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The Petroleum Products Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation, has increased the ex-depot price of Premium Motor Spirit, also known as petrol, to N155.17 per litre from N147.67 per litre. …
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Transnational Corporation of Nigeria Plc (Transcorp) announced today that it has entered into an agreement with Sacoil Holdings Limited (now Efora Energy Limited, “Efora”) to settle all existing legal disputes around its Oil Prospecting…
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With the continued delay in the passage of the Petroleum Industry Bill (PIB) leading to a frigile fiscal regime mired by uncertainty, the African Energy Chamber (AEC), has said Nigeria and other African countries should expect a capital…
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The Commissioner for Lagos State Ministry of Energy and Mineral Resource, Olalere Odusote, has said the government is working aggressively towards actualising a gas agenda that promotes expansion and utilisation in the state. Olalere,…
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The Gulf of Guinea, GoG, late yesterday recorded fifth pirate attacks within six days as report just released by Dryad Global, indicates that a Marshall Island flagged vessel, M/T LA BOHEME was last night at 2036 UTC, attacked by 2 skiffs…
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The Nigeria Liquefied Natural Gas (NLNG) Limited says it will increase its allocation of Liquefied Petroleum Gas (LPG) to the domestic market from 350, 000MT to 450, 000MT by 2021. The NLNG said the move was aimed at supporting the…
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Crude oil prices recorded impressive gains amid high hopes that leading oil producers will suspend plans on increasing oil supply. The recorded impressive gains in barely four days, gained as much as 12% amid high hopes that the world’s…
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The Nigerian National Petroleum Corporation (NNPC) and First Exploration and Petroleum Development Company has commenced oil production from Anyala Field located in Oil Mining Leases (OMLs) 83/85. This was disclosed by NNPC via its…
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Coronavirus vaccines are expected to boost international passenger transportation and oil consumption, but the first significant impact will not be felt until well into the second half of 2021, based on futures price movements on Monday. …
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Nigeria earned N2.405 trillion from the oil and gas sector in the first six months of 2020 and N2.92 trillion in 2019, totalling N5.32 trillion in one and half years, from January 2019 to June 2020. The N2.405 trillion in the first six…
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