Oil & Gas

Oil prices rise on trade deal hopes, OPEC supply cuts

Ihesiulo Grace 4 March 2019 0

Oil prices rose on Monday, buoyed by output cuts by OPEC and reports that the United States and China are close to a deal to end a year-long tariff row. International Brent futures were at 65.25 dollars a barrel at 07:13 GMT, up 18 cents, or 0.3 per cent, from their last close. U.S. West […]

Oil & Gas

NNPC resolves to encourage local investors

Ihesiulo Grace 24 March 2018 0

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Dr. Maikanti Baru, has restated the corporation’s commitment to support indigenous companies operating in the oil and gas industry to grow to their fullest potential.   The GMD who stated this in Lagos on Thursday at the official unveiling of 11 new helicopters to […]

Analysis Headlines Oil & Gas Politics

Kachikwu v Baru face-off – Matters Arising

Ihesiulo Grace 1 November 2017 0

Svetlana Alliluyeva, the youngest child and only daughter of ruthless Soviet dictator, Joseph Stalin once famously said that “the one good thing about not seeing you is that I can write you letters.” In whatever form or name it comes, whether letter, memo or missive, the act of writing letters to those in authority appears […]

Nigeria Oil & Gas

NNPC starts oil exploration in Nasarawa

Ihesiulo Grace 27 October 2017 0

The Nigerian National Petroleum Corporation (NNPC) has commenced exploration activities in the Benue Trough. The Group Managing Director of the Corporation, Mr. Maikanti Baru, announced this development during a visit to the Governor of Nasarawa State, Mr. Umaru Tanko Almakura in Lafia. Baru said the visit was in fulfilment of the Presidential mandate which directed […]

Energy Oil & Gas

Oando Gas and Power rebrands to Axxela Limited

Ihesiulo Grace 10 October 2017 0

Oando Gas and Power has announced the rebranding of the company and change of its corporate identity to Axxela Limited. The rebranding of Oando PLC’s Midstream business subsidiary was said to be in a bid to renew its ambition and strategic growth plan. This change was not entirely unexpected following last year’s acquisition of a […]

Headlines News Nigeria Oil & Gas

Kachikwu lied – NNPC

Ihesiulo Grace 9 October 2017 0

The Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Dr Mainkanti Baru, has claimed that the minister of state for petroleum, Dr Ibe Kachikwu, lied about not being involved in the contracting process. “Furthermore, contrary to the assertion of Dr. Kachikwu that he was never involved in the 2017/2018 contracting process for the […]

Analysis Oil & Gas

It’s one step forward, two backward for FG as another fuel scarcity looms

Ihesiulo Grace 5 October 2017 0

If there is one thing Nigerians dread, it is fuel scarcity as it heralds several other pains. However, it seems Nigerians should prepare as another fuel scarcity looms large in the horizon, if indications coming from the various unions involved are anything to go by. For the Federal Government (FG), though, it’s back to the […]

Energy Headlines News Nigeria Oil & Gas

Ministry responds to leak of Kachikwu’s letter

Ihesiulo Grace 3 October 2017 0

The Ministry of Petroleum Resources has responded to the leak of the Minister of State, Ibe Kachikwu’s letter, to the public. In a press statement signed by Idang Alibi, the ministry bemoaned the leak of a ‘private’ communication to the public. The full statement is reproduced below. PRESS STATEMENT PUBLICATION OF A CONFIDENTIAL OFFICIAL CORRESPONDENCE

Headlines News Nigeria Oil & Gas

OPEC agrees with Kachikwu, endorses Nigeria’s exemption from oil quotas

Ihesiulo Grace 22 September 2017 0

The meeting of the Joint Ministerial Monitoring Committee of OPEC and Non OPEC Countries in Vienna on Friday endorsed Nigeria’s position that the exemption granted it at last year’s conference be sustained until the country stabilises its crude oil production. Dr. Emmanuel Ibe Kachikwu, Nigeria’s Minister of State for Petroleum Resources, who led Nigeria’s delegation

News Nigeria Oil & Gas

NNPC begins search for oil in Sokoto

Ihesiulo Grace 20 September 2017 0

The Nigeria National Petroleum Cooperation (NNPC) has said that it has started the process leading to the exploration of oil and gas in the Sokoto basin. Group Managing Director, Maikanti Kachalla Baru, said this when he received the Governor of Sokoto State, Aminu Waziri Tambuwal, who paid him a visit at the NNPC Towers in […]

Energy Oil & Gas

Nigeria’s FG to end gas flaring soon, Boroh discloses

Ihesiulo Grace 8 September 2017 0

Nigeria’s federal government will soon introduce a programme to end gas flaring in the Niger Delta region, Paul Boroh, the Special Adviser to the President on Niger Delta Affairs said Friday. Boroh disclosed this during the inauguration of a water project in Gelegele-Gbene community near Benin in Ovia North East Local Government Area of Edo. […]

Business Capital Market News Oil & Gas

Mobil changes name

Ihesiulo Grace 8 August 2017 0

Mobil Oil Nigeria has sent a notice to the Nigerian Stock Exchange (NSE), informing dealing members and the investing public of its change of name from Mobil Oil Nigeria to 11 Plc. The change of name will take effect on the Nigerian Stock Exchange (NSE) on Friday, 11 August. NIPCO Plc, had last year acquired […]

Headlines Oil & Gas

NNPC, Shell, Chevron sign agreement to boost FG’s revenue by $16bn

Ihesiulo Grace 4 August 2017 0

Two sets of alternative financing agreements on Joint Venture (JV) projects to boost reserves and production in line with government’s aspiration were executed in London on Monday between the Nigerian National Petroleum Corporation (NNPC) and two of its JV partners: NNPC/Chevron Nigeria Limited (CNL) JV and NNPC/Shell Petroleum Development Company (SPDC) JV. The two

News Oil & Gas

Oil& gas: FEC seeks local refining as against products’ importation

Ihesiulo Grace 28 July 2017 0

The Ministry of Petroleum Resources is pushing for a refining processing environment and moving away from exporting to refining petroleum products. This is contained in the approved National Petroleum Policy by Federal Executive Council (FEC) meeting held on Wednesday 19th July, 2017 in Abuja, which ended on a high note as the cabinet meeting presided […]

Oil & Gas

OPEC to cap Libya, Nigeria oil output

Ihesiulo Grace 18 July 2017 0

The market is on a recovery track due to rising global demand, Kuwait’s Organisation of the Petroleum Exporting Countries Governor Haitham Al-Ghais told Reuters. In an effort to eradicate a supply glut, the OPEC is curbing output by 1.2 million barrels per day (bpd) until March 2018, while Russia and other non-OPEC producers are cutting […]

News Oil & Gas

Delta oil community urges FG to prevail on NPDC to give jobs to indigenes

Ihesiulo Grace 6 July 2017 0

Gbaramatu Traditional Council in Warri South West Local Government Area of Delta State has urged the Federal Government to prevail on the management of the Nigerian Petroleum Development Company (NPDC), to honour the agreement reached with the people of the oil rich Gbaramatu Kingdom to sustain the prevailing peace in the area. The spokesman of […]

Nigeria Oil & Gas

Our goal is to add value to the society- Chevron

Ihesiulo Grace 21 June 2017 0

…as Company sponsors AWARES 2017 for journalists International oil company, Chevron Nigeria Limited (CNL), has said that its long term interest is to add value to society, creating value for its stakeholders. The reassurance was given in the Welcome Address by the Company’s General Manager, Policy, Government and Public Affairs, Esimaje Brikinn at the ongoing

News Oil & Gas

Niger Delta traditional rulers slam NLNG for failure to pay statutory 3% of its annual budget to NDDC

Ihesiulo Grace 25 May 2017 0

Traditional rulers from across the Niger Delta under the auspices of Traditional Rulers of Oil Mineral Producing Communities of Nigeria (TROMPCON), have lampooned the Nigeria Liquefied Natural Gas Limited (NLNG), for refusing to meet its statutory obligation of the payment of three percent of its annual budget to the Niger Delta Development Commission (NDDC) thereby, […]

Oil & Gas

GE proposes to invest in Nigeria’s three refineries

Ihesiulo Grace 25 January 2017 0

  General Electric, GE, a US multinational company, Tuesday in Abuja, proposed to invest in the nation’s three refineries located in Port Harcourt, Warri and Kaduna. GE, in a presentation to NNPC GMD, Dr. Maikanti Baru, and his team stated that the company’s teams of partners, including its consortium involving the Engineering, Procurement and Construction […]

News Oil & Gas

50 Companies bid for NNPC’s boat supply contract

Ihesiulo Grace 15 January 2017 0

A TOTAL of 50 companies recently submitted bids to partake in the provision of sea worthy Tug boats on charter time basis for the maritime operational requirements of the Nigerian National Petroleum Corporation  (NPC) in Lagos, Warri and Port Harcourt. The public bid opening event which was held at the Abuja corporate headquarters of the […]