Oil And Gas

The Nigerian National Petroleum Corporation (NNPC), on Wednesday, said it will continue to abide by the output cut agreement of the Organisation of the Petroleum Exporting Countries (OPEC) and its allies aimed at stabilising the global oil…

The Nigerian National Petroleum Corporation (NNPC) says it is currently diversifying its portfolio beyond oil assets due to the impact of global energy transition. Mele Kyari, Group Managing Director, NNPC made this known on Wednesday…

The Federal Government has said that it does not have any plan of rescinding its policy on subsidy removal on Premium Motor Spirit (PMS), popularly known as petrol. The Minister of Finance, Budget and National Planning, Zainab Ahmed…

The passage of the Petroleum Industry Bill (PIB) will unlock more revenue to the country, Nigeria’s Senate President, Ahmad Lawan has said. Lawan made this known while addressing journalists at a forum to mark his 62nd birthday in Abuja…

The Board of Directors of Starzs Investments Company Limited has appointed Ms Iroghama Obuoforibo as Managing Director/Chief Executive Officer of the company with effect from 1st February, 2021. Obuoforibo will replace Mr Greg…

About 400 participants that applied in the Nigerian National Petroleum Corporation (NNPC) Experienced Hire recruitment exercise in 2019 have petitioned President Muhammadu Buhari, to prevail on the Group Managing Director of the NNPC,…

Unknown gunmen on Saturday attacked and killed a Saudi Arabia-based oil expert, Ogacheko Atanu, in his Idah residence of Kogi State. Orient Energy Review learnt that the ugly incident happened on Saturday about 11p.m. when the deceased…

Ghana is set to open sub-Saharan Africa’s first liquefied natural gas-to-power project as it moves to position itself as a hub for the cleaner and cheaper fuel in the region. LNG-to-power projects have been booming from Asia to Latin…

A floating regasification unit (FRU) that will allow Ghanaian customers to access Liquified Natural Gas (LNG) is expected to arrive in the country in the first quarter of 2021. The purpose-built FRU, which was built by Jiangnan…

Pipeline explosion that left Oduoha community in Emohua Local Government Area of Rivers State in shock occurred in the early hours of Wednesday, Orient Energy Review learnt. The pipeline, which supplies gas through the community to a…

The Institute for Energy Security (IES) has projected that the price of fuel would increase marginally in the first pricing window of January, 2021. Institute for Energy Security stated that its projection was based on the prices…

Oil prices extended gains on Wednesday, rising to their highest since late February, after Saudi Arabia announced a big voluntary production cut, and as an industry report showed US inventories fell last week. Brent crude rose 25 cents,…

The impasse on OPEC+ production level for the months of February and March 2021 which resulted in the extension of the group’s meeting to Tuesday has been resolved with Saudi Arabia going on voluntary dipping of its oil output by one…

The weekly Market Report is provided by Gladius Commodities of Lagos, Nigeria. The full report is here. NIGERIAThe Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Alhaji Mele Kyari stated that the…

The Nigerian Electricity Regulatory Commission (NERC) has said that it did not grant any approval to electricity distribution companies in the country to increase electricity tariff by 50 per cent. NERC in a statement by its…

…Says OPEC Achieve Biggest Production Cut in 2020 The Organsiation of Petroleum Exporting Countries and its allies (OPEC+) have failed to reach a consensus on oil production output,…

Despite the gains stirred up by the news of coronavirus vaccines, the global oil demand will take another year or so to return to pre-pandemic levels—by late 2021 or early 2022, an energy expert has said. Markit vice chairman, Daniel…

A little more than a year ago, in November 2019, the European Investment Bank (EIB) declared its intention to phase out funding for fossil fuels. Specifically, it said that it would no longer grant loans for projects involving crude oil,…

The Department of Petroleum Resources (DPR) said that it has successfully shortlisted 161 companies to advance to the final stage of the bid round process for 57 marginal oilfields. The head of public affairs, DPR, Paul Osu, announced…

The non-passage of the Petroleum Industry Bill (PIB) by the Nigerian government has continued to impact the country negatively, especially as it makes the country’s oil and gas space less attractive to the investors. This is despite its…