wednesday indicated that but for the timely interventions of the government, first through back-channel consultations and then open dialogues Continue Reading
Nigeria’s state oil firm, NNPC, on Wednesday gave reasons why some of its mega filling stations in Abuja and environs have been out of service for almost two months now. Continue Reading
None of Nigeria’s four refineries worked up to 50 per cent of their capacity at any time during 2017, official figures from the state oil firm, NNPC show. The NNPC Continue Reading
The crude production target of 2.3 million barrels per day proposed in the 2018 budget will not be achieved because of acts of sabotage in the lead-up to the 2019 Continue Reading
Seven years ago, two middlemen launched civil lawsuits to seek payment for helping arrange a $1.3 billion oil deal in Nigeria. Now, nine current and former executives or contractors from Continue Reading
The Nigerian subsidiary of Shell has declared force majeure on Bonny Light exports because of the shutdown of the Nembe Creek pipeline, which has led to the accumulation of lots Continue Reading
It’s meant to be a cash cow, but the state oil company of Africa’s biggest producer is bleeding money. The Nigerian National Petroleum Corporation, the Abuja-based behemoth that dominates Nigeria’s Continue Reading
Vitol, Glencore, and Shell—the three biggest oil traders in the world—are in the running to buy the Nigerian oil assets of Brazil’s state oil firm Petrobras, Reuters reported on Thursday, Continue Reading
Oil on Thursday touched $80 a barrel in London for the first time since 2014 as U.S. crude inventories fell and analysts raise their forecasts for crude prices amidst renewed Continue Reading
A former ally of Nigeria’s President Muhammadu Buhari has pledged to privatize parts of the country’s national oil company if he wins the presidential vote next February. Atiku Abubakar told Continue Reading
Shell Nigeria Exploration and Production Company (SNEPCo) has stated that it delivered a total of 763 million barrels of oil from the Bonga field between its first production in 2005 Continue Reading
The trial of top executives from oil majors Eni ( ENI.MI ) and Shell ( RDSa.L ) over alleged corruption in Nigeria kicked off on Monday with a brief procedural Continue Reading
Oil industry sources over the weekend made startling disclosures of how top industry officials ruined Nigeria’s four refineries by diverting huge funds earmarked for their routine comprehensive turnaround maintenance (TAM). Continue Reading
The Nigerian National Petroleum Corporation (NNPC) says the nation recorded 194 cases of pipeline vandalism between January 2017 and the corresponding period of this year.During the release of its January Continue Reading
Nigeria’s oil production rebounded to 2.07 million b/d in April this year, after it slipped to 2.02 million b/d in the preceding month, according to estimates released Thursday by the Continue Reading
Hope of reducing Nigeria’s export of its crude oil overseas for refining has been rekindled by the assurance of the Group Managing Director, GMD, Nigerian National Petroleum Corporation, Dr. Maikanti Continue Reading
Nigerian Petroleum Development Company (NPDC), a subsidy of the Nigerian National Petroleum Corporation (NNPC) will push daily production of crude oil to half a million barrels, emerging as the country’s Continue Reading
State-held Nigerian National Petroleum Corporation (NNPC) aims to make its exploration and production unit—the Nigerian Petroleum Development Company (NPDC)—the top oil producer in the country, local media quoted NNPC group Continue Reading
