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Saudi to support OPEC+ oil cut extension

Saudi Arabia is prepared to support extending oil cuts by OPEC and allies into May and June and is also ready to extend its own voluntary cuts to boost oil prices amid a new wave of coronavirus lockdowns, the Reuters news agency reported on Monday, citing a source briefed on the matter..

Rain Oil calls for increased investment in gas

The managing director, Rain Oil Limited, Dr. Gabriel Ogbechie has urged Investors to deepen their investments in gas in order to attract maximum benefits to Nigeria’s economy.

Total suspends Mozambique gas project

French energy company Total said it had postponed the restart of work at a liquified natural gas (LNG) project in Mozambique following an attack on a nearby town this week.

Fuel daily usage reaches 72.72m litres

The supply of Premium Motor Spirit (petrol) by the Nigerian National Petroleum Corporation hit a high of 72.72 million litres daily in December amid the smuggling of the product to neighbouring countries.

Petrol price increase only after talks with labour — NNPC

The current ex-depot price of Premium Motor Spirit (petrol) would be maintained until the conclusion of ongoing engagement with the organized labour and other stakeholders, says Nigerian National Petroleum Corporation (NNPC).

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Nigeria

NLNG generates $114bn for Nigeria

The Nigeria Liquefied Petroleum Natural Gas company has generated $114bn revenues for the country, says President…

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Downstream

FG adopts new technology to curb oil-tanker…

Explosions in oil tankers and petroleum products distribution tankers have become rampant. Hence,…

Midstream

Biden shocks environmentalists, backs gas pipeline…

Environmentalists who had hoped the Biden Administration would not support any oil and gas pipeline…

Upstream

NEO Energy agrees to buy Zennor Petroleum for $625m

The UK-based upstream firm, NEO Energy, has finalized plans to acquire oil and gas company Zennor…

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Oil Tips

11 Interesting Facts About Saudi Aramco

Apart from the fact that Saudi Aramco is the world’s biggest oil firm, what other interesting facts do you know…

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