More

14 ships arrive Lagos ports with petrol, others

Jan 14, 2019

The Nigerian Ports Authority (NPA), on Monday, said 14 ships had arrived at the Apapa and Tin-Can Island ports, Lagos, and were discharging petrol and other products. Three of the vessels are discharging petroleum products, while the other 15 ships are discharging buckwheat, frozen fish, bulk salt, containers, general cargo, diesel, bulk sugar and aviation…

Read More

DPR gives illegal outlets till March to regularise

Jan 14, 2019

The Department of Petroleum Resources (DPR) has granted owners of illegal filling stations and gas plants within Abuja and environs up to the first quarter of this year to regularise their outlets or face sanctions. The ultimatum was issued by the Zonal Operations Controller, DPR Abuja, Alhaji Misau Abba, during the 2018 Annual General Stakeholders…

Read More

Nigeria’s oil sector FDI drops by $17.12m in 3 months

Jan 12, 2019

Foreign Direct Investment in Nigeria’s oil sector dropped by $17.12m in the third quarter of 2018, the Nigerian Natural Resource Charter stated on Wednesday. According to the NNRC, foreign investments in the sector plunged from $24.85m in the second quarter of 2018 to $7.73m in the third quarter of the year. The $17.12m drop represents…

Read More

‘Over 2,000 sites polluted in Ogoniland, others’ – Environmental expert

Jan 11, 2019

According to the head, Environment and Conservation, at the Centre for Environment Human Rights and Development (CEHRD), Dr. Kabari Sam, there are more than 2,000 polluted sites in the Niger Delta, resulting in the loss of livelihood and basic needs in those areas, covering 12 per cent of Nigeria’s land mass and about 31 million…

Read More

Non-compliance to regulations hindering oil industry growth – NNPC GMD

Jan 10, 2019

Dr Maikanti Baru, the Group Managing Director, Nigerian National Petroleum Corporation (NNPC), says non-compliance to regulations by operators in the oil and gas sector hinders growth in the industry. Baru made this known at the 2018 annual stakeholders meeting of the Department of Petroleum Resources (DPR) in Abuja on Thursday. The meeting, with the theme…

Read More

Hopes raised for Nigeria’s 2019 budget as oil price hits $60

Jan 10, 2019

The oil price rebound, yesterday, reached a significant point, selling at $60 per barrel, as the Organisation of Petroleum Exporting Countries, OPEC, continue to withdraw excess oil from the international market. Prices of Brent, West Texas Intermediate, WTI, and OPEC Basket of 14 crudes stood at $60.00, $59.91 and $56.11 per barrel respectively. Further checks…

Read More

Delta youth protests against planned relocation of Nigeria Gas Company

Jan 10, 2019

For several hours yesterday, operational activities at the Nigeria Gas Company (NGC), a subsidiary of the Nigeria National Petroleum Corporation (NNPC), in Ekpan, Delta State, were paralyzed as angry youths protested against alleged relocation of the company. The protesters, comprising Ijaw, Itsekiri, Urhobo, Isoko and Ndokwa youths barricaded the entrance to the firm, vowing to…

Read More

Oil price extends gains to $59 on potential US/China trade talks

Jan 9, 2019

Oil prices rose on Wednesday, further extending gains from the previous session on hopes that Washington and Beijing can resolve a trade dispute that has triggered a global economic slowdown. U.S. West Texas Intermediate (WTI) crude oil futures were at $50.29 per barrel up 51 cents, or 1 per cent from their last settlement. It…

Read More

Rivers Governor defiant over terminated assets sale to Sahara Energy

Jan 9, 2019

River State Governor, Nyesom Ezenwo Wike, Thursday declared that no amount of blackmail and propaganda would alter the termination of the sale of valued state assets to Sahara Energy Limited. Wike said: “No amount of blackmail will change the situation. The courts are there for them to seek redress. “Rivers and Lagos States are not…

Read More

Eroton refinances its RBL debt with GTB

Jan 9, 2019

The Nigerian independent Eroton Exploration and Production Company Limited has successfully refinanced the facility it took from Guarantee Trust Bank to purchase the 45% of Oil Mining Lease (OML) 18 in the eastern Niger Delta. Eroton produces around 40,000BOPD from that asset, which it took over as operator in September 2015. The state hydrocarbon company…

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...