The significant progress reported on the development of a Covid-19 vaccine by pharmaceutical company Pfizer, triggered a leap in oil prices, agencies reported on Monday.The news of the vaccine saw the biggest daily jump in the price of…
Dangote Refinery has said that progress at the Ibeju Lekki, Lagos-based refinery has been negatively impacted by the corona virus because many of the countries where the company sourced its equipment had been badly affected also.
As a…
…Says oil demand to peak in 2028Norwegian energy intelligence firm, Rystad Energy, has been forced by developments in the Covid-19 pandemic experience, especially the acceleration of the energy transition, to significantly revise its…
There were reports yesterday that oil prices rose nearly 3 per cent after President Donald Trump falsely claimed victory in a tight U.S. election with millions of votes still to be counted and the final result not yet clear.
Hellenic…
Oando Energy Resources, Nigeria’s wholly indigenous oil company, has said that the impact of the corona virus pandemic will continue to hunt the global oil sector despite the measures put in place oil companies and governments.
The…
Oil fell to a four-month low, deepening Wednesday’s slump as Covid-19 lockdown restrictions grow in Europe.
Futures in London lost 3.9%, declining as the dollar reversed an earlier loss to trade higher.
Germany and France, the…
The Department of Petroleum Resources (DPR) score the Nigerian oil and gas industry performed above global average in the management of the coronavirus pandemic in their areas of operations in the country.
The DPR explained that the…
Nigeria National Petroleum Corporation (NNPC) has confirmed that the country's oil revenue target declined by N1.06 trillion due to the impact of the COVID-19 and low crude oil price.
The Group Managing Sirector, Malam Mele Kyari,…
The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Malam Mele Kyari has disclosed that no fewer than 339 companies are bidding for the 2020/21 sales and purchase of the Nigerian crude oil grades.
Kyari said…
….Considers Legal Redress against Saharareporters, NairalandNigerian National Petroleum Corporation (NNPC) has refuted reports in a section of the media alleging that it paid bribe to the National Association of Nigerian Students…
Oil price slips on Thursday as new restrictions to stem a surge in COVID-19 infections have increased uncertainty over the outlook for economic growth and a recovery in fuel demand.
Brent crude LCOc1 futures dropped 70 cents, or 1.6% to…
The International Energy Agency (IEA) has reiterated the critical position electricity occupies in the attainment of sustainable economic recovery from the covid-19 onslaught on economies.
In its ‘World Energy Outlook 2020, special…
…says search in Benue attracting attention of IOCsAn expert has confirmed that the exploration of oil in the Benue Trough by the Nigerian National Petroleum Corporation (NNPC) is attracting the…
Panelists at the webinar organised by Microsoft and Africa Oil & Power and African Energy Chamber, yesterday in South Africa, agreed in part that the COVID-19 pandemic has accelerated technology adoption as an integral component of oil…
Oil prices fell yesterday almost 4% to their lowest in two weeks on worries about the outlook for fuel demand as Europe and the United States grappled with a surge in new coronavirus infections.
Reuters reported that stock and…
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…
The new chief executive officer of Seplat Petroleum Development Company Plc, Mr Roger Brown, has said that local oil firms deserve special support from the federal government if oil production restriction, which requires reducing their…
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…
The Presidency has said that despite the fact that subsidy removal has long been acknowledged as the right thing to do, previous administrations for lack of courage failed to take the bold step to end fuel subsidy in Nigeria.
Defending…
...oil revenues rose by more than a 100% between May and June
Nigerian National Petroleum Corporation (NNPC) have said that Nigeria's oil revenues rose by more than a 100% between May and June, despite the height of the…
