In a bid to effectively capture the over $18 billion worth of investment in Ubetta and Prowei projects (Total Energies), FDI on Bonga-North (SNEPCO), Agbami Gas Project (Stardeep), and Owowo (Esso) and other Nigeria’s upcoming upstream projects, the Nigerian Government…
Nigeria’s oil production increased by 6.73 million barrels to 36.7 million barrels in May 2023, leading to a cumulative revenue of about N1.27tn in the month under review. Data obtained on Friday from the latest Monthly Oil Market Report of…
The price of Brent Crude, Nigeria’s spot oil benchmark, has consistently maintained a decline below $75 per barrel for weeks, since Thursday, May 4, 2023, due to worries in the United States over possible debt defaults as well as the…
By Seun Ibiyemi The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) on Thursday in Abuja expressed concerns over Nigeria’s N77 trillion public debt. Addressing the 7th triennial national delegates’ conference of the association, its President, Mr Festus…
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has raised alarm over the high level of non-compliance to its regulations in the retail outlets of the energy sector. The Executive Director, Health, Safety, Environment and Community (HSE&C) of NMDPRA,…
An Oil and Gas Expert, Prof. Olanrewaju Aladeitan, has lauded the new oil and gas discoveries in Nigeria, which indicate that the country has huge gas reserves. The expert said Nigeria could be more described as a gas country than…
The investment in the global oil and gas upstream sector has increased by 39 per cent to $499billion in 2022, the highest level since 2014 and the most significant year-on-year gain in history. This was according to a new report by…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says five petroleum industry regulations have been gazetted while six others have been finalised and ready for gazetting. Mr Gbenga Komolafe, Commission Chief Executive, NUPRC, disclosed this on Monday in Abuja at the…
By Adenike Agunsoye The Lagos Chamber of Commerce and Industry (LCCI), in recognition of the potential impact of the 2022 Finance Bill on the operations of members operating in various sectors of the economy, has reviewed that recent statistics reveal…
By Ibiyemi Mathew For the first time in eight months, Nigeria’s oil production rose to 1.35 million bpd. Sources in a survey conducted by Reuters said many Nigerian crude streams produced more in December as a result of improved security.…
