Saudi Aramco reports 20.6 per cent drop in 2019 profit
Saudi Aramco on Sunday reported a 20.6 percent drop in its net profit for 2019 due to low oil prices and production levels, the company said in a statement. These are the first annual results to be announced by the energy giant after its historical $29.4 billion initial public offering and listing on the Saudi […]
Crude Oil Theft: NEITI calls for review of legislation, use of technology
Gov Obaseki urges FG to lease pipelines As NNPC suffers brunt with 45, 347 pipeline vandalism incidents By Gabriel Ewepu – Abuja The Nigerian Extractive Industry Transparent Initiative, NEITI, Tuesday, called for a review of legislation and use of sophisticated technology in the oil and gas sector to reduce vandalism of pipelines, crude oil theft […]
CRIES FROM DELTA CREEKS: Otuaro, Dep Gov in dilemma over security agents burning crude oil
DEPUTY Governor of Delta State, Deacon Kingsley Otuaro, is in a tight spot over the rampant manner security agents, both Army and Navy personnel, set ablaze crude oil and barges impounded from oil thieves and discharge the contents into the river, oblivious of the danger to residents of riverine communities.
BURNING OF CRUDE OIL: Waterborne diseases hit Delta oil communities
ACTIVISTS in Delta State, weekend, raised a fresh alarm that waterborne diseases have erupted, leading to water scarcity in many riverine communities in the state, while inhabitants are at the mercy of windstorm, following alleged burning of impounded crude oil, barges and forests by security agents.
Oil rises as data shows surprise drop in U.S. crude inventories
Oil rose on Thursday after industry data showed a surprise drop in U.S. crude inventories, while comments from an OPEC official about lower-than-expected U.S. shale production growth in 2020 also provided some support. Prices, however, were capped by mixed signs for oil demand in China, the world’s biggest crude importer, as industrial output rose more […]
Local Content ”ll cut Nigeria’s crude production cost – Sylva
The Federal Government will deepen the implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act because it is an effective strategy for lowering Nigeria’s high crude oil production cost, the Minister of State for Petroleum Resources, Chief Timpre Sylva has said.
