Category: Oil & Gas

NETCO Declares N3.257bn Profit for 2017

National Engineering and Technical Company (NETCO) Limited has posted a surprise profit of N3.257 billion for 2017 financial year, marking twist of story in the services...

Mobil deploys Subsea 7 in $300m Shallow Water Dive

Nigeria’s offshore trailblazer, ExxonMobil, has invited international upstream contractor, Subsea 7, to embark of development of submarine conduits as part of...

Shell in Another Crisis over OML 42 Divestment

Crisis around Shell’s commercial operations in Nigeria appears endless as indigenous producer, Neconde, might be dragging the Anglo-Dutch multinational to arbitration...

Egypt Plans Deep Slash in Energy Subsidies, Hikes for food

Egypt plans to cut fuel subsidies by a quarter and nearly halve those for electricity in the financial year starting in July, but will raise food subsidies slightly, a...

Delta: Community threatens Showdown with NNPC Subsidiaries over Pollution

Twin cities of Ekpan and Effurun in Uvwie Local Government Area of Delta state, have threatened to halt the operations of the Warri Refining and Petrochemical Company...

World Invests $2.9bn in Renewable Energy Since 2004, Says UNEP Report

The world has invested 2.9 trillion dollars in green energy sources since 2004, a new UN-backed report released on Thursday said. The Global Trends in Renewable Energy...

Buhari Govt Deepens Search for Oil in the North

President Muhammadu Buhari government is persistent with endless search for oil in major sedimentary basins in the northern parts of the country after years if private...

Buhari Govt Committed to Rehabilitating All Refineries Before 2019

President Muhammadu Buhari government has restated its commitment to rehabilitate all the refineries before the end of 2019, which is inline with its 2015 promises to...

IPMAN Criticises Unfair Practices, Racketeering at Calabar Depot

BY EDIDEM UYA in Calabar• The Independent Petroleum Marketers Association of Nigeria, (IPMAN), Cross River/Akwa Ibom State Chapter has disparaged the high level of...

DPR Unveils Operation to Enforce Sale of Petrol at Govt Price in Imo

The Department of Petroleum Resources (DPR) in Imo State has launched a special operation to ensure that petrol was sold at government regulated pump price. The...

Nigeria to Ban Sulphur Fuel

BY ADAKU ADINDU in Abuja• The Chief Operating Officer in charge of Refineries and Petrochemicals at the Nigerian National Petroleum Corporation (NNPC), Mr. Anibor O....

NNPC Lowers Cost of Producing Crude Oil per Barrel to $20

Nigeria’s oil regulating body, the Nigerian National Petroleum Corporation (NNPC) said it has brought down the cost of producing a barrel of crude oil to $20, even...

Petrogress Expands into Nigeria

Petrogress is expanding its global footprint by striking deals with Nigeria-based A&E Petroleum Co. Limited. The partnership with A&E Petroleum expands the...

Oil Workers Want Refining of Crude Done Locally

Nigeria’s petroleum industry workers have called on the government to pass laws and declare policy directives to compel oil-producing firms to refine a portion of...

GE to Assist Shell at Afam VI Plant

BY OKEMIRI CHINENYE in Lagos• GE’s Power Services business on has disclosed that it has signed a multi- year service agreement (MYA) with Shell Petroleum...

EFCC Interrogates 2 Suspected Oil Thieves

BY NDIDI ADINDU in Abuja• The Economic and Financial Crimes Commission, EFCC, has commenced investigations of two suspected oil thieves, alongside a vessel: MT MARINA...

Crude Sales: NNPC Earned $239.10m in November

BY ADAKU ADINDU in Abuja• The nation’s apex oil regulation body, the Nigerian National Petroleum Corporation (NNPC) declared receipt of $239.10 million in the...

Total’s Egina FPSO Vessel Arrives for Africa’s Pioneer Local Integration

Total Upstream Nigeria Limited (TUPNI), which operates the deepwater Egina oilfield offshore Niger Delta has successfully berthed the mammoth floating production vessel...

Oil Price Increase Should Not Affect Diversification of Economy

BY AYODELE ABERE in Osogbo• A member of Osun House of Assembly, Mr Olatunbosun Oyintiloye has urged the Federal Government not to allow the slight improvement in the...

Fuel Queues Reduce in Lagos, Abuja, Says NNPC

BY CHUKS NNOCHIRI in Abuja• The nation’s oil regulatory body, Nigerian National Petroleum Corporation (NNPC), on Sunday declared that the scarcity of petrol in...