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
Reaching a production plateau off the coast of Angola stabilizes output at more than 150,000 barrels of oil per day, Italian energy company Eni said. The company said Wednesday it 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
Angola’s crude exports fall to lowest since at least 2008 OPEC disruptions could send prices above $80 a barrel: BofAML While plunging output in Venezuela captures the oil world’s attention, 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
Nigeria’s excess crude account is set to swell as the price of Bonny Light leaps towards $75 per barrel in the international market. The price of Bonny Light stood at Continue Reading
Africa’s second-largest oil producer Angola is seeking non-financial assistance from the International Monetary Fund (IMF) to help it with reforms aimed at revitalizing the economy that has suffered from low Continue Reading
Although Nigeria is Africa’s largest oil producer, it is also one of the continent’s largest importer of refined petroleum products. However, despite being a net importer of refined petroleum products, Continue Reading
Gbenga Onadeko is the Senior Vice President, Africa, for Welltec. In this interview, he speaks on how technology can drive down Nigeria’s cost of oil production from $20 to $6 Continue Reading
British energy company BP is moving ahead with development of a liquefied natural project off the West African coast with early design work, a contractor said. French services company TechnipFMC Continue Reading
Nigeria’s crude oil production stood at 2.022 million, bpd in March, 277,000 bpd below the 2.3 million bpd benchmark for budget 2018, indicating, the country is still struggling to step Continue Reading
With production close to a two-year low, presidential action in OPEC-member Angola has the potential to reverse a steady decline, analysis finds. “Low oil prices and the fact that the Continue Reading
Despite the fact that Nigeria as a whole managed to increase and stabilize its crude oil production last year, crude oil theft on Shell’s pipeline network resulted in a 50-percent Continue Reading
No fewer than 45 vessels are expected to berth at Lagos ports in two weeks, with 15 of such vessels laden with Premium Motor Spirit (PMS), otherwise known as petrol.Vessels Continue Reading
When oil and gas production started at the Erhoike flow station, Kokori/Orogun bloc, Delta State in 1963, just three years after the nation’s independence, the villagers, chiefly subsistence farmers, who Continue Reading
Abuja — A study commissioned by the Nigerian Natural Resource Charter (NNRC) and conducted by the Centre for Petroleum, Energy Economics and Law (CPEEL), University of Ibadan on the contributions Continue Reading
Nigeria has steadily overtaken Angola as the top oil and gas producer in Africa, with an increased out put of 91,500 barrels per day (bpd) in February 2018. Angola, which Continue Reading
The drilling rights the company sought in Liberia, however, appeared to be linked to former officials from the West African nation, according to internal Exxon documents reviewed by The Wall Continue Reading
The drilling rights the company sought in Liberia, however, appeared to be linked to former officials from the West African nation, according to internal Exxon documents reviewed by The Wall Continue Reading
The three tiers of government couldn’t share revenue for the month of February owing to discrepancies of about N37.76 billion in revenue presented by the Nigeria National Petroleum Corporation (NNPC). Continue Reading
The labour dispute between the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the oil service firms has worsened despite efforts by Petroleum Technology Association of Nigeria Continue Reading
Representatives of the 36 states and the Federal Capital Territory, Abuja returned home on Tuesday disappointed as the Federation Accounts Allocation Committee (FAAC) meeting ended in confusion in Abuja amid Continue Reading
Crude oil output from independent and sole risks producers have increased by over 100 per cent from 2.388 million barrels recorded in May 2017 to 7.487 million barrels in June, Continue Reading
Thousands of oil workers in Nigeria may lose their jobs after a wave of picketing against several service companies from the industry from members of the Petroleum and Natural Gas Continue Reading
Royal Dutch Shell has filed a criminal complaint with Dutch authorities against a former employee over the sale of a Nigerian onshore oilfield in 2011, a Shell spokesman said on Continue Reading
There are indications that thousands of jobs may be lost as the confrontation between Petroleum and Natural Gas Senior Staff Association (PENGASSAN) and petroleum industry service firms worsens. Leaders of Continue Reading
Leaders of Niger Delta, yesterday, gave members of Reformed Niger Delta Avengers, RNDA, and other militant groups in the region a four-day ultimatum to withdraw their 30-day ultimatum issued to Continue Reading
Warri — Department of State Service, DSS, has called on Nigerians not to panic over reported threat by some groups under the aegis of Niger Delta Avengers to wreak havoc Continue Reading
After making an upward revision to the reserve estimate offshore Senegal, Australia’s FAR Ltd. said a final investment decision is expected next year. FAR Ltd. and its joint venture partners Continue Reading
Crude oil could turn Ghana into one of the fastest-growing economies in the world. This seems to be the message coming from analysts as the West African country is set Continue Reading
Amnesty International has accused international oil companies, Shell and Eni of negligence when addressing spills in Nigeria, describing their actions as “serious negligence.” Amnesty said the companies were “taking weeks Continue Reading
Prototype of the modular refinery in Gbarain, Yenagoa. With the launch of Azikel Petroleum Refinery, Nigeria’s first modular refinery, Emmanuel Addeh , examines the prospects and challenges of modular refineries Continue Reading
The Shell Petroleum Development Company of Nigeria Limited (SPDC) and Nigerian Agip Oil Company Limited (NAOC) have faulted Amnesty International’s (AI’s) oil spill report against them. While SPDC described the Continue Reading
Nigeria’s long-awaited Petroleum Industry Governance Bill (PIGB) will be signed into law by President Muhammadu Buhari towards the end of March, legislators hope, according to Reuters . The OPEC nation Continue Reading
Production has started in an area that revealed more than 3 billion barrels of oil in place off the coast of Angola, Italian energy company Eni said. Eni and Angolan Continue Reading
In a groundbreaking research project, Amnesty International has accused Shell and Eni of gross negligence and irresponsible approach to oil spills in the Niger Delta, thereby exacerbating environmental crisis in Continue Reading
Amnesty International on Friday accused international oil majors Shell and Eni of negligence when addressing spills in Nigeria. Describing their actions as “serious negligence”, Amnesty said the companies were “taking Continue Reading
Abuja — The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, wednesday in Abuja, said the idea of modular refineries in the Niger Delta was not designed to address Continue Reading
The Nigerian National Petroleum Corporation hinted yesterday that overhaul projects of the nation’s ailing refineries will commence in the second quarter of 2018. According to Reuters, the chief operating officer Continue Reading
West Africa’s biggest fuel consumer Nigeria will start reducing the sulfur levels allowed in fuel imports in July 2018, a year after a July 2017 deadline it had initially pledged Continue Reading
The recent judgment by the UK Appeal Court on the dispute between Shell and two Niger Delta communities underscores the need for people of the environmentally-polluted region to seek redress Continue Reading
The Nigeria Extractive Industries Transparency Initiative (NEITI), the agency tasked with cleaning up Nigeria’s murky oil industry, has said even though financial accountability has improved, the Nigerian National Petroleum Corporation Continue Reading
