Oil, Gas and Energy

The Nigerian National Petroleum Company Limited on Friday launched an applications platform to monitor crude oil theft in the country. The company launched the app in Abuja at the signing of renewed Production Sharing Contracts (PSCs) agreements between NNPC and its partners in oil mining…

The Nigerian National Petroleum Company Limited and international oil companies operating in Nigeria, on Friday, signed various agreements that would ensure the production of about 10 billion barrels of crude oil and generate over $500bn revenue to all parties involved. NNPC officials and…

Seplat Energy, on Thursday, said it had not received any official notification from the Federal Government reversing its proposed acquisition of the entire share capital of Mobil Producing Nigeria Unlimited. The company also said it was seeking clarification from relevant authorities regarding the…

Nigeria’s crude oil production plunged by 2.3 million barrels in July 2022 when compared to what the country produced in the preceding month of June, data from the Organisation of Petroleum Exporting Countries showed on Thursday. In its latest Monthly Oil Market Report…

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday affirmed that the status quo remains with respect to the ExxonMobil/Seplat Energy share acquisition. The clarification by the NUPRC Chief Executive, Mr. Gbenga Komolafe, followed an earlier statement same yesterday that President Muhammadu Buhari had…

President Muhammadu Buhari has approved the acquisition of Exxon Mobil shares in the United States of America by Seplat Energy Offshore Limited. The president, in a release issued Monday by his Media Adviser, Femi Adesina, acting in his capacity as Minister of Petroleum…

Nigeria’s crude oil production decreased in July to an average of 1.08 million barrels per day (bpd) from 1.16 million the previous month. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said this in its latest crude oil and condensate production data for July…

The Organisation of Petroleum Exporting Countries on Wednesday raised Nigeria’s crude oil production quota for September 2022 to 1.83 million barrels per day, as Brent, the global benchmark for crude, dropped in price the same day. Data obtained from OPEC showed that the…

The price of kerosene used by several families have jumped to N800 per litre just as the market is beginning to adjust to the newly increased petrol and gas prices. Market survey by The PUNCH on Tuesday showed that one litre of cooking kerosene, sold…

Shell Petroleum Development Company (SPDC) of Nigeria has expressed concern that crude oil theft remains a major challenge affecting the Nigerian economy. The Head, Corporate Relations, Nigeria and Director SPDC of Nigeria Limited, Mr. Igo Weli, said this yesterday in Port Harcourt, during…