Industry

-By Gideon Osaka The Nigerian economy has always thrived with huge revenue generated from the oil sector. It is said that revenues from oil sector accounts for over 70% of the country’s foreign exchange earnings. However, with the…
Read More...

-By Gideon Osaka There are fears that global exploration and production, E&P expenditures will decline 27 per cent in 2020, a 3,000-bps (basis point) turnaround from the 2 per cent increase in spending anticipated in December. …
Read More...

-By Gideon Osaka The Organisation of Petroleum Exporting Countries plus, OPEC+ is set to ease deep production cuts in August without hurting the rally in oil prices. The group plans to gradually open the taps next month, adding at…
Read More...

-By Gideon Osaka Nigeria’s rig count for the month of June increased by one having recorded nine as against eight recorded in May. This is coming at a time the Organisation of Petroleum Exporting Countries, OPEC posted a minus 18 rig…
Read More...

An indigenous oil service company, Ezion Geber Energy, has been appointed to officially represent Norwegian firm Connector Subsea Solutions (CSS) contracted to support current offshore projects in Nigeria. Announcing the collaboration…
Read More...

The Nigerian National Petroleum Corporation, NNPC, Thursday, said it has concluded plans to rehabilitate and build new plants, as all the four refineries are currently down, thus forcing the government to import petroleum products from the…
Read More...

Nigeria’s highest and unacceptable crude oil production cost comes from indigenous oil firms, the Group Managing Director, Nigerian National Petroleum Corporation, Mele Kyari, said on Thursday. Kyari, who said this during a Seplat…
Read More...

Last year was a “pivotal year” for Savannah Energy, the company has said announcing its 2019 preliminary results, as revenues flowed from its Nigerian portfolio. Savannah reported $16.9 million of gas sales and $0.9mn of liquids sales…
Read More...

The Nigerian National Petroleum Corporation (NNPC) has revealed plan to deliver about 5Gigawatts (GW) or 5,000 Megawatts (MW) of electricity by 2022. According to the NNPC, this prediction is based on the commencement of the…
Read More...

As part of the Federal Government’s strategies to reposition the gas sub-sector, the Ministry of Petroleum Resources has commenced the implementation of critically conceived initiatives to foster efficiency and attract investment along the…
Read More...