Oil fell above one dollar on Wednesday due to the economic growth in China, the world’s second-largest crude user. There were slightly missed expectations, raising concerns about future demand, while U.S. dollar strength dented investor’s risk appetite. Brent crude futures…
The Organisation of the Petroleum Exporting Countries is seeking more investment in oil despite global push for renewable energy sources. OPEC said oil remains indispensable in the renewable energy transition, projecting in its recent 2023 World Oil Outlook that the…
It is no news that the male dominated oil and gas sector is not for the lily-livered. It takes guts, skills and capacity to even attempt an entry. However, Dame Winifred Akpani, has not just just made an attempt but…
The House of Representatives Committee on Petroleum Resources Upstream has promised to ensure stability in the oil sector to create opportunity for all Nigerians. The Chairman of the committee, Rep. Ado Doguwa (APC-Kano State) made this known at the inauguration…
The Nigerian National Petroleum Company Ltd. (NNPC Ltd) has identified 4,800 illegal connections on 5,000 kilometres of oil pipelines nationwide. The Group Chief Executive Officer of NNPC Ltd, Mele Kyari, revealed this during a presentation before the Senate Committee on…
Leading executives of Oil and Gas companies are set to showcase their various contributions to Nigeria’s local content at the 12th Practical Nigerian Content (PNC) Forum in Yenagoa beginning today. The PNC is hosted by the Nigerian Content Development and…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has constituted a committee to address issues bordering inactive crude oil blocks and reverse the trend. Dr Kelechi Ofoegbu, Executive Commissioner, Economic Regulation and Strategic Planning, NUPRC, made this known at its Consultation…
Brent crude dipped on Wednesday ahead of a meeting of the OPEC+ ministerial council, as the market weighed expectations for tighter supply against concerns that high-interest rates could dampen fuel demand. Crude futures fell 18 cents, or 0.2 percent, to…
The Nigerian Extractive Industries Transparency Initiative says the Federal government rakes in N4.3tn from the oil and gas in 2021. According to NEITI’s ‘Oil and Gas Industry Report for 2021, this represents about 40 per cent of the total revenue…
Nigeria’s crude oil earnings rose to over N1.68trillion in June 2023 following an increase in the country’s output last month, an analysis of latest oil production figures released by the Federal Government showed. Data obtained from the June 2023 crude…
