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OIL AND GAS
Nigerian Federal Character Commission Endorses NNPC On Compliance
The Acting Executive Chairman, Federal Character Commission, Ambassador Abdullahi H. Shinkafi, has described Nigerian National Petroleum Corporation (NNPC) as one of the few Nigerian agencies in complaint of federal character, and complies…
NNPC Says BTG Pactual E&P B.V. Will Continue To Own 50% Of POGBV.
…As Petrobras divests from Africa
Nigeria’s apex oil corporation, the Nigerian National Petroleum Corporation (NNPC), has confirmed that BTG Pactual E&P B.V. will continue to own the remaining 50 per cent of POGBV.
A…
South Sudan Extends Prequalification For Environmental Audit Of Oilfields
The Government of the Republic of Southern Sudan has extended the deadline for the submission of documentation for the comprehensive environmental audit of all the country’s oilfields by seven days. The deadline is now 16h00, 27 January…
Oil Price Rise On Libya’s Force Majeure, Iraq Protest
Oil prices rose yesterday after Libya declared force majeure on two major oilfields following a military blockade and protests escalated in Iraq raising supply concerns.
Brent crude was trading up 11 cents, or 0.2 percent, at $65.31 per…
Equatorial Guinea Speeds Up Year of Investment Drive with Nigerian Investors
In line with its commitment to attract regional capital investment into the country, the Minister of Mines and Hydrocarbons, Equatorial Guinea, H.E. Gabriel Mbaga Obiang Lima, met with some high-level Nigerian investors, bankers and…
Ghana Loses $200m In Downstream Petroleum Revenue Annually
The government of Ghana has lamented that illicit activities in the downstream petroleum sector is weighing heavily on the country’s economy, and that the country loses over $200million annually in tax revenue.
Vice President, Dr…
Africa Will Develop With Oil And Gas – Whether The West Likes It Or Not
…Boycotting oil and gas firms in Africa is a misguided course of action.
…Many are diversifying into renewables.
…Africa's time to grow is here - and its natural resources are a part of that.
In a 2014 article, Archbishop Desmond…
Oil Subsidy Hits N45.87 Per Litre Of Petrol
…As Nigeria crude oil production falls to 1.57mbpd record low
Nigeria’s fuel pricing agency, Petroleum Products Pricing Regulatory Agency (PPPRA) has said that the country incurs an average of N45.87 as subsidy on every litre of petrol…
Nigeria’s Crude Oil Production Falls To 1.57mbpd Record Low
The Organisation of Petroleum Exporting Countries (OPEC) has said that Nigeria’s crude oil production fell to a record low of 1.57 million barrels per day as at last December.
In its monthly oil market report published midweek,…
Total Selects Maersk Drillship In Offshore Angola, Namibia Campaign
French oil major, Total has selected a Maersk Drilling-owned drillship to drill world record water depth in Angola-Namibia campaign. Maersk Drilling confirmed on Tuesday that it had been awarded contracts for a three-well exploration…
Pib Delay Puts Nigeria’s 40bn Barrels Reserves Target Under Threat
The nation’s total oil reserves, which is targeted at increasing from about 37 billion to 40 billion barrels by 2025 is believed to be under threat due to the absence of the Petroleum Industry Bill (PIB).
The current National Assembly…
Offshore Oil And Gas boom To Continue: Rystad
Spending on new offshore oil and gas projects is set to grow further this year after developments holding more than 20 billion barrels of oil equivalent were given the go-ahead last year, Norwegian consultancy Rystad Energy said. More than…
Nigeria Files N3.73tn Crude Oil Revenue Deficit In 11 Months
The Nigerian government has posted a deficit of N3.73 trillion in its crude oil revenue between January and December 2019. Central Bank of Nigeria (CBN) reported Economic Report for November 2019 that the country generated a gross sum of…
E/Guinea Licensing Round Records Interest From 53 Firms In 17 Bids
…MoUs to Boost Oil and Mining Exploration
Equatorial Guinea has signed several MoUs with successful bidders of its 2019 Licensing Round, on the sidelines of the Atlantic Council’s Global Energy Forum in Abu Dhabi. Under EG-RONDA 2019,…
DPR To Support Local Refining Through 11,000bpd Refinery
The Department of Petroleum Resources (DPR) has said that strengthening local refining of petroleum products remains a viable step towards meeting domestic demand as well as to reduce capital flight through the import of refined products.
…
Equatorial Guinea To Increase Oil Output In 2020
Equatorial Guinea aims to add 20,000 barrels per day (bpd) to its production output by October, increasing production to 140,000 bpd, Minister of Mines and Hydrocarbons, H.E. Gabriel Obiang Lima said on Sunday.
Noble Energy, Trident…
NNPC, Chevron Execute Agreements Over Escravos Gas-to-Liquid Project
The Nigerian National Petroleum Corporation (NNPC) and the Chevron Nigeria Limited (CNL) have executed agreements over the multi-billion dollars Escravos Gas-to-Liquid (EGTL) project.
Speaking at a sign-off meeting in Abuja, the Group…
Russia Seeks Partnership With Nigeria In Upstream, Gas, Power Development
Russian Federation has expressed its readiness to partner with the Nigerian National Petroleum Corporation (NNPC) in the development of Nigeria’s Upstream, gas and power sectors.
According to the Russian Federation Ambassador to…
South Sudan Announces Tender For Environmental Audit Of Oil Fields
The government of the Republic of South Sudan has announced a tender for a comprehensive environmental audit of all the country’s producing oilfields.
Sudan’s Ministry of Petroleum in a statement said, the tender pre-qualification…
Nigeria’s December Oil Output Drop, Biggest In OPEC
Nigeria, Africa’s top oil producer, recorded the largest production drop of 80,000 barrels per day in the Organisation of Petroleum Exporting Countries last month.
The country exported less crude oil in December, according to…
