Oil And Gas

Nigerian National Petroleum Corporation (NNPC) has said that it paid about N1.7 trillion to the Federation Account Allocation Committee (FAAC), between February 2019 and February 2020.In the national oil company’s full monthly financial…

The Algerian President, Abdelmadjid Tebboune on Tuesday reiterated his government’s determination to move the country’s economy from oil-reliance to being a diversified economy. Tebboune in a meeting with the prime minister as well as…

Subsurface data providers Geoex and Bilview have made a portion of Nigeria’s national well data portfolio available at reproduction cost to pre-qualified bidders of the 2020 marginal fields bid round. The core data pack includes more…

       …Hopes to stick to its long-term climate strategy presented in February Italian oil giant, Eni S.p.A, has taken a decision to cut its long-term price forecasts, in the conclusion that the raging Corona virus may last longer than…

            …600 Companies Jostle for 57 Oil Fields …FG to Establish National Acreage Management Strategy The Federal Government has indicated its interest to further deepen Nigerian Content in the nation’s oil and gas…

An explosion has been reported at the Gbetiokun, OML 40, operated by the Nigerian Petroleum Development Company (NPDC), on behalf of the NPDC/Elcrest Joint Venture. The Nigerian National Petroleum Corporation (NNPC) on Tuesday stated…

African Energy Chamber and its partners have launches a new energy jobs portal that would ultimately boost local content. The platform will also assist local and international companies in attracting local talent across 30 different…

World Bank believes that Nigeria will lose up to 70 per cent of its earnings from crude oil sales in 2020 following the impact and outcomes of the raging Covid-19 pandemic. Twice in three months, the impact of the pandemic forced…

   …Threatens to stop lifting petroleum productsNigeria is heading for another fuel scarcity crises as the Independent Petroleum Marketers Association of Nigeria (IPMAN) threaten to stop lifting petroleum products in all South West depots.…

Oil price has risen in London to above $43 per barrel just as Saudi Arabia hiked its official selling prices, and as the global equity markets climbed, World Oil News Agency reported yesterday in a global market report    It learnt that…

Gabon’s Directorate General of Economy and Tax Policy (DGEPF) has stated that the country recorded a 5.3% increase in oil production during the first quarter 2020, compared to the same period in 2019.  The directorate indicated in a…

...Slower growth in demand will put pressure on prices, earnings, investment, over the next 2 decades.Global consumption of petrol continues to slowdown over the decades and the situation will have profound implications for the…

Nigeria, Iraq, and Kuwait have been reported as having kept to their promises on Organisation of Petroleum Exporting Countries (OPEC) stipulated production cuts as they lowered their crude oil supply to the international market. There had…

The Independent Petroleum Marketers Association of Nigeria, South-West, has threatened to stop lifting of petroleum products over the hike in the petrol pump price. The South-West Chairman of IPMAN, Alhaji Dele Tajudeen, described the…

Over the weekend, Atlas Petroleum International has resumed work over activities and well interventions on OML 109 in Nigeria in order to enhance production from the Ejulebe marginal field. Awarded to Atlas Petroleum International in…

The Nigerian National Petroleum Corporation (NNPC) has announced top management changes in the national oil company. A statement from the company on Sunday said the move was part of the ongoing efforts to strengthen and reposition the…

According to World Oil Report, OPEC has slashed oil production to the lowest level since the Gulf War in 1991, as the global oil body escalated efforts to revive global markets just as a resurgence of the Coronavirus is seen to be…

Lekoil Oil and Gas Investments Limited has executed a prepayment facility agreement with Shell Western Supply and Trading Limited (SWST), a member of the Royal Dutch Shell group of companies. The prepayment facility follows the renewal…

     …As partners await marginal oilfield roundCrude oil production from Aje field, offshore Lagos on OML 113, operated by Yinka Folawiyo Petroleum Company Limited, fell to 890,203 barrels last year from 1.2 million barrels in 2018, one of…

Over 20 businesses are said to have located at the new Alaro satellite city in the Lagos State’s Lekki Free Zone courtesy of RunGas Group, a Nigerian Liquified Petroleum Gas (LPG) company, which expanded its operations in Nigeria with its…