NNPC Ltd, Joint Partner Begin 12,000bpd ProductionTuesday, April 23, 2024
The Nigerian National Petroleum Company Limited (NNPC Ltd.) and its Joint Venture partner in the Awoba Unit Field, Newcross Exploration and Production Ltd., have restarted production from the Awoba field which last contributed production to the Bonny Terminal in 2021 and was finally shut down in Feb ...
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You Can Now Pay Naira For Crude Oil— FG To Dangote, Other Domestic RefineriesTuesday, April 16, 2024
The federal government has complied with the demands of domestic crude oil refiners and other operators in the sector, as it declared on Monday that indigenous refineries can now buy crude oil in naira or dollars. It also declared that the total crude oil and condensate reserves in Nigeria increa ... |
NCDMB Parleys Chevron, Recommits To Fast-Track Approvals Of Oil Industry ProjectMonday, March 18, 2024
The Nigerian Content Development and Monitoring Board (NCDMB) has restated its commitment to accelerated approvals of requests and documents submitted to it by operating oil and gas companies. The goal is to ensure speedy development of oil and gas projects and contribute to increased oil production ... |
$575Bn Investment Being Expected As Federal Government Inaugurates Gas InfrastruSaturday, March 9, 2024
Huge investment in the country rsquo;s gas sector is being anticipated after the Governing Council of the Midstream and Downstream Gas Infrastructure Fund, was Friday inaugurated. The Council has the mandate to bring investors with the target of attracting $575bn investments in the Nigerian gas s ... |
Goldman Sachs Raises Brent Oil Summer Price Forecast To $87 Per BarrelWednesday, February 28, 2024
Oil prices are expected to rise this summer, according to Goldman Sachs, which has revised its forecast for Brent crude oil to $87 per barrel. This is $2 higher than their previous prediction and is due to faster-than-anticipated declines in oil inventories on land. These declines are a re ... |
Bonga Oil Field: Shell Assures Of More Oil ProductionSunday, February 18, 2024
To Deepen Energy InvestmentUche Cecil Izuora Energy giant, Shell is working to extend the life of the Bonga Floating, Production, Storage, Offloading (FPSO) vessel for another 15 years to handle more production from Nigeria rsquo;s first deep-water development which came on stream in November 2005. ... |
Navy Uncovers Illegal Refinery With 2.7 Million Litre Capacity In Rivers StateWednesday, February 14, 2024
The Nigerian Navy Ship, NNS Pathfinder, has made a significant discovery in Bokokiri, Ke community, Degema Local Government Area of Rivers State, uncovering 15 illegal refinin ... |
Sabotage Confirmed As Cause Of Recent Shell Pipeline Oil Spill In Nigeria, NOSDRThursday, January 25, 2024
PORT HARCOURT, Nigeria ndash; In a significant development, Nigerian authorities have officially confirmed that the recent oil spill a ... |
Concerns Arise Over International Oil Companies’ Exit From Nigeria’s Onshore OilFriday, January 19, 2024
Former SPE President Warns of Long-Term Impact on Economy and Workforce The recent exit of International Oil Companies (IOCs) , notably Shell, from Nigeria rsquo;s onshore oil business has raised concerns about the long-term implications for the nation rsquo;s economy and workforce, accord ... |
Federal Government To Offer 12 Oil Blocks In New Oil Bid RoundFriday, January 19, 2024
The Nigeria Upstream Petroleum Regulatory Commission, NUPRC, has announced plan to unveil a new oil bid round during which 12 blocks in the continental shelf and deep offshore will be offered to bidders. This was disclosed in Lagos on Thursday by the Commission Chief Executive Officer, CCE, of th ... |
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