OIL & GAS

The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NURPC), Mr. Gbenga Komolafe yesterday confirmed that the Nigerian National Petroleum Company Limited (NNPC) has retrieved the Oil Mining Licences (OMLs) 123, 124, 126 and 137, that previously was held under…

The General Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC) Mele Kyari at the weekend, said with the implementation of the Petroleum Industry Act (PIA) the Company would emerge the most Capitalised in the entire Africa. Also, he said gas a result…

The Nigeria LNG Limited announced on Thursday that its board of directors had approved the supply of 100 per cent of the Liquefied Petroleum Gas (butane and propane) produced by the company to the Nigerian market. The NLNG said in a statement that…

TotalEnergies EP Nigeria Limited has announced the appointment of Mr Frederick Asasa as chief financial officer and member of the company’s corporate executive committee with effect from January 1, 2022. He succeeds Mrs Tai Oshisanya, who will retire from the company at the…

Oil prices jumped more than 3 per cent yesterday, consistently defying predictions of a surplus supply amid doubts about the ability of the Organisation of Petroleum Exporting Countries (OPEC’s) to respond to an increase in demand. West Texas International (WTI) was trading…

The Federal Government on Thursday said it was putting measures in place to ensure further reduction in the cost of Liquefied Petroleum Gas, popularly called cooking gas. It disclosed this while reacting to the recent marginal drop in the cost of cooking gas. According…

Royal Dutch Shell has placed more of its onshore oil assets in Nigeria for sale with at least five Nigerian oil and gas companies preparing to submit their respective bids for the acquisition of the assets this month. The deal was estimated to…

The Organisation of the Petroleum Exporting Countries (OPEC) has voted to appoint Kuwaiti candidate Haitham Al-Ghais as its new secretary-general. In a statement, the oil cartel said Al-Ghais was selected at a special meeting of the Conference of OPEC held via videoconference on…

The management of TotalEnergies Upstream Nigeria Limited has said it will build hygiene and sanitary projects in universities across the six geo-political zones of the country. The Managing Director, TotalEnergies Companies in Nigeria, Mr. Mike Sangster, said this during the inauguration and handover…

Savannah Energy PLC has announced that it has signed a Share Purchase Agreement (“SPA”) with Exxon Mobil Corporation, ExxonMobil International Holdings, Inc. and Esso Exploration Holdings, Inc. (“Exxon”) and has separately signed an SPA with PETRONAS (E&P) Overseas Ventures SDN. BHD. (“PETRONAS…