News

Operators in Nigeria’s oil and gas industry have been urged to cut the cost of production in order to survive in the face of the global energy transition.

Equinor and three of its partners have discovered oil and gas at production licence 923 near Norway’s Troll field in the North Sea. The three partners are DNO Norge, Petoro and Wellesley Petroleum.

The Minister of State for Petroleum Resources, Timipre Sylva, has revealed why Bayelsa lost the Atala oilfield (OML 46).

Oil prices were boosted by supply cuts among key producers and hopes for further U.S. economic stimulus measures to boost demand, with Brent Futures nearing $60 a barrel on Monday.

Shell is considering to take a hard look at its operations onshore Nigeria due to the persistent issues of theft and sabotage in the Niger Delta.

Global commodities trading company Trafigura has purchased a minority stake in UK utility company Bboxx to accelerate progress on meeting United Nations Sustainable Development Goal 7, clean energy for all, in Africa.

The total sale of petroleum products for the period November 2019 to November 2020 stood at 17.031 billion litres, with petrol accounting for 16.911 billion litres or 99.29 per cent, the Nigerian National Petroleum Corporation said yesterday.

Discussions between the Federal Government and labour movement on how to raise the freight rate of petrol has commenced.

When elected in 2015, the oil and gas industry was in a very dire situation, worsened by a backlog of joint venture cash call arrears, President Muhammadu Buhari said.

Oil prices were boosted by a drawdown in the United States crude and petrol stocks that added to demand recovery hopes fuelled by the forecast by major producers of a deficit in the market this year.