Oil prices on Monday clawed back some losses from a nearly 8 percent plunge on Black Friday, with Brent jumping back above $60 per barrel.Read More
The Vice President, Professor Yemi Osinbajo (SAN), accompanied by Lagos State Governor, Mr Akinwunmi Ambode and the All Progressives Congress (APC) Governorship candidate in the State, Mr Babajide Sanwo-Olu on Monday launched the The Federal Government special enterprise and empowerment programme otherwise known as TraderMoni in three additional markets in Lagos.Read More
WITH the making of a commercial oil find in 1956, there were strong indications that the International Oil Companies, IOCs would dominate Nigeria’s oil and gas industry for some reasons. First, the IOCs had the technology and other resources to invest in exploration and production of oil and gas. Second, their indigenous counterparts were not visible then.Read More
THE Department of Petroleum Resources (DPR) has approved the ATC license for the construction of 5,000 bpd modular refinery to Ikwe-Onna Refinery project located in Akwa Ibom State.Read More
THE operations of Eroton Exploration & Production Company Limited, currently producing 30,000 barrels per day, bpd from Oil Mining Lease, OML 18 have been threatened as Buguma, Bille and other neighbouring communities have emerged as major strongholds for illegal refineries in Rivers state.Read More
Crude oil is one of the best commodities to trade. It is a very active market and it is well known with investors around the world. There is usually no shortage of news to cause the price of oil to move from day to day.Read More
THE management of 11Plc (formerly Mobil Oil Nigeria Plc), has frowned at the influx of adulterated lubricants into Nigeria’s domestic market, saying the market deserves high quality products.Read More
THE President of the Nigeria Gas Association, NGA, Dada Thomas, yesterday blamed the current gas pricing, lack of certainty of contracts and infrastructural deficit to crisis rocking the country’s power sector.Read More
Oil and non-oil waste constitute serious problems in petroleum bearing communities. In this interview with Udeme AKPAN, Mr. Yolo Bakumor, Managing Director, Bayelsa State-based De-Rabacon, the winner of the maiden Shell Outstanding Achievement Prize in the 2018 Shell LiveWIRE Top Ten Innovators Awards, comments on a wide range of issues, including the need for increased plastic recycling.Read More
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, according to data obtained from the National Bureau of Statistics (NBS).Read More
Contrary to the Lagos Deep Offshore Logistics Base, LADOL, allegation that it jointly tendered with Samsung Heavy Industries, SHI, for Total’s $3.3 billion Floating Production Storage and Offloading (FPSO) contract, SHI, has disclosed that the contract was awarded to Samsung Heavy Industries Nigeria, SHIN.Read More
ExxonMobil has disclosed that through the Power Forward project, it would continue to pursue programmes that would bring about youth development and build human capacity across critical sectors of the Nigerian economy.Read More
THE Minister of Mines and Steel Development, AbubakarBwari, disclosed that Nigeria spends N16 billion ($44.5 million) on imported industrial minerals yearly to carry out production in the solid minerals sector.Read More
INVESTORS need to invest $11 trillion in oil and gas between now and 2040 in order to meet rising demand in many nations.
In his keynote address at the just concluded meeting in Madrid, Spain, HE Mohammad Sanusi Barkindo, OPEC Secretary General, said, “To meet the expected global expansion will require huge investments.
THE Nigeria Gas Association, NGA, said the country has reduced gas flaring from two billion cubit fit per day to 700 million cubits fit per day, indicating 65percent improvement in the last 10 years.Read More