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A World Bank report called the “Nigeria Biannual Economic Update” for 2018, which was released on Monday and obtained by THISDAY yesterday in Abuja disclosed that Nigeria spent N731 billion to subsidise petrol consumption in the year under…
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The Petroleum Technology Association of Nigeria (PETAN) has urged Nigerians in the oil and gas industry to build capacity in order to take full advantage of the growing opportunities in the sector. PETAN, an association of Nigerian…
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Goldman Sachs has adjusted its second quarter (Q2) 2019 Brent oil price forecast upwards by 11.5 per cent from $65/barrel to $72.50/b to reflect stronger assumptions on OPEC output cuts, further tightening of U.S. oil sanctions on…
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...To leap further on Libya, other crises The price of Bonny Light, Nigeria’s premium oil grade has risen from $70 to $71.74 per barrel in the international market, the highest in 2019, as the Organisation of Petroleum Exporting…
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The Department of Petroleum Resources (DPR) has threatened to shut down erring stations and ensure that any marketer who sells petrol above N145/litre government approved price is punished. Speaking yesterday during a meeting with…
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The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has said that the country cannot afford to halt crude oil production as a result of disagreements between host communities and oil operators. Kachikwu warned that…
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Africa’s oil producers will be looking up to Nigeria’s Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, to help them attract as much as $1 billion they intend to invest in building energy infrastructure across the continent, a…
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The rising tide of light U.S. shale oil has largely swept away comparable grades of Nigerian oil from American shores and is putting them under pressure in Europe. But steady Indian and Indonesian demand has helped lift price…
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Despite its position as the second largest producer of Liquefied Petroleum Gas, LPG, industry expert have attributed blames to the government for stalling progress of LPG per capita usage in country. According to Dr. Louis Ogbeifun of…
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Vice President, Yemi Osinbajo, has said the ongoing Ogoni Clean-up/remediation efforts, the establishment of modular refineries in the Niger Delta,the Gas Flare Commercialization Programme and the Presidential Amnesty programme that has…
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