OIL AND GAS

Nigeria’s crude oil export appreciated by 17.38 per cent to N7.308 trillion in the first six months of 2018 from N6.226 trillion recorded in the last six months of 2017, …

Nigeria’s oil exports will reach their highest in six months in November, led in part by an increase in supply of the country’s four largest crude grades, according to loading …

The Federal Government on Wednesday disclosed plans to unveil the first modular refinery in the country in the first week of November. The refinery, owned by Niger Delta Petroleum Resources, …

Among the major challenges of any manufacturer is keeping costs to the barest minimum and especially ranging from cost of diesel and unnecessary expenses through sharp practices. IT solution and …

… Says FG is Addressing the NLC Planned Industrial Action The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has appealed to motorists and other …

Oil prices jumped more than two per cent to a four-year high on Monday after Saudi Arabia and Russia ruled out any immediate increase in production. The refusal by OPEC …

Spot trade remained fairly slow on Monday, as a major industry event in Asia kept activity in Nigerian cargoes subdued, and traders reported little in the way of offers. At …

Ghana Revenue Authority GRA claims that Oranto Petroleum, the Nigerian owned E&P company, “has been located in Angola and Mozambique”. This “revelation” is in response to a declaration that the …

The first of the two wells scheduled to set off another round of drilling in Namibia, has come up as a duster. Tullow Oil operated Cormorant-1 exploration well on Petroleum …

The Organisation of Petroleum Exporting Countries (OPEC) has said the average price of its members’ crude grades (OPEC Basket) rose by 70 per cent in two years to $73.27 per …

Indications emerged yesterday that the sale of Nigeria crude oil in the international market is currently facing challenges which may lead to lingering glut due to surging production of United …

Crude oil futures climbed wednesday, with Brent reaching $80 per barrel, after a larger-than-expected drop in United States crude inventories and as US sanctions on Iran added to concerns over …

Demand for Nigerian grades through various tenders this week has helped push diffs higher. A number of refiners have taken cargoes of Nigerian grades, largely Qua Iboe and Agbami, through …

The Department of Petroleum Resource (DPR) has explained the causes of adulteration of different petroleum products that are used as fuels. Speaking on the DPR Half Hour on Radio Nigeria, …

Upcoming elections in oil producing states Nigeria and Libya may add a new twist to a familiar theme for OPEC. The oil exporting group’s strategy has repeatedly been adapted to …

The Governor of Edo State, Mr. Godwin Obaseki, is finalising investment decisions with partners in China for the development of the Edo Modular Refinery, Benin River Port and the Benin …

The National Bureau of Statistics (NBS) said 165.71 million litres of Liquefied Petroleum Gas (LPG) was imported into the country in the second quarter of 2018. The NBS disclosed this …

The Managing Director, Shell Petroleum Development Company (SPDC), Mr. Osagie Okunbor, has described the lengthy contracting process in the oil and gas sector as the major blight stunting its growth. …

Equinor sees scope to further reduce development costs at the Johan Sverdrup oilfield in the North Sea, as it looks to maximise the potential of what could be the last …

Benchmark Brent crude oil was down 40 cents a barrel at $74.38 by 1330 GMT. U.S. light crude was 40 cents lower at $67.46. “The bullish afterglow of yesterday’s drop …

The Federal Government has been urged by groups to make constitutional provision that will guarantee automatic savings of surplus from oil revenue in the Excess Crude Account, ECA. The groups, …

In sub-Saharan Africa, Nigeria leads with 10 planned oil and gas projects expected to start operations between 2018 and 2025, followed by Mozambique with two projects. In terms of announced …

Brent crude led oil prices higher, extending gains into a third day after Saudi Arabia suspended crude shipments through a strategic Red Sea shipping lane and as data showed U.S. …

 The Department of Petroleum Resources, DPR, has said it approved 16 new oil and gas fields’ development plan, FDP, in 2017. According to a document obtained from the agency on …

Nigeria and other oil producing countries across the world will expend about $105b on decommissioning in the next 10 years. According to a recent report release by Wood Mackenzie otherwise …