Industry

Attempts by hoodlums to vandalize wellheads belonging to the Nigerian Agip Oil Company, NAOC in Olodiama community, Southern Ijaw Local Government Area of Bayelsa State, has been thwarted by operatives of a private security firm, Dalon…
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Axxela Limited(Axxela), has been accorded favourable national scale issuer ratings of BBB+(NG) and A2(NG) in the long term and short term by Global Credit Ratings (GCR). The ratings are valid until September 2021 and were ascribed due…
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In October 2016, 11 PLC, which was known as Mobil Oil Nigeria Plc, now hopes to delist its more than 360.592 million ordinary shares from the daily official list of the Nigerian Stock Exchange (NSE) by the end of the first quarter, in…
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French multinational oil company, Total has said it would change its name from Total to TotalEnergies to emphasise its strategy to become a net-zero emissions company.The firm says the decision show its commitment to cleaner energy. …
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Minister of State for Petroleum Resources Chief Timipre Sylva has said the Federal Government revoked the licence for the Atala Marginal Oilfield (OML 46) because it was dormant for many years. Sylva said the Bayelsa State government…
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Nigeria sold $2.89 billion worth of oil and gas between November 2019 and November 2020, the Nigerian National Petroleum Corporation has said. The country suffered significant loss of revenue in 2020 due the fall in oil prices as a…
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The Department of Petroleum Resources, (DPR) yesterday said the Federal Government stands to rake $500m from the ongoing signature bonuses to be awarded to 57 marginal oil fields in the country. A Director of DPR, Sarki Auwalu, who…
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•Similar situation happened in 2016 to 2019 •As DPR blames third party for crude theft in land terminals The House of Representatives on Wednesday affirmed that crude oil worth over $20 billion could not be accounted for between…
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The Department of Petroleum Resources (DPR) has clarified the process it uses for accounting for crude production in the country, noting that most incidents relating to oil theft occurs from the land terminals. A statement issued on…
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Abia, Akwa-Ibom, Bayelsa, Delta and four other oil-producing states in the country, received N6.59 trillion from the 13 per cent derivation fund from the Federation Account from 2009 to 2019, according to a report published by ACIOE…
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