A Lagos Federal High Court has dismissed an application filed by Diezani Alison-Madueke, former Minister of Petroleum Resources, that she be joined as a defendant in an alleged N450m fraud Continue Reading
Most of next year’s budget for Australian energy company FAR Ltd. will focus on Senegal, where Cairn Energy serves as the operator. The majority of the budget for 2018 will Continue Reading
Oil spill victims under the aegis of Oil Spill Victims Vanguard (OSPIVV) have initiated a lawsuit in the United Kingdom against Shell Nigeria Exploration and Production Company (SNEPCO), a subsidiary Continue Reading
Chad is on a collision course with top creditor Glencore as it wants to divert oil from the Swiss trading house to U.S. energy company ExxonMobil from the new year Continue Reading
The Nigerian government has disclosed that 26 firms have shown interest in the plan to overhaul the nation’s oil refineries. The Minister of State for Petroleum Resources, Ibe Kachikwu, made Continue Reading
OPEC’s newest member country, Equatorial Guinea, is seeking to lift its crude production after smaller oil companies acquired stakes in offshore oil fields operated by U.S. Hess Corporation, Equatorial Guinea’s Continue Reading
Researchers from the University of Sankt Gallen have found that neonatal mortality rises if a child’s mother lives close to an oil spill before conception. Niger Delta resident Annkio Briggs Continue Reading
Shell Nigeria has lifted the latest force majeure off its Bonny Light exports, which was introduced a month ago after a leak was discovered in one of the two pipelines Continue Reading
The Senate said on Thursday that it had began talks with Russian oil companies for partnership to develop Nigeria’s oil and gas sector. Disclosing this in an interview with newsmen Continue Reading
Barely two days after Aiteo Eastern Exploration and Production Company announced the completion of repairs of the Nembe Creek Trunkline (NCTL), Shell Petroleum Development Company (SPDC) thursday lifted force majeure Continue Reading
The technical partner of the Lagos Deep Offshore Logistics Base (LADOL), in the building of $3.8 billion Egina oil production vessel at LADOL’s Free Zone, Samsung Heavy Industry (SHI), has Continue Reading
When OPEC agreed to exempt Nigeria from its oil production-restraint deal last year, it knew the country faced a huge challenge in recouping output lost due to militant unrest. A Continue Reading
African Petroleum said its looking to international arbitration to protect its assets off the coast of Gambia. After hinting of trouble earlier this week, African Petroleum said it was now Continue Reading
African Petroleum upbeat about its prospects despite a series of setbacks with its West African portfolio. Photo courtesy of African Petroleum. Oct. 16 (UPI) — Some of the more promising Continue Reading
The Federal Government has ruled out the possibility of building new refineries to compliment the four existing ones in Nigeria.The Minister of State for Petroleum Resources, Ibe Kachikwu, who made Continue Reading
The competition that Nigerian crude oil cargoes has faced from US crude oil grades in Northwest Europe over the past two years has begun to expand into other regions, according Continue Reading
Bayelsa, a state in the Niger Delta region of Nigeria, will search for non-oil natural resources to diversify away from its main commodity—oil. This is what the state’s new commissioner Continue Reading
French energy company Total said Monday it was expecting a big oil pay off from the under-explored deep waters off the coast of the Republic of Guinea. The company signed Continue Reading
French oil giant Total signed an agreement on Friday with Guinea’s national oil company ONAP to carry out seismic mapping of deep and ultra-deep offshore blocks with an option to Continue Reading
I recently reported on the development of economic diversification plans among countries in the Gulf Cooperation Council (GCC) as oil demand prepares to reach a climax in 30 years. Nigeria, Continue Reading
Cape Town — Diezani Alison-Madueke, served under former president Goodluck Jonathan from 2010 to 2015 and was Nigeria’s first female minister of petroleum resources. She has been accused of corruption Continue Reading
State-owned Nigerian National Petroleum Corporation expects the force majeure on Nigeria’s Bonny Light crude to be lifted “very soon,” Mele Kyari, group general manager of NNPC’s crude oil marketing division Continue Reading
The slow pace of talks between the Nigerian government and representatives from the Niger Delta—exacerbated by the impending 2019 elections—have frustrated the militants who prompted the negotiations, causing oil majors Continue Reading
It may assault sensibilities of some people to insinuate that Nigerians will have to drink their oceans of oil, as it may be unscientific to suggest that the resource will Continue Reading
Nigerian oil production remains below 1.8 million barrels per day, in compliance with a quota set on the African nation by OPEC earlier this year in response to its explosive Continue Reading
Nigeria may be ready to give up its status as an OPEC member exempt from the effort to balance the market with production cuts, Russia’s oil minister said. Members of Continue Reading
Nigerian fuel truck drivers have begun a strike, their union said Wednesday, triggering fears of a fresh shortage of oil products. In addition to seeking a pay rise and a Continue Reading
Oil workers in Nigeria stopped on Monday the loading of oil products, natural gas, and aviation fuel as the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) joined an Continue Reading
An average of 700,000bpd of crude oil was deferred in 2016 due to pipeline sabotage, this brought Nigeria’s production down to as low as 1.3 million barrels per day from Continue Reading
Wednesday . The Kaduna , Warri and Port Harcourt refineries will shutter to allow the national oil company to return refining capacity to their nameplate levels, NNPC managing director Dr. Continue Reading
Although it faces mounting pressure to join OPEC’s production cuts, exempt producer Nigeria will resist any attempt to cut its oil output because it needs time at least until March Continue Reading
A coalition of militants in the Niger Delta who had previously vowed to attack Nigerian oil and gas pipelines if their demands were not met by October 1 st , Continue Reading
Federal Government’s plans to increase crude oil production to four million barrels daily (bpd) will receive a boost, as the multi-billion dollar Egina Floating Production Storage and Offloading (FPSO) vessel, Continue Reading
The federal government is currently counting significant losses arising from demurrage paid by vessels which bring in imported petroleum products into the country. Available statistics shows that the country pays Continue Reading
The Nigerian subsidiary of Royal Dutch Shell said Wednesday that hundreds of thousands of new barrels of product are expected from a project in the Niger Delta. Shell said it Continue Reading
How the roles have reversed: The colonizer, some Portuguese contend, has been colonized. On the Portuguese coast of Cascais, where the nation’s royal court used to summer, a new 14-story Continue Reading
The Minister of State for Petroleum Resources, Ibe Kachikwu, has decried the high cost of oil production at 32 dollars per barrel, saying it makes cost of Foreign Direct Investment Continue Reading
The Nigerian National Petroleum Corporation (NNPC) said yesterday that the country has saved a minimum of $3billion per annum by cutting the cost of crude oil production from $78 dollars Continue Reading
Protesters on Tuesday dragged the shutdown of a Shell crude oil facility in the Niger Delta into its fifth day, after storming the flow station demanding jobs and infrastructure development Continue Reading
Former illegal oil refiners in Rivers State have vowed to continue in their illegal dealings in petroleum products until the Federal Government provides them with empowerment. The artisanal refiners, who Continue Reading
Hundreds of Nigerians stormed on Friday a Shell-owned crude flow station that feeds the Bonny export terminal, protesting against lack of jobs and demanding infrastructure development, according to a Reuters Continue Reading
The Nigerian government will make illicit refineries operating in the Niger Delta legal, and will even supply them with crude oil, the presidency announced yesterday. The legalization process will take Continue Reading
Nigerian National Petroleum Corp said Thursday it had agreed new funding arrangements with four foreign partners to develop new oil fields in the Niger Delta that will substantially increase Nigerian Continue Reading
Shell Petroleum Development Company has disclosed that its operation is still threatened by insecurity in the Niger Delta. The company indicated in its latest report that crude oil theft, sabotage Continue Reading
International Oil Companies (IOCs) and their indigenous counterparts may soon be forced to halt operation, as the cost of producing a barrel of crude oil remains high. The Minister of Continue Reading
After trading at over U.S.$100 per barrel for some years, the price of oil began to tomble down around July, 2014, falling to below U.S.$30 per barrel. The collapse of Continue Reading
More than 50 people were killed in a Boko Haram ambush on an oil exploration team in northeast Nigeria earlier this week, multiple sources told AFP news agency on Thursday, Continue Reading
Nigerian media reported Thursday the federal government opted to halt crude oil exploration in part of the Niger Delta because of heightened security concerns. Militants struck a crude oil pipeline Continue Reading
Nigeria is now saying that “era of oil booms” may be over—for good. According to its national petroleum policy approved this week by the federal executive council, the country plans Continue Reading
Nigerian crude oil production was lowered following a militant tank on an oil pipeline, the state oil company said. File photo by vanhurck/Shutterstock July 25 (UPI) — A militant attack Continue Reading
