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The Nigerian Petroleum Development Company is making efforts to raise $3.15bn through third party financing to develop the country’s oil and gas reserves from Oil Mining Lease 13, PUNCH reports The flagship subsidiary of the…
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The best time for the Federal Government to totally stop subsidy on petrol and completely deregulate the downstream sector is now when global crude oil prices are still trading low, economy and energy experts have said. Brent crude, the…
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A massive hike of 240 per cent in the prices of petrol and diesel goes into effect today in Zimbabwe. Petrol was selling for 1.32 dollars (N481) per litre before Sunday’s hike. Now, it will be sold at $3.31 per litre. However, its…
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The Human and Environmental Development Agency (HEDA) as part of ongoing investigation into the controversial $1.1bn OPL 245 deal popularly known as Malabu scandal, has written the Netherlands Minister of Justice, expressing concerns over…
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The Dangote Oil Refining Company (DORC) Ltd. has taken delivery of one of the major components of its refinery equipment, the Regenerator for the Residual Fluid Catalytic Cracker (RFCC). Mr. Rama Putta, the Head of Quality…
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An overturned oil tanker exploded in Odukpani, Cross River State, South Southern Nigeria, while dozens of people were scooping up the leaking fuel, killing at least 12 people, police and witnesses said, with locals putting the number many…
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The Department of Petroleum Resources on Thursday declared that it had given a grace period of three months for all illegal filling stations and gas plants to regularise their facilities or face the full wrath of the law. It disclosed…
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Eland oil and gas Plc, is hopeful that the Gbetiokun is expected to yield 15,000 barrels of oil per day, bopd from its early production system. The company’s chief executive, George Maxwell said, the Gbetiokun field has the potential to…
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With share price which rose by 9.95 per cent to close at N34.35 per share on Thursday against N31.25 on December 24, 2018, Forte Oil’s shares remained strong despite the announcement by its major shareholder, Mr. Femi Otedola, to divest 75…
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Reports have it that Dangote Refinery has taken delivery of a gigantic distillation component. It is learnt that the component is one of the biggest in the world as the refinery is billed to start producing PMS and allied products later…
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