Upstream

Oranto Petroleum signs MoU, prepares to enter Niger Republic

Nov 1, 2018

The Ministry of Petroleum of Niger to Grant Blocks R5, R6, Dibella and Dallol to Oranto; The blocks are located in the Agadem Rift Basin; Oranto Petroleum to receive technical data. Nigeria-based Oranto Petroleum (atlas-Oranto.com) has signed a Memorandum of Understanding with the Ministry Petroleum of the Republic of Niger, outlining its intention to sign…

Read More

OPEC has become indispensable ‘organ of stability’ in oil market – Barkindo

Nov 1, 2018

OPEC has become an indispensable ‘organ of stability’ in the oil market, Mohammad Sanusi Barkindo, OPEC Secretary General said at the Algeria Future Energy Summit in Algiers, Algeria. He noted that though some sceptics have imagined a diminished global role for the organization, OPEC has instead demonstrated permanence and longevity. “It has been transformed. In…

Read More

IOCs, indigenous oil producers shut 101 oilfields – DPR

Nov 1, 2018

International oil companies operating in the country and other producers left a total of 101 oilfields idle as of December 2017 as a result of operational issues and sabotage, among others, the Department of Petroleum Resources has said. The total number of fields (producing and shut in) stood at 285 for 44 oil-producing companies as…

Read More

OPEC sees output peak in October

Nov 1, 2018

The Organisation of Petroleum Exporting Countries (OPEC) got record output last month, a Reuters survey found, as higher supplies led by the United Arab Emirates and Libya offset a cut in Iranian shipments due to United States sanctions. The 15-member cartel pumped 33.31 million barrels daily in the month under review, up by 390,000 barrels…

Read More

Baru charges petroleum explorationists to find more oil in Nigeria

Nov 1, 2018

The Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikati Baru, has charged members of the Nigerian Association of Petroleum Explorationists (NAPE) to deploy their wealth of knowledge and experience to find more crude oil to meet the 40million barrels reserves target. Dr. Baru gave this charge yesterday when the leadership…

Read More

Vitol led consortium acquires Nigerian deepwater producing assets from Petrobras

Nov 1, 2018

A consortium led by Vitol and comprising Africa Oil (25%), Delonex (25%) and Vitol (50%), has entered into a Share Purchase Agreement (‘SPA’) to acquire a 50% ownership interest in Petrobras Oil and Gas B.V. for $1.407 billion. BTG Pactual E&P B.V. will continue to own the remaining 50% of POGBV. The transaction is subject…

Read More

India is important to OPEC – Barkindo

Oct 31, 2018

The Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Mohammad Sanusi Barkindo, has said India is an extremely important partner for the OPEC and the organization was determined to continue strengthening the relationship. Barkindo said this at the third high-level meeting of the OPEC-India Energy Dialogue held in New Delhi, India. India has…

Read More

Russia, UAE to partner NNPC for oil, gas development

Oct 31, 2018

The Russian Federation and the United Arab Emirates have expressed their readiness to expand their scope of partnership with the Nigerian National Petroleum Corporation (NNPC) in the upstream, midstream, downstream and services sectors to further boost their various economies. Speaking after a working visit to the Group Managing Director of the NNPC, Dr. Maikanti Baru,…

Read More

Axxela CEO tasks stakeholders on Nigeria’s gas sector growth

Oct 30, 2018

The Chief Executive Officer of Axxela Limited, Bolaji Osunsanya has tasked stakeholders in the nation’s gas sector to find lasting solutions to the challenges besetting the industry. He gave the challenge Axxela’s in his keynote address titled “Actualising Gas Infrastructure Development; Untangling the Bottlenecks”, delivered at the recent Nigerian Gas Association conference and exhibition in…

Read More

Nigeria expects OPEC to hold firm on $70 oil price – Kachikwu

Oct 30, 2018

The Organisation of Petroleum Exporting Countries (OPEC) and its allies are likely to keep oil-production policy steady when they meet in December as current prices near $70 a barrel suit all members, the Minister of State for Petroleum, Dr. Emmanuel Kachikwu, has said. “I’d be surprised to see anything dramatic” when the coalition gathers, Kachikwu…

Read More

SUBSCRIBE TO LATEST ENERGY NEWS

Read the latest energy industry news and researched articles
for oil and gas, power generation, renewable energy, events and more...