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Oil, gas companies lose N178bn in first half of 2020 – NSE

The Nigerian Stock Exchange (NSE) has recorded N178.018bn loss in the first half of 2020 for oil and gas companies listed as the impact of COVID19 continues to shake the industry.

Oil marketers call for deregulation as FG raises petrol price to N143.80

The Federal Government (FG) has raised the pump price band of petrol to between N140.80 and N143.80 for the month of July. However, stakeholders are seeking total deregulation in the determination of the petrol price.

Nigeria changes marginal oilfields allocation method

Nigeria has changed its marginal oilfields allocation method to avoid legal problems that bedeviled the previous bidding round, the director of the Department of Petroleum Resources (DPR) said on Tuesday.

Norway sets oil export records as OPEC+ cuts deepens

As OPEC and its allies make their deepest cuts yet to crude production, Norway’s oil giant, Johan Sverdrup oil field is exporting more than ever before.

ConocoPhillips to resume part of curtailed oil production

In response to the low oil prices, ConocoPhillips has said that it expects to start bringing back in July part of the oil production it had curtailed in the second quarter.

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Downstream

PPPRA insists on fixing petrol prices

Despite opposition by oil marketers, the Petroleum Products Pricing Regulatory Agency (PPPRA) has…

Midstream

Algeria will not renew fuel supply contract with…

Algeria’s state-owned oil company, Sonatrach, has announced that from December 2020 the country will…

Upstream

Shell begins staff evacuation at Bonga Field over…

Shell began evacuating workers earlier this week from the Bonga floating, production, storage, and…

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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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