Oando grows half year revenue to N2.1trn
Oando Plc has recorded a 20 per cent increase in revenue to N2.1 trillion for the half-year ended June 30, driven by higher crude oil production, improved operational efficiency and cost optimisation.
OPEC takings from oil and gas exports hit $1 trillion
OPEC’S annual revenues from oil and gas sales topped $1 trillion last year for the first time, according to figures published yesterday by the cartel.
Labour lauds Senate over Petroleum Industry Bill
TRADE Union Congress of Nigeria (TUC), has expressed happiness over the progress of the Petroleum Industry Bill in the senate, saying that with the second reading of the Bill there is hope that Petroleum Industry Bill and the passage Gas Flaring Prohibition Act would be passed before the end of 2009.
Sudan Oil Production to Reach 922,000 bpd in 2013
SUDAN would increase its crude oil output by 400,000 barrels a day within three to four years thanks to improved oil-extraction technique, said Sudan’s state oil firm (Sudapet) today.
OPEC faces blame over price drops
AS oil prices roller-coastered from record highs near $150 per barrel a year ago down to $35, many pointed fingers at traditional scapegoats OPEC and oil sheiks synonymous with the group.
Kidnapping: A crime against humanity
THE oil politics of Nigeria is as aggravating as it is comical. The Babangida government magnanimously gave back 4% of revenue accruing to oil sales and in the present 1999 Constitution the figure was increased to 13%.
