Industry

Lekoil shares fell 26% on Thursday after the Nigeria-focused oil and gas company flagged the possibility of sanctions from Nigeria’s petroleum ministry over a stake purchase by Metallon, which is now Lekoil’s top investor. Lekoil said…
Read More...

The Nigerian Gas Association and other stakeholders have said the liquidity issues that hamper returns from the power sector should be speedily resolved to address legacy debts and facilitate full recovery of gas revenues from the Nigerian…
Read More...

Nigeria’s state oil firm NNPC is in talks to raise around $1 billion in a prepayment with trading firms to refurbish its largest refining complex at Port Harcourt, seven sources familiar with the discussions said. If the financing is…
Read More...

The National Oil Spills Detection and Response Agency (NOSDRA) and Environmentalists have expressed concern over the environmental impact of Conoil Producing Limited’s operations in Bayelsa. The concern were raised over the firm’s…
Read More...

The Lagos Chamber of Commerce and Industry (LCCI) has expressed fear that some provisions of the new Petroleum Industry Bill (PIB) could adversely affect growth of the industry and economy. Emphasising its support for government’s…
Read More...

Nigeria’s oil industry looks set for a difficult 2021 as a delay in implementing key legislative reforms compounds problems for a sector still reeling under the weight of OPEC+ output cuts and the impact of the coronavirus. A continued…
Read More...

The average price of Bonny Light, Nigeria’s premium oil grade, has dropped by 34.8 percent to $42.9 per barrel in the past 11 months of 2020, due mainly to the prolonged Coronavirus pandemic, drop in economic activities and oil demand. …
Read More...

Panoro Energy has announced that PetroNor E&P and Panoro have reached an agreement to extend the completion long stop date for the previously announced sale of its fully-owned subsidiaries that hold 100% of the shares in Pan Petroleum…
Read More...

The Department of Petroleum Resources (DPR) says 161 successful companies have been shortlisted to advance to the next and final stage of the bid round process for 57 marginal oilfields in the country. Mr Paul Osu, Head, Public Affairs,…
Read More...

The federal government has intensified efforts to ensure that Nigeria achieves self-sufficiency in the domestic production and utilisation of its gas resources by the first quarter of 2021. The government noted that currently, Nigeria’s…
Read More...