Category: Oil & Gas

By Osama Rizvi The bulls are well and truly back in the oil market, with many analysts and traders predicting $100 oil by Christmas. But upon closer inspection, these claims appear to be driven fear and greed as opposed to fundamentals. On Wednesday, the EIA reported a huge build in U.S. inventories, 7.9 million bpd,…

By Damilola Shittu According to Dada Thomos, the President of the Nigeria Gas Association (NGA), over the last 10 years Nigeria has managed to reduce gas flaring from two billion cubic feet per day to 700 million cubic feet per day, resulting in 65% improvement. Thomos revealed this at a briefing announcing the fourth coming…

Founder of Aiteo Group, Benedict Peters has won the ‘Africa’s Oil and Gas Leader of the Year Award’ at the Forbes Best of Africa Gala, which was held at Forbes Headquarters, New York City, on 27 September, 2018. The award was in recognition of Peters’ immense contributions to the oil and gas development in Africa,…

By Tsvetana Paraskova Total will be looking to develop low-break even deepwater resources in the coming years, expecting to increase production by 6-7 percent every year through 2020, the French oil and gas company said in its Strategy & Outlook presentation on Tuesday. Between 2018 and 2020, Total expects its production to rise by 6…

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, has urged oil workers under the auspices of the National Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), to halt their planned industrial action over a labour dispute involving…

By Oke Peter The Minister of State for Petroleum Resources, Dr Ibe Kachikwu has warned that any oil company that cannot stop gas flaring by 2019 should stop producing in Nigeria. Kachikwu stated that the Department of Petroleum Resources would become severe in upholding sanctions against defaulters by preventing them from oil production from next…

By Nick Cunningham It’s about that time again. WTI hits $70 per barrel and the tweet-rage is back. We protect the countries of the Middle East, they would not be safe for very long without us, and yet they continue to push for higher and higher oil prices! We will remember. The OPEC monopoly must…

A Milan judge on Thursday sentenced two men to four years in prison in the first ruling of a corruption case involving oil giants Eni and Shell in Nigeria, a judicial source said. The judge also ordered the seizure of millions of dollars and Swiss francs from the pair, who acted as go-betweens in the…

In its determination to invest in research and development of long-term solutions to reduce greenhouse gas emissions, ExxonMobil has announced that it will join the Oil and Gas Climate Initiative (OGCI), a voluntary initiative representing 13 of the world’s largest oil and gas producers working collaboratively toward solutions to mitigate the risks of climate change….

In continuation of the interview last week with Ehiedu Iweriebor , a professor at the Department of Africana and Puerto Rican/Latino Studies, Hunter College, The City University of New York. He spoke on the need for the Federal Government to formulate policies that would promote crude oil refining in Nigeria, in a bid to attract…