Russia says Gazprom has begun using gas stockpiles to stabilise market

Gazprom
Russian energy giant Gazprom started using its inventories to pump more natural gas into the pipeline network to stabilise surging prices, a...

More trouble for Nigerian states as oil prices climb to $82.77

Nigerian states including local governments might face financial difficulties in the coming months as the rise in oil prices means a...

Oil Production slows down as crude prices soar, experts lament

Experts in the Nigerian oil and gas industry have urged the Federal Government to improve the investment climate to attract the needed...

Nigeria lost N221.64bn in July to oil production stoppages – NNPC

A total of 7,193,520 barrels of crude oil was lost in July this year due to about 39 production shut-in incidents, latest...

FG’s Estimate Measures Fuel Subsidy Cost At N1.8trn

There are indications that federal government’s revenue may be facing increasing pressures as oil revenue continues to falter, dropping about -26% Year-on-Year,...

Nigeria Struggles To Meet OPEC Quota As Organization Scale Up Production

Monthly Oil
Nigeria and Angola will now have to struggle to boost output to meet their OPEC quota levels until at least next year,...

NNPC’s finances to be affected for 43 years.

NNPC's finances
“Of course, NNPC cannot make any profit under such a situation. Presumably, that such a situation is not happening now or not allowed to be the case is a big credit to President Buhari and the leadership of NNPC....

Oil Price: NNPC Projects Oil Price Rise By $10 A Barrel

Oil Price - Mele Kyari, The Group Managing Director, GMD, of the Nigerian National Petroleum Corporation, NNPC, has projected that the supply...

NNPC: Damilola praises NNPC’s financial transparency

NNPC - Professor Damilola Olawuyi, an energy law expert and Deputy Vice Chancellor of Afe Babalola University, Ado Ekiti (ABUAD), has commended...

NLNG exonerates self from cooking gas price hike

cooking gas
The Nigeria LNG Limited, NLNG on Tuesday said it was not responsible for the continuous price hike of Liquefied Natural Gas, LNG...

Experts Commend Buhari For Proposed PIA Amendment

OPAC Refinery Commences Production Of Kerosene, Diesel Etc
Experts and key stakeholders in the oil and gas industry have said that the proposal by President, Muhammadu Buhari seeking understanding of the...

Natural gas crisis may create oil market turbulence

OPEC
As the global natural gas crunch hits suppliers and consumers alike, OPEC nations are warning of the knock-on impact for oil markets.

U.S. hurricane damage to cut Shell oil output through year-end

shell
Shell was the hardest-hit producer from Ida, which tore through the U.S. Gulf of Mexico last month and removed 27 million barrels overall from the market. About 40% of Shell’s production from the offshore region remains offline, and the slow restart has hampered export activity in general.

Lekoil Nigeria’s CEO sues Lekoil Cayman

CAYMAN
Lekoil Nigeria’s CEO, Lekan Akinyanmi, through his attorney, Proskauer Rose LLP, has finally sued Lekoil Cayman for unlawful and hostile takeover of...

DPR targets N3.2 trillion revenue by December 2021

DPR OUTLINES 4 CARDINAL FOCUS FOR DOWNSTREAM OPERATIONS
DPR targets N3.2 trillion. The DPR will  hit N3.2 trillion revenue target by December 2021. Says Sarki Auwalu - Director/ CEO of...

Oil sector to balance as Norway votes

The leader of Norway's Labour Party Jonas Gahr Store, a 61-year-old millionaire who has campaigned against social inequality, seems well placed to succeed her, but the exact shape of the coalition needed to pave his way to office is still unclear.

OGA Awards Carbon Storage License

“The OGA is very pleased to award this license for a project that should make a significant contribution towards the net zero target,” Andy Samuel, the OGA chief executive, said in an organization statement.

OPEC+ Agrees to Continue Gradual Supply Hikes

OPEC+ Agrees to Continue Supply Hikes
U.S. oil production is still recovering from Hurricane Ida, which has knocked out a total of almost 35 million barrels after slamming the Gulf of Mexico a month ago -- equivalent to almost two full months of OPEC+ supply increases.

TCN Upgrade Won’t Lead To Blackout In Lagos- IE

”The upgrade will affect customers within Alausa; Oregun; Anifowoshe; Ojodu; Magodo; Omole Phase 1; Oba Akran; Oke-Ira, and also parts of Ikeja GRA,” he said.

FG Expects To Raise $219 Million From Power Assets Sale

The federal government of Nigeria expects to realise up to  $219 million (about N90bn) from the sale of some of its electricity...
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