Category: Oil & Gas

Damilola Shittu with Agency Report The narrowing spread between Northwest European diesel and petrol cracks has helped support some Nigerian crude grades which have suffered from a lack of European demand, traders have said. The Amsterdam-Rotterdam-Antwerpfront-month diesel crack was assessed at $14.54 per barrel on Monday, with the benchmark ARA front-month Eurobob petrol crack at…

Damilola Shittu – Abuja The Federal Executive Council (FEC) meeting yesterday approved N1.4 billion for the design of 12-floor building design for the Department of Petroleum Resources (DPR). The Minister of State for Petroleum Resources, Ibe Kachikwu briefed State House correspondents at the end of FEC meeting chaired by President Muhammadu Buhari at the Presidential…

Mayowa Okekale – Abuja The Phase One of the ongoing recruitment exercise by the Nigerian National Petroleum Corporation (NNPC) which kicked off via nationwide advertisements in the national dailies and online media on Wednesday, 13 March, 2019 ended midnight yesterday with the closure of the corporation’s application portal. A release today in Abuja by the…

Damilola Shittu – Abuja Gas flaring has continued to take its toll on the Nigerian economy, the environment and the lives of the people of oil-producing communities, as the country lost $987.175 million, about N302.076 billion in 2018, to the continuous flaring by oil and gas firms operating in the petroleum industry. According to data…

Port Harcourt Refining Company (PHRC) Limited, a subsidiary of the Nigerian National Petroleum Corporation (NNPC), has attained the International Organization for Standardisation (ISO) 9001:2015 Quality Management System (QMS) certification, the first by any refinery on the African continent. Mr. Richard Omale, Managing Director of 3FM Solutions, a Management Consulting Company whose outfit conducted the QMS…

Femi Falana, Senior Advocate of Nigeria (SAN) and human rights lawyer, has urged President Muhammadu Buhari not to renew the licences of oil block owners in the country. Sahara Reporters has reported. In a letter addressed to the President, dated March 20, 2019, Falana commended him for taking the decision to revoke the licences of…

Shell Petroleum Development Company of Nigeria Limited says it has increased the size of its contractor support fund by $200m in a bid to boost the financial capacity of vendors and suppliers in Nigeria’s oil and gas industry. The oil major said in a statement on Sunday that with the latest move, the fund size…

By Oke Peter Nigeria’s effort at ensuring local sufficiency in refined petroleum products was bolstered Thursday with the formal commencement of the first phase of the rehabilitation of the 210,000 barrels per day capacity Port Harcourt Refinery complex that comprises the 60,000 barrels per day old Refinery built in 1965 and the 150,000 barrels per…

By Irina Slav A senior United States government official has told Indian media that private local refiners had stopped importing crude oil from Venezuela, noting the cooperation of Indian companies in this respect. “My understanding is that Indian private companies, who were importing Venezuelan oil, have stopped,” the official, whose name was not disclosed, said…