Fluenta signs agreement with KOC to supply flare gas meters
*14 systems for multi-point smokeless high-pressure flare sites at South and East Kuwait gathering centres *Project supports Fluenta’s cont...
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PIB: IPMAN appeals to NASS for speedy passage
Kunle Kalejaye 31 August 2016, Sweetcrude, Lagos — The Independent Petroleum Marketers Association of Nigeria, IPMAN has appealed to the Na...
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Niger Delta militants are confused, says NNPC
31 August 2016, Abuja – There is an indication that the Federal Government has yet to commence any negotiation with the Niger Delta militan...
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Nigeria in recession, economy shrinks by 2.06%
31 August 2016, Abuja — The Nigerian economy, Wednesday, plunged into recession, as the National Bureau of Statistics, NBS, disclosed that ...
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Russian oil privatization saga points to limits of Putin’s power
31 August 2016, Moscow/UFA, Russia — Russia’s decision to postpone the privatization of a mid-sized oil company has sent a message to inves...
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OPEC daily basket price close at $45.25/b
31 August 2016, Sweetcrude, Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $45.25 a barrel on Tuesday, compared wit...
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Saudi Arabia will maintain responsible oil production policy – Falih
31 August 2016, Riyadh — Saudi Arabian energy minister Khalid al-Falih said the top crude exporter does not target a specific figure for it...
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Oil price outlook cut as doubts grow over output freeze
31 August 2016,London — Oil analysts have cut their price forecasts for the first time since February, as the prospect of the world’s large...
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Nigeria: Power supply now 3,061mw
31 August 2016, Lagos – The Transmission Company of Nigeria (TCN) has sent out 3,061megawatts (Mw) of electricity generated by the electric...
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$200m Halliburton cash ‘blown on presidential helicopter’
31 August 2016, Abuja – Detectives probing the whereabouts of the $200m (N81.4billion) fines paid by five companies involved in the $180mil...
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Rivers community advocates state-owned seaport
Mkpoikana Udoma 31 August 2016, Sweetcrude, Port Harcourt – A call has been made to the Rivers State Government to construct a state-owned ...
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Fuel price: Labour expresses concern over ‘body language’ of marketers
31 August 2016, Sweetcrude, Abuja – The Nigerian Labour Congress, NLC, says the body language of petroleum products marketers in the count...
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NIPC rues impact of poor power supply on investment
Oscarline Onwuemenyi 31 August 2016, Sweetcrude, Abuja – Acting Executive Secretary of the Nigerian Investment Promotion Council, NIPC, Haj...
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BP, ExxonMobil, ConocoPhillips ‘quit’ Alaska LNG project
31 August 2016, Lagos – BP, Conoco Phillips and ExxonMobil said that the 65-billion dollar mega-project would be too unprofitable for them ...
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NLNG awaits govt directives on downstream investment
31 August 2016, Abuja – The Nigeria LNG Limited, NLNG, is awaiting directives from the Vice President’s office to commence investment in th...
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NNPC charges NAPE to improve hydrocarbon reserves
31 August 2016, Abuja – Opting to spare nothing to chance to replenish Nigeria’s depleting hydrocarbon reserves, the Nigerian National Petr...
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Ajaokuta Steel: How Fayemi copied 2014 concession agreement
*Experts say new deal with GINL unfavourable to Nigeria Kunle Kalejaye 31 August 2016, Sweetcrude, Lagos – Less than one month after the Fe...
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Oil spill: Community accuses Total of destroying properties, brutalising residents
*We can never set soldiers against our host community – Total Mkpoikana Udoma 31 August 2016, Sweetcrude, Port Harcourt – Residents of Odie...
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Govt set to launch petroleum road-map, gas policy
Kunle Kalejaye 31 August 2016, Sweetcrude, Lagos – The Federal Government is set to launch a Petroleum Road-Map designed in the form of pol...
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Bulk trader moves to deflect poor remittances by Discos to Gencos
Oscarline Onwuemenyi 31 August 2016, Sweetcrude, Abuja – The Nigerian Bulk Electricity Trading Plc, NBET, also known as the Bulk Trader, s...
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Don’t bomb Niger Delta, Umar warns Buhari
30 August 2016, Kaduna – Former Military Governor of Kaduna State, Col. Abubakar Umar(retd), on Tuesday warned President Muhammadu Buhari a...
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Forex market trades $327m, foreign investors buy bonds
30 August 2016, Lagos – The nation’s foreign exchange market recorded $327m worth of transactions on Monday, about six times more than its ...
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External reserves rise by $595m in five days
30 August 2016, Lagos The nation’s foreign exchange reserves have increased by $595m to hit a one-month high of $26.196bn, the latest data...
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Oil exploration: Lagos Assembly seeks protection for host communities
30 August 2016, Lagos – The Lagos State House of Assembly on Monday called for a stakeholders’ meeting of government officials, oil investo...
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No prepaid meter, no payment of electricity bills, consumers threaten EKEDC
30 August 2016, Lagos – Electricity consumers in Ijeshatedo in SuruLere Local Government Area, Lagos State, have threatened not to pay thei...
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SPDC JV trains more youths on power plant operations
30 August 2016, Sweetcrude, Port Harcourt — The Shell Petroleum Development Company (SPDC) operated Joint Venture has trained 15 engineerin...
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Financial market products & services update
30 August 2016, Sweetcrude, Houston — Local and international financial market products and services update. NIGERIA: THE Central Bank of N...
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Oil market rebalancing could take until end 2017 – Shell
30 August 2016, Stavanger, Norway — The huge global oil oversupply that has weighed on prices for the past two years may not clear until th...
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Oil prices rise on U.S. weather disruption, OPEC action speculation
30 August 2016, London/Singapore — Oil futures rose on Tuesday supported by production suspensions in the U.S. Gulf due to an expected trop...
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OPEC daily basket price stood at $45.44/b
30 August 2016, Sweetcrude, Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $45.44 a barrel on Monday, compared with...
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OPEC Secretary-General meets Nigerian Ambassador
30 August 2016, Sweetcrude, Vienna, Austria — OPEC Secretary General HE Mohammad Sanusi Barkindo met with HE Gazing Jessy Napmwang Dangtim,...
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Masari blasts Niger Delta leaders, says they used oil money as ‘pocket money’
He asked the Federal government to publish how much the region has received since the 13 percent derivation started. More »
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Bank earmarks N100m to boost NEPC’s non-oil exports
Awolowo added that the scheme had been part of the Council’s efforts to reposition the non-oil sector, re-write the narrative of the Counci...
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Breaking News: Militants blow another facility in Delta
30 August 2016, Ughelli – Despite the ongoing military “Operation Crocodile Smile” in the Niger Delta region, an Urhobo militant group, Nig...
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You can win battle, not oil war, Avengers tell Buhari
30 August 2016, Warri – The Niger Delta Avengers, NDA, has rebuffed President Muhammadu Buhari’s threat to give Niger Delta militants the B...
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We’ll protest naked to summon wrath of gods against govt, gas company over oil spillage – A’Ibom women
30 August 2016, Nsit Ibom – Women of Obotim Nsit community, Nsit Ibom Local Government Area, Akwa-Ibom State have vowed to protest nude to ...
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Nigeria lost N105.9bn to gas flaring in six months
30 August 2016, Abuja – Nigeria lost about $336.33 million in the first half of 2016, as oil and gas companies operating in the country fla...
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NLNG awaits VP’s directives on downstream investment
“We are optimistic that he is going to roll out a plan and that plan will serve the interest of a number of stakeholders within that area,”...
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Embrace dialogue or be treated like Boko Haram, Buhari warns militants
He said, "The militants must dialogue with the federal government or be dealt with in the same way like Boko Haram. We are talking to ...
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PwC to audit TCN’s account for first time in 10 years
30 August 2016, Abuja – The Transmission Company of Nigeria (TCN) has said that it will open its books to external auditors to review for t...
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Nigeria not a good destination for investment – Gas suppliers
30 August 2016, Lagos – Stakeholders in Nigeria’s oil and gas industry have passed a verdict that following the slash in domestic gas supp...
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‘World Class’ Nickel reportedly discovered in Nigeria
Nickel is primarily sold for first use as refined metal. About 65 percent of it consumed in the West is used to produce stainless steel. Mo...
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Niger Delta Avengers finally announce halt to hostilities
"We have listened carefully and halted hostilities in the Niger Delta," said the Avengers in the statement, presented as an ...
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Investors to inject $14bn into Nigerian economy
30 August 2016., Abuja – International investors, under the aegis of Greenstone Capital International Africa and Tacnero Global, have annou...
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Nigeria will be among top investment countries in 2019 – Buhari
Nigeria is currently ranked 169 out of 189 countries by the World Bank according to the Bank's 2016 Ease of Doing Business report. More...
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Govt has made adjustments to promote renewable energy – NERC
30 August 2016, Abuja – The Nigerian Electricity Regulatory Commission (NERC) has said that it has made remarkable adjustments to accommoda...
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Gas has potential to transform Africa – Seplat MD
29 August 2016, Lagos – Chairman of Seplat Petroleum Development Company, ABC Orjiako has noted that gas has the potential to transform Afr...
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Maritime workers accuse NPA, terminal operators of swindling govt
29 August 2016, Lagos – Maritime Workers Union of Nigeria (MWUN) has accused the Nigerian Ports Authority (NPA), terminal operators and shi...
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Tanzanian leader eager for gas project
29 August 2016, Arusha — Tanzania is bracing to fast-track the construction of a Liquefied Natural Gas (LNG) plant in the Southern region o...
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Africa: Oil producers see little relief at US$45
29 August 2016, Vienna — International crude oil prices hovered at $45 a barrel amid falling demand and an excess of supply according to th...
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Lagos - Improved margins and freight rates have boosted price offers for both heavy and sweet West African crude oil as at Friday, November ... -
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