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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.
OPEC+ Undershoots Production Target by Whopping 2.7mbpd
The Organisation of Petroleum Exporting Countries (OPEC) has recorded that its members continually and collectively undershoot its oil production target in the OPEC+ deal, failing in April to boost output as much as required by the…
Turnaround Maintenance on Nigeria’s Refineries Failed – NNPC Confesses
…….Says turnaround maintenance since 25yrs mismanaged
The Nigerian National Petroleum Company (NNPC) has confessed that the turnaround maintenance executed on Nigeria’s moribund refineries have failed.
The national oil company also…
Oil Theft: NUPRC Introduces Tracking Scheme, Oil Well Metering
In the bid to checkmate oil thieves in the country, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has introduced the Advanced Cargo Declaration Regime (ACDR) scheme, a tracking mechanism that would monitor crude oil…
Nigeria to Account for 24% of Oil Projects Starting Up in Africa by 2026 – Report
GlobalData, a data and analytics company, has said predicted that Nigeria would have more than 100 oil and gas projects coming up in the next four years.
GlobalData Plc is a data analytics and consulting company, headquartered in the…
Stamping Out Illegal Refineries
The recent fire explosion at an illegal oil refinery in Abaezi forest of Imo State has further exposed the inherent dangers associated with illegal refineries in the country. Not less than 150 persons were confirmed dead by the National…
Nigeria Fails to Meet OPEC Quota in Q1, 2022, NNPC Boss Speaks
Group managing director of the Nigeria National Petroleum Company (NNPC), Mr. Mele Kyari, has said that Nigeria’s inability to meet the Organisation of Petroleum Exporting Countries (OPEC) production quota is due to the raging, menacing…
Nigeria’s Private Refineries’ Operators Groan under Weight of Crude Scarcity As NNPC…
The few small-scale refineries operating in Nigeria are facing a huge challenge of crude oil supply, as the Nigerian National Petroleum Company (NNPC) Limited continues to focus on exporting the commodity, THISDAY learnt yesterday.
…
‘Nigeria’s AKK Gas Pipeline, Target for European Markets’
The contractor handling the Ajaokuta Kaduna-Kano (AKK) gas pipeline project, Emeka Okwuosa, has said that the project is a good target for European markets exploring opportunities in gas exportation.
Okwuosa who is the chairman of…
Q1 2022: Nigeria Records $565.5m from Oil and Gas – NNPC
The Nigerian National Petroleum Company Limited (NNPC) has said that the country recorded $565.5 million export sales of crude oil and gas in the first three months of 2022.
In a date provided by the NNPC, crude oil exports earned the…
Global Oil Prices Hit $110pb as EU Unveils Fresh Sanctions Against Russia
………W/Bank Sees High Energy Prices Years After Russia’s War In Ukraine……..EU to ban all shipping, insurance and financing servers to transport of Russian oil
Global oil prices responded sharply yesterday, hitting $110 per barrel before…
Nigeria LPG Vendors List Limitations to Product Penetration
Executive director of popular oil and gas retail outlet, Rainoil Limited, Emmanuel Omuojine, has said the Nigeria’s gross domestic product (GDP) could add up to $1 billion annually if flared gas is optimized, and considerable LPG…
Again Nigeria Fails to Meet OPEC Production Target
Nigeria has again failed to meet the Organisation of Petroleum Exporting Countries (OPEC) oil production quota allocated to member countries by the cartel.
It is the fourth time that Nigeria is failing the test, OPEC said in a report…
Minister Confirms Russia’s Interest in the Nigeria – Morocco Pipeline Project
Nigeria has confirmed that Russia is among the investors seeking to be part of the gigantic Nigeria - Morocco Gas Pipeline project. A report by The NewArab quoted Nigeria’s minister of state, petroleum resources, Timipre Sylvia assuring…
RenCap: With Oil Prices above $100 Per Barrel, Impact on Budget will Be Negligible
A new report by Renaissance Capital (RenCap), a frontier market investment company, has stated that despite crude oil prices at over $100 per barrel, the impact on Nigeria’s fiscal position would remain negligible due to petrol subsidy…
Nigeria’s Crude Oil Production Declined by 40,000 in April – Survey
Quoting a Reuters survey of Organisation of Petroleum Exporting Countries (OPEC) crude oil production for the month of April, 2020, OPEC has said Nigeria crude oil output declined by 40,000 barrels per day (bpd) in the period under review.…
OPEC Fund Finances Phase II of Nigeria-Morocco Gas Pipeline’s FEED
The OPEC Fund for International Development (OFID) and Morocco have signed the legal documentation on the partial funding of the second phase of the Nigeria-Morocco Gas Pipeline (NMGP) project’s Front End Engineering Study (FEED).
The…
Russia Oil Embargo: Mixed Reactions As EU Turns To Nigeria, Others For Supply
Indications that the European Union (EU) may turn to Nigeria and other oil-producing countries for oil supply amid moves to approve an embargo on Russian oil, is generating mixed reactions.
The New York Times reported last Friday, that…
PENGASSAN to Partner NUPENG to stop Casual Staff Syndrome in Oil Sector
The President of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Mr. Festus Osifo, has revealed that the association is making moves to stop or reduce to a minimal level, the issues of casualisation in the oil…
Navy Confirms Relocation of Illegal Refiners to Nigeria’s South East Region
…….Announces Seizure of Stolen, 6m litres of Crude Oil Worth N3bn during raids
The Nigerian Navy has confirmed the migration by operators of illegal refining sites IRS from the South South geopolitical zone to the South East.
The…
Nigeria’s Oil Production Rigs Drops to 10
The Organisation of Petroleum Exporting Countries (OPEC) has released a data stating that the number of functional crude oil production rigs in Nigeria decreased by 37.5% to just 10 operational rigs in March 2022.
An oil rig, offshore…