Industry

Nigeria’s state oil company signed a preliminary agreement to end a dispute with two energy companies over oil exports, signaling a move toward resolving similar disagreements with other oil majors on revenue from several offshore oil…
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The minister of state for petroleum resources Timipre Sylva has said that more private and public sector collaboration will be encouraged as the country steps up effort to realise its target of boosting domestic gas utilisation. The…
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The Nigeria National Petroleum Corporation, China’s CNOOC Ltd and South Atlantic Petroleum signed a preliminary agreement to resolve a dispute over Oil Mining Lease 130, the West African state oil firm said on Thursday. NNPC said on its…
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The National Oil Spill Detection and Response Agency (NOSDRA) disclosed that the value of gas flared by oil and gas companies from January to June 2020 worth about $445.7m. NOSDRA stated that 222.8 billion standard cubic feet (bscf) of…
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One of Nigeria’s most eminent petroleum industry maestros, Mr. Austin Avuru, who just retired from the position of Chief Executive Officer at Seplat Petroleum Development Company Plc, will soon be setting up a holding company for his vast…
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The devastating effects of the coronavirus have taken a terrific toll on many local and international firms with their financials dipping in the second quarter of this year. The huge drop in crude oil demand resulted in the…
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The Managing Director of Petrocam Trading Nigeria Limited, Mr. Patrick Ilo, is optimistic that the future of global oil and gas industry is bright. Notwithstanding the COVID-19 pandemic, he is optimistic of a boost in the demand and…
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The Nigerian National Petroleum Corporation (NNPC) has recorded an encouraging 43 per cent drop in cases of willful damage of its oil pipeline infrastructure by suspected oil thieves in May, 2020. The corporation, in a release by its…
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The United Bank for Africa, UBA, Plc has announced a $200 million facility support to boost Nigeria’s crude oil production capacity. The facility is part of a $1.5 billion Pre-Export Finance Facility provided by consortium of Nigerian…
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Construction of the $12 billion Dangote Refinery, which has the capacity to refine 650,000 barrels per day/bpd, has reached 71 percent completion stage. The Department of Petroleum Resources, DPR, stated this in its latest report-- List…
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