News

The oil market collapse caused by the Covid-19 pandemic is set to delay several oil and gas developments in Western Europe, putting capital expenditure in the offshore sector on a continued downwards trajectory through 2022. In light of…
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Nigeria has tracked down and grounded the luxury private jet purchased by its former oil minister, Dan Etete, with some of the alleged proceeds of the notorious $1.3 billion Malabu OPL245 oil deal. Asset recovery lawyers acting for the…
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The Nigerian National Petroleum Corporation (NNPC) is taking measures to bring down cost of crude oil production to $10 per barrel or below, the Corporation’s Chief Operating Officer (COO), Ventures and Business Development, Mr. Roland…
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The US drilling rig count fell 17 units, reaching 284 rigs working for the week ended June 5, according to Baker Hughes data. The count is down 677 units from the 948 rigs working this time a year ago. The US drilling rig count fell 17…
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The Nigerian National Petroleum Corporation (NNPC) has raised an alarm over prevalent low grade and contaminated AGO, otherwise called, diesel offered at discounted prices in parts of the Country. The warning was contained in a report…
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Indigenous players that stand in the frontline of the newly launched marginal bid round are not impressed with the management of the much awaited opportunity, pointing at the prevailing low demand and low price cycle in the global oil…
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An Iranian cargo ship named Behbahan sank off the Iraqi coast on Thursday night, Iran’s Ports and Maritime Organization (PMO) published on its website on Friday quoting a PMO official as saying. Nourollah As’adi, the director-general of…
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Total has entered into an agreement with SSE Renewables, to acquire a 51% stake in the Seagreen 1 offshore wind farm project for an upfront payment at closing of 70m£ and earn-outs up to 60m£ in aggregate subject to performance conditions.…
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…Mulls over Partnership with Developers to Reduce Nation’s Housing Deficit As part of measures to cope with the boom and bust cycle in the global crude oil market and to sustain revenue generation for the Country, the Nigerian National…
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Nigeria expects to have all complete bids for marginal oilfields within 10 weeks, the director of the Department of Petroleum Resources (DPR) said on Wednesday. On Monday, Nigeria launched its first bidding round for marginal fields –…
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