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Price discounts, market share battle stall sale of Nigerian crude

…More than 50 million barrels remain unsold…Nigerian crude values will have to fall sharply to compete with rivals…NNPC looking to lower production...

Enhanced Capacity: Nigeria leads Africa’s refining revolution

...Faces stiff competition from West African neighbours The resuscitation of Nigeria's under-performing refineries is a Key Performance Indicator...

Exxon, Shell seek enforcement of arbitration award against NNPC

Oil majors including Exxon Mobil Corp. and Royal Dutch Shell Plc are facing uphill battles to convince U.S. courts to enforce multi-billion...

Oil cargoes pile up as Nigeria struggles to find buyers

…Chinese, European buyers proving reticent to purchase cargoes …Coronavirus has dented Chinese demand; European margins weak As oil traders...

Shell to develop Pressure Reduction, Metering Station at Polaku

…Project to create 30,000 jobs in 2 years Shell Nigeria Gas (SNG) has secured one hectare of...

Yinson FPSO sets sail for operations offshore Nigeria

Yinson's FPSO Abigail-Joseph, has set sail from Singapore to the Anyala & Madu fields in Block OML 83 & 85, offshore Nigeria,...

DPR launches minimum industry safety training for downstream operations

…To commence enforcement Q3 2020…Protocols to be developed in 3 major Nigerian languages The Department of Petroleum Resources (DPR)...

NNPC rolls-out high performance engine oils

Following the unveiling of its range of lubricants late last year, the NNPC Retail Ltd, one of the Downstream subsidiaries of the...

CORONAVIRUS: Oil price drops below Nigeria’s 2020 budget benchmark

Nigeria’s budget estimate appears threatened as oil price drops $5 below the 2020 benchmark on global fears over the impact of the...

DPR extends bid for gas flare commercialisation

A few days after the Department of Petroleum Resources (DPR), announced that over 200 bidders were competing for the available 45 gas...

NAGAFF inaugurates compliance team to check port corruption

The office of the Vice President, Western Zone, National Association of Government Approved Freight Forwarders (NAGAFF) has inaugurated a compliance team in...

NIMASA reaffirms Dec. 2020 to end Single-Hull tanker operations

Five years after the revised schedule for phasing out single hull oil tankers and a regulation banning the carriage of heavy grade oil in...
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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...

Worldwide offshore rig count drops in March year-over-year

The worldwide offshore rig count in March 2020 has dropped four rigs sequentially and year-over-year, according to rig count reports by Baker...

OPEC+ producers debate possible oil cuts of 10 mln bpd

The OPEC+ crude oil exporter group is debating cutting global supply by 10 million barrels per day (bpd), an OPEC source said...

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...