Industry

LEKOIL (AIM: LEK), the oil and gas exploration and production company with a focus on Nigeria and Africa, today announces that it has entered into a Strategic Alliance Agreement (“SAA”) with NAMCOR Exploration and Production (PTY) Limited…
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The Nigerian National Petroleum Corporation (NNPC) yesterday attributed the prolonged neglect of overhauling the refineries in the country to the delay in making them functional. It declared the refineries as damaged beyond the usual…
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If there is one thing transparency does to any organization apart from showcasing its honesty and integrity, it helps to boost its performance; it helps to put its managers on their toes to do their best knowing that there is no room to…
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Nigeria has for two months now continued to experience rise in oil production as its rig count moved up by two, having recorded 10 in September, as against eight recorded in August. Earlier in July, the rig count stood at six, data from…
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The total net value of the NNPC’s oil and non-oil assets appreciated by 18.5 per cent to N4.67 trillion in 2019, from N3.94 trillion recorded in its 2018 financial year. In the financial statement, the NNPC put the cost of the assets as…
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The Department of Petroleum Resources (DPR) has said that the 5,000 barrels per day (bpd) Waltersmith modular refinery project is fully ready for operations. The Director of DPR, Sarki Auwalu, who stated this during a pre-commissioning…
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The Federal Ministry of Petroleum Resources has employed the services of Franklin Wyatt, a litigation settlement specialist, to take part in the talks with Eni S.p.A in a long-running dispute over oil rights and bribery allegations. …
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Escalating tensions sweeping through Nigeria haven’t yet disrupted crude flows from Africa’s biggest oil producer in any meaningful way. A wave of protests against police brutality have taken place in the past few weeks, triggering a…
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Exxon Mobil Corp, has confirmed plans to lay off an unspecified number of employees as low oil prices force the company to delay major projects, its chief executive officer, Darren Woods said in an email to staff. Woods also mounted an…
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The Federal Government plans to set up Nigerian Midstream and Downstream Petroleum Regulatory Authority to regulate operators in midstream and downstream oil industry, under the new Petroleum Industry Bill (PIB). The News Agency of…
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