News

Stricter Adherence to OPEC Cut May Worsen Oil and Gas GDP of-6.6%

Oil and gas GDP of – 6.6 percent may worsen if Nigeria adhere strictly to its production cut agreement with other major oil-producing countries, a decision which may bite harder on the people in 2020 fiscal year as the federal government adjusts to the realities of d

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Should a Deregulated Downstream Sector Continue to Have Petroleum Equalisation Fund?

The inability to maintain equal price for petrol across the country despite forced removal of subsidy and Nigerians paying billions has put to questioning the continuous relevance of the Petroleum Equalisation Fund.

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Slow Reform May Worsen COVID-19 Induced Negative Growth in Nigeria's Petroleum Sector

After sluggish growth in the first three months of this year, Nigeria’s petroleum industry has crawled into negative growth mode thanks to COVID-19 induced shut-down of world economies, and recovery requires quickened reforms in the sector.

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6000bpd Edo Refinery for Commissioning September on DPR's Final Approval

The 6,000 barrel per day (bpd) capacity Edo Refinery and Petrochemicals, a private modular refinery project that enjoys the support of the Federal and State government, is billed for commissioning next month pending approval by the regulator.

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$10m Edo Refinery for Commissioning in September on DPR's Final Approval

The 6,000 barrel per day capacity Edo Refinery and Petrochemicals, a private modular refinery project that enjoyed the support of the Federal and State government, is billed for commissioning next month pending approvals by the regulator.<

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The Imperative of Removing Myriad Obstacles in Power Sector

Electricity is a commodity or product that requires cost recovery returns on Investments. This is the reason why power business value chain must be viewed purely from commercial perspectives.

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Conoil in Advanced Talks for Chevron's Shares in 2 Nigerian Offshore Blocks

Nigeria’s indigenous oil firm, Conoil is in advanced discussion to purchase 40 percent equity held by US oil major Chevron Corp. in shallow-water Oil Mining Lease (OML) 86 and OML 88.

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Domestic Gas Consumption gets a Boost as NNPC Completes Gas Processing Facility

The Nigerian National Petroleum Corporation (NNPC) on Wednesday said it would reduce importation of Liquefied Petroleum Gas (LPG) into the country when the 100 million standard cubic feet of gas capacity facility at Oredo flow station in Benin City, Edo State, is com

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Nigeria Reaffirms Commitment to Delivering Priority Projects in Oil and Gas Sector

Nigeria’s Minister of State for Petroleum Resources, Timipre Sylva, has reaffirmed the determination of the Federal Government toward the realisation of the set nine priority projects in the oil and gas sector as mandated by President Muhammadu Buhari.<

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Stakeholders Back NNPC on Non-sales of Equities in Oil Assets

Stakeholders in the oil and gas industry have supported the move by the Nigerian National Petroleum Corporation (NNPC) not to succumb to pressure to sell off its equities in the joint venture companies to rake- in more revenue for the government or meet it debts obli

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