Category: Oil & Gas

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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...

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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...

Dr-Maikanti-Baru

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

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...

Crude oil

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...

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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...

Dr-Maikanti-Baru

NNPC’s Subsidy Fraud, A Must Probe, Says ADP

Urges Senate to urgently set up probe team• PRESS RELEASE• The Action Democratic Party (ADP) has mandated the both the upper and lower chambers of the National...

OPEC

OPEC Wins Over Hedge Funds to Make 2017 Oil’s Most Bullish Year

Oil bulls are charging into the New Year with unprecedented vigour, and the credit goes to the Organisation of Petroleum Exporting Countries (OPEC). The signs that the...

Crude oil

Oil Resurrection Sets Stage for Another OPEC-Shale Clash in 2018

Oil’s revival from the biggest crash in a generation persisted, with prices set for a second annual gain after weathering everything from hurricanes and Middle East...

crude-oil-barrels

Oil Stalls Below $60 as Pipeline Fixes Overshadow Crude Draw

Oil was little changed in New York as traders shrugged off declining U.S. stockpiles and kept eyes on two key pipelines set to resume normal operations soon. Futures...

GMD-NNPC-Maikanti-Baru

NNPC Says Hungary Interested in Buying Nigeria’s Crude Oil, Gas

BY CHUKS NNOCHIRI in Abuja• The Hungarian government has indicated interest in doing oil business with the Nigeria. Nigerian National Petroleum Corporation (NNPC) on...

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Saipem Takes over $5.42bn Contract for Zabazaba-Etan Devt Project in OPL 245

Italian engineering, construction and drilling contractor, Saipem has won $5.42 billion contract for chartering, operations and maintenance for a Floating Production...

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AITEO Not Selling Stake in OML 29, Says Management

Aiteo Group has said it did not announce the commencement of any plans to sell off any of its stake in OML 29. The management on Wednesday said “It has come to our...

obi

Nwasike, The Apostle of Local Content (INTERVIEW)

The gospel of local content in Nigeria’s drive for technological development is one that is believed and preached by Mr. Obi Nwasike, an engineer. He is Principal...

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Niger Delta Militants to Resume Attacks, Warns there will Be Blood

To the international oil companies working in the Niger Delta region of Nigeria, a militant cease-fire is officially over, the Niger Delta Avengers (NDA) said Friday....

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Nigeria: Aiteo Boss Assembles Legal Team to Challenge Unfounded Allegations

Benedict Peters, Executive Vice Chairman of Aiteo Group, has instructed a London law firm Mishcon de Reya and Washington’s Covington & Burling to lead on-going...

saudi

Why Oil-Rich Gulf Arab Countries Are Turning to Renewables

Solar power is getting so cheap that even Gulf Arab states awash in crude oil are embracing the renewable resource. Their motive is as much to keep selling fossil fuels...

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Brent Oil Hits 27-Month High on Saudi Talk of Extending Supply Cuts

Brent crude closed at a 27-month high on Thursday as the market focused more on comments from Saudi Arabia about ending a global supply glut instead of an unexpected...

kachikwu

Kachikwu, Baru Mend Differences, Visits Osinbajo

BY ADAKU ADINDU in Abuja• Nigeria’s Minister of State for Petroleum, Dr. Ibe Kachikwu and Group Managing Director of the Nigeria National Petroleum Corporation...

Maikanti-Baru-1

NNPC Courts Investors to Search for Oil in 7 Inland Basins

BY OMAR ABDUL in Abuja• Nigeria has reiterated her commitment to invite investors to participate in its search for oil in seven inland basins of the country, as she...