COVID-19 may further derail oil licensing round bids this year
Strong indications are rife that the planned oil and gas licensing round bids planned to hold this year may not be a reality after all. Before now, both the Minister of State for Petroleum Resources, Chief Timipre Sylvia and the…
NNPC silent on reviving refineries in Q1, gives stats on lube, fuel, others
Since the beginning of the first quarter of 2020, which is winding up in few days, the Nigerian National Petroleum Corporation (NNPC) had not given any clear update to Nigerians on the repair status of each of the national refineries….
Heaps of prepaid meter applications rot at Discos—Report
A new report released by Business Hilights Intelligence Unit (BHIU) on Sunday, 22 March 2020, has shown that contrary to the claims of Nigerian Electricity Distribution Companies (Discos) and Association of Nigerian Electricity Distributors’ (ANED) that they have been fastening…
Oil on seeming recovery as Trump intervenes in Saudi-Russia price feud
Oil extends recovery as Trump hints at intervening in Saudi-Russia price war – Oil prices recovered further on Friday, following steep gains in the previous session after U.S. President Donald Trump hinted he may intervene in the price war between…
Chevron Nigeria denies COVID-19 infection of staff in Nigeria
Leading oil and gas exploration multinational, Chevron Nigeria Limited (CNL), operator of the joint venture between the Nigerian National Petroleum Corporation and CNL has made it clear that none of its employees has contracted the COVID-19 (Coronavirus) infection. In a…
N1.7tn 2019 subsidy would have built 5,000MW plant, refinery, industrial parks—SPE
The Society of Petroleum Engineers (SPE) has argued that the N1.7tn spent by the Federal Government on petrol subsidy in 2019 was enough to fund the generation of 5,000 megawatts of power, construct two petrochemical plants or build two industrial…
Oil pares gains as investors wait to see if coronavirus stimulus works
Oil prices rose on Thursday but pared early gains as investors tried to assess how effective massive stimulus by central banks will be in shoring up the global economy as the shock from the coronavirus pandemic deepens. Bucking panic selling…
Rosatom’s subsidiary earns $7bn from electricity sales in 2019
Largest power generating group in Russia and Rosatom subsidiary tasked with operating Russian nuclear power stations, Rosenergoatom Thursday announced that its revenue reached a record $7.01 billion (453.3 billion roubles) in 2019. Statistics further showed that within the period under…
FG frustrating self in oil bidding rounds with non-passage of PIB—Fawibe
Seasoned oil and gas technocrat with long years of experience at the NNPC and current CEO of International Energy Services Limited, Dr. Diran Fawibe has linked collapsing international investment interests in the nation’s oil and gas sector to the observed…
Oil still below $30 on global coronavirus impacts
Oil prices steadied on Wednesday after slipping to new four-year lows, sapped by fears for fuel demand and the global economy amid travel and social lockdowns triggered by the coronavirus epidemic. Brent crude LCOc1 was up by 34 cents, or…
