Category: Oil & Gas

By Energy Worth OrderPaper Advocacy Initiative has disclosed its plans to convene a colloquium on the Petroleum Host and Impacted Community Development Bill (PHICDB). The Programme Executive of the group, Mej John Obada, disclosed this in a statement. He said the meeting would discuss issues around ongoing legislative and policy reforms in the petroleum industry,…

By Nick Cunningham The oil industry might not be able to produce enough oil to meet global demand in a few years’ time. To be sure, much of the oil world is focused on the supply fears in the near-term. The outages in several OPEC nations, plus the tightening noose on Iran from the U.S….

Energy Worth with Agency Report The Dangote refinery plans to start selling petrol, diesel and aviation fuel by early 2020, but the fertiliser plant, will start producing urea this year, Edwin Devakumar, the group executive director told Bloomberg. The $10 billion refinery, set to be one of the world’s largest and which can process 650,000…

By Energy Worth The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, has announced a profit after tax of N6.11bn for the Nigerian Gas Processing and Transportation Company (NGPTC), a subsidiary of the NNPC. He said the PAT was recorded in the NGPTC’s first year of operation under the new structure, which had…

By Nick Cunningham The U.S. government has continued its attempts to shut down Iran’s oil exports, and in recent days Iranian officials responded by threatening to block the Strait of Hormuz. Such an outcome is highly unlikely, but the war of words demonstrates how quickly the confrontation is escalating. Oil prices spiked in late June…

The Nigerian National Petroleum Corporation (NNPC) has vowed to remain globally competitive to ensure value addition to the nation’s hydrocarbon resources for the benefit of Nigerians and other stakeholders. NNPC Group Managing Director, Dr Maikanti Baru, disclosed this Thursday in Abuja while addressing the corporation’s staff via a mail broadcast to commemorate his two-year anniversary…

By Tsvetana Paraskova Oil prices dropped early on Friday as fears of the escalating U.S.-Chinese trade war and increased production by Saudi Arabia and Russia outweighed concerns over supply disruptions from Venezuela to Libya to looming sanctions on Iran. At 08:23 a.m. EDT today, WTI Crude was down 0.78 percent at $72.37, and Brent Crude…

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…