Good News As OPEC Exempts Nigeria, 2 Others From Reducing Oil Production
At a time Nigeria economy is battling economic recession, analysts have seen the move by the Organization of Petroleum Exporting Countries (OPEC), to exempt Nigeria, from cutting production output given the peculiar internal challenges they found themselves. Pundits say the…
PIB Passage Delaying Licensing Round For 11 Oil Blocks
The non-passage of the Petroleum Industry Bill (PIB) at National Assembly may compound the economic woes of the country early next by frustrating the needed licensing round for oil blocks this year. Already, about 11 Oil Processing Lease (OPL) and…
Shell Shuts Down Nigerian Oil Pipeline After Fire Outbreak
Integrated energy major Royal Dutch Shell plc’s RDS.A Nigerian division, Shell Petroleum Development Company, has shut down its Trans Niger Pipeline at Gio in Ogoni due to a recent fire. This pipeline feeds into Nigeria’s strategic Bonny Export Terminal. …
FG Alerts H/Court How Chevron, Total Under-declared Crude Export
Federal High Court seating in Lagos has started hearing on a suit brought forward by the Federal Government against two multinational oil giants, Total E&P Nigeria and Chevron. Whereas the government claimed that Total E&P Nigeria shortchanged Nigeria to the…
How CEO Of Mobil Oil Nigeria Plc Rose From Pump Attendant To Big Boss
Tunji Oyebanji is the Chairman and Chief Executive Officer of Mobil Oil Nigeria. Currently, Mobil Nigeria is one of the top six major petroleum products marketers in Nigeria and leader in the oil industry in efficiency and brand management. …
Address of Minister of Power, Works and Housing at the opening ceremony of Power-Nigeria Exhibition and Conference at Eko Hotels recently
Ladies and Gentlemen: The number and array of exhibitors at this event clearly speaks volumes about the investment appetite for Nigeria’s power sector. More than anything that I could possibly say about the attractiveness of the Nigerian power sector;…
OPEC to cut output by 750,000 barrels per day
The Organization of Petroleum Exporting Countries (OPEC) has agreed to cut production by 750,000 barrels a day. The surprise news triggered an immediate spike of more than 5 percent in crude prices, as markets had expected the Algiers meeting to…
Oando Plc inks $115.8m Midstream deal with Helios
Leading indigenous player in the nation’s oil and gas industry, Oando Plc, has announced the execution of a definitive agreement with a vehicle owned by funds advised by Helios Investment Partners LLP (“Helios”), a premier Africa-focused private investment firm, to…
Ghana earns over $3bn from petroleum revenue in 4 years
Figures coming from Ghana have shown that between 2011 and 2015, the country earned $3.208 billion from petroleum revenue as it produced the 161.7 million barrels of crude oil. Though in 2015, highest number of barrels, 37.4 million was recorded,…
Dangote excited over Lagos sweet crude oil wells
Leading investor in Africa and Nigeria in particular, Dangote Group has once again lauded speed currently applied by the Lagos State Government in driving the recent discovery and resumption of oil exploration in the state. Speaking in his office during…
