Chevron Nigeria Limited (CNL) declared on Friday that reported leaks near its operational areas at Funiwa offshore facilities off the Atlantic coast was not from its...
Oil prices rose yesterday as the market expects the incoming U.S. administration to “act big” in the next COVID relief package. During the inauguration of President...
By Bolaji Ogundele, Abuja President Muhammadu Buhari will inaugurate the National Oil and Gas Excellence Centre (NOGEC), Lagos, on Thursday in a bid to boost the...
President Muhammadu Buhari will virtually inaugurate the National Oil and Gas Excellence Centre (NOGEC), Lagos, on January 21, in a bid to boost the operations of...
The Department of Petroleum Resources, DPR, Monday, disclosed that the National Oil and Gas Excellence Centre, NOGEC, designed to drive the three-pronged objectives of safety, value...
By John Ofikhenua, Abuja The Nigerian National Petroleum Corporation (NNPC) has announced a total export receipt for crude oil and gas valued at $120.49 million for...
The Nigerian National Petroleum Corporation (NNPC) has announced a total export receipt for crude oil and gas valued at $120.49 million for the month of September...
The Nigerian Navy, Forward Operating Base (FOB), Igbokoda, on Sunday, said no fewer than 24 suspected illegal oil thieves were arrested on the coastal waters in...
Fishermen operating around Atlantic Ocean near Bayelsa coastline on Sunday raised the alarm over an oil leakage suspected to be from the Funiwa oilfield operated by...
The Shell Petroleum Development Company of Nigeria Limited has announced the completion of the sale of its 30 per cent interest in Oil Mining Lease 17...
By Lucas Ajanaku Global oil demand is expected to increase by 6.56 per cent or by 5.9 million barrels per day (bpd) to an average...
Oil prices edged higher, on Thursday, after a drawdown in U.S. crude stocks for a fifth straight week and robust data from China showing a surge...
Lucas Ajanaku, Bolaji Ogundele, Abuja with agency report BRENT crude on Wednesday rose above $57 a barrel for the first time in almost a year...
Vice President Yemi Osinbajo has urged stakeholders in the oil industry to find and agree on cheaper means of producing oil in the country. Osinbajo’s spokesman,...
President of the Senate Ahmad Lawan says Nigeria will generate more revenue with the passage of the Petroleum Industry Bill (PIB). Lawan made this known while...
By Lucas Ajanaku Oil price rally fizzled out yesterday as the United States (U.S.) dollar strengthened and as China further restricted movement amid doubled new...
Our Reporter The CEO of Monimichelle Group, Ebi Egbe, has urged the Niger Delta Development Commission (NDDC) and the several oil companies operating in the...
Unknown gunmen have assassinated a Saudi Arabia based oil expert, Ogacheko Atanu, in his Idah residence of Kogi State. It was learnt that the incident...
There are indications that private investors are picking interest in domestic refining of oil with the coming on stream of two modular refineries. But there seems...
By Lucas Ajanaku Oil marketers yesterday accused the Federal Government of paying lip service to the implementation of total deregulation of the downstream oil sector, especially...
The Organisation of Petroleum Exporting Countries (OPEC) at its meeting yesterday agreed to cut production by a total of 1,775,000 barrels per day (bpd). While February...
Pandemonium as a tanker explosion rocks Oshodi/Apapa expressway, Lagos state Thursday, January 7. According to a report by the Nation, the tanker explosion occurred on both...
Exxon’s emissions from petroleum-product sales in 2019 were about the same as those for all of Canada, its data show. Exxon Mobil Corp. disclosed emissions data...
Saudi Arabia will make additional, voluntary oil production cuts of one million barrels per day in February and March as part of a wider OPEC+ deal...
Conservation groups describe the sale as a last-minute push by the Trump administration to help secure drilling rights Conservationists will try to persuade a US judge...
Asian share markets resumed their ascent on Monday as investors pinned their hope on vaccines to eventually deliver a global economic upturn, even as a possible...
Despite the stability of oil prices at $50 per barrel in recent times, the Organisation of Petroleum Exporting Countries, OPEC, has painted a mixed oil market...
Meeting comes amid uptick in prices towards the end of last year despite markets remaining uncertain. Members of the OPEC group of oil producers and their...
In the latest incident underscoring the dangers ships face in the Gulf, a mine was discovered on the hull of an oil tanker off the coast...
The non-member countries of the Organisation of Petroleum Exporting Countries (OPEC+) fully complied with the supply cuts in November that the group agreed on, two sources...
Executives from 142 oil and gas firms have predicted where the West Texas Intermediate (WTI) oil price will be at the end of next year in...
Despite the challenges of COVID-19, the oil and gas industry remains the nation’s major revenue earner, writes Muyiwa Lucas The coronavirus pandemic disrupted social and...
The brazen attack that led to the death of Iranian scientist Mohsen Fakhrizadeh has undoubtedly angered Tehran. The Iranian authorities blamed Israel for the killing and...
Oil extended gains on Thursday in light holiday trade as a drop in the U.S. stockpiles spurred demand hopes, while hints of an imminent Brexit deal...
Oil dropped towards $50 a barrel on Tuesday after rallying last week. Oil dropped towards $50 a barrel on Tuesday, adding to losses from the previous...
Oil prices fell on Tuesday, extending sharp losses overnight, as the rapid spread of a new strain of the novel coronavirus in the United Kingdom prompted...
Coronavirus and plunging oil prices have taken a huge toll on investments by oil majors across their various countries of operation. LUCAS AJANAKU reports that low...
President Muhammadu Buhari rejoices with oil and gas industry investor, Chief (Dr) Leemon Ikpea, as he turns 64 on December 19, 2020. The President notes that...
The Minister of State for petroleum Resources, Chief Timipre Sylva says the federal government is strategising to ensure efficient oil and gas sector in the post...
Lucas Ajanaku CRUDE oil prices rose on Wednesaday after the Energy Information Administration (EIA) reported a crude oil inventory decline of 3.1 million barrels for...
Taofik Salako, Deputy Group Business Editor THE Nigerian Stock Exchange (NSE) has formally effected the change of name of Japaul Oil & Maritime Services to...
The Senate on Tuesday constituted a seven-man Adhoc committee to investigate a N1.2 trillion oil revenue loss to the Federal Government owing to a breach by...
Compliance of OPEC and non-OPEC oil producing countries with the OPEC+ production cuts last month fell by two percentage points to 101 per cent, according to...
The Federal Government (FG) has approved $30million as direct lending to the Nigerian oil service providers. The sum was approved under the Nigerian Content Development and...
By Ibrahim Apekhade Yusuf and Charles Okonji with agency report Indications are that the planned divestments by oil majors from Nigeria may not bode well for...
Group managing director of Nigerian National Petroleum Corporation (NNPC), Mele Kyari has disclosed that the corporation made more money from gas than the oil industry during...
The oil production cut by the Organisation of Petroleum Exporting Countries (OPEC) and its allies OPEC+ to stabilise prices is not only hurting cash flow to...
Nigerian employees of the Anglo-Dutch oil company Shell ordered the deliberate vandalisation of oil pipelines for personal gain, a documentary in the Netherlands has reported. Dutch...
Nigeria’s crude oil revenue may have recorded a huge rebound as export earnings rose 116 percent in November against a 77 per cent decline recorded in...
Nigeria’s President Muhammadu Buhari has requested state governors to stop local rogues from sabotaging oil installations across the country. This was contained in a statement released...
The Organisation of Petroleum Exporting Countries (OPEC), says the Nigerian Crude oil export earnings rebounded by 116 per cent in November against 77 per cent in...
A file photo of a court gavel. Justice Christopher Balogun of the Lagos State High Court sitting in Ikeja has adjourned further hearing in the...
Governor of the Central Bank of Nigeria, Godwin Emefiele has stated that the country must end its dependence on crude oil for revenue and foreign exchange....
Iran is sending its biggest fleet yet of tankers to Venezuela in defiance of U.S. sanctions to help the isolated nation weather a crippling fuel shortage,...
Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has said that Nigeria must discontinue its dependence on crude oil to guarantee public revenue...
Environmental groups slam Trump administration announcement as threat to pristine wildlife area in Alaska. The Trump administration has announced plans to sell oil and gas leasing...
World’s oil producers are struggling to agree on how much crude to pump after global energy demand fell due to pandemic. Oil prices rose on Thursday...
The trial of Olatunji Amusan, Managing Director, Cast Oil and Gas, for an alleged N260 million fraud, continued on Wednesday, before Justice Oluwatoyin Taiwo...
Big oil exporters reportedly delay talks on output levels until Thursday amid disagreements on production cuts as demand remains weak. Oil prices fell on Tuesday as...
Agency Reporter energy decision makers from across the Organisation of Petroleum Exporting Country (OPEC) are scheduled to meet today in furtherance of the 23-nation network’s consideration...
Oil prices fell on Monday as markets reacted to reports that major producers disagree on how much oil to pump in the coming months. European Brent...
By Oluwakemi Dauda Despite the restriction placed by the Federal Government on palm oil importation, the inflow of the edible product has soared by 24.5...
The ISIL armed group claims responsibility for the rocket attack, which briefly halted operations at the small refinery. A rocket attack in northern Iraq has caused...
A federal high court in Lagos has jailed four persons for oil theft and ordered the seizure of a vessel involved in the crime, a statement...
The Supreme Court has dismissed an application filed by Shell Petroleum Development Company of Nigeria Limited seeking to set aside a January 11, 2019 judgement of...
A non-governmental organization, Social Action, says Nigeria’s over-reliance on oil caused another recession. Lillian Akhigbe, Communications Manager, in a statement on Thursday, noted that successive governments...
Global oil prices hit the highest leve since March on Tuesday, rising above $47 per barrel (pb) as hopes for a COVID-19 vaccine rollout within weeks...
BREAKING Blast off the coast of Shuqaiq near Yemen border hits a Maltese-flagged, Greek-managed vessel. An explosion has damaged an oil tanker off the coast of...
The Safer tanker repair mission is meant to prevent a potential oil spill that could severely harm Red Sea ecosystems and shut Yemen’s Hodeidah port. Houthi...
The Nigerian Navy has handed over four suspected oil thieves to the Economic and Financial Crimes Commission (EFCC) in Rivers State. They are Ebenezer Afonka (captain),...
Shell Petroleum Development Company (SPDC) and Nigerian Agip Oil Company (NAOC) oil facilities have been rocked by a fatal explosion at Ikarama community, Yenagoa local government...
A combination of photos of the foreigners and Nigerian sentenced by the court in Rivers State on November 23, 2020. The Federal High Court sitting...
The country’s economy shrinks two quarters in a row amid contraction in its oil sector. Nigeria has slipped into a recession after its gross domestic product...
The Nigerian National Petroleum Corporation (NNPC) on Friday disclosed that the crude oil found in the Benue Trough is in commerical quantity. Recall that the corporation...
The Nigerian National Petroleum Corporation (NNPC) has discovered crude oil in the Benue Trough. The channel is a major geological structure underlying a large part of...
Juliana Agbo, Abuja NIGERIA is currently spends about $500 million annually on oil palm imports, stakeholders in the agricultural sector have said. The stakeholders who...
Our Reporter Nigeria needs to achieve a unit operating cost of $10 per barrel to be able to maximise more revenue from oil, Group General Manager...
The Minister of State for Petroleum Resources, Chief Timipre Sylva, on Wednesday inaugurated the 8,400 Metric Tonnes (MT) capacity Liquified Petroleum Gas (LPG) terminal built by...
Following the continuous detention of the Imo House of Assembly lawmaker representing Ohaji-Egbema State Constituency, Cyriacus Okoro Heclus over alleged assault, his constituents have taken to...
From John Ofikhenua, Abuja The Managing Director, Total Exploration and Production Limited, Mr. Mike Sangster yesterday said no major investment decision was taken in deepwater...
Saudi Energy Minister Abdelaziz bin Salman said on Tuesday that major oil countries might have to adapt their current production strategy in the face of the...
The Patrons Association of Imo Oil Producing Communities (PIOPC) has urged the Inspector-General of Police, Mohammed Adamu, to intervene in the arrest and detention of a...
Experts from Singapore, the US and Canada helped in dousing the blaze in Assam state that left at least three people dead. An enormous oil well...
By Raymond Mordi GIVEN the revenue shortfall currently facing the country, the Federal Government has been enjoined to expedite action to unravel those involved in...
As many countries are proposing to ban the use of fossil fuels and the world is transitioning from oil, stakeholders say one major sector that can...
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) on Wednesday said a meeting it held with the Federal Government was inconclusive. The President,...
The Minister of State for Environment, Sharon Ikeazor, has barred an oil and gas firm from mobilising to an exploration site in Anambra State over failure...
Nigeria might face the scarcity of Premium Motor Spirit, popularly called petrol, in coming days as oil workers have been ordered to down tools across the...
Scarcity of Premium Motor Spirit (PMS), aka petrol may hit Nigeria soon. On Monday, oil workers commenced a nationwide strike. The order was given by the...
An Ibadan Chief, Oloye Taofeek Adegboyega Adegoke has declared that it is dangerous for Nigeria to rely on oil and gas as the only source of...
Oil edged lower as investors awaited the outcome of the tightly contested U.S. presidential election, with Joe Biden on the brink of claiming a victory. Futures...
Minister of State for Petroleum Resources, Timipre Sylva, says the Nigerian National Petroleum Corporation (NNPC) is set to resume oil exploration in the Lake Chad Basin....
The Minister of State for Petroleum Resources, Chief Timipre Silva, says the Nigerian National Petroleum Coorporation (NNPC) will soon resume oil exploration and drilling in the...
The GNPC Foundation says it is spending $4 million in four Ghanaian universities over four years and also training 4,000 youth to serve as the next...
Saudi state oil giant says it will maintain its quarterly dividend payment of $18.75bn, most of which goes to the government. Saudi Arabian state oil group...
With many countries proposing ban on use of fossil fuels, and the world transitioning from oil, Dr. Bashir Jamoh says maritime offers Nigeria a bounteous substitute...
In the oil & gas servicing sector where she holds sway as Acting General Manager, Contracts & Procurement, Neconde Energy Limited, Mrs. Gracetiti Fredson has prioritised the...
Deputy President of the Senate, Senator Ovie Omo-Agege has appealed to members of the Reformed Niger Delta Avengers (RNDA) to halt its planned attacks on oil...
The Economic and Financial Crimes Commission (EFCC) has filed an additional proof of evidence against Malabu Oil & Gas. It was tendered before Justice I. E....
The Economic and Financial Crimes Commission, EFCC, on Tuesday, October 27, 2020 filed additional proof of evidence against Malabu Oil & Gas Limited before Justice I.E....
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