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Energy
Nigeria loses over N50bn annually to non-reflective gas pricing
There are indications that Nigeria may be losing over N50 billion annually to lack of adequate gas pricing regime. Nigeria’s proven gas reserve as of January 1, 2020, is put at 203.16 trillion cubic feet (tcf), according to the…
COVID-19: Stakeholders urge FG on measures to safeguard economy
Stakeholders in the Nigerian oil and gas sector have called on the federal government to engage in proactive measures to save its economy from shock as the world battles the negative effect of the COVID19 and dwindling oil prices.This…
OPEC May output lowest in two decades
The Organisation of Petroleum Exporting Countries (OPEC) oil output hit the lowest in two decades in May as Saudi Arabia and other members started to deliver a record supply cut.According to Reuters’ survey, Nigeria and Iraq are…
Energy industry investment to plunge by $400bn —IEA
The International Energy Agency (IEA) has raised fears that the energy industry is set to suffer a record drop in investment due to the COVID-19 fallout.The IEA noted that renewables are likely to fare better than oil and that any swift…
Full deregulation panacea for private sector investment —Marketers
Since the Federal Government announced in April the end of fuel subsidy, stakeholders have been looking for policy statement that will provide legal backing to the pronouncement. However, the Petroleum Products Price Regulatory Agency…
COVID-19: Oando employees raise over N25m to feed Nigerians
The employees of Oando Plc have contributed over N25million under The Aggregator Platform (TAP) initiative, to feed needier Nigerians as global pandemic continues unabated with millions of Nigerians living without food and basic needs of…
NLNG EPC contracts: PETAN lauds Minister, NCDMB, NNPC, contracting firms
The Petroleum Technology Association of Nigeria (PETAN) has commended the signing of the the engineering, procurement, and construction (EPC) contract for Train 7 with the SCD Joint Venture Consortium with Saipem, Chiyoda, and Daewoo by the…
NCDMB’s BrentPlus initiative to drive innovations in oil and gas sector
The Nigerian Content Development and Monitoring Board (NCDMB) has launched BrentPlus, a series of initiatives that will stimulate innovations in the oil and gas industry and ancillary sectors to create a platform for local creation of…
Why we must remain optimistic despite COVID-19 challenges —Irune
Industry operators have been urged to remain optimistic during the global pandemic as oil price volatility reigns unabated in the global crude market.Speaking during an interview on CNN’s First Move with Julia Chatterley, the Chief…
ExxonMobil donates ambulances, medical supplies to support Nigeria’s COVID-19 response
Mobil Producing Nigeria, an ExxonMobil affiliate, and operator of the Nigeria National Petroleum Corporation/Mobil Producing Nigeria Joint Venture NNPC/MPN JV, is donating two ambulances, 20 additional vehicles and medical supplies to…