By Udeme Akpan THE Organisation of Petroleum Exporting Countries, OPEC, has put the global oil demand at 4.2 million barrels per day, mb/d as new Omicron COVID-19 variant continues to impact on the oil market. This was even as the price of Nigeria’s Bonny Light, which had risen to $85 per barrel in the fourth […]

By Charles Kumolu On November 5, last year, oil spill was recorded at OML 29 Well 1Platform in Nembe, Bayelsa State. The impact of the incident, which led to nationwide outrage, affected dozens of nearby fishing settlements along the Nembe coastline and the Santa Barbara River which meanders through the Niger Delta before emptying into […]

By Obas Esiedasa – Abuja The Minister of State Petroleum Resources, Chief Timipre Sylva has predicted that 2022 will be a great year for the oil and gas industry in Nigeria following the enactment of the Petroleum Industry Act 2021. Chief Sylva in his New Year Message also stated that 2022 will be better than […]

WITH the coronavirus pandemic, unstable oil supplies and uncertainty that held sway in the volatile global oil market, the year 2021 was challenging to oil and gas producing and exporting countries, including Nigeria. The situation was also worsened by pipeline vandalism, oil theft, illegal refining and environmental pollution.

By Ediri Ejoh PIPELINE vandalism, sabotage and other factors have culminated in the shutdown of eight oil terminals, according to data obtained from the Nigerian National Petroleum Company Limited. The eight oil terminals, including Forcados, Bonny, Odudu, Brass, Yoho, Urha, Ajapa and Aje, were shut between August and October, 2021, leading to losses and deferred crude […]