News

The Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has stated that only proper fiscal framework can facilitate and accelerate new oil field licensing round bid in the country. Kyari said without…
Read More...

The Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has warned oil companies, both indigenous and international, against padding crude oil cost production in other to remain competitive and also…
Read More...

Nigeria will cut production costs to $10 per barrel by the end of 2021, Nigerian National Petroleum Corp. (NNPC) managing director Mele Kyari has said. Costs have been too high for too long, the official said, pledging that costs would…
Read More...

…Hails Nigerian Content Accomplishments The Minister of State for Petroleum Resources, Chief Timipre Sylva on Tuesday in Abuja inaugurated the new Governing Council of the Nigerian Content Development and Monitoring Board (NCDMB), with…
Read More...

Thousands bid farewell ahead of funeral of the black man whose death inspired worldwide anti-racism protests. George Floyd, whose death sparked worldwide protests, will be laid to rest on Tuesday, next to his mother Larcenia…
Read More...

China’s province of Shandong – home to most of the country’s independent refiners – plans to shut down as much as 500,000 bpd refining capacity at the so-called teapots as it pushes forward with a huge US$20-billion refinery and…
Read More...

The US Treasury Department on June 8 designated 121 tankers, container ships and other vessels owned or tied to Iranian shipper IRISL for additional secondary sanctions, but the action is expected to have limited impact on crude and oil…
Read More...

*UK group to shed 15% of workforce as Covid-19 accelerates broad strategic shift BP plans to cut 10,000 jobs as coronavirus hits the company’s finances and accelerates a strategy shift under the new chief executive to transform the UK…
Read More...

Accugas Ltd, the gas supplier to the Calabar Generation Company Limited, has issued the dreaded “notice of non-payment” to the Nigerian government over outstanding invoices to the tune of $15.8 million, TheCable can report. This is the…
Read More...

Companies, including their promoters, indebted to the Federal Government will not be allowed to participate in the newly launched bid round for marginal oilfields, the Department of Petroleum Resources (DPR) has said. The DPR, in a…
Read More...