Oil and Gas

Surge of up to US$10bn in M&A Values in the Oil and Gas Equipment and Services Industry in Q3 2018, says GlobalData Surge of up to US$10bn in M&A Values in the Oil and Gas Equipment and Services Industry in Q3 2018, says GlobalData…

The absence of fiscal policy will continue to retard investments flow in Nigeria’s oil and gas industry, such that attainment of 40 billion crude oil reserve will not be realised, the Nigerian Association of Petroleum Explorationists, NAPE,…

Kenechukwu Obiajuru, Yenagoa The indigenous vendors in Bonny Island, under the aegis of Association of Niger Delta Vendors in Oil and Gas have expressed their readiness to participate in an upcoming business workshop for young…

The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote was conferred with a global award of excellence for outstanding contributions to sustainable local content development in Nigeria and…

Peace Obi The Minister of State, Petroleum Resources, Dr. Ibe Kachikwu has said that Nigeria's success in driving her local content policy has paved the way for the deployment of local capacities, greater participation of indigenous…

African Petroleum issued an update on its Sierra Leone SL-03-17 and SL-4A17 blocks. Through the company’s wholly owned subsidiaries – European Hydrocarbon Ltd and African Petroleum Sierra Leone Ltd – it has entered into the Second Extension…

The Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu recently in Abuja inaugurated the Nigerian Content Research and Development Council (NCRDC). The Council is expected to advise the Nigerian Content Development and…

Oge Obi The Major Oil Marketers Association of Nigeria has said that there is need for a regular review of the pricing template for Premium Motor Spirit (PMS) to ensure that the price of the commodity reflects the reality on the ground.…

Oil prices gave back early gains and turned lower on Friday after the International Energy Agency (IEA) deemed supply adequate and the outlook for demand weakening, sinking even as equities rebounded from a slump Thursday. The West’s…

Oge Obi The Local Content initiative of the Nigerian government in the oil and gas industry again, received a boost as an indigenous refinery by Waltersmith Refining and Petrochemical Company Limited gets ready to contribute about 271…

Oge Obi, INTELS Nigeria Limited, a leading port operator/oil and gas logistics service company has built and handed over a modern, fully equipped Health Centre to the Aruakpor-Umah Community, in Uvwie Local Government Area, Delta State.…

The global energy industry has been experiencing a radical transformation in recent years CAPE TOWN, South Africa, September 7, 2018/APO Group/ -- Speaking on Africa’s hydrocarbon development, Niall Kramer, CEO, South African Oil…

Africa Oil Week welcomes the continent’s biggest investors to attend event London, UK (06 September 2018) –  Africa Oil Week (AOW) has announced their partnership with SuperReturn. This new partnership offers delegates attending…

By Oge Obi, For effective shipping logistics in the country, the Director General of Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has called for the synergy between the Local Content Act 2010 and the Coastal…

The Minister of State for Petroleum Resources, Ibe Kachikwu, has described pricing as the nation’s greater challenge adding that this is so because people are unwilling to make sacrifices. Kachikwu, who stated this at the Nigeria…

The Secretary General of the Organisation of the Petroleum Exporting Countries (OPEC), Dr. Mohammed Sanusi Barkindo, will be leading other global oil and gas industry leaders to participate in the Nigeria International Petroleum Summit…

An indigenous oil company operating in Rivers State, BelemaOil Producing Limited, has awarded scholarships worth more than N100 million to 374 indigent students of its host communities. The scholarship, which was in three categories-…

Kabelmetal Nigeria Plc has been admired for its cable making expertise for 40 Years now. It has established itself as the leader and pioneer in the Nigerian cable market because of her drive for excellence in quality of products and passion…

An indigenous oil firm, Belemaoil Producing Limited, has announced plans to provide additional 12,000 direct jobs in the oil and gas sector before the end of 2018. President and founder of Belemaoil, Mr. Jackrich Tein, explained that the…

By Oge Obi The different strategies and efforts so far adopted by the Nigerian National Petroleum Corporation (NNPC) to tackle fuel supply situation and the attendant scarcity that marred the last year's Christmas and New Year…

The cost of producing a barrel of crude oil from the Egina oil field by the Nigerian National Petroleum Corporation (NNPC) and Total Upstream Nigeria Limited (TUPNI) has been put at $20 per barrel. The Group Operating Officer (COO)…

By Godspower Ike Nigeria started the year 2018 with a fuel crisis which began December 2017, fuelling concerns that the crisis would persist throughout the year. However, despite the fuel supply challenges, numerous opportunities exist…

…oil export dips by 2.4% in fourth quarter Nigeria crude and oil gas sales rose sharply to N1.22 trillion in 2017, according to data obtained from the Central Bank of Nigeria, CBN. The CBN, in its Economic Report for the Fourth Quarter…

THE oil market has rebalanced as Brent will reach $82.50 a barrel within six months, Goldman Sachs, a leading global investment banking, securities and investment management firm that provides a wide range of financial services said. Oil…

The engineers described their experience as second to none in the history of Nigeria oil and gas sector LAGOS, Nigeria, February 11, 2018/ -- Returnee indigenous India trained Graduate engineers of the Dangote Refinery…

In fulfilment of their commitments to the development of Nigerian Content in the Oil and Gas Industry, Shell Nigeria Exploration and Production Company (SNEPCo) and Cameron Flow Control Technology Nigeria Limited recently concluded on the…

The Group Managing Director of the Nigerian National Petroleum Corporation (NNC), Dr. Maikanti Baru, has urged the new Board of one of its downstream subsidiary companies, the Nigerian Pipeline Storage Company (NPSC), to partner with the…

The Nigerian Maritime Administration and Safety Agency (NIMASA) has been accused of causing the loss of $15 billion due to its inactions on the implementation of the Local Content Act. Speaking with newsmen in Lagos, the President,…

The Nigerian National Petroleum Corporation, NNPC, Total Upstream Nigeria Limited, TUPNI and her partners happily announce the arrival of the Egina Floating, Production, Storage and Offloading unit (FPSO) to the shores of Nigeria from South…

Chevron, NNPC, Seplat, ExxonMobil and TOTAL amongst leading organisations to feature on the Agenda The Petroleum Technology Association of Nigeria (PETAN) has confirmed the full conference programme for  the West African International…

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has urged the new Board of one of its downstream subsidiary companies, the Nigerian Pipeline Storage Company (NPSC), to partner…

New deep water projects in Nigeria must set new records beyond in-country integration of the Floating, Production, Storage and Offloading (FPSO) vessels, the Executive Secretary, Nigerian Content Development and Monitoring Board…

By Oge Obi The different strategies and efforts so far adopted by the Nigerian National Petroleum Corporation (NNPC) to tackle fuel supply situation and the attendant scarcity that marred the last year's Christmas and New Year…

Fuel shortages across the country may worsen over the coming weeks as the Kaduna Refining and Petrochemical Company (KRPC) has shut down operations due to lack of crude oil. According to the Executive Director, Services (EDS)…

The United States Energy Information Administration (EIA), has attributed the current surge in oil prices to shutdown of the Forties Pipeline in the North Sea on December 11, as a result of a crack in the pipeline, which remained…

According to The Nation report, The Nigerian National Petroleum Corporation ( NNPC ) yesterday said that out of the  35 interests that were indicated in modular refineries, the Department of Petroleum Resources ( DPR ) had  issued licenses…

Stakeholders in Nigeria’s downstream oil and gas sector have said the expiration of licences issued to investors to build private refineries will not hinder the country’s 2019 self-sufficiency target. The Minister of State for Petroleum…

The Nigeria Liquefied Petroleum Gas Association (NLPGA), the umbrella body for the LPG industry in Nigeria, is collaborating with government regulatory agencies to prevent the incidence of explosion in gas plants across the country.…

…As Search for Oil Continues in Sokoto, Other Basins The Nigerian National Petroleum Corporation (NNPC) is eyeing massive investments in the nation’s Oil and Gas Industry with a view to improving the nation’s revenue and creating jobs…

Indications are that Nigeria may not be joining the Organisation of the Petroleum Exporting Countries, OPEC’s oil output cap anytime soon as data obtained from the group shows that the country’s oil production dropped by 115,000 barrels per…

The President of the Republic, Nana Addo Dankwa Akufo-Addo, says close co-operation between Ghana and the world’s largest publicly traded international oil and gas company, Exxon Mobil, will be instrumental in developing Ghana’s…

The Petroleum Technology Association of Nigeria (PETAN) has announced the first set of speakers to feature on the programme at the West African International Petroleum Exhibition and Conference 2018 (WAIPEC), a two day major platform for…

The Nigeria Extractive Industries Transparency Initiative (NEITI) says it is delighted with the passage of the Petroleum Industry Governance Bill (PIGB) into law by the House of Representatives. The Senate had passed the PIGB…

The Nigerian National Petroleum Corporation (NNPC) on Thursday disowned advertisements on social media seeking for applications to fill phantom positions in the Engineering Department of the National Engineering and Technical Company,…

As emerging frontiers, especially digital ledger system also called blockchain become a more globally recognised solution, experts have called for frameworks that will enable Nigeria’s oil and gas sector to benefit from the innovation.…

According to its CEO, Vagit Alekperov, Russia’s second-largest crude producer Lukoil is ready to expand its upstream portfolio with new or recently acquired assets both in Russia and abroad, including countries such as Nigeria, as…

The Nigerian National Petroleum Corporation has commenced the direct supply of Premium Motor Spirit, popularly known as petrol, to independent oil marketers in order to effectively clear the fuel queues still prevalent in some…

The price of brent crude oil rose to 70 dollars a barrel on Monday, supported by ongoing output cuts led by OPEC and Russia, and ignoring a rise in U.S. and Canadian drilling activity that points to higher future output in North…

The Independent Petroleum Marketers Association of Nigeria (IPMAN) and Depot and Petroleum Products Marketers Association (DAPPMA) have called for the total deregulation of the downstream sub-sector of the country’s oil and gas…

The Muslim Media Watch Group of Nigeria, a Non-Governmental Organization, has appealed to the federal government to work towards ending erratic electricity supply in the country in 2018. The group gave the advice in a statement issued in…

A former Nigerian envoy to Japan and Equatorial Guinea, Ambassador Godknows Igali, has said that the people of the Niger Delta region would continue to demand a restructuring of Nigeria’s economy where 50 per cent of the revenue from…

Amidst the current fuel crisis in the country NIPCO has offered some soothing words to stakeholders, promising “market friendly rates” for all petroleum products from its depot in 2018. New Managing Director of the company, Sanjay…

Dirisu Yakubu with agency reports The second edition of the West African International Petroleum Exhibition and Conference (WAIPEC) 2018 will focus on new ventures in West Africa by driving oil and gas production through innovative…

Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has said that the corporation doubled the daily supply of Premium Motor Spirit (PMS), otherwise called petrol, from daily 700…

The House of Representatives Adhoc Committee investigating revenue leakages in Nigeria’s oil and gas industry has frowned at the continuous flaring of gas in the Niger Delta. The Committee disclosed that massive gas flaring is…

…As House of Reps Spits Fire on Activities of Fuel Saboteurs The National Association of Road Transport Owners (NARTO) and Petroleum Tanker Drivers (PTD) have expressed the commitment to throw their weight behind NNPC in the…

Members of the Organisation of the Petroleum Exporting Countries (OPEC) are said to require investments of about $10.5trillion to meet the projected increase in global oil demand. This is as Nigeria’s crude oil production…

The Nigerian National Petroleum Corporation (NNPC) says it can now account for every barrel of oil sold as it has achieved 98 percent automation of all its transactions. The corporation said the automation included supply,…

Amidst plans to wind up some of its global operations, Addax Petroleum on Sunday said it is ready to recommit to its operations in Nigeria. The troubled oil firm confirmed in April that it was shutting its corporate offices in…

By Obineme Ndubuisi Micheal ExxonMobil Training Centre in Eket, Akwa Ibom State, is currently offering Nigerian graduates the opportunity to acquire oil and gas skills through various technical training. The training was part of…

At a time that international crude oil market is getting more competitive, the Hungarian Government has indicated interest to purchase crude oil and Liquefied Natural Gas (LNG) from Nigeria. The Hungarian Ambassador to Nigeria,…

Aren’t we hungry yet? By Gilbert Borketey Boyefio  Information gathered by the Orient Energy Review indicates that contractors operating in Ghana’s oil and gas sector are holding in trust monies meant to be paid into the Local…

By Gilbert Borketey Boyefio Orient Energy Review magazine, Africa's most widely read energy publication on local content development across Africa, has been awarded by the Sekondi-Takoradi Chamber of Commerce and Industry (STCCI) in…

The Commissioner for Information, Akwa Ibom State, Mr. Charles Udoh, has disclosed that the state government is putting in place infrastructure to attract foreign investors as opportunity exists to build a gas fired thermal power…

Aiteo has announced the appointment of Bruce Burrows as Global Group Chief Financial Officer (CFO). Bruce brings a wealth of experience from different parts of the world in the oil & gas, power, mining, manufacturing,…

By Gilbert Borketey Boyefio The controversy surrounding the Build, Own, Operate and Transfer (BOOT) agreement between the Government of Ghana and Africa and Middle East Resources Investment Group LLC (AMERI Energy) seems not to…

Mining giant, Glencore has entered into an agreement to purchase 75 percent interest in Chevron South Africa, as well as a 100 percent stake in Chevron Botswana at a cost of $973 million. The deal, comprises of interest in Chevron…

The management of Ontario Oil and Gas Limited has denied any fraudulent transactions of refined petroleum product as alleged by a Bank. Fielding questions from news men recently, Ben Udoh, counsel to Ontario, described the order as…

Vitol Group’s negotiations to buy Noble Group Ltd.’s oil trading unit are “very complicated” and may not end in a deal, the chief executive officer of Vitol said, adding to pressure on his Hong Kong-based rival. The sale of the oil…

By Oge Obi Nigeria’s House of Representatives, after a heated debate on the alleged unlawful termination of the Integrated Logistics Services' (INTELS) pilotage agreement with the Nigerian Ports Authority, NPA, has resolved to set up an…

The Group Managing Director of Nigeria National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has lamented that Nigeria with oil ought not to be economically backward if the country had emulated countries like Qatar, Norway, Bahrain and…

Axxela Limited, an indigenous gas player, has spent a whopping N216 billion ($600 million) in the development of over 260 kilometres of gas pipeline infrastructure, virtual pipelines, and captive power plants in the country. This is an…

Nigerian National Petroleum Corporation (NNPC) has officially announced that it has completed, commissioned and delivered 500 kilometers (km) of gas pipelines between 2010 to date. The Group Managing Director of the NNPC, Dr Maikanti…

By Oge Obi  The Nigerian Institution of Safety Engineers (NISE), an arm of Nigeria Society of Engineers (NSE) has said that given the rising need for improved safety standards in the country, the professional association, is set out to…

By Oge Obi The nation's local content law implementation recorded another breakthrough recently as one of the world's leading diversified engineering firms - ParkerStore was launched in Nigeria during the just concluded Lagos…

The 2017 version of Ecobank Research’s Fixed Income, Currency and Commodities (FICC) Guidebook, which provides expert knowledge and analysis on African markets for investors and businesses, was launched today at AfricaFICC. Indicating a…

Abu Dhabi, UAE –  The closing day of ADIPEC has put the spotlight on the growing importance of women in the oil and gas workforce, with industry role models leading the Women in Energy conference.  Held as part of the Abu Dhabi…

Abu Dhabi, UAE – Energy is overtaking banking and finance as a target for cyber-criminals in the Middle East, yet companies in the sector are leaving themselves significantly more open to a successful attack, leading international experts…

Growing demand from Asia, and particularly from China, will underpin market growth for liquified natural gas (LNG), say leading industry figures at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), but importers are…

Abu Dhabi, UAE –  The latest edition of the OPEC World Oil Outlook predicts oil will remain the world’s largest source of energy over the next two decades, despite the increasing importance of renewables. Released in an exclusive…

A total sum of $200m (N61.18bn at the official exchange rate of N305.9 to a dollar) has been released to the Bank of Industry as intervention fund for indigenous oil and gas service providers, the Nigerian Content Development and…

Abu Dhabi, UAE – 11 November 2017 – Saudi Aramco is expected to send its biggest ever delegation to this week’s Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), as Middle East national oil companies (NOCs) establish new…

Abu Dhabi, UAE – 09 November 2017 – Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), the world’s most influential oil and gas forum, has revealed the shortlist for this year’s prestigious ADIPEC Awards. A…

LONDON, United Kingdom, -- It has come to our notice that some fraudsters running a reports-for-cash syndicate, about whom we raised alarm so very recently, are suggesting that a portion of the shareholding of the company that holds the…

By Oge Obi The breakout session looked at, “Low Carbon Investment Opportunities for Economic Recovery and Growth Plan (ERGP) in Niger Delta Communities” as part the key focus in the 2017 edition of the annual Nigerian Economic Summit.…

*Expresses willingness to encourage more investments in Nigeria The United States has offered to help Nigeria develop her skills in new technologies that could help her grow her oil and gas production. US Secretary of Energy, Mr. Rick…

...Country to Attain Self Sufficiency in 2019 By Oge Obi Nigeria’s Federal Government has disclosed that it would conclude the selection processes and announce the chosen private companies for the repairs, revamp and maintenance of…

The Nigerian National Petroleum Corporation (NNPC) Sunday, said it has commenced the acquisition of marine seismic data in Oil Mining Leases (OMLs) 83 and 85. The oil well is jointly owned by the NNPC, owning 60 percent stake and First…

The Nigerian Association of Petroleum Explorationists has said it will focus on a road map for the nation’s oil and gas industry at its 35th Annual International Conference and Exhibition as the government’s continued efforts to diversify…

The Nigerian National Petroleum Corporation (NNPC) says there are strong indications that commercial quantity of oil and gas will be found with aggressive exploration of the inland basins. In a statement signed by Mr Ndu Ughamadu, Group…

By Oge Obi The unfriendly business climate at the nation's maritime environment is believed to have given rise to the massive diversion of cargoes by importers to ports of neighbouring countries. This ugly trend worries the President,…

By Oge Obi The OPEC-Non-OPEC producing countries’ Joint Ministerial Monitoring Committee (JMMC) has stated that based on the report of its Joint Technical Committee (JTC) for the month of September 2017, OPEC and participating Non-OPEC…

*Nigeria to lead Drive for Local Content in Africa  By Margaret Nongo-Okojokwu The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote, has advised African countries to see…

 Austin Avuru is an outstanding professional with more than three decades experience at top management level in the Oil and Gas Industry. Currently, Chief Executive Officer (CEO) of Seplat Petroleum Development Company PLC; he spent 12…

By Dirisu Yakubu with agency reports French oil company, Total said on Friday it had agreed to sell the Italian petrol station network it co-owns with partner ERG (ERG.MI) to refiner API, completing the planned disposal of the TotalErg…

By Dirisu Yakubu with agency reports More than 100 pupils drawn from the nation’s six geo-political zones have been awarded full-board six-year secondary school scholarships by the Shell Nigeria Exploration and Production Company…

By Dirisu Yakubu with agency reports Gbaramatu communities in Delta State, rattled by the August 25, 2017, gas explosion from Escravos-Warri gas pipeline, has issued a 14-day ultimatum to the Nigerian Gas Company, NGC – a subsidiary of…

By Jerome Onoja Godspower Ike Africa used to be regarded as the Dark Continent, but over the years, the narrative has changed, especially with the exploits of the continent in the global economic landscape and the petroleum industry.…

Royal Dutch Shell plc (Shell), through its affiliates, has completed the sale of its entire Gabon onshore oil and gas interests to Assala Energy Holdings Ltd. (Assala Energy) a portfolio company of The Carlyle Group (CG: NASDAQ), for a…

ExxonMobil and Renewable Energy Group (REG) announced today that by utilizing REG’s patented fermentation technology, the companies’ joint research program has demonstrated the ability to convert sugars from a variety of non-edible biomass…

By Dirisu Yakubu with agency reports The United States on Tuesday said it would encourage more of its firms to invest in Nigeria’s oil and gas sector. This promise was made during a meeting held between Nigeria’s Minister of State for…

PwC’s Africa oil and gas review, 2017 analyses what has happened in the last 12 months in the oil & gas industry within the major and emerging markets JOHANNESBURG, South Africa, November 1, 2017/ -- The oil & gas…

CAPE TOWN, South Africa, November 1, 2017/ -- The African oil industry met this week to discuss the potential, but also the challenges, that the industry faces as the continent moves towards the commercialisation of its huge gas and oil…

By Oge Obi The OPEC-Non-OPEC producing countries’ Joint Ministerial Monitoring Committee (JMMC) has stated that based on the report of its Joint Technical Committee (JTC) for the month of September 2017, OPEC and participating Non-OPEC…

By Oge Obi The Minister of State for Petroleum Resources, Dr. Ibe Kackikwu has said that inspite of the seemingly challenges Nigerian business environment might be faced with, the country remains an irresistible business destination for…

By Oge Obi The Federal Government has disclosed that it would conclude the selection processes and announce the chosen private companies for the repairs, revamp and maintain of the country’s three refineries in the first quarter of 2018.…

LONDON, United Kingdom,  -- Benedict Peters, Executive Vice Chairman of Aiteo Group, has instructed London law firm Mishcon de Reya and Washington’s Covington & Burling to lead ongoing efforts to address politically-motivated issues.…

According to NNPC's monthly report, the Gas flare rate in Nigeria stands at 12.00 per cent. The monthly report which was released said that the 12.00 per cent gas flare rate which translates to 919.73mmscfd was at August 2017 compared to…

Oil search in the nation’s inland basins received a fresh impetus following the commencement of exploration activities in the Benue Trough by the Nigerian National Petroleum Corporation (NNPC). Group Managing Director of the Corporation,…

Monday, October 2017 - The Director of Petroleum Resources, Mr. Mordecai Danteni Baba Ladan along with members of DPR’s top management, hosted members of the Federal House of Representatives Committee on Downstream Petroleum led by its…

Residents of   Imiringi, oil and gas-rich community in Ogbia Local Government Area, Bayelsa State, have been separated from Yenagoa, the capital city and other sections of the state, following the inability of the state government to repair…

Anglo African Oil & Gas (AAOG) said it plans to drill a third well on the Tilapia oil field in the Republic of Congo. The project’s operations team has already identified a preferred rig contractor and AAOG expects to…

…Board set establish Nigerian Content Bank … says local companies default on remittance of NCDF The Nigerian Oil and Gas industry will between now and year 2027 aspire to domesticate the full capacity and capability required for the…

Your Excellency, what is your state doing in terms of exploiting its oil and gas resource endowment Bayelsa is historically the place where the story of the Nigerian oil and gas started, I have discussed with the Minister that…

Damilola Owolabi calls the shots at Dreg Waters Petroleum. A business-inclined mind from years stretching back to her University days, she shares in this interview with Orient Energy Review (OER) her humble beginnings when she incorporated…

The Nigerian Oil and Gas Industry Content Development Act (NOGICD) 2010, years after its passage, has brought about some significant gains in the nation’s local content drive in her oil and gas sector and its value chains. However, industry…

Eland Oil & Gas says its subsidiary, Elcrest Exploration and Production, has signed a rig contract with OES Energy Services to secure a rig for a new drilling programme at the Opuama field in OML 40 in Nigeria. This is coming after…

The Nigerian Minister of State for Petroleum Resources, Emmanuel Kachikwu, has revealed that the Federal Government is targeting 3million bpd within the next five years. Speaking at the ongoing 2017 Nigerian oil and gas conference in…

Shell Nigeria Exploration and Production Company Limited (SNEPCo) on Monday announced the shutting down of Nigeria’s Bonga oil field for maintenance. This aimed at ensuring a continuous optimal operation at the field. “The exercise will…