By Michael Eboh The Minister of Petroleum, Industry and Mineral Resources of the Kingdom of Saudi Arabia, Khalid Al-Falih, Wednesday, held talks with the Federal Government of Nigeria as parts of the effort to bring about a stabilization in the crude oil price and in
Oil prices slumped Friday to lows not seen since last year as concerns over high crude supplies triggered massive selling, dealers said. The WTI futures contract, the New York commodities markets’ benchmark, and its European counterpart Brent Crude both fell more than six percent on
Nigeria’s rig count — a standard yardstick used in measuring a nation’s activeness in exploration and production of crude oil and gas — for the month of October 2018 increased to 34 from 33 recorded in the previous month, data from the Organisation of Petroleum
Over 90 percent of Nigerian homes do not have Liquefied Petroleum Gas (LPG) cylinders, thus exposing them to health hazards characterizing the use of dirty cooking fuels like kerosene, wood, among others. Out of the 30 million homes in Nigeria, only three million LPG (cooking
It would also raise its condensate output by 0.5 million bpd during the period. The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, yesterday told Reuters that the country currently produces 1.6 million bpd of oil and 0.4 million bpd
State-run oil firm Nigerian National Petroleum Corporation (NNPC) said it sold crude oil and gas to the international market and earned $470million in August this year. This is an upsurge of about $78million in relation to July oil and gas export figures of $391.91million. NNPC
Tough economic and external conditions have placed pressure on oil & gas companies to be more cost-effective and efficient. Companies have adapted to a low-cost environment, which promises to be even more beneficial given the current recovering oil price. These are some of the highlights
The programme of the event obtained by Vanguard indicated that the nation’s investment opportunities will be examined by the Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachukwu. It indicated that the Group Chief Executive Officer, Oando Group, Mr. Wale Tinubu, former President Olusegun
The Nigerian National Petroleum Corporation (NNPC) has stated that it could sign crude-for-product deals with Shell and ExxonMobil, similar to one signed with BP recently. This is coming as the news of the waivers granted by the United States to eight countries to buy Iranian
To contribute to the growth of the oil and gas industry through research, the Chairman, Institute of Oil and Gas Research and Hydrocarbon Studies (IOGRHS), Akin Akindoyeni, has said N250 million can commence research in some areas of the industry such as environmental studies. Akindoyeni,