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Increased piracy threatens West Africa’s offshore oil storage

…Troops nab oil bunkering syndicate…Uncover 48 illegal refineries in Niger-Delta states As international oil companies (IOCs) grapple with a...

UKC-West Africa clean freight nearly triples in a week

Freight rates from the UK continent to West Africa on Medium Range (MR) tankers have almost tripled since last week, as competition...

Local firms owe 90% oil industry debt to banks

Nigeria’s independents that produce about 400,000 barrels per day out of the about two million barrels daily national output account for almost...

Eni: SEC closes Nigeria, Congo inquiries without further action

The United States Securities and Exchange Commission has closed its investigation into Eni over the Italian oil major's activity in Nigeria and...

Savannah Petroleum changes name to Savannah Energy PLC

Savannah Petroleum PLC, the British independent energy company focused around activities in Nigeria and Niger, has announced that it is changing its...

Nigeria ramps up crude oil output despite sharp fall in global demand

…Production at 2.3 million b/d: NNPC's Kyari…Ready to make 'sacrifices' and join new oil supply pact…Export terminals in operation but cargo glut...

Nigeria ends fuel subsidy, braces for output cuts

…As Petroleum Minister calls for sacrifices Nigeria will make the necessary sacrifices needed to stabilise the global crude oil...

Oil price slump exposes Nigerian banks to severe risk

Nigerian banks' credit profiles face severe risks from the oil price slump and operating environment disruption due to the coronavirus pandemic, Fitch...

Covid-19: DPR issues staff reduction notice to Oil Companies

Nigeria’s Department of Petroleum Resources ordered oil and gas companies on Thursday to reduce their workforce and practice social distancing, tightening measures...

Nigeria braces as oil prices sink below $20

As countries of the world continue to battle the spread of coronavirus, oil prices crashed below $20 amid a supply glut on...

Nigeria risks 85% drop in oil revenue

Nigeria and other developing countries that rely heavily on oil revenue are set to witness a decline as their income from oil and gas...

“PMS landing cost drops as oil prices recede”- PPPRA

The sharp drop in the price of crude oil appears to have temporarily halted the federal government's expenditure on petrol subsidy, records...
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FG to roll out auto-gas scheme for cars in December

President Muhammadu Buhari will on December 1 roll out the auto-gas scheme in Abuja as the Federal Government moves to create alternative...

Oil prices down 1% as OPEC+ debates 2021 output policy

Oil fell about 1 per cent on Monday on uncertainty about whether OPEC+ would agree to extend its deep output cuts at...

NIMASA launches e-Library to bridge industry knowledge gap

As Nigeria moves towards greater role for maritime in the national economy, Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA),...

JV oil assets suffer as NNPC slashes funding

The nation’s oil and gas assets being developed through joint ventures between the Nigerian National Petroleum Corporation and private firms are suffering...