Oil, Gas and Energy

The new Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Kuwaiti’s Haitham Al Ghais, yesterday engaged the Nigerian media on his immediate plans for the oil industry, hours after he assumed duty as the new head of the organisation. Al Ghais,…

The Minister of State for Petroleum Resources, Chief Timipre Sylva, yesterday has said the future of Africa’s oil and gas industry remains very bright despite the challenge posed by energy transition. The minister stated this in Lagos at the 45th Nigeria Annual International…

The Manufacturers Association of Nigeria (MAN) has appealed to the federal government to remove the 7.5 per cent Value Added Tax (VAT) on automotive gas oil (AGO) also known as diesel, pending the normalisation of the international supply system and also prioritise…

The Nigerian National Petroleum Company Ltd, remitted $2.7 billion into its accounts with the Central Bank of Nigeria (CBN) between January and June this year, a document made available to newsmen at the weekend has revealed. This disclosure counters CBN’s claim on…

Algeria, Nigeria and Niger have signed a Memorandum of Understanding (MoU) to build a natural gas pipeline across the Sahara Desert, Algeria’s Energy Minister, Mohamed Arkab, announced yesterday. In a related development, ExxonMobil and Chevron yesterday smashed profit records in Q2 as…

Until the Dangote Refinery comes on stream, there may be no respite from aviation fuel crisis rocking both airlines and the industry at large. The Minister of Aviation, Hadi Sirika, said this in reaction to the astronomical rise of aviation fuel, just as…

Employees of Addax Petroleum Development Nigeria have embarked on an industrial action over anti-labour practices. Addax, owned by China’s Sinopec Group, has four Oil Mining Licences operating the assets in Production Sharing Contract (PSC) with the Nigerian National Petroleum Company (NNPC) before its…

Many operators in the oil and gas sector yesterday told the House of Representatives Committee investigating money paid on subsidy by the Federal Government that they have not received any subsidy payment from the government since 2015. The companies said the transactions…

THE Nigerian National Petroleum Company Limited (NNPC Ltd) has debunked media reports that it has commenced retrenchment of its workers after transitioning to a commercially driven entity. The Group General Manager, Group Public Affairs Department of the NNPC Ltd., Garba Deen Muhammad, said…

French oil and energy company TotalEnergies has begun production from the Ikike field in Nigeria, which is expected to deliver peak production of 50,000 barrels of oil equivalent per day by the end of 2022, it said on Monday. The field production…