News

Credit rating agency Moody’s slashed its global economic and oil forecasts again on Tuesday, predicting ongoing coronavirus lockdowns would now see the G20 group of major economies contract 4% this year before bouncing back 4.8% in 2021. …
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The Nigerian National Petroleum Corporation (NNPC) has released its crude official selling prices (OSPs) for May, cutting values for all its grades from the decades-lows in April. According to a news report sourced from argusmedia.com,…
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With the impact of the coronavirus compounding oil and gas industry challenges, governments in Nigeria and other African countries have been urged to extend the implementation of Production Sharing Contracts (PSCs), and work program…
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Nigeria Liquefied Natural Gas (NLNG) and Angola’s LNG project are offering three cargoes of lique­fied natural gas in the internation­al market in the midst of drop in the price of crude oil. NLNG is offering two cargoes next month,…
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Okoroma Clan in Nembe Local Government Area of Bayelsa, on Monday, issued 14-days ultimatum to the Nigerian Agip Oil Company, NAOC, to renew a MoU with the clan, or have their operations in the area shut. Indigenes of Okoroma clan under…
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President Muhammadu Buhari has approved the phased and gradual easing of the lockdown in Lagos and Ogun states as well as the Federal Capital Territory, Abuja. He said this in a nationwide address this evening that "In line with the…
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This is according to a statement by Mr Femi Adesina, special adviser to the president on media and publicity. In his communique, the media aide urged all television, radio and other electronic media stations to hook up to the network…
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Many people are feared trapped as a Nigerian National Petroleum Corporation (NNPC) gas station and about five residential buildings have been gutted by fire. The outbreak which started around 1pm at College Road, was caused by a petrol…
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Nigerian crude producers are having a rough time due to the sliding crude oil prices, as they have started counting their losses.  These oil companies produce a fifth of the total crude supply by the Africa’s largest…
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The Nigerian National Petroleum Corporation (NNPC) has said that the country exported oil and gas worth about $5.18 billion in the last one year, spanning between January 2019 and January 2020. In the same vein, the corporation revealed…
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