OIL & GAS

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…

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…