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Operator Royal Dutch Shell lifted the force majeure in place on exports of major Nigerian grade Bonny Light, as tight global oil supply encourages sellers of Nigerian crude to offer many varieties at all-time high prices. Feeding the…
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Nigeria and other countries will account for 53 per cent of fossil fuel in use by 2040, Seplat Petroleum Development Company Plc Chief Executive Officer, Mr Austin Avuru, has said. Fossil fuel, also known as hydrocarbon fuel is derived…
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Rivers State Governor, Nyesom Ezenwo Wike, has accused the General Officer Commanding (GOC), 6 Division of the Nigerian Army, Major General Jamil Sarhem of running an illegal oil bunkering squad. The governor said the purpose of the…
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The Managing Director and Chief Executive Officer, Financial Derivatives Company Limited, Mr Bismarck Rewane, has said fuel subsidies are a huge drain on government’s revenue. Rewane stated this in his presentation at the Lagos Business…
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The Nigerian National Petroleum Corporation (NNPC) has disclosed that it recorded savings of $1.6 billion from the arbitration between its upstream flagship subsidiary, the Nigerian Petroleum Development Company (NPDC) and the Atlantic…
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The Eko Petrochemical Refinery Ltd., to be built at a cost of $250 million (about N90 billion) will create over 5,000 direct and indirect jobs when completed. The Chairman of the company, Capt. Emmanuel Iheanacho, made this known to the…
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The ongoing Assa North/Ohaji South gas development project in Imo State, South-East Nigeria, will produce 600 million standard cubic feet of gas per day, energy equivalent of about 2,400 Megawatts which is enough to provide uninterrupted…
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Manchester City have received a piece of bad news after winning the English Premier League as the European football governing body, UEFA, may ban the Pep Guardiola led team from the Champions League. Manchester City have been under…
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Nigeria will contribute 46% of sub-Saharan Africa’s total crude production from planned and announced projects (greenfield projects) in 2025, according to GlobalData, a leading data and analytics company. The company’s report: ‘H1…
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There are indications that Nigeria has lost significant oil as a result of increasing pipeline vandalism and oil theft in the Nigeria Delta. Investigation by Vanguardover the weekend showed that many oil companies, including the…
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