OIL & GAS

Nigeria now ranks seventh on Organisation of the Petroleum Exporting Countries’ crude oil production list, according to the organisation’s Monthly Oil Market Report for November, which examined oil production performance in October. Nigeria’s output was a mere 1.014 million barrels per day in…

Three years after the Nigerian National Petroleum Company (NNPC) Ltd discovered crude oil in commercial quantity in Northern Nigeria, President Muhammadu Buhari will tomorrow officially flag off the ground-breaking ceremony of the Kolmani OPLs 809 and 810 at the Kolmani field site…

Nigeria’s quest for energy transition received a huge boost on Wednesday as an indigenous firm, UTM Offshore Limited signed agreements with three technical partners –  Kellogg Brown and Root (KBR) UK; Japan Gas Corporation (JGC) and Technip Energies Limited – for the…

The efforts by the Nigerian government to ramp-up oil and gas production to generate more revenue have continued to receive a boost as Shell Nigeria Exploration and Production Company Limited (SNEPCo) Thursday announced that the 2022 Turnaround Maintenance (TAM) of the Bonga Floating Production Storage…

The Federal Government has identified about 213 gas blocks that are open for investments. A document obtained by The PUNCH titled, “Nigeria’s Cretaceous Basins: The Potentials for Gas,” put together by the Nigerian Upstream Petroleum Regulatory Commission, stated that the gas blocks were located in…

OPEC on Monday cut its forecast for 2022 global oil demand growth for a fifth time since April and further trimmed next year's figure, citing mounting economic challenges including high inflation and rising interest rates. Oil demand in 2022 will increase by…

The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mr. Mele Kyari yesterday said he has received several death threats from people who are not happy with efforts being made by the federal government to ensure increased…

The Nigeria Liquefied Natural Gas (NLNG) Limited has confirmed improvement in key crude oil transportation pipelines, insisting that its production has not been impacted by the massive flooding in the Niger Delta. NLNG spokesperson, Andy Odeh, confirmed that the success was recorded after…

The Independent Petroleum Marketers Association of Nigeria (IPMAN) says its members can no longer sell premium motor spirit (PMS) at the regulated price due to a “hostile” business environment. Through petrol subsidy, the government fixed the price of petrol for consumers below…