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Energy
FG decries 400,000 barrels daily theft Nigeria’s crude oil
THE Federal Government has decried the daily theft of about 400,000 barrels of Nigeria’s crude oil.The Speaker of the House of Representatives, Femi Gbajabiamila, lamented exposure of Nigeria’s oil infrastructure to oil thieves, as he…
How ready is Nigeria to handle possible crash in global oil demand in 2020
Last week, the International Energy Agency (IEA) predicted that global oil demand may crash by 730,000 barrels per day in 2020 from 99.1 million barrels per day before the outbreak of coronavirus with its attendant effects on global trade.…
‘How poor pricing, infrastructure deficit worsen Nigeria’s CNG investment’
inappropriate pricing, paucity of infrastructure and non-existence of a regulating agency are partly responsible for investment deficit rocking the Nigeria’s Compressed Natural Gas (CNG) industry.Managing Director, NIPCO Gas Limited, Mr…
NCDMB, Shell Gas facility deal to create 30,000 jobs in two years
The Nigerian Content Development and Monitoring Board (NCDMB) on Wednesday signed an agreement with Shell Nigeria Gas (SNG) for the lease of one hectare of NCDMB’s land at Polaku, Bayelsa State, for the development of a Pressure Reduction…
MOMAN warns members against adulteration, illegal refining
Major Oil Marketers Association of Nigeria (MOMAN) has warned its members against fuel adulteration and illegal refining.Speaking with journalists in Lagos, the Executive Secretary, MOMAN, Mr Clement Isong, said the association will in…
Championing new strategy for renewable energy towards achieving ‘Global Goal 7’ target
The Sustainable Development Goals (SDGs), also known as the global goals were adopted by all United Nations member states in 2015 as a universal call to action to end poverty, protect the planet and ensure that all people enjoy peace and…
Liberalising downstream oil sector will save Nigeria a lot —MOMAN
Nigeria is one of the few crude oil producing countries that rely on importation of refined petroleum products for its domestic consumption. Stakeholders in Nigeria’s downstream industry have been calling for full deregulation of the…
Towards actualising Nigeria’s Gas Year agenda
Last week, stakeholders in the oil and gas industry converged on the Nigerian International Petroleum Summit (NIPS 2020) in Abuja to discuss how best to achieve the Federal Government’s agenda of making 2020 a year of gas. OLATUNDE…
IMF predicts global oil demand will peak around 2040
Global oil demand will peak around 2040 or much sooner, the International Monetary Fund (IMF) said in a new report on the future of oil.The IMF said that this could have a significant impact on oil-exporting countries, predominantly…
Total records $3.2bn profit
Oil major, Total, recorded net adjusted fourth-quarter profit steady at $3.2 billion despite low oil prices and fulfilled a pledge to boost dividends.“This performance is better than that of our rivals in terms of resisting low oil…