News

The Nigerian oil and gas industry performed above the global average in the management of the coronavirus pandemic in their areas of operations in the country, says the Department of Petroleum Resources (DPR).

Prince Abdulaziz bin Salman, Saudi Arabia’s Energy Minister has said that the worst was over for the oil market.

The Federal Government, under the new Petroleum Industry Bill (PIB), plans to set up Nigerian Midstream and Downstream Petroleum Regulatory Authority to regulate operators in the midstream and downstream oil industry.

Royal Dutch Shell RDSa.L has hired Orsted's ORSTED.CO North America Chief Thomas Brostrom as Senior Vice President for its Global Renewable Solutions department starting next year, a Shell spokesman said on Friday.

Nigerian National Petroleum Corporation has said that national oil companies should set aside risk funds to minimise the impacts of unforeseen events.

Shareholders of Conoil Plc have unanimously approved the payment of N1.39 billion dividend proposed by the board of the Company, for the 2019 financial year.

The World Bank has said that oil prices won’t be rising much next year either but would average $44 per barrel, saying that prices will not recover to pre-pandemic levels at least until 2022.

SEPLAT Petroleum Development Company Plc has said it is driving the growth of the domestic gas market to power the economy particularly because of the energy shortfall in terms of electricity.

The Department of Petroleum Resources, DPR, has said the 5, 000 barrels per day Waltersmith Modular Refinery project in Imo State is ready for operations.

A resolution for the voluntary delisting of 11 Plc, formerly Mobil Oil Nigeria Plc, from the Nigerian Stock Exchange, has been approved by the company’s shareholders.