Category: Oil & Gas

By Irina Slav One of Brazil richest men, Eike Batista, has received a 30-year prison sentence for bribes given to the former governor of Rio de Janeiro, Sergio Cabral, Reuters reports, citing a federal court document. Cabral was also convicted. The federal court found Batista—whose business was mainly in oil and metals—guilty of paying US$16.5…

The Nigerian National Petroleum Corporation (NNPC) is set to hit the Capital market to fund its new projects which include the NNPC/NAOC JV Idu-Re-development, South Gas Project, North Gas Project and Central Gas Project. Group Managing Director of the corporation, Dr. Maikanti Baru, made this disclosure at the ongoing Nigeria Oil and Gas Strategic Conference…

The Nigerian National Petroleum Corporation (NNPC) has announced the attainment of a two-year record spike in gas supply to power generation, which hits 854.40million Standard Cubic Feet of gas per day (mmscfd) for March 2018, translating to an equivalent power generation of 3,492MW. Details of the March 2018 National Gas Production figures contained in the…

By Vanand Meliksetian The Netherlands has been the source of cheap energy for northwest Europe for the past decades. The discovery of the Groningen gas field, the 9th largest in the world, provided a reliable source of energy in a period when the oil market was rocked by embargos due to the Yom Kippur War…

By Energy Worth The Minister of state for Petroleum Resources, Dr Ibe Kachikwu has disclosed that the Federal Government is making effort to ensure that cost of crude production is reduced to 23 dollars per barrel from about 35 dollars. Kachikwu disclosed this at the on going Nigerian Oil and Gas conference and Exhibition on…

Secretary-General, Organisation of Petroleum Exporting Countries (OPEC), Dr Mohammed Barkindo, has said that Nigeria has assumed a strong, proactive role in the oil industry globally. Barkindo said this while delivering a keynote address at the 17th edition of the annual “Nigeria Oil and Gas Strategic Conference and International Exhibition’’ in Abuja on Tuesday. The News…

By Tsvetana Paraskova Islamic State was selling oil and gas to the Syrian regime and to Turkey, while the militants were ruling over large areas in Syria and Iraq over the past three years, a senior ISIS commander said in an interview with the Kurdistan 24 news outlet on Sunday. “Oil and gas obtained by…

The death toll in Thursday’s oil tanker fire on the Otedola Bridge end of the Lagos-Ibadan Expressway, Lagos, has risen to 12. PUNCH Metro had reported that a truck loaded with petrol crashed on the bridge and spilled its content on the expressway, causing fire that destroyed 54 vehicles and killed nine persons. The Lagos…

Following the tragic tanker explosion on Otedola Bridge inward Ojodu Berger along Lagos-Ibadan Expressway which claimed lives and property, the Lagos State Government on Sunday restricted movement of Fuel Tankers to designated trailer route going forward. The government also said it was now mandatory for all articulated trucks coming into Lagos to obtain the Ministry…

By Energy Worth One year after signing the tripartite term sheet for the financing and technical services arrangement between NNPC/FIRST E&P JV and Schlumberger for the Anyalu and Madu fields under Oil Mining Licence, OML 83 and OML 85, offshore Nigeria, a final nod was given to the package over the weekend in London with…