OIL & GAS

The Organisation of Petroleum Exporting Countries (OPEC) will in August decide whether to continue its current measured oil supply to the global market or set a new quota for its members as the ration agreed upon last year expires. This was just as…

Shell Petroleum Development Company of Nigeria (SPDC) Ltd., said yesterday that it will not go ahead with its divestment plan until the case brought against it by one Isaac Torchi and 87 members of the Ejalawa community, Rivers state is decided by…

The perennial petrol queues in and around Abuja may further deteriorate from this week as members of the Independent Petroleum Marketers of Nigeria (IPMAN) in the Suleja axis yesterday withdrew their services. In a communiqué read by the Secretary of IPMAN, Suleja and…

The only way to tackle the rising price of diesel and cooking gas in Nigeria is to increase the production of crude oil in the country. Group managing director of the Nigeria Nation Petroleum Company (NNPC) Ltd Mele Kyari said this when he…

Federal Government on Tuesday said the Petroleum Prospecting License (PPL) issuance ceremony for the 2020 Marginal Field Bid Round award process saw 57 fields offered. Chief Timiprye Sylva, the Minister of State for Petroleum Resources, stated this at the Petroleum Prospecting License (PPL)…

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disclosed that the 2020 Marginal Field bid round has earned the Federal Government about N200 billion and $7million revenue. Its Chief Executive Officer (CEO) Engr. Gbenga Komolafe made this known at the official unveiling…

The inability of the Nigerian National Petroleum Company Limited (NNPC) to carry out its statutory obligations to the federation continued for the fifth month in May, with the firm now recording a N704 billion deficit for the year thus far. In its latest…

The National Oil Spills Detection and Response Agency (NOSDRA) has confirmed a leak at oil mining lease (OML) 18, operated by Eroton Exploration and Production Limited. OML 18 is a large oil bloc located towards the south of Port Harcourt, Rivers state, and…

After a long wait, the federal government, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), yesterday said that it was set to issue Petroleum Prospecting Licences (PPL) to successful awardees of marginal fields in the 2020 bid round. The commission noted that…

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said it will partner with stakeholders in the industry to purchase advanced seismic data to explore the type and quantity of hydrocarbon available in Enugu area. The Chief Executive Officer of the Commission, Engr.…