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OPEC and its allies do not rule out taking further action at their next meeting in April should oil inventories build up in the first quarter, OPEC’s secretary general told Reuters. Worried by a drop in oil prices and rising supplies,…
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The Department of Petroleum Resources and the Ministry of Petroleum Resources have denied allegations that there are irregularities in its renewal of oil and gas licenses. The DPR and the Petroleum Ministry were reacting to the decision…
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The Bayelsa State Security Council has prohibited the use of assets, personnel and security operatives on attachment to surveillance contractors of oil and gas firms for political activities in the state. The Secretary to the State…
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The strategic oil alliance led by Saudi Arabia and Russia, OPEC+, may lead to a stabilization of oil prices between $60-65 a barrel, according to a global commodities expert. Edward Morse, Global Head of Commodities Research at…
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The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote, has called for better collaboration among players in the Nigerian oil and gas industry. He also canvassed similar measures among…
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The Central Bank of Nigeria, CBN is supporting private enterprises in the country. It has got programmes that have given fillips to this administration’s special interventions. They are critical investments with some of them venture…
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President Muhammadu Buhari, being Nigeria’s substantive minister of petroleum resources, has approved the renewal of 22 expired and expiring oil blocks, from which the Department of Petroleum Resources (DPR) realised about $1 billion for…
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LEKOIL (AIM: LEK), the oil and gas exploration, development and production company with a focus on Africa, provides an update on OPL310 (the “Block”) with reference to the Company’s Application for a Declaration regarding Ministerial…
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The three tiers of the Nigerian government, consisting of Federal, States and Local Councils, on Friday shared about N649.198 billion as statutory allocations from Federation Account for December 2018. The allocation includes…
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In the Ago Egun Bariga area of Nigeria's commercial capital, Lagos, there is no road, no electricity, no running water and no rubbish collection. Now that high grass has blocked access to the water, there is no work either. The…
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