Oil and Gas
OML 25: SPDC, Belema signs dispute closure agreement
The Nigerian National Petroleum Corporation (NNPC) with its joint venture partners, Shell Production Development Company (SPDC) and Belema Oil, have resolved the…
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Oil and Gas
Oil and Gas
LPG usage hit 78, 000 mt in July – PPPRA
The Petroleum Products Pricing Regulatory Agency (PPPRA) says that the utilisation of liquefied petroleum gas (LPG), also known as cooking gas, has…
Oil and Gas
U.S. overtakes Saudi Arabia as top oil exporter – IEA
Global oil demand is weathering economic headwinds, the International Energy Agency (IEA) said on Thursday, buoyed by lower prices brought on by…
Oil and Gas
NLNG names SCD group preferred bidder for train 7 project
The Nigerian Liquefied Natural Gas (NLNG) has announced SCD Group, a Joint Venture consortium comprising Saipem, Daewoo and Chiyoda, the preferred bidder…
Oil and Gas
OPEC cuts 2020 oil demand forecast
Organisation of Petroleum Exporting Countries OPEC, has cut its forecast for growth in world oil demand in 2020 due to an economic…
Oil and Gas
Zainab Ahmed puts 2020 budget benchmark on $55 per barrel, projects excess crude supply
Finance minister Zainab Ahmed said there were “strong indications” of an oversupplied oil market next year and lowered price expectations for Nigeria's…
Oil and Gas
Oil rises as Saudi signals OPEC cuts to continue
Crude oil prices rose on expectations that Saudi Arabia, the world’s largest oil exporter, will continue to support output cuts by OPEC…
Oil and Gas
NNPC to grow domestic gas use to 5bcf per day by 2022
The Nigerian National Petroleum Corporation (NNPC) says it will grow the domestic gas use in-country to five billion cubic feet of gas…
Oil and Gas
U.S. judge rejects Exxon, Shell application to restore $1.8bn arbitration award against NNPC
A U.S. judge has rejected Exxon Mobil Corp’s and Royal Dutch Shell Plc’s effort to revive a $1.8 billion arbitration award against…
Oil and Gas
Kyari reiterates commitment to transparency in NNPC operations
The Group Managing Director of the Nigeria National Petroleum Corporation (NNPC) Malam Mele Kyari has reiterated his commitment to ensuring transparency and…
Oil and Gas
Nigeria loses 22mb of crude oil in 6 months – Gov. Obaseki
Edo Governor, Godwin Obaseki said the nation lost about 22 million barrels of its crude oil production to oil theft between January…
Oil and Gas
NNPC begins repair of damaged pipeline in Delta
Malam Mele Kyari, the Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC) says the corporation has begun repair of its damaged…
Oil and Gas
Nigeria loses 22mb of crude oil in 6 months – Gov. ObNigeria loses 22mb of crude oil in 6 months – Gov. Obasekiaseki
Edo Governor, Godwin Obaseki said the nation lost about 22 million barrels of its crude oil production to oil theft between January…
Oil and Gas
Trump calls for OPEC to boost oil production, says price too high Auto Draft
U.S. President Donald Trump on Thursday called for the Organisation of the Petroleum Exporting Countries (OPEC) to boost oil production to lower…
Oil and Gas
FG to harmonise production in oil sector
The Federal Government has set up a committee to harmonise oil and gas revenue and production data of government earnings from all…