Nigeria

Shale boom sets U.S up for global oil dominance

The U.S. will be a dominant force in global oil and gas markets for many years to come as the shale boom becomes the biggest supply surge in history, the International Energy Agency predicted.
 
By 2025, the growth in American oil production will equal that achieved by Saudi Arabia at the height of its expansion, and increases in natural gas will surpass those of the former Soviet Union, the agency said in its annual World Energy Outlook. The boom will turn the U.S., still among the biggest oil importers, into a net exporter of fossil fuels.
 

Savannah Petroleum targets Seven Energy acquisition

Savannah Petroleum is pleased to announce that it has entered into a lock up agreement with, Seven Energy, Seven Energy Finance Limited (SEFL), the Seven Group and certain of the creditors of the Seven Group. 
 
The Lock-up Agreement relates to the proposed acquisition by Savannah of certain of the Seven Group's assets and the associated proposed financial restructuring of the Seven Group. 
 

Investment: Emadeb unveils new retail outlet, commences lube production

Emadeb Energy Services Limited, a leading player in Nigeria’s downstream oil and gas sector has upped the ante of competitiveness in the petroleum retail business with the recent launch of its Flagship Mega Retail outlet, lube production line and completion of a 12 million-litre capacity storage tank for Aviation Turbine Kerosene (ATK) in Lagos.

Following its recent diversification along the entire downstream value chain, Emadeb Energy has once again taken the initiative to consolidate its strategic investments in state-of-the-art last mile assets.

Concerns as more countries shun Nigeria's crude

Thirteen countries may have shunned Nigeria’s crude oil as data obtained from the Nigerian National Petroleum Corporation (NNPC) show they have not purchased the product since 2016. 
 
According to the data, Crude Oil by Destination report of the NNPC, the last time Uruguay, Poland and Colombia purchased crude from Nigeria, was June 2016.  Cape Verde was said to have made its last purchase in November 2016 while Benin Republic, Togo and Tunisia made their last purchases in April 2016. 
 

Delta State wins NNPC National Quiz Competition

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has expressed the commitment of the Corporation to science education.
 
The NNPC GMD who stated this during the grand finale of the Corporation’s 2017 National Quiz Competition Tuesday in Abuja, said the Corporation’s stand was informed by the critical role of Science, Technology, Engineering and Mathematics (STEM) education in the quest for nation building.
 

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