Oil
IEA members release 325m barrels of oil from strategic reserves
The International Energy Agency said Saturday that member countries had so far released 325 million barrels of oil and oil-derivative products from strategic reserves, from 400 million barrels promised in
Ogoni youths demand 500 NNPC jobs as oil exploration resumption sparks divisions
By Davies Iheamnachor, PORT HARCOURT Youths of oil-rich Ogoni ethnic nationality in Rivers State have demanded 500 job slots from the Nigerian National Petroleum Company, NNPC, Limited as part of
Iran Negotiator Says US Sanctions on Oil, Banks ‘Expected to Be Lifted’
Iran’s chief nuclear negotiator said Tehran expects US sanctions on oil, banks and other sectors and on most individuals and institutions to be lifted based on agreements reached so far
New operating consortium promises Nigeria better value from 4 oil assets
…Says DPR did due diligence in choosing it By Innocent Anaba Kaztec Engineering Limited and Salvic Petroleum Resources consortium have promised to offer Nigeria better value in terms of increased
Stakeholders seek gains from $47.4 billion on gas projects
Stakeholders in the oil and gas sector have insisted on the need to get the best from Nigeria’s enormous gas resources, as the country embarks on $47.4 billion gas projects.
COVID: FG may miss N2trn oil revenue target — Agusto Consulting
By Nkiruka Nnorom There are indications that the Federal Government may not meet the N2.01 trillion oil and gas revenue target as encapsulated in the 2021 budget over low energy
FG revokes 4 Addax Petroleum’s Operating Mining Leases
offshore oil rig Re-awards assets to Kaztec Engineering By Emeka Anaeto & Udeme Akpan ENERGY THE Federal government has revoked four Oil Mining Leases, OMLs belonging to Addax
Nigeria oil production falls by 10.25%
By Obas Esiedesa Nigeria’s total crude oil and condensate production from January to October 2020 fell by 10.25 percent when compared to similar period in 2019, latest data from the
Oil/Gas: Nigeria loses billions of Naira as dockyards capacity drops to 15% — Investigation
By Udeme Akpan There are indications that the capacity utilisation of oil and gas dockyards in Nigeria has dropped to 15 per cent as a result of relatively low oil
OPEC+ to reconvene to navigate crude market volatility
The OPEC+ grouping of oil producers will hold its third ministerial summit of the year via videoconference Thursday to discuss output cuts in the face of fresh price volatility. “The
