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NMLA constitutes committee to reform Nigeria Admiralty Law, Procedures

In a bid to boost industry confidence and enthrone dispute resolution efficiency for Admiralty law and practice in Nigeria, the Nigerian Maritime...

Nigeria: Oil price crash sparks investor exodus

…CBN to ensure orderly exits Nigeria's economy might be heading for a dramatic slump as the fallout from the...

“Pass directive to automate invoicing, payments at ports”, ANLCA urges FG

Following the hardship faced in clearing cargoes during the total lockdown ordered by the federal government to halt the spread of COVID-19,...

Maritime transport, logistics target N78 trillion revenue by 2023

Reports from global port and marine operations indicate that global maritime freight transportation revenue is expected to grow from $166 billion last...

April sees steep decline in worldwide offshore rig count

The worldwide offshore rig count in April 2020 dropped 28 rigs year-over-year and 19 rigs sequentially, according to rig count reports by...

NPA refutes claims of COVID-19 outbreak at Lagos Ports

The media was awash weekend with reports that a senior member of the Nigerian Ports Authority (NPA) had been diagnosed with COVID-19.

Banks in danger over oil firms’ debt status

The financial approach used by Nigeria’s oil companies against lower oil prices will affect their chances of making it through and negatively...

FG considers changes to Nigerian Content requirements in oil sector

What has happened? The Nigerian government has prepared new legislation – the Nigerian Content Development and Enforcement Bill (“Bill”)...

PMS Pump Price: Petroleum retailers seek intervention funds

Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) want the Federal Government to establish an intervention fund to cushion the effect...

OPEC’s daily basket oil price slumps to below $17 a barrel

The Organization of the Petroleum Exporting Countries (OPEC) said on Thursday its daily basket oil price fell to $16.87 a barrel on...

DSDP: Domestic utilisation gulped 8,621,658 barrels in November 2019

…no delivery to local refineries Over 8 million barrels of crude oil were processed in November 2019 for domestic...

OPEC March oil output rises after supply pact collapse

…Output drops in Libya, Venezuela…Saudi Arabia, UAE pump more OPEC oil output rose in March from the lowest in...
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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...