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The licence of a joint venture partner in Oil Mining Lease 11 has not been revoked as speculated but stakeholders are concerned about the recent presidential directive on the operatorship of the oil block. The licence for Oil Mining…
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The Nigerian National Petroleum Corporation (NNPC) has said that 1.80billion litres of petrol, translating to 58.17m litres a day, were supplied in December 2018. The details of the product supply were captured in the corporation’s…
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OPEC Secretary General Mohammad Barkindo said on Sunday that compliance with a supply cut agreement between OPEC and non-OPEC members was improving, and that this would help the oil market to weather through the build up of oil…
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Korean shipbuilding giant, Samsung Heavy Industries (SHI) has transformed Nigeria into a hub for fabrication and integration of Floating Production Storage Offloading (FPSO) unit in Africa, the Nigerian Content Development and Monitoring…
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Saudi Arabia’s Energy Minister, Khalid Al-Falih, has said that member countries of the Organisation of Petroleum Exporting Countries (OPEC) and its allies led by Russia still have a lot of work to do to balance global oil markets, and are…
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Talk of a man who sees opportunity in strange and dangerous places in Africa, the name Dangote may be within the first 10. Dangote, the richest man in Africa is leaving no stones unturned in making sure that the Dangote Refinery comes to…
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The Nigerian National Petroleum Corporation (NNPC) today (Sunday) released its December 2018 financial and operations report, which indicates that it posted a trading surplus of ₦12.13 billion, a development it said sprang from the success…
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The news broke last week through a memo signed by the Chief of Staff to the President, Abba Kyari, on behalf of the Presidency directing that the Nigeria National Petroleum Corporation (NNPC) take over the Oil Mining Lease (OML) 11 from…
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A call has been made to oil firms operating in Rivers State to invest massively in human capacity development, in order to produce the needed manpower to drive the economy of the country and complement government’s efforts to improve…
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OPEC’s secretariat urged oil producers to keep going with efforts to prevent a surplus this year, as supplies from their rivals increase faster than world demand. Key OPEC members and their allies will meet this weekend in Baku,…
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