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Kuwait joined Saudi Arabia on Monday in announcing fresh oil production cuts to be implemented in June, state news agency KUNA reported, citing Oil Minister Khaled al-Fadhel. Kuwait will slash production by 80,000 barrels per day in…
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Saudi Arabia announced a surprise move to slash oil output to the lowest in 18 years as it tries to spur the recovery from an energy crisis that has devastated the kingdom’s finances. Just hours after unveiling a slew of…
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The Nigerian Content Development and Monitoring Board (NCDMB) has concluded arrangements to hold a session of Spotlight Webinar where oil and gas stakeholders are expected to share insights about opportunities in the industry. The…
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The Independent Petroleum Marketers Association of Nigeria (IPMAN), on Saturday decried the proposed merger of three agencies in the petroleum industry. The agencies are: Petroleum Technology Development Fund (PTDF), Petroleum Products…
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Economies are opening up, however, the recovery is gradual and will take some time for oil prices to hit pre-COVID-19 levels. After months of dwindling demand and fluctuations in crude oil prices, which had crashed below $0 at a point,…
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The Nigerian National Petroleum Corporation, NNPC, has said lack of production from the country’s four refineries is due to ongoing rehabilitation works on the facilities. The explanation came since the refineries had not refined a…
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The President, Independent Petroleum Marketers Association of Nigeria (IPMAN), Mr. Chinedu Okoronkwo said on Sunday that members have started buying Premium Motor Spirit (PMS) also known as petrol at N108 ex-depot price as announced by…
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Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mele Kyari, has debunked reports that Nigeria has shut in its oil production as a result of the current market situation. He made the clarification in an…
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Nigeria’s ambitious liquefied national gas project, the NLNG Train 7 has run into a new obstacle namely falling global demand. The $12 billion project, which has faced several years of delay is expected to complement the existing…
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A total of 253.09 Billion Cubic Feet (BCF) of natural gas was produced in January 2020 translating to an average daily production of 8164.23 Million Standard Cubic Feet per Day (mmscfd). The Nigerian National Petroleum Corporation…
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