Industry

Total Nigeria Plc has projected a rise in its revenue to N115.97 billion for the first quarter of 2021 (Q1, 2021), indicating a 157.7 per cent increase from the figure recorded in Q3 2020. This is according to the latest earnings…
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Nigeria’s crude and condensate output in December fell 9% month on month to 1.52 million b/d, data from the Department of Petroleum Resources — the oil industry regulator — showed, hit by production problems at key export grade Qua Iboe. …
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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…
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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…
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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…
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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…
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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…
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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…
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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. …
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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…
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