Browsing Category
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.
IEA, OPEC Cite Caution About Global Oil Market, Post Covid19 Recovery
The Paris-based International Energy Agency (IEA) has slashed its 2020 outlook by 200,000 barrels per day (bpd) to 91.7 million bpd in its second downgrade in many months.
The agency trimmed its 2020 oil demand forecast citing caution…
PPPRA Gazettes Market-Based Petrol Pricing Regime
The policy empowering oil marketers to fix petrol price in accordance with a market based pricing regime for petrol has been gazetted by the Petroleum Products Pricing Regulatory Agency. Then gazette was issued in March 2020, Orient Energy…
NNPC’s Legal Team Wins Africa Arbitration Award
… Saves $5.4bn in Court Cases
The Nigerian National Petroleum Corporation (NNPC) said on Wednesday said that its legal team has saved about $5.4 billion in court cases through the victories it recorded in four court judgments…
Africa’s Natural Gas Projects are Crucial for Global Energy Transition, says NLNG’s Leye Falade
Africa’s natural gas projects are crucial to the energy transition and economic development in the region and can be used to power industrialisation while reducing the emissions released into the atmosphere, said Leye Falade, general…
Distribution of Oil Revenues Dominate Discussions to Restart Libyan Output
Talks to restart the bulk of Libya’s crude output and end the eight-month long blockade on the country’s oil exports are ongoing, with the issue of distribution of oil revenues still being ironed out.
Platts said in a report yesterday…
ADM Energy, OilBank Partner in Nigeria’s Marginal Field Round Bid
ADM Energy has announced it is participating in the Nigeria’s 2020 Oil Bid Round as a strategic partner of OilBank International, a Nigerian integrated oil and gas service management company.
The submission follows ADM and OilBank…
NNPC records ₦20.36bn trading surplus in July — report
The Nigerian National Petroleum Corporation (NNPC) said it recorded increased trading surplus of ₦20.36billion in July, compared to the ₦2.12billion surplus in June 2020 in its operations.
The corporation disclosed this in its July…
Shutting Down All Nigeria’s Four Refineries Was Deliberate – Kyari
The Nigerian National Petroleum Corporation (NNPC) has said that Nigeria’s four refineries in Port Harcourt, Warri, and Kaduna, were deliberately shut down, having been starved of the mandatory routine turnaround maintenance and major…
DPR Generates N742.4bn Revenue in 8 Months
Nigeria’s Department of Petroleum Resources (DPR) has confirmed that it generated the sum of N742.4 billion revenue in eight months.
Department of Petroleum Resource (DPR) is a department under the Nigerian Federal Ministry of Petroleum…
Shell Grows Oil Output to 514,000 bopd in Nigeria
The chairman of Shell Companies in Nigeria (SCiN), Osagie Okunbor, has said that the Shell Petroleum Development Company (SPDC) has grown its oil output to an average of 514,000 barrels per day (bpd).
He said the company also has…
CBN Caps N10bn Maximum for Obligors under the N250bn Gas Intervention Fund
The Central Bank of Nigeria (CBN) has capped the maximum loan an obligor can access under its N250 billion intervention fund for the gas sector at N10 billion.
This is contained in a guideline released on Monday, titled, “Framework for…
Local Oil Firms Need Respite to Contain Production Cuts – Seplat Boss
The new chief executive officer of Seplat Petroleum Development Company Plc, Mr Roger Brown, has said that local oil companies deserve special support from the federal government if oil production restriction, which requires reducing their…
Again, NNPC Extends Oil Swap Contracts For 6 Months
The Nigerian National Petroleum Corporation (NNPC) has extended for six months its contracts with private companies to swap crude oil for fuels, two sources familiar with the contracts told Reuters yesterday.
In July 2019, in order to…
Be Creative, Collaborate to Gain Local Content Opportunities, Shell MD Tells Nigerian Companies
The Managing Director of Shell Nigeria Exploration and Production Company Limited (SNEPCo), Mr Bayo Ojulari has charged industry players, especially indigenous companies in the Nigerian oil and gas industry to be creative, embrace…
Compressed Natural Gas: Expert tasks FG on adequate preparation
Prof. Wumi Iledare, a Professor of Petroleum Economics, on Tuesday urged the Federal Government to ensure adequate preparation before the introduction of the use of Compressed Natural Gas (CNG) in the country.
Iledare, a former…
IPMAN to FG: Scrap PPPRA, PEF Now!
The relevance of the Petroleum Products Pricing Regulatory Agency (PPPRA) and the Petroleum Equalisation Fund (PEF) is deemed lost in the face of full deregulation of the downstream sector of the Nigerian oil and gas industry.
…
OPEC Celebrates Six Decades of Commitment, Perseverance and Sacrifice
Hurray, the Organisation of Petroleum Exporting Countries, OPEC clocks 60! For OPEC it has been six decades of diligent and impactful drive for a stabilized global oil market.
The Organisation’s commitment, perseverance and sacrifice…
OPEC Postpones 60th Anniversary Celebrations
The celebrations of Organization of the Petroleum Exporting Countries’ (OPEC( 60th Anniversary, which were originally scheduled this month in Baghdad where the Organization was founded, have been postponed.
The Organisation is an…
Price of Petrol: Expect Less from In-Country Supply – Sylva
The coming on stream of the Dangote refinery may not offer Nigerians the much desired relief in the cost of premium motor spirit aka Petrol, Orient Energy Review has gathered.
Speaking on NTA "Good Morning Nigeria" on Monday, the…
Uganda, Total Sign Oil Pipeline Agreement
The government of Uganda and Total Exploration and Production (Africa) have signed the Host Government Agreement (HGA) for the East Africa Crude Oil Pipeline (EACOP) project.
The ceremony which held at the State House Entebbe was…