Industry leaders have drawn recovery plans to unlock Africa’s lubricant market potentials at the South-Africa International Lubricants Conference. In a bid to increase awareness of the lubricants market while connecting manufacturers with key stakeholders, the International Lubricants Conference (ILC) provided…
The Federal Government has come up with a new Domestic Base Price (DBP) framework which will be applied to gas sector with the desire to crash the increasing rates being witnessed on daily basis. The Federal Government is working to…
Chevron Corp. has boosted its planned share buyback to as much as $5 billion per year, as the firm uses higher commodities prices to step up returns to investors rather than investing in production growth. The repurchases are now seen at $3 billion to $5 billion…
Uncertainty about immediate containment of the Omicron variant of the coronavirus has compelled Morgan Stanley to slash its Brent price forecast for the first quarter of 2022 to $82.50 a barrel from $95 per barrel expected earlier. Oil prices dropped by more than 11…
TotalEnergies Nigeria, Shell Companies in Nigeria, Chevron Nigeria Ltd., and ENI Companies in Nigeria have pledged to support the development of Nigeria’s gas resources. The International Oil Companies (IOCs) made the pledge on Tuesday during a panel session at the…
The Managing Director, Shell Petroleum Development Company (SPDC), Mr Osagie Okunbor, on Tuesday said that local content in the Nigerian oil and gas sector has grown tremendously in the past decade. Okunbor made the assessment while giving an oil and…
Mr Gbenga Komolafe, Chief Executive Officer, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has called for the development of strategies for sustainability of Nigerian content policies in the oil and gas sector. Komolafe spoke on Tuesday at the ongoing 10th Practical…
The Group Managing Director of the Nigerian National Petroleum Company (NNPC) Limited, Mallam Mele Kolo Kyari has told a delegation of the Independent Petroleum Producers Group (IPPG) that the industry is at a critical phase with the ongoing reforms and…
By Uthman Salami The World Bank has disclosed that Nigeria is losing overv$4.5 billion Naira as payment for subsidy to those who engage in smuggling the product the product. The World Health Organization (WHO) revealed this in November 2021 edition of…
By Bassey Williams, Yenagoa The Bayelsa State Governor, His Excellency Senator Douye Diri has urged the mulit- nationals in oil and gas industry to relocate their headquarters to Niger Delta States where they are having their operational activities. Governor Diri…
