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The Minister of State for Petroleum Resources, Timipreye Sylva has disclosed that the Petroleum Industry Bill (PIB) may be passed into law by the first quarter of 2021.Sylva explained that he is not saying categorically and…
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Statistics from the Organization of the Petroleum Exporting Countries, OPEC, have shown that Nigeria grew its natural gas production to 47 billion standard cubic meters, bscm, from 2015 to 2019.The annual statistics report for 2020 by…
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The Nigerian National Petroleum Corporation, NNPC, Friday, said oil marketers who patronise its online platform would purchase the product at N153.17 per litre, despite the increase in the Ex-depot price of Premium Motor Spirit, PMS, to…
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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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Nigeria and four other oil producers on the continent could each be facing $20billion or more in lost export revenue this year as global oil demand is estimated never to exceed 2019 levels, with energy markets having reached a tipping…
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Talks between OPEC and its allies are zeroing in on a delay to next year’s planned oil-output increase of three to six months, according to several delegates.Saudi Arabia and Russia, leaders of the 23-nation coalition, have already…
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A lawsuit launched by the Nigerian government against U.S. bank JP Morgan Chase, claiming over $1.7 billion (1.29 billion pounds) for its role in a disputed 2011 oilfield deal, will proceed to trial, London’s high court ruled on Thursday. …
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LEKOIL (AIM: LEK), the oil and gas exploration and production company with a focus on Nigeria and Africa, announces that LEKOIL Oil and Gas Investments Limited (“LOGL”), in which the Company has a 90 per cent. economic interest, has fully…
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The Federal Government is optimistic that incorporating digitization ion oil production process is key to reducing the huge Unit Operating Cost (UOC) of producing crude oil in the country to $10 per barrel by December 2021.Technical…
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Energy management giant, Schneider Electric, has signed up a new distributor, Okelco Global Resources for its products in Port Harcourt, Rivers State.The distributor is expected to cater for the distribution of Schneider Electric's…
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