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Trade Minister inaugurates oil, gas forum committee

Sep 15, 2013

Minister of State for Industry, Trade and Investment , Dr Samuel Ortom has inaugurated the technical committee for the 2013 oil and gas trade and investment forum billed for October at the Onne Oil and Gas Free Trade Zone. The minister disclosed that the Federal Government is committed to the principles of the free trade…

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$10bn investments opportunities exist in oil, gas sector yearly – GM Brass LNG

Sep 15, 2013

Over $10 billion worth of investments opportunities exist for young professionals in the midstream Nigeria’s oil and gas sector, the General Manager, Public Affairs, Brass Liquefied Natural Gas, BLNG, Lawrence Cobham, has said. Speaking during the first Oil and Gas Retreat in Lagos with the theme: ‘Opportunities for Indigenous Youth Entrepreneur in the Oil Sector,’…

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Midwestern Oil condemns attack on its facilities in Delta

Sep 13, 2013

The management of Midwestern Oil and Gas has condemned the attack on its facilities earlier in the month by armed youths in the host community of Umusadege Commnity in Ndokwa West Local Government Area of Delta State. In a statement signed by the company secretary, Mr Chris Omoru, the company lamented the inhuman treatment meted…

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OPEC daily basket price stood at $109.40/b on Wednesday 11th September 2013

Sep 12, 2013

The price of OPEC basket of twelve crudes stood at 109.40 dollars a barrel on Wednesday, compared with $109.26 the previous day, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra…

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Oil price: Brent steady after two-day fall

Sep 12, 2013

Brent crude futures held steady above $111 per barrel on Wednesday, after falling more than four per cent  in the past two days as fears eased of an imminent strike against Syria, www.upstreamonline reported. The United States President Barack Obama vowed on Tuesday to explore an initiative from Russia to neutralise Syria’s chemical weapons, but…

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OPEC daily basket price stood at $109.26/b on Tuesday 10th September 2013

Sep 11, 2013

The price of OPEC basket of twelve crudes stood at 109.26 dollars a barrel on Tuesday, compared with $111.39 the previous day, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra…

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IPMAN optimistic on expatriate quota implementation

Sep 11, 2013

The Federal Government’s directive on expatriate quota set for the oil and gas industry has been described as a veritable move that deserves strict implementation, to enhance technology transfer and employment opportunities for Nigerians. The Independent Petroleum Marketers Association of Nigeria (IPMAN), after its National Executive Committee (NEC) in Lagos recently, asserted that the Nigerian…

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Nigeria losing N1.5bn daily to oil theft – Jonathan

Sep 11, 2013

The Federal Government on Tuesday said the country was currently losing between 60,000 and 80,000 barrels daily to crude oil theft. President Goodluck Jonathan gave the figure in Abuja while speaking at this year’s Annual Banking and Finance Conference. The conference with theme, ‘Upholding professionalism in the financial services industry: Supporting the economy,’ was organised…

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MEND extends hand to Nigerian government

Sep 10, 2013

The Movement for the Emancipation of the Niger Delta said it was ready to thwart oil sabotage in the region if the government listens to its position. MEND in April said it was launching a new campaign this year. The group wants Niger Delta communities to have more influence in the regional oil sector. It…

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