Oil and Gas

EFCC- N328.9bn Debts Recovered from Petroleum Marketers

August 10, 2017 0

The Economic and Financial Crimes Commission (EFCC) said it had recovered over N328.9 billion out of N349.8 billion debts from nine major petroleum marketers within

Government vows to stop oil production if cost remains high

August 3, 2017 0

International Oil Companies (IOCs) and their indigenous counterparts may soon be forced to halt operation, due to constant high cost of producing a barrel of

NNPC- West African Gas Pipeline moved to Cote d’Ivoire

August 3, 2017 0

On Wednesday,he Nigerian National Petroleum Corporation, stated that the West African Gas Pipeline (WAGP) would be extended from Ghana to Cote d’ Ivoire. The planned

Forte Oil, Oando,Total MDs quizzed by EFCC, ‘recovers’ N329bn debt

July 26, 2017 0

Managing directors of nine major oil companies, including Forte Oil, Oando and Total were quizzed by the Economic and Financial Crimes Commission (EFCC) and  it

“Catastrophe” – Shell shuts down key supply pipeline in Nigeria

July 26, 2017 0

On Tuesday, Anglo-Dutch energy giant Shell said; because of a leak, it has shut down a major crude supply pipeline in Nigeria’s restive south Shell

Open Market Price Of Petrol Now N148.16

July 14, 2017 0

The Nigeria’s downstream petroleum industry lost about N884.8 million in seven days to the high cost of importing Premium Motor Spirit (PMS), also known as

Forcados pushes Nigeria’s crude production to one-year high

June 15, 2017 0

Nigeria’s crude oil production has hit one-year high, according to a report released by the Organisation of Petroleum Exporting Countries (OPEC). The report attributed the

USA Oil Exports And Unstable Oil Prices, Affect Nigeria’s Economy

June 14, 2017 0

*Shale production could reach all-time high in 2017 Nigeria’s oil economy is living on borrowed time, as the global market, especially the United States (U.S.),

South Sudan Boosts Oil Output, Targets 350,000 bpd Peak By Mid-2018

June 6, 2017 0

South Sudan will drill 30 new wells this year and significantly boost oil output as it chases a peak 350,000 barrels a day target by

Egypt Allocates $8 bln For Fuel Subsidies In FY 2017-18 Budget

June 6, 2017 0

Egypt has allocated 145 billion Egyptian pounds ($8 billion)for fuel subsidies and 80 billion pounds for electricity subsidies in its budget for the 2017-18 fiscal

South Africa’s Petrol, Diesel Pump Prices To Fall In June

June 5, 2017 0

The retail price of petrol and the wholesale price of diesel in South Africa will fall from June 7, the energy department said on Saturday.

Barkindo Insist Nigeria Need Not To Cut Oil Output

June 2, 2017 0

The Secretary-General of the Organisation of Petroleum Exporting Countries, Dr. Mohammed Barkindo, has said it is too early to say when production caps should be

Mobil Oil Increases Profit By 67%

June 1, 2017 0

Mobil Oil Nigeria Plc has recorded a profit after tax of N8.15 billion in 2016, representing a 67 per cent increase from the N4.87 billion

Senate Asks FG To Stop P’Harcourt Refinery Concession

May 31, 2017 0

The Senate on Tuesday asked the Federal Government to suspend all processes leading to the concession of the Port Harcourt refinery to Agip and Oando

Oil Producing States Shared N20.62b In February

May 30, 2017 0

Oil producing states in Nigeria shared N20.62billion as 13 per cent Derivation Fund, according to the Central Bank of Nigeria (CBN).The CBN in its latest

Nigeria Oil Governance Bill Aims To Break Up State Oil Company NNPC

May 27, 2017 0

The long-awaited oil governance bill passed by Nigeria’s upper chamber of parliament proposes breaking up the state oil company into three commercial entities supported by

OPEC Extends Oil Output Cut By Nine Months To Fight Glut

May 26, 2017 0

OPEC decided on Thursday to extend cuts in oil output by nine months to March 2018, OPEC delegates said, as the producer group battles a

Kaduna, Chinese Firm Sign Pact For New Refinery

May 26, 2017 0

The Kaduna State Government has signed a pact with a Chinese firm to build a new 50,000 barrels per day refinery in the state. The

APC, NUPENG, PENGASSAN hail As Senate Passes Petroleum Governance Bill 14 years after

May 26, 2017 0

The Senate on Thursday passed the Petroleum Industry Governance Bill, which seeks to unbundle the Nigerian National Petroleum Corporation and merged its subsidiaries into a

We’ll Join OPEC Output Cuts Until Our Production Is Back At Acceptable Level, Says Minister

May 25, 2017 0

Nigerian Oil Minister Emmanuel Ibe Kachikwu said on Thursday that conceptually Nigeria was not opposed to joining OPEC production caps but would have to wait

Equatorial Guinea Approved As Latest OPEC Member

May 25, 2017 0

Africa’s third-biggest oil producer, Equatorial Guinea, has been accepted as a new member of the Organisation of the Petroleum Exporting Countries (OPEC), a source close

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