Barely a few days to the end of the year, the price of Nigeria’s Bonny Light has stabilised at $50 per barrel in the international market, about 25 percent above the 2021 budget benchmark of $40.

Seplat Petroleum Development Company Plc, has signed a Crude Purchase Agreement (CPA) with Waltersmith Petroman Oil Limited.

By Gabriel Ewepu The Chairman, Oilserv Nigeria Limited, Engr Emeka Okwuosa, has assured completion of section one of Ajaokuta-Kaduna-Kano, AKK, gas pipeline project as stipulated in agreement with the Federal Government. Okwuosa stated this during an inspection carried out section one of the project which is from Ajaokuta to Abuja by the Minister of Finance, […]

By Prince Okafor The Managing Director of the Nigerian Petroleum Development Company (NPDC), Mr Mansur Sambo, says the company is the largest supplier of the domestic gas in the country. Sambo disclosed this while fielding questions from newsmen after a facility tour of the NPDC Integrated Gas Handling Facility (IGHF) in Ologbo, Edo, on Monday. […]

By Udeme Akpan The supply of Liquefied Petroleum Gas, LPG, also known as cooking gas, has increased to 793,000 metric tonnes, MT in the first 11 months of 2020. Information available to Energy Vanguard showed that domestic supply stood at about 793,000 metric tonnes, MT in the first 11 (January-November) months of 2020, an increase […]

*Says no cause for alarm By Udeme Akpan The Nigerian National Petroleum Corporation (NNPC) has commenced the rehabilitation of the broken gas pipeline along Lagos-Ibadan Expressway. In a statement obtained by Vanguard, the NNPC spokesperson, Dr Kennie Obateru, urged members of the public to go about their duties normally as all safety measures have been […]

By Prince Okafor The management of Shell Petroleum Development Company of Nigeria, SPDC, has disclosed that it does not have any formal report of its staff members or contractors involved in pipeline vandalism and crude oil theft. This is coming against the backdrop of a research conducted by Dutch Environmental Group, Milieudefensie, at Ikarama, a […]

***As Bonny Light price hovers at $49 per barrel By Udeme Akpan, Ediri Ejoh & Prince Okafor Nigeria might be under pressure to fund its N13.8 trillion 2021 budget following a significant drop of its oil output by 14.08 percent in the first 10 months of 2020, according to data obtained from the Organisation of […]

Rainoil Limited, an integrated oil and gas company operating in the downstream sector, has won the 2020 Downstream Company of the Year Award at the Nigerian Business Leadership Awards (NBLA) 2020 hosted by Businessday Newspapers.

By Udeme Akpan & Prince Okafor Nigeria has recorded a significant 19.3 per cent decline in the level of oil exploration in the first 10 months of this year, a development which may be threatening the Federal Government’s plan to restore growth in crude oil reserves. Data from the Organisation of Petroleum Exporting Countries, OPEC, […]

By Udeme Akpan As Nigeria continues to battle with massive unemployment and other challenges, there are indications that the Autogas and AutoCNG initiative will create over 500,000 jobs, thus assisting the nation to come out of its current recession. In an interview with Energy Vanguard, weekend, marketing manager, Flash Gas Limited, Mr Kayode Oluwadare, said: […]

By Udeme Akpan The introduction of gas-fired city buses as part of autogas initiative would save $2.5 billion yearly for Nigeria, currently struggling to come out from its worst recession ever. In an interview with Energy Vanguard, managing director, Powergas, Mr Sumeet Singh, said: “The introduction of the gas-fired city buses is estimated to save […]

***Gas flaring dips by 23.8% to N379bn in 10 months By Michael Eboh As the age-long battles over gas flaring in Nigeria’s oil industry seem intractable, a total of $1 billion, about N379 billion, has been recorded as the cumulative value of gas lost to the recorded incidents in 10 months of this year. The […]

By Ediri Ejoh Vice President Yemi Osinbajo, is set to lead global industry leaders drawn from the Americas, Europe, Asia and Africa at the Nigeria Liquefied Petroleum Gas Association (NLPGA) 10th International LPG Conference themed; “LPG: Pivoting Economic Recovery for Households and Industries in Nigeria and Africa”. In a statement obtained by Vanguard, the NLPGA, […]

By Prince Okafor Nigeria’s active rig count has dropped significantly by 30 per cent to seven in October 2020 as against 10 recorded in the previous month. The rig count is a reflection of the level of exploration, development, production and general activities taking place in the petroleum sector. This shortfall is coming at a […]