Debtors barred from bidding for oilfields
The Department of Petroleum Resources has said that companies, including their promoters, indebted to the Federal Government will not be allowed to participate in the newly…
Oil reaches $40, Nigeria cuts production by 216,000bpd
Brent crude which is the benchmark against which Nigeria’s crude is priced rose to $40 per barrel for the first time since March.
Chevron reassures committment to protecting the environment
Ahead of the World Environment Day, Chevron Nigeria has reiterated its responsible environmental stewardship everywhere it operates.
FG clears outstanding N168bn debt to oil marketers – Investigation
The Federal Government has cleared the N168 billion outstanding subsidy debt to oil marketers, as part of measures targeted at stimulating activities in the downstream sector of the petroleum industry.
Nigeria LNG suffers ‘operational trip’
Nigeria’s six-train liquefied natural gas plant on Bonny Island suffered an operational trip mid-May. In a brief statement, Nigeria LNG noted that the trip resulted in the temporary loss of power at the plant.
Venezuela’s government increases gasoline prices starting in June
Venezuela's President Nicolas Maduro on Saturday announced a hike in gasoline prices after two decades of frozen values at the pump, as part of a system to fill vehicles and motorcycles with subsidized fuel up to monthly quotas and pay internationally indexed prices over those levels.
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Nigeria
NNPC operations go digital, begins online sales of petroleum products
The Nigerian National Petroleum Corporation (NNPC), announced on Wednesday that it has commenced the online sales…
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International
Tullow Oil suspends Kenyan oil export project
The plan of exporting and testing Kenya’s crude under a pilot plan by Tullow Oil, ended on June 2,…
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Downstream
Chevron’s cost-reduction measure may eliminate up to…
Chevron is planning a 10% to 15% reduction in its global workforce this year, the biggest cut to…
Midstream
Bonga oil export terminal shut down for maintenance
The Shell Nigeria Exploration and Production Company, SNEPCo, says it has shut the Bonga oil export…
Upstream
SBM Fast4Ward FPSO hulls continue despite COVID-19…
Due to COVID-19, yards in Singapore are currently closed, but yards in China have re-opened and are…
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Oil Tips
How oil and gas industry helps fight coronavirus
The oil and gas industry is facing a downturn exacerbated by the COVID-19 coronavirus pandemic, but companies in…
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