Buyers will be expected to pay more for oil or seek alternative supplies if the EU decides to impose import tariffs on Russia’s oil, Kremlin Spokesman Dmitry Peskov said on Wednesday. “Buyers of oil will have to pay more or…
The Technical Adviser, Gas Business and Policy Implementation to the Minister of State for Petroleum Resources, Mr Justice Derefaka has stressed the need for training and retraining of oil and gas professionals in the country. Derefaka said this is the…
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) said it would ensure that issues of casualisation in the oil and gas industry are reduced to the barest minimum. PENGASSAN’s President, Mr Festus Osifo, made this known at…
Germany will face a steep recession if there is a stop to imports or delivery of Russian gas and oil, a top German bank lobby warned on Monday. Europe’s largest economy is heavily dependent upon Russia for energy, and nations’…
Africa Oil has disclosed receiving a dividend from Prime Oil and Gas Cooperatief UA from its 50% shareholding in Prime. Prime has distributed a $200 million dividend with a net payment to Africa Oil of $100 million related to its shareholding. Since acquiring its…
Nigeria’s crude oil grade, Bonny Light is trading at $116.1 per barrel the second most expensive in the international crude oil market. Nigeria’s crude oil price is only trading below Saudi’s Saharan Blend oil which is at $118.50pbd. Figures showed…
The Federal Government has directed the Nigeria Export Processing Zones Authority (NEPZA) and the Oil and Gas Free Zones Authority to fully digitalise their operations before the end of the year. Otunba Niyi Adebayo, Minister, Industry, Trade and Investment, who…
The Organisation of Petroleum Exporting Countries (OPEC) says the oil and gas industry must leverage world’s most cutting-edge technologies and advanced innovations to promote a lower carbon future. This, according to the body, is necessary in terms of reducing emissions.…
Nigeria and other petroleum producing countries in Africa have begun engagements with Developmental Finance Institutions (DFIs) to fund critical oil and gas projects in the continent. The Minister of State for Petroleum Resources, Chief Timipre Sylva, made this known while…
The Nigeria Extractive Industries Transparency Initiative (NEITI), said oil and gas companies liabilities to the Federation Accounts as at Dec. 31, 2020 was N1.32 trillion. Dr. Orji Ogbonnaya Orji, the Executive Secretary, NEITI made this known on Monday in Abuja…
