News Oil & Gas

NOSDRA confirms discharge of 45,000 barrels of crude at Angiama fields, Bayelsa

Ihesiulo Grace 7 September 2020 0

By Aherhoke Okioma National Oil Spills Detection and Response Agency (NOSDRA) has confirmed the discharge of 45,000 barrels of crude at Angiama oilfields in Bayelsa. The Angiama oilfield operated by Shell Petroleum Development Company (SPDC) is located in the swamps of Southern Ijaw Local

Oil & Gas

Festus Osifo emerges PENGASSAN president

Ihesiulo Grace 5 September 2020 0

By Joy Obakeye Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has elected national officers to run its affairs in the next three years (2020- 2023) with Comrade Festus Osifo of Total Nigeria E&P Branch emerging as the 16th President of the Association. He has defeated his sole challenger, Comrade Roland Fredericks of […]

Oil & Gas Opinion

OPINION: The Passage Of Petroleum Industry Bill Will End NNPC’s Accountability Loophole

Ihesiulo Grace 3 September 2020 0

By Habib Sheidu After the Niger Delta Development Commission (NDDC) probe saga, there are now insinuations by every Tom, Dick, and Harry over the level of corruption and mismanagement that might be going on in the Nigerian National Petroleum Company (NNPC). With the recent probe of contracts in the NDDC, attention, and of course, the […]

Oil & Gas

Oil prices rise on falling U.S. dollar

Ihesiulo Grace 2 September 2020 0

Oil prices recovered on Tuesday, erasing overnight losses, as investors moved into risk assets and away from the safe-haven U.S. dollar, which tumbled to multi-year lows. Brent crude futures climbed 49 cents or 1.1 per cent to $45.77 a barrel at 0406 GMT. The U.S. West Texas Intermediate (WTI) crude futures rose 37 cents or […]

Business News Oil & Gas

BUA Group diversifies into oil and gas, partners with French company Axens

Ihesiulo Grace 2 September 2020 0

BUA Group has strengthened its conglomerate by diversifying into oil and gas, Daily Times gathered. It signed a deal with France’s largest hydrocarbons group, Axens, who will now refine 200,000 barrels per day of crude oil in the country. the project would be located in Akwa Ibom state. In the contract that was signed between […]

Oil & Gas

‘How FOREX illiquidity on I&E window disrupts petrol importation’

Ihesiulo Grace 30 August 2020 0

By Tunde Shorunke Foreign exchange (FOREX) illiquidity in the Investor and Exporter (I&E) FX window has continued to disrupt the importation of Premium Motor Spirit (PMS), otherwise called petrol. In fact findings, Daily Times discovered that the illiquidity of FOREX is attributed to the inability of the dollar to be traded (bought/sold) on Naira demand, […]

Oil & Gas

Kyari tasks stakeholders on new initiatives to reposition oil sector

Ihesiulo Grace 26 August 2020 0

By Doosuur Iwambe For the Nigerian Petroleum Industry to move forward in the face of the COVID-19 pandemic, the Nigerian National Petroleum Corporation (NNPC) Group Managing Director, Mallam Mele Kyari, has urged stakeholders to evolve innovative ways to reposition the sector for sustainability. The NNPC GMD, speaking at the opening ceremony of the Society of […]

News Oil & Gas

Rahamaniyya, Sahara to settle oil deal rift out of court in national interest

Ihesiulo Grace 21 August 2020 0

Out of the desire to ensure a smooth supply of petroleum products into the Nigerian market and to strengthen the nation’s oil sector, two of the key players, Rahamaniyya Oil and Gas and Sahara Energy have agreed to settle their differences out of court. Daily Times gathered that both parties’ agreement to withdraw legal action […]

Oil & Gas

Total ready to work with FG to boost exploration activities amid COVID-19 pandemic – Sangster

Ihesiulo Grace 20 August 2020 0

Joy Obakeye Total E&P Nigeria have said it is ready to work with the Federal Government to introduce and boost exploration activities and eliminate bottlenecks in the move to shore up the country’s depleting Oil and Gas reserves impacted by the ravaging Covid-19 pandemic and low oil prices. According to the Managing Director of the […]

Oil & Gas

Tanker drivers to begin strike as talks with LASG fail

Ihesiulo Grace 10 August 2020 0

The National Union of Petroleum and Natural Gas Workers (NUPENG) has said that the planned strike by Petroleum Tanker Drivers in Lagos would start on Monday as its meeting with Lagos State Government ended in deadlock. READ ALSO: IPMAN to stop movement of adulterated products by… The South-West Chairman of NUPENG, Mr Tayo Aboyeji, disclosed […]

Business News Oil & Gas

MAN demands passage of PIB bill to regulate PMS pump price

Ihesiulo Grace 7 August 2020 0

Manufacturers Association of Nigeria (MAN) has urged the Federal Government to make efforts at revamping the nation’s ailing refineries and regulate the fluctuating pump price of petrol. Mr Ambrose Oruche, the Acting Director-General of MAN, also called for quick passage of the Petroleum Industry Bill (PIB) when he spoke with newsmen on Thursday in Lagos. […]

Oil & Gas

NPA expects 14 ships with petroleum products, others at Lagos port

Ihesiulo Grace 11 July 2020 0

The Nigerian Ports Authority (NPA) says it is expecting 14 ships laden with petroleum products, food items and other goods from Saturday to July 25. The NPA made this known in its publication, `Shipping Position’, a copy of which was made available to the News Agency of Nigeria (NAN) in Lagos on Saturday. According to […]

Featured Oil & Gas

Just in: NNPC unveils COVID-19 contact tracing App

Ihesiulo Grace 3 June 2020 0

The Nigeria National Petroleum Corporation (NNPC) says it has developed a COVID-19 contacts-tracing software application that can be deployed in all its locations across the country. The corporation disclosed this in a statement issued by its spokesman, Dr Kennie Obateru, in Abuja on Wednesday. He said the idea was in line with the Transparency, Accountability […]

Oil & Gas

We can’t sell petrol at new pump price– IPMAN

Ihesiulo Grace 2 June 2020 0

The Independent Petroleum Marketers Association of Nigeria, IPMAN, has said it can sell petroleum product at N123.5 per litre and not N121.5 new PPMC pump price. IPMAN who reacted to the new price modulation announced by the Petroleum Pricing Regulatory Agency, PPPRA, says the agency has advised them to either sell at the new pump […]

Oil & Gas

Oil and gas coys drag OGZFA to court over regulatory incursions

Ihesiulo Grace 19 May 2020 0

Some oil and gas free zone firms have dragged the Oil and Gas Free Zones Authority (OGFZA) to court over insistence to regulate it’s activities.The firms are seeking judicial intervention over alleged attempt by the agency to regulate the oil and gas operations within Snake Island Integrated Free Zone (SIIFZ), while describing the OGZFA plan […]

Oil & Gas

OPEC: All allies except Mexico agree on drop in oil production

Ihesiulo Grace 10 April 2020 0

The Organization of the Petroleum Exporting Countries (OPEC) announced on Friday that a webinar meeting between global energy ministers, with the exemption of Mexico, had resulted in an agreement to reduce oil production to stabilize the market. In a meeting that stretched late into Thursday evening, members of the OPEC+ cartel outlined a plan to […]

Oil & Gas

Filling stations in Jos yet to adjust to new pump price

Ihesiulo Grace 21 March 2020 0

 Most filling stations in Jos and environs are yet to adjust to the new price regime of N125 per litre for Premium Motor Spirit (PMS). READ ALSO: Pump price: Minister tasks commercial drivers to slash cost of transport fares The News Agency of Nigeria (NAN) reports that the Federal Government on Wednesday reduced the pump […]

Oil & Gas

Oil crashes after Saudi Arabia starts price war amid slumping demand

Ihesiulo Grace 9 March 2020 0

Oil prices plummeted around 30% on Monday after Saudi Arabia slashed its official selling prices and set plans for a dramatic increase in crude production next month, starting a price war even as spread of the coronavirus erodes global demand growth. Prices fell by as much as a third following Saudi Arabia’s move after Russia […]

Oil & Gas

Oil producers debate production cuts as virus outbreak weaken demand

Ihesiulo Grace 5 March 2020 0

The Organisation of the Petroleum Exporting Countries (OPEC) and allied oil producers (AOP) on Thursday set to meet in Vienna to coordinate their production policies as global energy demand is expected to fall. On Thursday, oil ministers from the 14 OPEC countries are gathering at the cartel’s headquarters to discuss possible output reductions. READ ALSO: […]

Foreign Oil & Gas World

Oil steady as fears over U.S.-Iran conflict ease, focus turns to trade deal

Ihesiulo Grace 13 January 2020 0

Oil prices held steady on Monday as fears of conflict between the United States and Iran eased, with investors shifting their focus to this week’s scheduled signing of an initial U.S.-China trade deal, which could boost economic growth and demand. READ ALSO: Oil prices fall as alarm over Iran rocket strike fades Brent crude LCOc1 […]