OIL & GAS

The African Export-Import Bank on Wednesday, disclosed that it has become the largest financier of oil and gas projects in Africa. The bank disclosed investing $30bn in industry projects, with Nigeria receiving 60 per cent despite reduced global funding for hydrocarbon ventures in…

A newly released report by the Nigerian Bureau of Statistics (NBS) has said the price of the Liquefied Petroleum Gas (LPG) otherwise known as cooking gas increased by 12 per cent from N4,589 in one year. The report titled ‘Liquefied Petroleum Gas (Cooking…

The Shell Petroleum Development Company of Nigeria Ltd (SPDC) has deployed an Uncrewed Surface Vessel (USV) for a pipeline route survey in the Niger Delta. The USV innovation saves time and cost and reduces exposure to personnel and the environment. Last month, the remotely…

The Nigerian Upstream Petroleum Regulatory Commission is currently considering relocating some of its units to Lagos, according to a document seen by press. The memo dated February 14, 2024, said the decision was to enhance its service delivery, reduce operational costs, and make…

Shell Petroleum Development Company of Nigeria Limited says it has completed the supply of over 475,000 barrels of crude oil to the Port Harcourt Refining Company Limited (PHRC), through its Bonny Oil & Gas Terminal (BOGT). This, according to a statement signed by…

In a significant development for Nigeria’s oil and gas industry, Shell Petroleum Development Company Limited (SPDC) has delivered 475,000 barrels of crude oil to the Port Harcourt Refinery, marking a crucial step towards its imminent restart after years of inactivity. The Port Harcourt…

The Nigerian National Petroleum Company (NNPC) Limited have collaborated with the Central Bank of Nigeria (CBN) to set limits for the management of the oil firm’s revenue. The limit was set following a meeting between the CBN Governor, Olayemi Cardoso and the NNPCL…

The Nigerian National Petroleum Company (NNPC) Ltd has denied any imminent hike in the pump prices of Premium Motor Spirit (PMS), popularly known as petrol. Recently, some motorists have been experiencing difficulties buying petrol in filling stations amid fears that the authorities could…

TotalEnergies and its partners have announced the start of production from the Akpo West field on the Oil Mining License, OML2 license in Nigeria. In a statement; the company said the project would not only maintain production in its existing Akpo facilities but…

The Shell Petroleum Development Company of Nigeria Limited (SPDC) says it has taken a final decision with its joint venture partners to build a dedicated upstream facility to supply 100 million standard cubic feet of gas per day to Dangote Fertiliser and…