NNPC says adulterated petroleum products from vandalised pipelines in circulation –
31 March 2017, Sweetcrude, Lagos – The Nigerian National Petroleum Corporation, NNPC, has alerted the public to the presence of adulterated...
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IMF urges Nigeria to start belt tightening, cut Naira curbs
‘Stronger macroeconomic policies are urgently needed’: IMF Nigeria should start fiscal consolidation, monetary tightening 31 March 2017, Sw...
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Oil theft: NSCDC suspends two officers
31 March 2017, Sweetcrude, Abuja – The Nigeria Security and Civil Defence Corps (NSCDC) has suspended two of its officers for alleged invol...
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Investors flock to Nigeria Eurobonds, avoid the Naira
*Yield on bond offering tightened to 7.5% from 7.8% guidance *Orders for six times offering of $500 million in notes 31 March 2017, Sweetcr...
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Ghana names AfDB’s Ernest Addison as Central Bank governor
*New governor is a former research director at central bank *Addison seen striking balance between price stability, growth 31 March 2017, A...
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Nigerian govt reiterates commitment to Niger Delta development
The Group is charged with the responsibility of working with State Governments, development partners, oil companies and other stakeholders ...
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Senate to receive final report on PIGB April 25
During the session, the committee members, among others, would receive further input, deliberate on their findings and recommendations, and...
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Oil price seen struggling as U.S. output weighs against OPEC cuts
31 March 2017, London — Oil analysts have grown more unsure that OPEC’s supply cut will be enough to offset the increase in U.S. production...
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CBN approves licence for Development Bank with N398.45bn seed fund
…As Finance Ministry Announces DBN Management, Board Members Oscarline Onwuemenyi 31 March 2017, Sweetcrude, Abuja – The Central Bank of Ni...
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Oil retreats, set to become worst-performing asset in first quarter
31 March 2017, London — Oil prices fell on Friday after a three-day rally ran out of steam due to a stronger dollar, promising to notch up ...
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Glencore in talks to sell global oil storage stakes
31 March 2017, London — Swiss-based trading and mining giant Glencore is selling a bundle of its global oil storage stakes, sources told Re...
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OPEC daily basket price close at $50.20/b
31 March 2017, Sweetcrude, Vienna, Austria — The price of OPEC basket of thirteen crudes stood at $50.20 a barrel on Thursday, compared wit...
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President Buhari forwards fresh NDDC nominees for Ondo, Abia, Imo to Senate
Oscarline Onwuemenyi 31 March 2017, Sweetcrude, Abuja – President Muhammadu Buhari yesterday forwarded to the Senate three new names to the...
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Oil theft: NSCDC impounds 152 trucks, gets 315 jailed in Rivers
Mkpoikana Udoma 31 March 2017, Sweetcrude, Port Harcourt – The Rivers State Command of the Nigerian Security and Civil Defence Corp, NSCDC...
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NNPC urges Nigerians to be wary of adulterated fuel
30 March 2017, Sweetcrude, Abuja – The Nigerian National Petroleum Corporation, NNPC, has cautioned Nigerians against adulterated fuel, say...
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Kaduna Electric MD advocates strategy to end power sector challenges
30 March 2017, Sweetcrude, Kaduna – The Managing Director of Kaduna Electric, Engr. Garba Haruna has suggested what he called a triple act...
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US oil attracts more buyers as Nigeria loses markets
30 March 2017, Sweetcrude, Lagos – The United States exported crude oil to 26 different countries in 2016, compared with 10 countries the p...
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S. Africa mine communities ignored in design of social plans
*Communities should have right to veto mines, group says *Mining companies often don’t honor commitments: legal center 30 March 2017, Johan...
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Economic uncertainty envelops Gabon over fading oil industry
30 March 2017, Sweetcrude, Libreville/Dakar — Charles Lekabi lived comfortably as a driver for an oil company in Gabon’s industrial town of...
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Oil steady on Libya disruptions, bloated U.S. stockpiles
30 March 2017, London — Oil prices steadied on Thursday after two days of increases as bloated U.S. inventories limited the impact of suppl...
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Saudi Aramco formally appoints banks to advise on share sale
30 March 2017, London — Saudi Aramco has formally appointed JPMorgan Chase & Co, Morgan Stanley and HSBC as international financial adv...
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OPEC compliance with oil curbs rises in March
*UAE joins production cut 30 March 2017, London/Dubai — OPEC oil output is likely to fall for a third straight month in March, a Reuters su...
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OPEC daily basket price close at $49.54/b
30 March 2017, Sweetcrude, Vienna, Austria — The price of OPEC basket of thirteen crudes stood at $49.54 a barrel on Wednesday, compared wi...
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Nigerian govt seeks $150m World Bank loan to resuscitate mining Sector
The minister also said that they intended to establish Nigerian Solid Minerals Investment Fund (NSMIF) structured as a private sector-orien...
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NLNG revenue drops to $4.72bn in 2016
29 March 2017, Sweetcrude, Abuja — Nigeria Liquefied Natural Gas (NLNG) has recorded a significant decline in its earnings for 2016, as its...
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NNPC set to transform into an integrated energy company
He said the Corporation was already working on a project to generate four Megawatts (4MW) of electricity while also exploring the possibili...
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Govt to split PIB into 4 parts for easy passage – NNPC Boss
Baru said the NNPC was currently collaborating with the legislature and other industry stakeholders to ensure the passage of the Petroleum ...
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World Bank considers $150m loan for Nigeria’s mining sector
29 March 2017, Sweetcrude, Abuja – The World Bank is considering a $150 million loan that would go to boost activities in the Nigerian mini...
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We’re positioned for greater efficiency – Hadiza Usman
29 March 2017, Sweetcrude, Lagos – The Managing Director of the Nigerian Ports Authority, NPA, Ms Hadiza Bala Usman, has pledged to work to...
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Delta State Assembly approves N164m for Asaba IPP
29 March 2017, Asaba – The Delta State government will improve power supply in the state capital, Asaba, with N164 million. This follows ap...
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Nigeria: Export of unprocessed minerals will soon become offence
Sam Ikeotuonye 29 March 2017, Sweetcrude, Lagos – The Nigerian government says it will soon become an offence for anyone to take unprocesse...
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Nigeria’s revenue rising – NEITI
Oscarline Onwuemenyi 29 March 2017, Sweetcrude, Abuja – The Nigeria Extractive Industries Transparency Initiative, NEITI, has said that Nig...
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NNPC re-assures on Nigeria’s commitment to Trans-Sahara Gas Project
29 March 2017, Sweetcrude, Abuja – The Nigerian National Petroleum Corporation, NNPC, has re-stated Nigeria’s commitment to the successful ...
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Nigeria, Sao Tome spend $129m on JDZ operations
29 March 2017, Sweetcrude, Abuja – Nigeria and Sao Tome and Principe have so far spent over $129 million on the Joint Development Zone, JDZ...
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Egbin power threatens shutdown over TCN, gas, N100bn debt
*Nationwide blackout imminent Kunle Kalejaye 29 March 2017, Sweetcrude, Lagos — There are indications that Nigeria will be thrown into dark...
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Seven Energy replaces Ihenacho with Maheshwari
Kunle Kalejaye 29 March 2017, Sweetcrude, Lagos — Seven Energy Finance Limited, with its parent company Seven Energy International Limited ...
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Nigeria to showcase maritime potentials in Norway
Kunle Kalejaye 29 March 2017, Sweetcrude, Lagos — The Nigerian Maritime Administration and Safety Agency, NIMASA would be showcasing the po...
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Nigerian govt shops for increased investment in oil sector
Ike Amos 29 March 2017, Sweetcrude, Abuja — The Minister of State for Petroleum Resources, Mr. Emmanuel Kachikwu has declared that the Fede...
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OGTAN wants portion of NCDF for capacity building
Ike Amos 29 March 2017, Sweetcrude, Abuja — Oil and Gas Trainers Association of Nigeria OGTAN, said it had commenced talks with the Nigeria...
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Trelleborg successfully completes wet testing of NjordGuard™
29 March 2017, Sweetcrude, Lagos — Trelleborg’s offshore operation successfully completed a series of wet tests to verify the capabilities ...
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After six decades, U.S. set to turn natgas exporter amid LNG boom
29 March 2017, Houston — The last time the United States was a net exporter of natural gas was in 1957 when Dwight Eisenhower was president...
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MRS debunks expropriation of product throughput claims
“In a throughput contract, we act as a product bank to different customers who we throughput products for, but because of the operational p...
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OPEC daily basket price close at $48.84/b
29 March 2017, Sweetcrude, Vienna, Austria — The price of OPEC basket of thirteen crudes stood at $48.84 a barrel on Tuesday, compared with...
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2017 Budget: Saraki gives Thursday deadline to committees to submit reports
“After Thursday, we will have no alternative but go by the executive submission. This is the last time we are making this announcement. All...
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Court strikes out Ex-NNPC boss, Yakubu’s N1bn suit against EFCC, AGF
Yakubu had filed the suit before Justice Ahmed Mohammed of the Federal High Court in Abuja following his arrest on February 8, 2017 and his...
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Financial market products & services update
29 March 2017, Sweetcrude, Lagos — The local and international financial market products and services update. NIGERIA: Kemi Adeosun, minist...
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21 committees perform ovetsight functions on NNPC operations
Kunle Kalejaye 29 March 2017, Sweetcrude, Lagos — The Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Dr. Mai...
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Another community threatens to shut Agip operations
Mpkoikana Udoma 29 March 2017, Sweetcrude, Port Harcourt – Few weeks after a group known as the ONELGA Oil and Gas Landlords Families Assoc...
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Oil workers call for mass action over PIB
Mkpoikana Udoma 29 March 2017, Sweetcrude, Port Harcourt – Labour unions in the Nigerian petroleum industry – the Petroleum and Natural Gas...
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Bonga TAM utilise made in Nigeria products
Kunle Kalejaye 28 March 2017, Sweetcrude, Lagos — Indications are that the Shell Nigeria Exploration and Production Company, SNEPCo operate...
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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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