Category: Oil & Gas

By Oke Peter The landing cost of the Premium Motor Spirit (petrol) being imported into the country has risen to at least N205 per litre on the back of the recent increase in global oil prices, putting more pressure on the Nigerian National Petroleum Corporation. The NNPC has been the sole importer of petrol into…

Oke Peter with Agency Report Eleven people on Wednesday in Abuja suffered various degrees of burns from a gas explosion that occurred at Rosy Restaurant Area 11. An eyewitness reports that the victims who were immediately taken to Asokoro general hospital suffered some 40 to 50 degree of burns. Apregnant woman, who simply identified herself…

A High Court sitting in Port Harcourt, the Rivers State capital, has sentenced the Managing Director of Shell Petroleum Development Company, Mr Osagie Okunbor, and two other top officials of the oil firm to three months’ imprisonment with hard labour for contempt. The Punch has reported. The other two officials convicted by the court are…

Polish oil refiner PKN Orlen expects to receive a first ever shipment of Nigerian crude oil next month, its CEO said, as Poland seeks to reduce its reliance on Russian supplies. State-run PKN Orlen, Poland’s biggest refiner, and smaller rival Lotos, which it is taking over, rely mostly on Russian oil delivered via pipelines built…

By Oke Peter Oil price, yesterday, dropped to around $83 a barrel on pressured by expectations that some Iranian oil exports will keep flowing after the U.S. reimposes sanctions, easing a strain on supplies. Brent crude, the international benchmark was down $1.07 to $83.09 per barrel at 0817 GMT. It hit a four-year high of…

Several people were injured in a blast that hit on Monday an oil refinery in the City of Saint John located in the eastern Canadian province of New Brunswick, plant’s owner Irving Oil said. “As an update on our Saint John refinery incident this morning, we now understand that all employees and contractors working on…

Italy’s Eni and Britain’s BP on Monday signed a deal with Libya’s National Oil Corporation aimed at renewing oil exploration in the war-ravaged country, the companies said. The three businesses signed a letter of intent in London which will see Eni acquire 42.5 per cent of BP’s Exploration and Production Sharing contracts in Libya in…

Amin H. Nasser, President and Chief Executive Officer of Saudi Aramco and Patrick Pouyanné, Chairman and Chief Executive Officer of Total, signed today in Dhahran the joint development agreement for the front-end engineering and design (FEED) of a giant petrochemical complex in Jubail, on Saudi Arabia’s eastern coast. Announced in April 2018, the world-class complex…

The Nigerian National Petroleum Corporation (NNPC) has announced a total crude oil and gas export sales of $416.07 million in June, 2018 which is 35.78 per cent higher than the previous month. Details of the figures contained in the June 2018 edition of the Monthly NNPC Financial and Operations Reports, released today also indicated that…

By Tsvetana Paraskova ExxonMobil plans to begin drilling for oil and gas offshore Cyprus sometime this quarter, a senior executive said on Friday, while Turkey warned again on Thursday against exploration offshore Cyprus in what it says is ignoring the rights of the Turkish Cypriot people. Turkey, which recognizes the northern Turkish Cypriot government and…