Category: Oil & Gas

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…

Some Organisation of the Petroleum Exporting Countries (OPEC) producers and other countries participating in global output cuts have suggested extending the curbs beyond 2018 and up to the middle of next year, according to Iraq’s Oil Minister Jabbar al-Luaibi. Some producers suggested extending the cuts for three months and others for six months after their…

Total has announced its first gas from the Timimoun field in South Western Algeria. The production complex with a capacity of around 5 million cubic meters of natural gas per day at plateau (around 30,000 barrels of oil equivalent per day (boe/d)), is jointly operated by Sonatrach (51%), Total (37.75%) and Cepsa (11.25%). “The launch…

An international oil giant, ExxonMobil, has said that it has increased its holdings in Brazil’s pre-salt basins after winning eight additional exploration blocks during Brazil’s 15th bid round. The blocks awarded add about 640,000 net acres to the ExxonMobil portfolio. Six of the eight newly awarded blocks will be operated by ExxonMobil. The additional blocks…

The Shell Petroleum Development Company of Nigeria Limited (SPDC), has denied allegations of environmental mismanagement in the Niger Delta levelled against it at the weekend by Amnesty International, reiterating its commitment to swift response to oil spill incidents as much as access and security conditions permit teams to mobilise and deploy to spill sites to…