Captains of industry and commerce have endorsed calls by the Nigerian government for oil companies to relocate their headquarters to their areas of operations. The Port Harcourt Chamber of Commerce, Continue Reading
For sale: stakes in oil fields. Bids from world class energy companies preferred. Pipelines and terminals associated with the deposits only blown up about a dozen times in the past Continue Reading
Nigerian President Muhammadu Buhari will return to Nigeria on March 10, according to an official statement by the president’s office, Reuters reported. Buhari has been out of the country in Continue Reading
Shell Nigeria Exploration and Production Company (SNEPCo) has halted production at Nigeria’s Bonga oil field. The exercise, which commenced on March 4, was put in place for maintenance that will Continue Reading
The Joint Senate Committee on Petroleum (Downstream, Upstream) and Gas at the weekend said it had uncovered a large-scale fraud of about N10 trillion allegedly perpetrated by officials of the Continue Reading
Nigeria’s anti-graft agency filed new charges against Royal Dutch Shell Plc and Eni SpA , alleging the companies “corruptly” paid $801 million in 2011 when acquiring an offshore oil field. Continue Reading
Nigeria’s economy shrank for a fourth consecutive quarter in the three months through December and contracted for the whole year, the first such move since 1991. Gross domestic product in Continue Reading
The Chief of Army Staff, Tukur Buratai, a Lieutenant General, says contrary to notion in some quarters, illegal bunkering, refinery and oil theft in the Niger Delta had reduced. Fielding Continue Reading
The ‘Computer Village’ in the Ikeja suburb of Lagos, where electronic products such as mobile phones, computer hardware and accessories are sold. It’s 4 p.m. in Nigeria’s capital and Ahmed Continue Reading
The Minister of State for Petroleum, Dr. Ibe Kachikwu, has clarified the $50-$100 billion said to have been lost to the attacks of oil and gas infrastructure by the Niger Continue Reading
The Nigerian National Petroleum Corporation, NNPC, said on Thursday that it has recorded about 58 per cent reduction in cases of pipeline sabotage. This was disclosed in the Corporation’s monthly Continue Reading
Nigeria said it lost out on as much as $100 billion in revenue last year as attacks by militants in the oil-rich Niger Delta cut crude output to a record Continue Reading
Nigerian Vice President Yemi Osinbajo visited the Niger Delta on Friday in a move that could bring peace to the oil-producing region after almost a year of militant and separatist Continue Reading
The Nigerian Navy has rescued an oil tanker from pirates near Bonny Island, even as the number of high-seas hijackers is at an 18-year low, according to the International Maritime Continue Reading
Italian prosecutors are pursuing a criminal trial for Royal Dutch Shell PLC and the chief executive of Italian oil company Eni SpA on charges of corruption tied to a controversial Continue Reading
Nigeria’s progress in curbing militant attacks hasn’t much boosted its oil output. While that’s bad news for a country mired in its worst economic slump in 25 years, it’s making Continue Reading
Nigeria will stop importing refined petroleum products by 2019, Ibe Kachikwu, the Minister of State for Petroleum Resources, said on Tuesday in Abuja. Mr. Kachikwu said this at a public Continue Reading
Nigeria’s crude oil exports are on track for a month-on-month rise in March after a string of loading delays pushed back some cargoes. Exports are slated to reach 1.62 million Continue Reading
A UK High Court yesterday ruled that two Niger Delta communities devastated by oil spills cannot pursue their case against Shell in the United Kingdom for oil spills that occurred Continue Reading
A Nigerian court has ordered Royal Dutch Shell Plc and Eni SpA to cede control of a jointly owned oil license to the government amid an investigation into how they Continue Reading
Nigeria’s economy may struggle to rebound from its worst slump in 25 years unless President Muhammadu Buhari can end an armed conflict in the nation’s oil-producing region and fix a Continue Reading
Fitch Ratings Ltd. revised the outlook on Nigeria to negative from stable over concerns that a lack of foreign exchange will hamper the economy, and affirmed the West African nation’s Continue Reading
General Electric Co ( GE.N ) has proposed investing in Nigeria’s oil refineries, potentially convening a consortium of companies to improve capacity at the run-down facilities. GE’s plan and similar Continue Reading
Oil Reaches Mid-$60s in Months Crude oil prices, hovering around $55 a barrel since early December, will climb by about $10 in the coming months as OPEC-led measures to curb Continue Reading
The Nigerian Military has denied reports that militants blew an oil pipeline in Delta State after Vice President Yemi Osinbajo’s visit, saying it was a bush-burning incidence that was put Continue Reading
Citing possible terrorism, Nigerian media reported Wednesday an oil pipeline was on fire less than a day after the vice president was in an oil-rich region. Nigerian newspaper Vanguard reported Continue Reading
Nigeria may have reclaimed its position as Africa’s top oil producer which it lost to fellow African oil producer, Angola earlier in March 2016. According to the December 2016 Monthly Continue Reading
The inability of petroleum marketers to pay or service banks loans in the last two years is threatening further importation and could worsen the financial position of banks. The marketers Continue Reading
Despite intractable militancy and ongoing theft from pipelines which has hobbled its oil production, Nigeria’s government remains resolutely upbeat over its plans to turn things around in 2017. Nigeria, which Continue Reading
A court in London will decide in coming weeks whether Royal Dutch Shell can face trial in the UK over oil spill allegations in Nigeria, a decision some legal experts Continue Reading
Royal Dutch Shell Plc shut the Trans Niger oil pipeline after a fire, threatening to worsen a drop in Nigerian output due to unplanned disruptions. The line can transport about Continue Reading
Nigeria may be on the path to becoming self-sufficient in the production of petroleum products, as the Federal Government expects to increase the country’s refining capacity from 445,000 barrels per Continue Reading
Nigeria’s state oil company said more than 30 companies, with nearly half of those foreign entities, have received one-year term contracts for crude oil. The Nigerian National Petroleum Corp. awarded Continue Reading
Nigeria’s crude oil exports are on track to edge higher in February, due in part to deferred January cargoes, loading program compiled by Reuters showed on Wednesday. The loading program Continue Reading
LONDON, Dec. 30 (UPI) — A minority player in OPEC-member Nigeria said it was able to stimulate crude oil production at one of its operating areas by about 15 percent. Continue Reading
Nigeria is producing around 1.8 million barrels of oil daily, up from an average 1.63 million bpd in the third quarter of the year. The current rate of production is Continue Reading
Nigerian President Muhammadu Buhari is eyeing an increase to his country’s oil production to 2.2 million bpd , the volume it had pumped before militant attacks in the Niger Delta Continue Reading
Nigeria cut its 2017 growth forecast by half a percentage point as the ongoing economic slump slows output, the Budget and National Planning Minister Udo Udoma said. West Africa’s biggest Continue Reading
Foreign airlines operating in Nigeria are panicking over current fuel shortage on the West African coast that may affect their operations especially as the Yuletide season beckons. While Nigeria, which Continue Reading
A new pipeline project to bring Nigerian gas through Africa to Europe has been launched by the sovereign wealth funds of Nigeria and Morocco, the latest attempt to link Nigeria’s Continue Reading
Following OPEC’s decision on Wednesday, Nigeria can, in the next one year starting January 1, 2017, pursue programmes aimed at increasing its crude oil production capacity and growing national reserves Continue Reading
Nigeria’s cabinet approved a 20 percent increase in spending proposals next year, taking the figure to 7.3 trillion naira ($23.3 billion), according to the Budget and Planning Ministry. President Muhammadu Continue Reading
Nigeria, Iran and Libya got special concessions Wednesday, as the Organisation of Petroleum Exporting Countries, OPEC, reached the much-sought consensus to cut oil production by 1.2 million barrels per day, Continue Reading
President Muhammadu Buhari says the sophistication involved in the bombings of oil and gas installations in the Niger Delta indicates that those behind it are not ordinary Nigerians, but professionals. Continue Reading
Nigerians who voted Muhammadu Buhari into office last spring thought he would spearhead efforts to deliver the overhaul he promised. In September they learnt that, 16 months into his presidency, Continue Reading
There was confusion in parts of Ughelli in Delta State on Sunday as an explosion rocked a pipeline belonging to Nigerian Petroleum Development Company (NPDC). Though security operatives believed that Continue Reading
Kachikwu sees crude rising just above $50 if deal is reached Producers due to meet on Nov. 30 to allocate output quotas As OPEC prepares for talks on eliminating a Continue Reading
The Federal Government has warned the people of Niger Delta region that the destruction of oil facilities will ultimately destroy their livelihoods, aspirations and future. Vice President Yemi Osinbajo gave Continue Reading
Minister of State for Petroleum Resources, Mr. Ibe Kachikwu, yesterday, stated that Nigeria’s crude oil output had risen to around 1.9 million barrels per day. Kachikwu also disclosed that the Continue Reading
Emere Godwin Bebe Okpabi, leader of Nigeria’s Ogale people, unpacked four bottles of water from his homeland and lined them up on a table to show why his subjects are Continue Reading
