OIL & GAS

Nigeria’s crude oil production is expected to rise by 40,000 barrels per day, as Shell Nigeria Exploration and Production Company Limited, SNEPCo, recently commenced production from the first well at the Bonga North West deep-water development offshore Nigeria.   This …

The management of Emirates Airline operating in Nigeria has said it has connected Abuja, the Nigeria’s capital to its worldwide network destination adding that the Emirates Global Network connection to Abuja is the 26th in Africa and 144th in the …

The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has said some stakeholders are resisting reforms targeted at making the sector investor-friendly and more efficient. This position is, however, contrary to insinuations by some stakeholders that the Federal Government is dragging …

Governor Seriake Dickson of Bayelsa State has advocated stringent environmental laws to protect the environment against crude oil pollution and other activities embarked upon by oil exploration companies in the Niger Delta. The governor, according to a statement from the …

The Governor Lagos State, Mr Babatunde Raji Fashola in his address last week at an event organised by National Annual International Conference and Exhibition (NAICE) at Eko Hotel Lagos tagged ‘Africa’s Energy Corridor: Opportunities for Oil and Gas Value Maximization …

Barely a week after the Nigerian Navy handed 25 suspected oil thieves, including foreign nationals, to the Nigeria Security and Civil Defense Corps (NSCDC) for prosecution, the navy has again apprehended 11 Indian nationals, three Ghanaians and two Nigerians in …

The supply of Liquefied Petroleum Gas (otherwise referred to as cooking gas) to the Nigerian market by the Nigeria Liquefied Natural Gas Limited is currently being limited by the low utilisation of the products by Nigerians. The NLNG is claiming …

  Signing into law of the Nigerian Content Act in year 2010 was one of the best things to have happened to Nigeria’s oil and gas sector. In fact, the law has exposed Nigeria and Nigerians to many opportunities that …

Indications have emerged that Nigeria’s gas demand would hit 4,000 million standard cubic feet per day (mscfpd) mark, by 2016, from about 3,000 mscfpd in 2014. The Managing Director, Pipeline Products Marketing Company (PPMC), Haruna Momoh, who disclosed this to …

Four persons, in an oil bunkering ship, were last week arrested by Benin Republic authorities after a failed attempt to illegally export about 35,000 metric tons of crude oil believed smuggled from Nigeria. Luck ran out on the quartet suspected …

  High freight rates and rising output of light, sweet oil from Libya deterred buyers in the spot market on Thursday last week, with tens of millions of barrels of crude oil for August still available. Sellers have been struggling …

Nigerian oil and gas firm Seplat said last week, its half-year pretax profit fell to $156 million, down 26 percent from $210 million a year earlier. Gross revenue also fell 7 percent to $388 million during the period to June …

The country’s largest oil-producing company, the Shell Petroleum Development Company (SPDC), has been given a 30-day ultimatum by the Nembe community in Brass Local Government Area of Bayelsa State to shut down its operations for failing to abide by the …

Toronto-listed Oando Energy Resources Inc. (OER), a company focused on oil and gas exploration and production in Nigeria, has announced the completion of the acquisition of Medal Oil Company Limited. The purchase price of $5 million was satisfied by the …

The Governor of Delta State, Dr Emmanuel Uduaghan, has said that the Federal Government must take urgent steps to ensure speedy diversification of the nation’s economy if it hopes to achieve sustainable growth and development. Uduaghan spoke last week in …

As part of the effort to boost LPG utilisation in the country, the Nigerian Independent Petroleum Company (NIPCO) has taken its switch to gas campaign to the next level with the empowering large number of women in the ancient town …

The Federal Government has advised International Oil Companies (IOCs) operating in the country to abide by the provision of Coastal and Inland Shipping (Cabotage) Act 2003 or be prepared to face sanction. Speaking at a one-day forum in Lagos recently, …

There are indications that investors in the energy sector would pull about $1.25 trillion into Africa’s petroleum industry beweent 2001 and 2030.   A new KPMG report obtained by newsmen, which corroborated the investors’ estimate, said the continent is home …