Dr. Emmanuel Kachikwu, Minister of State, Petroleum, in President Buhari’s just-ended first term has said that the future of the Nigerian oil and gas sector lies in private sector refining, Continue Reading
Cameroon has increased troops around its lone oil refinery, after a weekend explosion caused a shutdown of the facility. But the government denies separatist fighters were responsible and says there Continue Reading
Angola’s steep decline in crude production over the past three years has been tough to ignore. The government led by President Joao Lourenco has unearthed a plan that includes tendering Continue Reading
African crude oil sales into China, the world’s biggest importer, have stalled as buyers wait for spot sale offers from top supplier Angola to fall in line with slumping benchmark Continue Reading
Nigeria will be in a vulnerable position if oil prices fall again and further borrowing becomes too expensive or no longer feasible, a report has warned. Andrew Roche, sovereign debt Continue Reading
The Senate, yesterday, raised the alarm that the nation has spent not less than N11 trillion on oil subsidy payment in six years, warning that further payment could kill the Continue Reading
The Department of Petroleum Resources (DPR), international oil companies (IOCs), security agencies, community leaders and other stakeholders yesterday warned that oil theft was retarding the national economy and fuelling environmental Continue Reading
Port Harcourt — The Nigerian Army has said it destroyed no fewer than 120 illegal refining sites in the Niger Delta, insisting that its action was in line with its Continue Reading
Nigeria’s government has authorized a local oil company to operate a new floating crude oil export terminal off the coast of the Rivers state in the oil-rich but still troubled Continue Reading
Chinese President Xi Jinping held talks with Nigerien President Mahamadou Issoufou on Tuesday. Calling China and Niger good friends, partners and brothers, Xi hailed the constantly strengthening political mutual trust and Continue Reading
President Muhammadu Buhari yesterday in Abuja said the destruction of oil facilities by vandals was having adverse effects on host communities as well as the majority of the people and Continue Reading
The Nigerian unit of Royal Dutch Shell doesn’t have any plans to return to exploring or producing oil in Ogoniland in Nigeria’s Rivers state after it ceased operations there in Continue Reading
As President Muhammadu Buhari, who doubles as the petroleum minister, completes his first term in office, stakeholders in the oil and gas sector have insisted that his performance in the Continue Reading
A major fire outbreak has occurred on Trans Forcados Pipeline, TFP, late Sunday night. Vanguard gathered that the fire started in Yeye community, Burutu Local Government Area, Delta State. Chairman Continue Reading
The inferno which engulfed oil wells operated by Chevron Nigeria Limited in Ojumole communities in Ilaje Local Government Area of Ondo State has continued unabated 32 days after it started. Continue Reading
There are indications that Nigeria has lost significant oil as a result of increasing pipeline vandalism and oil theft in the Nigeria Delta. Investigation by Vanguardover the weekend showed that Continue Reading
The President of Angola Joao Lourenço has fired Sonangol CEO Carlos Saturnino, as well as the whole board of directors. Now there are several things which seem wrong at first Continue Reading
Italy’s oil and gas major Eni said on Tuesday that it had made a new discovery in Angola’s deep offshore estimated to contain up to 250 million barrels of light Continue Reading
All On, which is a seeded company of Shell, has advised Nigeria to initiate and implement a graduated and weighty tax system on the production, assemblage and importation of power Continue Reading
The head of state energy giant Sonangol is replaced just as the company plans extensive asset divestments. There is ample precedent indicating that Angola?s new ruling elite is seeking to Continue Reading
Daily, about 126 heavy-duty trucks jot across a massive land area that is seven times the size of Victoria Island. This is aside the 750 heavy-duty equipment stationed in what Continue Reading
The Federal Government has accused former President Goodluck Jonathan and the former Minister of Petroleum Resources, Diezani Alison-Madueke, of accepting bribes and breaking the country’s laws to broker a $1.3 Continue Reading
Highlights Currency crunch sparks fuel crisis Crude output continues to slump London — Angolan president Joao Lourenco began a major shake-up at state-owned Sonangol Thursday, dismissing Carlos Saturnino as chairman Continue Reading
The Movement for the Survival of the Ogoni People (MOSOP) said it had uncovered plans by the Nigerian government to commence oil drilling in Ogoniland using security agencies and criminally Continue Reading
Notwithstanding its increased production output of 1.95 million barrels daily (mbd) for April, according to the latest S&P Global Platts survey, Nigeria’s output remains below the 2019 budget benchmark of Continue Reading
Nigeria’s deepwater operations have generated over $180 billion following a capital investment of more than $65billion made by the players in the oil and gas industry, the Group Managing Director, Continue Reading
The United States refineries have upped their imports of Iraqi, Nigerian, Brazilian, and Angolan crude oil, with May volumes, double that of April levels, data from Refinitiv Eikon has shown. Continue Reading
A key oil pipeline and a logistics base in Nigeria’s oil-rich Niger Delta have been impacted by a shutdown and protests, the operator of the facilities said on Monday, in Continue Reading
The Nigerian government is seeking about $3.5 billion in damages from oil giants Eni and Shell over the controversial Malabu oil deal, PREMIUM TIMES has gathered. The new claim is Continue Reading
Protesters in Nigeria’s Nembe region barricaded the logistics base of oil company Aiteo on Sunday and briefly disrupted its operations, the company said. Aiteo had just reopened its Nembe Creek Continue Reading
The Federal Government has disclosed that about 43 refineries, including large scale and modular refineries, have been licensed to refine petroleum products across the country. The Senior Technical Adviser to Continue Reading
The Nigerian National Petroleum Corporation (NNPC) yesterday said $2.2 billion (N673.2 billion) had been saved from refining over 40 billion liters of crude oil abroad through the nation’s Direct Sale Continue Reading
Among the challenges besetting Nigeria’s economy, which has been internationally acknowledged is the multifaceted nature of losses that are largely induced by poor records, corruption and tardiness in enforcement of Continue Reading
The small West African country Gambia has awarded BP the exploration rights to drill for oil and gas in an offshore block which another company claims it has the rights Continue Reading
A Dutch court on Wednesday ruled in favour of four Nigerian women who sued oil giant Shell. The women, including Esther Kiobel, sued Shell for its alleged role in the Continue Reading
A Dutch court said on Wednesday it has jurisdiction to hear a damages suit brought against energy company Royal Dutch Shell by four widows of activists executed by the Nigerian Continue Reading
Africa’s largest oil producer, Nigeria, is dusting off an ambitious plan to double its oil production by 2025, aiming to pump as much as 4 million bpd in six years’ Continue Reading
Nigeria’s crude production may rise further by additional 160,000 barrels per day (bpd) with the completion of Pan Ocean Oil Corporation Nigeria Limited’s three oil and gas infrastructure. Although Federal Continue Reading
Five oil wells in oil-rich Ondo State has been reportedly gutted by fire on Thursday morning. The fire, accompanied by an explosion occurred at Ajegunle Ikorigho, Ondo State. The oil Continue Reading
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has warned that Nigeria is facing stiff competition from new oil and gas discoveries in Africa Continue Reading
The National Union of Petroleum and Gas Workers (NUPENG) has urged the federal government to reject the advice given by the International Monetary Fund (IMF) on fuel subsidy. NUPENG also Continue Reading
With increased global competition in the crude oil production space, and the need to find a solution to the rising subsidy payments, the Nigerian National Petroleum Corporation (NNPC), has said Continue Reading
Saudi Arabia has hinted on the possibility of establishing a refinery in Nigeria. Minister of Energy Industry and Mineral Resources of the Kingdom of Saudi Arabia, Khalid Al Falih dropped Continue Reading
Highlights To sign MOU on energy investment Saudi Aramco looking at building oil refinery in Nigeria Nigerian refining in urgent need of investment London — Saudi Arabia is looking to Continue Reading
Nigeria’s petroleum downstream sub-sector, especially refineries, pipelines and others may witness a major overhaul following ongoing talks between the Federal Government and the Saudi authorities in Riyadh. The Minister of Continue Reading
Nigerian firm Aiteo Oil Exploration and Production Company , has discovered that sabotage was the cause of the fire that caused Nigeria’s oil production to fall 8% per day, creating Continue Reading
The House of Representatives, on Wednesday, passed a bill seeking to help plug leakages in government’s streams of income in the oil sector for second reading. This followed a motion Continue Reading
The Organisation of the Petroleum Exporting Countries (OPEC), is upbeat at the prospect of the Dangote Oil Refinery, in driving world crude oil refining capacity increase especially in Africa by Continue Reading
Many companies are now floating modular refineries in Nigeria – and it’s shaping up to be a big positive for the energy sector and the Nigerian economy. MARK ITSIBOR reports Continue Reading
The operator of the Nembe Creek Trunk Line—one of the two key pipelines of Nigeria’s Bonny Light crude grade capable of transporting 150,000 bpd to the export terminal— declared on Continue Reading
