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Following reports of a pipeline explosion in Nembe, Bayelsa, Aiteo Exploration Ltd has confirmed the incident, assuring that no life was lost in the Friday explosion on the crude export pipeline which burned till Saturday. Public…
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Nigeria’s refineries posted a cumulative loss of N114.3bn in the first 11 months of 2018, latest industry data have revealed. Figures obtained from the Nigerian National Petroleum Corporation on Friday in Abuja showed that the Kaduna…
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Scores of persons are still missing in Nembe community, Bayelsa State, after a gas explosion from the Creek Trunk Line operated by the Aiteo Eastern Exploration and Production Company in the community. The explosion caused…
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US Energy Secretary Rick Perry said Thursday that anti-OPEC legislation getting renewed attention in Congress could have the unintended effect of spiking oil prices in the long term, the strongest comments against the measure on which…
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Petroleum products imports into Nigeria, slumped as just one of the 26 vessels expected into the Lagos ports between now and March 11, is conveying premium motor spirit (PMS). Latest Shipping Position released by the Nigerian Ports…
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The victory of President Muhammadu Buhari at the just-concluded polls may create stability in the nation’s economy, particularly the oil and gas sector, but challenges confronting the industry may remain. Analysis by global…
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Nigeria earned a total of N5.54tn from oil revenue last year, figures obtained from the Central Bank of Nigeria revealed. The N5.54tn revenue was earned through three major oil revenue sources. They are crude oil/gas sales,…
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Full-year 2018 Value Added Tax (VAT) data published by the National Bureau of Statistics (NBS) show Nigeria’s offshore operations have been stagnating in the last five years. Offshore operations contributed N2.20 billion to a VAT…
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A local official says more than 50 people are missing after a leaking oil pipeline exploded and caused a stampede in southern Nigeria. The Nembe Chiefs Council spokesman, Chief Nengi James-Eriworio, tells The Associated Press that…
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Group Maanaging Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru has disclosed that capital investment in Africa’s oil and gas industry will attract about $194 billion from 2018 to 2025, out of which $48…
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