oil and gas news

The downward slide of crude price may hamper current economic prospects in the country, particularly if the development refuses to abate, oil and gas analysts have said.The prices of oil had fallen on Friday with Brent oil inventory for January delivery, sliding 6.1 percent to $58.80 per barrel...

There are serious concerns among Nigeria’s organised private sector (OPS), that the country … Read more via Leadership Newspaper – https://ift.tt/2OofjQK Get more: Nigeria Business News

Foreign investors in Nigeria’s oil and gas sector have decried the high charges in Nigeria’s oil and gas free zones, saying the development would discourage efforts to attract investments and grow the country’s oil and gas reserves and production capacity. Read more via Vanguard News –...

Former Minister of Education, Dr. Oby Ezekwesili, has denounced discretionary allocation of oil blocks in the country, saying it gives rise to massive corruption in the sector. She said proper policies need to be put in place in the oil and gas sector to avoid political sentiments … Read...

Workers of Addax Petroleum Development Nigeria Limited under the umbrella of Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, commenced indefinite strike on Monday over alleged impunity by the management of the company. According to reports, the striking workers locked...

The Ibrahim Badamasi Babangida University, Lapai, Niger, says it has begun another round of oil and gas exploration research in the Bida and Sokoto Basins. This was disclosed at a two-day workshop with the title “Bida and Sokoto Basins Hydrocarbon Exploration Research”, organised by the...

Nigeria could be benefiting from the unfortunate events in America as Hurricane Harvey disrupts schedule maintenance of some of the US largest refinery. Read full report on Bloomberg

The Nigerian National Petroleum Corporation (NNPC) yesterday disclosed that the federal government would soon open bids to concession 30 marginal oil fields in the country. The corporation stated this in a statement from its Group General Manager, Public Affairs, Mr. Ndu Ughamadu in Abuja The...

Minister of State for Petroleum Resources, Dr Ibe Kachikwu on Wednesday said that Nigeria's oil reserves will will dry up in 30years. Kachikwu made the remark while representing President Muihammadu Buhari at the 5th triennial delegates conference of the Petroleum & Natural Gas Senior Staff...

Fuel depots across the country have been shut down as Nigeria Union of Petroleum and Natural Gas Workers started a three-day warning strike. The strike is to protest against anti-Labour practices in the oil and gas sector. An official of the union, however, told PUNCH that the leaders of...

Oil edged above $50 a barrel on Thursday as a further drop in U.S. crude inventories countered investor doubts that OPEC will be able to implement a production cut. Crude inventories posted an unexpected drop of 553,000 barrels last week, and stocks of gasoline and distillates fell more than...

The Nigerian National Petroleum Corporation (NNPC) On Tuesday disclosed that a new window had been opened for petroleum product marketers to access forex to enable them import fuel. The group general manager, Group Public Affairs Division of the NNPC, Mr Muhammad Garba-Deen said this while...

Royal Dutch Shell over the weekend, confirmed plans to sell over 16 assets each worth more than $500 million. Though the report had no mention of what location or country which its assets is up for sale, but explained that the move is part of its vast $30 billion three-year asset sales...