Industry

The House of Representatives Committee on Gas Resources has applauded the Mallam Mele Kyari-led Management team of the Nigerian National Petroleum Corporation (NNPC) for its achievements in the areas of gas infrastructure development, gas…
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As the Coronavirus (COVID-19) pandemic hits global crude oil demand, a fresh indication has emerged that, no fewer than 14, 000 staff of ExxonMobil will lose their jobs. This is coming as the corporation disclosed plans to cut its…
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Shell, today, announced a cash allocation framework that will enable it to reduce debt, increase distributions to shareholders, and allow for disciplined growth as it reshapes its business for the future of energy. Ongoing work to reshape…
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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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