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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 launched bid round for marginal oilfields.

Nigeria’s proven gas reserve now 203.16tcf – DPR

The Director of the Department of Petroleum Resources, DPR, Mr. Sarki Auwalu, disclosed on Wednesday that country’s proven gas reserve is now 203.16tcf, during an online interactive session with the media on topical issues in the oil and gas industry in Nigeria.

U.S. raises sanctions on Venezuela as oil exports hit 17-year low

The U.S. Department of the Treasury said on Tuesday that the country has raised its sanctions on Venezuela’s oil industry, focusing this time on maritime companies and their assets who have been assisting the Latin American country in getting its blacklisted crude oil to market.

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.
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