Category: Oil & Gas

By Energy Worth The Nigerian National Petroleum Corporation (NNPC) has commenced comprehensive community integration and stakeholders’ engagement to sensitize dwellers of Iwure, Ojor and Osomba/Akin communities of Cross River State ahead of planned oil palm-based biodiesel project in that part of the state. A release by Corporation’s Group General Manager, Group Public Affairs Division, Ndu…

By Tsvetana Paraskova OPEC will continue to play a key role in oil supply and prices in the global oil market through 2040, despite the relentless oil production in the Permian and expectations for production increases in the United States and other non-OPEC countries in the 2020s. That’s the takeaway from Wood Mackenzie’s latest long-term…

By Tsvetana Paraskova UK-based independent oil and gas company Savannah Petroleum has made a third oil discovery in Niger in as many months and is extending its drilling campaign in the area. Savannah Petroleum has discovered oil bearing reservoir sandstones in the Kunama-1 exploration well it had drilled in the Agadem Rift Basin in Southeast…

By Energy Worth President Muhammadu Buhari has congratulated the board, management, staff and shareholders of the Nigerian Liquefied Natural Gas company (NLNG), the NNPC and other Joint Venture partners, Shell, Total and AGIP on the signing of the contracts for the Front End Engineering Design (FFED) of Train 7 of the Nigeria Liquefied Natural Gas…

By Energy Worth The $5.1bn joint venture cash call argument between the Federal Government and international oil companies operating in Nigeria is over, the IOCs have said. In 2016, the IOCs gave the Nigerian National Petroleum Corporation (NNPC), which represents the Federal Government in different JV partnerships, a discount of $1.7bn from the $6.8bn cash…

By Energy Worth NIGERIA LNG Limited, NLNG, is seeking $7 billion from the global financial markets for the sustainability of its operations and expansion project which will increase its production capacity from 22 Million Tonnes Per Annum, MTPA to 30 MTPA. This is part of the moves targeted at ensuring that the taking of Final…

By Nick Cunningham Oil prices fell sharply on Wednesday on news that Libya was suddenly set to restore hundreds of thousands of barrels per day, and the U.S. struck a softer line on Iran sanctions. Brent sank more than 6 percent during midday trading on Wednesday, as Libya’s National Oil Corp. (NOC) said that it…

By Energy Worth A major stride in the attainment of national energy sufficiency was achieved in Lagos on Monday with the commencement of technical framing workshop and subsequent project signing ceremony of the seven Critical Gas Development Projects (7CGDP) to deliver about 3.4 billion standard cubic feet of gas per day (bscfd) to bridge the…

By Nick Cunningham With around 2.5 million barrels per day (mb/d) of Iranian supply targeted by the Trump administration, how will the oil market cope with the losses? Is there enough supply capacity to make up for the shortfall? There is a great deal of debate about the true extent of the world’s spare capacity….

By Energy Worth Niger Delta stakeholders have warned that the menace of crude oil theft and artisanal refining will continue unabated in the region if the issue of resource control is not addressed. They decried the delay in commencement of the clean up of Ogoni environment almost seven years after the submission of the United…