The Organization of Petroleum Exporting Countries (OPEC) is upbeat at the prospect of Dangote Oil Refinery serving to drive world crude oil refining capacity increase, especially in Africa by 2020. Continue Reading
The state oil company of OPEC member Angola, Sonangol, plans to sell off stakes in dozens of joint ventures and cut jobs in order to focus on its core exploration Continue Reading
Aiteo Eastern Exploration and Production has declared force majeure on crude oil supply through Nigeria’s 150,000 b/d Nembe Creek Trunk Line, a key oil pipeline connected to the Bonny terminal Continue Reading
The Senate yesterday passed a new bill, which provided for penalty against gas flaring and other malpractices in the oil and gas sector.The last legislation on gas flare, the Associated Continue Reading
Former Vice President Atiku Abubakar made an unpopular statement during the campaign worth a second thought. He said if he was elected president, he would sell off the Nigerian National Continue Reading
Production outages and maintenance are set to push Angola’s oil exports to a 13-year low, according to an industry source quoted by Reuters. There are just 38 oil cargoes scheduled Continue Reading
One of Africa’s brightest LNG prospects, Tortue FLNG is edging increasingly closer to its estimated commissioning date, 2022. It is one of the largest deepwater gas find of recent years Continue Reading
The Federal Government, yesterday, disclosed that it has started the real-time tracking and monitoring of gas flaring and oil spillage across the country. Speaking during the launch and handover of Continue Reading
The nation’s fuel shortage has worsened as consumers spent the weekend on queues for the product, despite assurances by the Nigerian National Petroleum Corporation, NNPC. Meanwhile, the Federal Government yesterday, Continue Reading
The Nigerian Security and Civil Defence Corps (NSCDC) will on Monday begin a clampdown on petrol dealers hoarding or diverting products in Ekiti State. The NDCDC, Ekiti Command, said it Continue Reading
After several unmet deadlines for ending gas flaring, oil and gas firms still continue to waste natural gas resources in the country as the 2020 deadline nears, ’FEMI ASU writes Continue Reading
A dispute between Haiti and a U.S. energy trading firm is leading to long blackouts and fuel shortages in the Caribbean nation, feeding anger at President Jovenel Moise’s government following Continue Reading
The Executive Director and Production Manager of ExxonMobil Nigeria, Richard Laing debunked the rumor that the organizations was exiting from Nigeria. Laing made this statement on Saturday during the Minister Continue Reading
Ibe Kachikwu, the Minister of State for Petroleum Resource says that no International Oil Company (IOC) is planning to exit Nigeria contrary to reports in some section of the media. Continue Reading
The average production cost for a barrel of oil in Nigeria has declined to just US$23 a barrel, Petroleum Minister Emmanuel Ibe Kachikwu told local media, adding that oil companies Continue Reading
Washington DC — The International Monetary Fund (IMF), yesterday in Washington DC, United States, declared that Nigeria’s Excess Crude Account (ECA) was not achieving the goals for which it was Continue Reading
No fewer than 800 companies have bid for management of 176 gas flare sites in the country, the Minister of State for Petroleum Resources, Ibe Kachikwu, has said. Mr K.achikwu Continue Reading
The International Monetary Fund (IMF) has advised Nigeria and other countries still subsidising fuel for domestic consumption to stop doing so. The IMF said fuel subsidy removal would help boost Continue Reading
The Federal Government, Thursday, disclosed that it is working on a legislation, through the Department of Petroleum Resources, DPR, to compel petroleum products marketers to set up gas filling plants Continue Reading
More than 50 per cent of Nigeria’s oil and gas blocks remain untapped even as crude oil production continues to hover around two million barrels per day while gas shortages Continue Reading
The rising tide of light U.S. shale oil has largely swept away comparable grades of Nigerian oil from American shores and is putting them under pressure in Europe. But steady Continue Reading
Africa’s richest man and President of Dangote Group, Alhaji Aliko Dangote, has said his refinery, one of the world largest, when completed, will transform Nigeria’s economy. He stated this at Continue Reading
Nigeria’s Petroleum Minister Emmanuel Ibe Kachikwu has said that he isn’t aware of any plans of U.S. oil and gas supermajor ExxonMobil to exit upstream operations in OPEC’s African member. Continue Reading
A cargo of Nigeria’s distillate-rich Bonga crude is due to move to the United States (U.S.) from the May loading programme, traders have disclosed, after a near six-month hiatus. According Continue Reading
The Minister of State for Petroleum Resources, Ibe Kachikwu has tasked indigenous operators to step up their investments and take over major operations from international oil companies, especially as many Continue Reading
Yenagoa — The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has tasked indigenous operators in the oil and gas sector to step up their investments and take over Continue Reading
The president’s first term fell short of the changes needed to modernize the sector. Can he make headway in his second? Muhammadu Buhari, re-elected as president of Nigeria in February, Continue Reading
Nigeria’s Petroleum Minister Emmanuel Ibe Kachikwu admitted that reducing oil production to the quota assigned by OPEC is a challenge, not least because of the start of production at the Continue Reading
The Nigeria National Petroleum Corporation (NNPC) has pledged to deepen its search for oil in the north. The corporation has also described the Dangote Refinery, currently under construction, as a Continue Reading
Royal Dutch Shell, Nigeria’s largest foreign investor paid the Nigerian government $6,397,325,844 as oil production entitlement, taxes, royalties and fees arising from the company’s activities involving oil and gas exploration, Continue Reading
Exxon Mobil recently held talks on the sale of a suite of oil and gas fields in Nigeria as the company focuses on new developments in U.S. shale and Guyana, Continue Reading
At the 2019 International Petroleum Conference held in London, recently, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, was reported to have copiously highlighted major Continue Reading
French supermajor Total said on Tuesday that it had started up production at the Kaombo Sul oil development, adding 115,000 bpd to bring Total’s overall production capacity to 230,000 bpd, Continue Reading
There are indications that ExxonMobil has concluded plans to divest from some onshore and offshore fields worth $3 billion in Nigeria. Industry and banking sources that made this disclosure to Continue Reading
Exxon Mobil may sell a suite of oil and gas fields it holds in Nigeria and has commenced talks on the sales as it focuses on new developments in United Continue Reading
The government should demonstrate seriousness in diversifying the economy The pledge by the federal government to build a digital economy around the creative sector to create jobs for young people Continue Reading
The 650,000 barrels per day Dangote refinery is expected to produce 65.4 million litres of petrol, diesel, aviation fuel and Kerosene daily when it becomes operational. According to the Group Continue Reading
Bayelsa State Governor, Mr. Seriake Dickson has lamented the environmental despoliation in the Niger Delta saying the region records about 40 million litres of oil spill annually as against 4 Continue Reading
The Federal Government has kick-started the rehabilitation of Port Harcourt refineries. Speaking yesterday at the inauguration ceremony in Port Harcourt, Dr Maikanti Baru, Group Managing Director of NNPC, said the Continue Reading
A gas shortage in Angola, one of Africa’s leading oil producers, means drivers in the capital Luanda have to form lengthy queues to fill up their tanks. The shortages are Continue Reading
An increase in the number of new refining capacity, expected to extend till the end of 2024, signifies major competition ahead for the oil industry, with possible shutdowns, the International Continue Reading
The Nigerian National Petroleum Corporation (NNPC) said on Wednesday it would achieve the 2.3 million barrels per day production target in the 2019 budget by sustaining the improved security in Continue Reading
There are indications that Nigeria may amend its N8.9 billion 2019 budget, following the recent oil output cut by about 400,000 barrels per day, bpd, in conformity with the Organisation Continue Reading
The Nigerian National Petroleum Corporation (NNPC) is to amend its planned northern corridor gas supply line to extend up to Algeria from Kano, a distance of over 2000 kilometres according Continue Reading
The Kolmani River-II Well which drilling was flagged off last month by President Muhammadu Buhari is progressing satisfactorily, with drilling of 6,700 feet so far, the Group Managing Director of Continue Reading
A principal suspect in the controversial Malabu oil scandal on Wednesday appeared as a witness before an Italian court in Milan. Abubakar Aliyu is alleged to have acted as a Continue Reading
Italy’s oil and gas major Eni said on Wednesday that it had made a major oil discovery in Angola’s deepwater in a find that could help the African OPEC producer Continue Reading
Normal crude oil export operations were restored, March 7, on the 150,000 barrels per day Nembe Creek Trunk Line (NCTL) following the plugging of a leak which resulted in the Continue Reading
Increased production by Nigeria and Iraq above the agreed quota by members of the Organisation of the Petroleum Exporting Countries (OPEC), in February, saw compliance level hitting 79 per cent Continue Reading
Mr Mohammed Sidi, Director, Weights and Measures Department, Federal Ministry of Industry, Trade and Investment, has disclosed that oil dealers have been cheating Nigerians of N198,500 per truck sold. Sidi Continue Reading
