Category: Oil & Gas

The Nigerian National Petroleum Corporation (NNPC) has concluded arrangement for the historic groundbreaking of the 40inch x 614km Ajaokuta – Kaduna – Kano (AKK), gas pipeline and stations in the weeks ahead. The corporation said following last week’s successful execution of contract agreements for the engineering, procurement, construction, commissioning and financing for Lots 1 and…

Energy Worth with Agency Report The Programme Manager, National Gas Flare Commercialisation Programme (NGFCP), Federal Ministry of Petroleum Resources, Justice Derefaka, has disclosed that Nigeria loses approximately $10 billion of revenue through gas flaring, due to its inability to capture and commercialise flared gas in the country. He further stated that if flared gas is…

Any increase in the price of Premium Motor Spirt as a result of the five per cent levy on the product as stipulated in the Petroleum Industry Governance Bill that was recently passed by the National Assembly will not be welcomed by Nigerians, oil marketers have said. The Punch newspaper has reported. According to the…

Organization of Petroleum Exporting Countries (OPEC) crude oil production fell in March to the lowest since April 2017  as a result of declining Angolan exports, Libyan outages and a further slide in Venezuelan output, thus increasing compliance with a supply-cutting deal by the oil producers to another record. OPEC pumped 32.19 million barrels per day…

Wintershall is continuing its growth course and has now been awarded exploration licenses in Brazil. In its 15th bidding round, Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) has awarded interests in seven licenses to Germany’s largest internationally active oil and gas producer. The company will hold the operatorship for four of these…

Oil climbed as top crude-exporting countries suggest they may extend output curbs beyond this year, adding momentum to a monthly rebound. Futures in New York posted a 5.4% increase in March, erasing February losses fueled by mounting American stockpiles. Some OPEC producers and allies are considering prolonging efforts to drain a global supply glut up…

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and its sister union, the National Union of Petroleum and Natural Gas Workers (NUPENG), say they have no reservations against the five percent fuel levy in the harmonised PIGB recently passed by the National Assembly. Recall that the National Assembly Conference Committee last week…

Nigeria and other countries will spend about $811 billion on 615 upcoming oil and gas fields in the next eight years, a research conducted by data and analytics firm- Global data, has revealed. The money, would be expended on capital items, especially conventional oil, heavy oil, oil sands, and unconventional oil projects, the report said….

Over 30 global organisations have signed a petition against the construction of the gas pipeline project that will stretch along the West African coast from Nigeria to Morocco. The project was first announced following a meeting between King Mohammed VI and Nigerian President Muhammad Buhari, on the sideline of the UN Climate Summit COP22 in…

The Nigerian National Petroleum Corporation (NNPC) sustained its winning streak at exhibitions with a clean sweep of awards at the just concluded 29th Enugu International Trade fair. Apart from clinching the award for the overall best exhibitor and participant at the Fair, the corporation also received accolades for being the most reputation-conscious participating organization as…