The Oil Bloc
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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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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…


Bonga oil export terminal shut down for maintenance

The Shell Nigeria Exploration and Production Company, SNEPCo, says it has shut the Bonga oil export…


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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