OIL & GAS

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…

The Nigerian National Petroleum Company Limited (NNPCL) has offered workers willing to exit the firm before their due retirement a “tempting” package to facilitate their leaving the company, THISDAY learnt yesterday. It was gathered that as many as 500 employees may be affected…

The Federal Government has shut down the diving operations of Scorpion Oil Services onboard MV African Installer offshore Lagos for operating without the requisite approvals and violating the provisions of the Factories (Diving at Work) Regulations, 2018. The decision to close operations…

The Managing Director of the Port Harcourt Refining Company Limited, Ahmed Dikko, has assured that the rehabilitation of the Old Port Harcourt Refinery with a refining capacity of 60, 000 barrels per day would be completed and put to use by the…

The European Union (EU) will soon replace the gas from Russia with Nigeria’s gas following the invasion in Ukraine. The European Union (EU) Delegation to Nigeria and ECOWAS disclosed this yesterday. Deputy Director-General Department for (Energy), European Commission in Brussels, Mr Matthew Baldwin,…