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Hope rises for Nigeria as oil passes $30 benchmark amid new cuts

Crude oil futures were higher Tuesday morning amid market expectations that demand destruction following the COVID-19 outbreak has found a floor, while...

DPR targets September to enforce MISTDO for downstream operations

The Department of Petroleum Resources (DPR) has scheduled enforcement of the Minimum Industry Safety Training for Downstream Operations (MISTDO) for September 1,...

Reduced freight rates lead to rise in W. Africa crude futures

Offer and sale prices for West African crude oil grades firmed further on Monday, despite continued poor global demand due to a...

Total deepens 2020 spending cuts

…Organic capex to be 25% below February forecast…Refinery utilization, product sales running at 50% below normal…Lowers oil, gas output forecast by 5%

“COVID-19 reveals deficiency in oil, gas training modules”- OGTAN

Companies handling training in the Nigerian Oil and Gas Industry have been advised to reposition themselves and redesign their training modules so...

Nigeria: Indigenous oil producers face bleak future over N3.4tr debt exposure

Many indigenous crude oil producers are on the brink of liquidation following the raging COVID-19 pandemic, an expert, Abiodun Adesanya has warned.

OPEC’s April oil output surges to 13-month high before new cut deal

…Saudi Arabia pumps at record rate…New cut takes effect on Friday OPEC oil output has jumped in April to...

Savannah Energy cashes in on Nigeria’s gas-to-power market

Savannah Energy has paid down $40 million of debt as of the end of March as a result of its Nigerian gas...

Shell cuts dividend to investors first time in 80 years

...Exxon posts first loss in decades Royal Dutch Shell with strong presence in Nigeria's petroleum industry upstream sub-sector through...

DPR issues guidelines on offshore, onshore ops

The Department of Petroleum Resources (DPR), has issued new guidelines to industry players on managing the spread of coronavirus in offshore and...

“Nigeria’s oil, gas exports to drop by $26.5bn” – IMF

Nigeria’s oil and gas exports are expected to decline by at least $26.5 billion as the novel coronavirus batters international prices and...

Nigeria, Angola cut oil export programmes to meet OPEC deal

African oil producers, Nigeria and Angola, have revised down their crude oil export programmes for May and June to align themselves with...
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Nigeria leads rebound as Chinese demand lifts West African crude values

The resurgence of Chinese buying interest has sustained a dramatic rise in values for Angolan, Chadian, Ghanaian and Congolese crude grades, while...

Nigeria’s Bonga oil export terminal shut for maintenance

Nigeria’s Bonga crude oil export terminal has begun routine maintenance, its operator Shell disclosed on Tuesday, adding it aimed to have the...

Covid-19: Downstream Petroleum Group to complete, equip Abuja Diagnostic Centre

Just when you thought Nigeria’s oil marketing companies were all about their profit margins and clamouring for total market deregulation, the industry’s...

Petrol price may rise as Brent stabilises around $35/barrel

Brent, the oil against which Nigeria’s crude is priced, has hovered around $35 per barrel for about one week, raising concerns of...