Mele Kyari: NNPC mulls growing nation’s reserve to 40 billion barrels by 2023

The Nigerian National Petroleum Corporation (NNPC) says its target to grow the nation’s reserve to 40 billion barrels by the year 2023. Malam Mele Kyari,...

Mixed reactions trail FG’s deregulation of downstream oil sector

Edith Ike-Eboh Some experts in the oil and gas sector have expressed concern over Federal Government’s pronouncement of deregulating the downstream oil and gas sector...

US oil slips below $15 per barrel

US oil prices fell heavily on Monday and slipped below $15 a barrel on renewed storage concerns as the coronavirus throttles demand, even as...

Virtually all Equatorial Guinea oil business on hold – minister

Virtually all oil and gas projects and licensing rounds are on hold in Equatorial Guinea as the country braces for an extended oil downturn...

Brent crude shoots up 11.8%, West Texas 30% on U.S., Iranian tensions

EmekaUgwuanyi AN upward swing in the prices of oil on Thursday rekindled hope of rebounds at the international market. Brent crude, the international benchmark which is...

COVID-19: Why oil vessel, MT Chloe, was barred from Tin Can Port

An indigenous company, Vewat Shipping Limited, has refuted claims that an oil vessel, for which it was appointed as agent, was stopped from berthing...

Oil price climbs to $29 per barrel

Emeka Ugwuanyi It was cheery news in the global oil industry on Thursday as the price of international benchmark grade, Brent crude, climbed $4.40 or...

NUPENG threatens strike over sacked refinery workers

Mike Odiegwu, Port Harcourt The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) have threatened to commence an industrial action following the decision of...

IPMAN kick against new petrol pump price, says members incurred N5.5 billion loss from...

The Independent Petroleum Marketers Association, IPMAN, have on Wednesday kicked against the N123.50 new fuel pump price saying it members will not comply with...

Fuel price reduction threatens our businesses – station owners

Owners and operators of petrol stations across the country, on the platform of Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, on Wednesday,...

Oil marketers back govt’s fuel price reduction

 Emeka Ugwuanyi OIL marketers under the aegis  of Major Oil Marketers Association of Nigeria (MOMAN) on Wednesday backed Federal Government’s decision to cut the pump...

Shell income drops by $7.5 billion

ROYAL Dutch Shell has recorded a drop of $7.5 billion in its income. The oil giant’s 2019 yearly report showed that its income in...

One billion barrels of crude oil discovered, says Sylva

John Ofikhenua, Abuja Minister of State for Petroleum Resources, Chief Timipre Slyva, said on Wednesay that about one billion Barrels of Crude oil have been...

Downstream oil sector will witness changes in few years – DPR

By Edith Ike-Eboh Mr Sarki Auwalu, the Director, Petroleum Resources, Department of Petroleum Resources (DPR) says the downstream oil sector will in the next few...

Fg targets June for fiscal landscape for oil, gas sector – Kyari

By Edith Ike-Eboh The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Malam Mele Kyari, said that by June, the oil industry would...

Scarcity looms as NUPENG suspends fuel distribution in Badagry

By Raji Rasak Most of the petroleum stations in Badagry communities have closed as the National Union of Petroleum and Natural Gas Workers of Nigeria...

NLNG, Eni sign Sale and Purchase Agreement

By Edith Ike-Eboh The Nigeria Liquified Natural Gas Limited (NLNG) says it has signed an LNG Sale and Purchase Agreement (SPA) with ENI for some...

NNPC to back Lee Engineering on Atlas Cove projects

The Group Managing Director, Nigeria National Petroleum Corporation (NNPC) Mr. Mele Kyari has commended Lee Engineering and Construction Company for the progressive execution of...

DPR seals five petrol, gas stations in Kogi for cheating

By Friday Idachaba The Department of petroleum Resources (DPR), Kogi office, has sealed three petrol filling stations for adjusting their pumps to dispense fuel below...

Alternative fuel at N97 per litre coming

 John Ofikhenua, Abuja AN alternative source of fuel that will be cheaper than the N145 per litre of petrol is in the works, the government...
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