Oil & Gas

13 countries shun Nigeria’s crude

Thirteen countries may have shunned Nigeria’s crude oil as data obtained from the Nigerian National Petroleum Corporation, NNPC, shows they have not purchased the product since 2016.


Nigeria’s oil sales suffer, US exports rise

More than two dozen Nigerian crude oil cargoes were left unsold on Monday amid a supply glut of light sweet crude in the market.


OML 34 workers demand Buhari’s intervention in engagement status

OIL Mining Lease 34 Host Staff Welfare Forum has appealed to President Muhammadu Buhari to prevail on the management of Nigeria Petroleum Development Company, NPDC/ND Western Nigeria Limited to engage its members as permanent staff of the company.


Oil market rebalancing very fast – OPEC boss

There are indications that the crude oil market is rebalancing at an accelerating pace and stability is fast returning, the Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Mohammad Sanusi Barkindo has said.



Portugal, others buy Nigerian crude oil first time

Nigerian crude cargoes found their way to Portugal for the first time this year, crude export destination data released by the Nigerian National Petroleum Corporation (NNPC) showed.



Local content board lists 2017 achievements

The Nigerian Content Development and Monitoring Board (NCDMB) accomplished all the targets set for 2017, the Executive Secretary, Engr. Simbi Wabote has said.



Stakeholders task government on budget implementation

Stakeholders in the Nigeria’s oil sector have emphased the need for the Federal Government to ensure full implementation of the 2018 budget.



Oil Falls for Third Day over Rising US Shale Output

Crude oil prices dropped for a third day from close to two-year high yesterday as rising United States output hampers efforts by the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC to cut output and rebalance the oil market.



FG Justifies Oil Exploration in North, to Reinvest Proceeds from JV Assets

Despite its campaign for economic diversification, increasing global shift towards alternative and cleaner energy sources, and futile attempts in the past discovering oil in commercial quantities in Northern Nigeria, the federal government Tuesday justified the continuing search for oil in the Northern part of the country.



FG needs to do more on oil prospecting in inland basins – Nwosu

Mr Chikezie Nwosu is the chairman of Society of Petroleum Engineers (SPE), Nigeria Council as well as the Deputy Managing Director (Technical) at Addax Petroleum. In this interview, he speaks on the nation’s economy and the benefits of exploring for oil in the North among others.



NPDC worst debtor in oil and gas – DPR

The Department of Petroleum Resources (DPR) yesterday said the National Petroleum Development Company (NPDC), a subsidiary of the Nigeria National Petroleum Corporation (NNPC), is the worst debtor in the oil and gas sector.



DPR indicts CBN, NPDC in alleged N6tr revenue leakages

The Department of Petroleum Resources (DPR) has indicted the Central Bank of Nigeria (CBN) for determining the rate at which royalties paid in dollars are converted to naira before remitting into the Federation Account.



SON intensifies checks for substandard LPG products with new equipment

The Standards Organisation of Nigeria (SON), through an Ad-hoc committee made up of its top officials and other experts in the Oil and Gas sector, has intensified its sanitisation operations in the nation’s Liquefied Petroleum Gas (LPG) industry.



Hope rises for local content as ExxonMobil, NCDMB provide $975m, N61.18bn

There are indications that local content would be enhanced in Nigeria’s oil and gas industry as ExxonMobil and the Nigerian Content Development and Monitoring Board (NCDMB) have provided $975 million and N61.18 billion respectively to support indigenous operators.


Reps to probe oil firms for violating Local Content Act

THE House of Representatives yesterday resolved to probe the contracting of vessels by foreign oil and gas companies operating in Nigeria.


OML 34 workers demand Buhari’s intervention in engagement status

OIL Mining Lease 34 Host Staff Welfare Forum has appealed to President Muhammadu Buhari to prevail on the management of Nigeria Petroleum Development Company, NPDC/ND Western Nigeria Limited to engage its members as permanent staff of the company.


Other news

Government’s debts profile hits N20tr in Q3

The nation’s debt profile has again increased by about N740 billion to N20.37 trillion, nearly three times the national budget for 2017.



JAMB fixes dates for 2018 examination

The Joint Admissions and Matriculation Board said on Wednesday morning that the Unified Tertiary Matriculation Examination in 2018 would hold on March 9 to March 17, 2018.



2018 budget: FG targets N311bn from asset sale, privatisation

The Federal Government is aiming to generate of N311bn from privatisation of public properties and the sale of national assets next year to partly finance the 2018 budget.



ILO urges stronger global collaboration to eradicate child labour by 2025

The International Labour Organisation (ILO) has called for stronger global collaboration among stakeholders to ensure total eradication of child labour by 2025.


Senate approves $5.5bn FG to finance 2017 budget, refinance foreign debts

THE Senate has approved an External loan of $5.5 billion to enable the Federal government finance the 2017 budget and refinance the foreign debts.


Budget funding, our biggest problem – Udoma

Funding is the greatest challenge the current administration is facing in implementing budgets, the Minister of Budget and National Planning Sen. Udoma Udo Udoma has said.



Again, Airport Workers Kick against Concession

Despite the determination of the federal government to concession Nigeria’s major airports as a way to find alternative source of funding for them, workers of the Federal Airports Authority of Nigeria (FAAN), industry unions yesterday kicked against the process of the planned concession of four airports.



Ambode Urges Employers to Prioritise Workers’ Welfare

Lagos State Governor, Akinwunmi Ambode, has emphasised the need for both the public and private sector employers to accord priority to the welfare of their employees in order to win their loyalty and gain their optimal performance.



New Blood Pressure Guidelines Lower Hypertension Threshold to 130/80

New guidelines have lowered the threshold for high blood pressure, adding 30 million Americans to those who have the condition, which now plagues nearly half of U.S. adults, a new report published by Yahoo News has shown.



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