Barely two months after petroleum tanker explosion killed scores of persons in Onitsha, Anambra State, fear of another disaster is waiting to happen at Ekpan, Uvwie LGA of Delta State Continue Reading
Nigeria, which has pumped above its OPEC quota for months to the ire of other members, brought down its crude oil production in November to fully comply with its cap, Continue Reading
Hundreds of legitimate workers, including drivers and fuel station attendants, are now idling away following the ban on the supply of petroleum products to filling stations in Nigeria’s land border Continue Reading
The Nigeria Customs Services (NCS) has ramped up efforts to curtail smuggling with a directive to the Nigerian National Petroleum Corporation (NNPC), Petroleum Products Pricing Regulatory Agency (PPPRA) and all Continue Reading
Senegal, a West African country which has seen several major oil and gas discoveries in recent years, is launching a new licensing round to award three offshore blocks as it Continue Reading
President Muhammadu Buhari on Monday in London signed the amended Deep Offshore Act. The president in his statement that was made available by his Senior Special Assistant on Media and Continue Reading
Nigeria’s Dangote refinery — set to be Africa’s biggest at 650,000 b/d plant — was expected to be ready to process crude by early 2021, officials said Monday. Receive daily Continue Reading
Nigeria expects to retain international auction houses to have US$40 million worth of jewelry, which was seized from a former oil minister accused of corruption, sold. The Economic and Financial Continue Reading
Nigeria must do all within its powers to reduce the cost of crude oil production to help boost revenue generation for economic growth and national development, the Minister of State Continue Reading
The recent decision by the Federal Government through the Office of the Attorney General of the Federation and Minister of Justice, Abubakar Malami, to demand from the international joint venture Continue Reading
Russia is looking to strengthen ties with Africa’s largest oil producer with a focus on reforming Nigeria’s downstream and gas sector, the Russian energy ministry said late Wednesday. Russia’s energy minister Continue Reading
Nigeria’s crude oil production, including condensates and natural gas liquids, stood at 1.93mbpd or 59.83 million barrels in August 2019, according to the latest monthly economic report of the Central Continue Reading
Nigeria’s President Muhammadu Buhari and Russia’s President Vladimir Putin during the official welcoming ceremony by Russian President Vladimir Putin for the heads of state and government of states participating in Continue Reading
Oil theft A report by the Nigeria Natural Resource Charter (NNRC) has revealed that the highest ever reported crude oil theft in the world has taken place in Nigeria, with Continue Reading
The highest ever reported crude oil theft in the world has taken place in Nigeria with the country recording approximately 400,000 barrels per day (bpd) crude theft, a report showed. Continue Reading
Nigeria risks disruption in oil and gas supplies and power generation, due to declining exploration activity and depleting oil reserves, the Nigerian Association of Petroleum Explorationists (NAPE) has warned . Continue Reading
Minister of State for Petroleum Resources, Mr. Timipre Sylva, said yesterday that it was impossible for the Federal Government to recover a total $62 billon from International Oil Companies, IOCs, Continue Reading
The Nigerian National Petroleum Corporation (NNPC) has said that the rate at which pipelines of major oil companies are sabotaged in Nigeria has continued to increase, stating that it rose Continue Reading
A fire has broken out on an oil lease in the southeastern state of Imo in Nigeria, during what preliminary investigation believes to be illegal bunkering activity by thieves, Nigerian Continue Reading
If someone had reported that Angola was preparing its state oil company for privatization three years ago, many would have laughed refused to believe it. In 2016, Sonangol was in Continue Reading
The Nigerian government, through its attorney-General, Abubakar Malami, says it is determined to recover over $62 billion from multi-national oil companies for ‘under-payment’ to the country since 1998. Under the Continue Reading
Nigeria may face an easier task to finally fall in line with its share of the OPEC+ production cuts after OPEC has recently raised the African producer’s oil output ceiling. Continue Reading
Nigeria is ready to make the sacrifice and cut its oil production deeper if OPEC and allies decide in December that it is necessary to deepen the cuts, Nigerian Minister Continue Reading
Royal Dutch Shell and Eni are in the clear as far as the US Department of Justice is concerned, after the DOJ on Wednesday notified the two separately that it Continue Reading
Nigeria is currently losing $25 billion annually to illegal oil bunkering and insecurity on the nation’s waterways. This was disclosed by the immediate past minister of transportation, Rt. Hon Rotimi Continue Reading
With a wobbling Gross Domestic Product of $1.8 trillion, countries in Sub-Saharan Africa are on the cusp of economic transformation, with the imminent coming on-stream of the $12 billion Dangote Continue Reading
The bulk of an estimated $90 billion that left Africa annually through illicit financial flow to overseas might have come from Nigeria. The Chairman of the Independent Corrupt Practices and Continue Reading
Yenagoa — Shell Petroleum Development Company of Nigeria Limited (SPDC) has said security remains a major challenge occasioned by continuing crude oil theft and vandalism of oil and gas facilities Continue Reading
Nigeria loses between $7 billion and $12 billion to crude oil theft annually, a study by the Nigeria Natural Resource Charter (NNRC) has found, prompting reactions from stakeholders on the Continue Reading
The new Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mr. Mele Kyari, thursday disclosed that the petroleum price of N145 per litre obtainable in Nigeria is the cheapest Continue Reading
Despite Nigeria’s effort to curb the menace of pirates attacks on vessels particularly in the Gulf of Guinea, Nigeria has continued to lead other countries of the world that are Continue Reading
The new Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC) Mallam Mele Kolo Kyari yesterday assumed office setting targets that included fixing all the country’s refineries before Continue Reading
A Nigerian court has ordered the seizure of $40 million of luxury items, mainly jewelry and a customized golden iPhone belonging to the ex-minister of Nigeria’s petroleum resources Diezani Alison-Madueke, Continue Reading
About 30 persons were on Monday killed while over 60 suffered various degrees of burns while scooping Premium Motor Spirit, PMS, also known as fuel from a loaded truck that Continue Reading
International oil major Shell and Nigerian stakeholder communities agreed to reopen the flow station for the Oil Mining Licence 25, the regional Rivers state governor said. Shell also agreed in Continue Reading
Nigeria’s crude oil export fell by 1.6 million barrels in May, representing a 6.8 per cent decline from data for April export, according to figures obtained from the Central Bank Continue Reading
Outages at North Sea oilfields have helped put competing for Nigerian oil on pace to arrive in Europe at the highest levels in seven months in June, according to Refinitiv Continue Reading
The Department of Petroleum Resources (DPR) has said that in 2017, a total of 264,938,662 barrels of crude oil were stopped from getting out of oil fields in the country Continue Reading
The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, says the country’s daily oil production is currently 2.32million barrel per day. Mr Baru disclosed this on Tuesday when Continue Reading
Citing the danger of continuous sabotage to people and environment, and attendant loss of revenue, Shell Nigeria has called for stakeholders’ support to curb the incessant vandalism of crude oil Continue Reading
The fundamentals of the 2019 budget are under threat as crude oil price slumped again yesterday to flatten at $60 per barrel, the same benchmark on which the N8.8 trillion Continue Reading
Fuel scarcity has hit Sierra Leone’s capital, Freetown since Sunday, causing long queues at gas stations and hampering the movement of vehicles and goods across the country. Commercial drivers, motorbike Continue Reading
Angola plans to launch a renewable energy auction that could help reduce reliance on oil, after one of its worst fuel shortages in May, energy secretary Antonio Costa said on Continue Reading
Nigeria’s four refineries operated at just 5.55 percent of their combined nameplate capacity of 445,000 barrels daily (b/d), according to latest data released by Nigerian National Petroleum Corporation (NNPC), underlining Continue Reading
OPEC has so far avoided a bruising intra-bloc market share battle, with top exporter Saudi Arabia’s crude oil production falling to a four-and-a-half-year low in May, even as sanctions-hit Iran, Continue Reading
OPEC has so far avoided a bruising intra-bloc market share battle, with top exporter Saudi Arabia’s crude oil production falling to a four-and-a-half-year low in May, even as sanctions-hit Iran, Continue Reading
Royal Dutch Shell, the parent body of Shell Nigeria Exploration and Production Company Limited (SNEPCo), has attributed the persistent oil pipeline spillage in the Niger Delta region of the country Continue Reading
Facts emerged yesterday that the April 18, 2019 oil well fire on Chevron Nigeria Limited (CNL)’s Ojumole Well 1 in Polobubo (Tsekelewu) community in Warri North Council, Delta State, is Continue Reading
A report has revealed that oil theft has replaced activities of militants, with Nigeria losing 100,000 barrels daily, running into trillions of naira. The report by Bloomberg showed that between Continue Reading
Facts emerged yesterday that the April 18, 2019 oil well fire on Chevron Nigeria Limited (CNL)’s Ojumole Well 1 in Polobubo (Tsekelewu) community in Warri North Council, Delta State, is Continue Reading
