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Oil And Gas
Get the latest news in the Oil and Gas industry from Nigeria and across Africa.
Our coverage includes exploration, production, drilling, oil and gas companies, training and more.
COVID-19 Has Devastated The Nigerian Oil Industry – Sylva
…flies scorecard, regrets that pandemic is holding up his mandate.
Nigeria’s Minister of state, Chief Timipreye Sylva has declared that the COVID-19 pandemic has brought so much devastation to the Nigerian economy.
The…
Nigeria Secures Access To Hedge Fund Documents In P&ID $9.8bn Gas Suit
A U.S. court granted Nigeria permission to subpoena London based hedge fund, VR Capital Group Ltd., four subsidiaries and three of its directors for documents. The company is part of a company that received a $9.8 billion arbitration award…
E/Guinea Announces Full Compliance with OPEC’s Production Cuts
…Signs first five mining contracts
Equatorial Guinea has announced its compliance with OPEC production cuts obligations. The minister of hydro carbons, Mr. Mbaga Lima, said its compliance is under the record OPEC+ global oil cuts deal…
NLNG Flaunts Score-Card So Far, Says It Raked In $108bn Revenue
...Paid FG $13bn for gas purchase
.... $7bn in dividends and $8bn in taxes
The Nigeria Liquefied Natural Gas company has marked its 31th anniversary, informing that it had paid over $13 billion to the federal government coffers for…
Kyari Implores Graduate Trainees to Join in Building NNPC
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has urged the newly recruited Graduate Trainees (GTs) to join hands with other staff in building the corporation to become the National…
FG to roll out policy on LPG Penetration in June – Sylva
The Minister of State for Petroleum Resources, Chief Timipre Sylva, said the Federal Government will roll out its policy on LPG in June.
Sylva said that FG’s policy on Liquefied Petroleum Gas (LPG), also known as Cooking Gas,…
IEA Names Dan Dorner as new Head of Clean Energy Ministerial Secretariat
Dan Dorner has been appointed as Head of Secretariat for the Clean Energy Ministerial (CEM), the International Energy Agency has said.
Dorner took up his appointment at CEM – a global forum tasked with accelerating clean…
Speaker Urges Buhari to Adopt Feasible Crude Oil Benchmark in Budget Adjustment
Speaker of the Nigerian House of Representatives, Femi Gbajabiamila, has called on the executive arm of government to adopt a feasible crude oil benchmark in the proposed amendment to the 2020 national budget.
Speaking at a joint…
Nigeria Further Adjusts 2020 Budget Oil Benchmark to $25
…Adjusts national budget to $10.52trln
Nigeria has adjusted its national budget key parameter, crude oil benchmark, to $25 from $30 per barrel.
It is the second time the country was forced to alter crude oil benchmark due…
Nigeria: Crude Oil Cargo Drop Cuts Seaports Targeted Earnings By 78%
Following the plummeting price of crude oil globally, a top Nigerian government official has predicted that the revenue which the federal government targeted to earn from the seaports would drop by 75% by the end of the 2020 budget year.
…
Low Demand: Half of World’s Floating LNG Vessels Laden with Nigerian Gas – Investigations
Following collapsed demand for Nigeria’s oil in the international market, and while buyers obliged to take cargoes under long-term contracts are postponing deliveries they don’t need, Nigeria is reportedly running out of places to park its…
NLNG signs EPC contract for Train 7
The Nigeria LNG (NLNG) on Wednesday, signed the engineering, procurement and construction (EPC) contract for Train 7, signaling the commencement of the long awaited gas expansion project.
The company in a statement disclosed that…
NNPC Records ₦211.62billion from White Products Sales in February
The Nigerian National Petroleum Corporation (NNPC) has said that its downstream subsidiary Company in charge of bulk sales and distribution of petroleum products, Petroleum Products Marketing Company (PPMC), recorded ₦211.62billion sale of…
COVID-19: NNPC to Extend Delivery of Medical Facilities, Infrastructure to States Not Covered
States that have not benefited from medical facilities and infrastructure support from the Nigerian National Petroleum Corporation (NNPC) and her partners in the ongoing intervention initiative have no cause to worry.
The corporation’s…
Nigeria Denies Publicized 2020 Marginal Field Bid Round
…Alleges that fraudsters are at work
The Directorate of Petroleum Resources (DPR) has denied that it issued any guidelines to potential investors willing to participate in a marginal…
COVID-19: NLNG Hands Over 10-Bed Bonny Holding Centre
Nigeria LNG Limited has handed over a 10-bed Holding Centre to the Bonny Zonal Hospital as part of its support to its host community to fight the spread of Coronavirus.
The hand over of the Centre is coming closely on the heels of the…
African Energy Chamber Joins ‘Equal By 30 Campaign’
The African Energy Chamber has announced its decision to join the ‘Equal by 30 Campaign’ which calls for equal pay, equal leadership and equal opportunities for women in the clean energy sector by 2030.
The ‘Equal by 30 campaign’…
Post COVID-19: Nigeria, Other Oil Nations Risk Recession – Expert
An energy law expert has predicted that in the post COVID-19 era, most oil-producing economies in the African continent, including Nigeria, will plunge into recession with untoward consequences.
Onyeka Cindy Ojogbo, an Associate…
Shell Donates Coronavirus testing machines, ventilators,others to Rivers State
Shell Petroleum Development Company (SPDC) has donated COVID-19 testing equipment and other medical hardware, consumables to the government of Rivers State.
SPDC’s Managing Director and Country Chair, Shell Companies in Nigeria, Osagie…
Nigeria needs to increase local refining capacity, says IPMAN
The Independent Petroleum Marketers Association of Nigeria (IPMAN) says Nigeria needs to increase its local refining capacity to mitigate the impact of the crash in global crude oil price on the nation’s economy.
IPMAN’s President,…