Oil, Gas and Energy

As gale of International Oil Companies(IOCs) divestment from Nigeria deepens, Norwegian energy firm, Equinor has hired Standard Chartered to assist in the sale of its major stake in an offshore oilfield in Nigeria. The potential sale of Equinor’s 20 per cent stake in…

Nigerian indigenous oil and gas company, Eroton Exploration and Production Company, has confirmed a well-head fire incident that occurred at the Akaso field of the Cawthrone Channel operational area of its OML 18 Asset in Degema Local Government Area of River State…

The Independent Petroleum Marketers Association of Nigeria has said there is confusion in the oil sector in Nigeria, following the prolonged fuel scarcity that has been hitting hard on the country for months. The Deputy National President, IPMAN, Zahra Mustapha, said this on…

The scarcity of Premium Motor Spirit, popularly called petrol, grew worse across the country on Thursday, as massive queues were witnessed in Abuja, Lagos, Port Harcourt, Calabar, Warri, Nasarawa, Minna, among other places. Oil marketers stated that the scarcity became worse due to…

The failure by the Nigerian National Petroleum Corporation Limited (NNPCL) to effect duty payments on imported petroleum products as well as extensive waivers granted the  Niger Delta Development Commission (NDDC) has led to a revenue loss of N180 billion to Federal Govetnment. Findings…

The Federal Government, on Monday, announced that the licensing round for seven deep offshore open oil blocs, which commenced on January 3, 2023, would last for four months. It invited investors from across the world with capability and experience in deep water operations…

The Nigerian National Petroleum Company Limited on Friday announced the discovery of oil in Nasarawa State and said it was set to drill the first foot of an oil well in the Northern state. It said the discovery was in continuation of its…

The Federal Government on Thursday wooed Spanish investors to invest in Nigeria’s 2022 deep offshore mini-bid round, as it also announced that Spain would support Nigeria with security in the oil and gas sector. It wooed the investors during a meeting between the…

The Nigeria Upstream Petroleum Regulatory Commission has shortlisted 139 firm for its Nigerian Gas Flare Commercialisation Programme. The announcement was made in a statement signed by the commission’s Chief Executive Officer, Gbenga Komolafe, on Friday. Komolafe noted that over 300 firms applied to revalidate…

The Nigerian Upstream Petroleum Regulatory Commission on Thursday, issued a seven-day ultimatum for all lease and licence holders operating in Nigeria’s oil and gas sector, to disclose the real owners of their companies. In the directive signed by its Chief Executive, Gbenga Komolafe,…