Venezuela’s oil and gas sector was already caught in a vicious cycle well before the COVID-19 outbreak created a world economic crisis. Even though there are several international companies still remaining in the country, they are not investing in any relevant manner and have minimum personnel.

GlobalData

...Says Committee will Push for a More Inclusive Energy Industry

The African Energy Chamber has appointed its highest-level advisory committee to serve on local content matters and support capacity building across the continent. Local Content Committee members are part of the Chamber’s Advisory Board and serve in their personal…

Nigeria has dispatched over 16 vessels carrying about 950,000 metric tons of liquefied natural gas (LNG) valued at N354billion in the last few months to various destinations. The country is also the fourth largest producer of LNG in the world.

The gradual lifting of the lockdown measures by countries is…

The Group Managing Director of the Nigeria National Petroleum Corporation, NNPC, Mele Kyari will on Tuesday appear before the House of Representatives Committee on Public Petition over the sack of some of its workers, including casualisation of others for many years.

The NNPC boss was summoned on July 13 after…

The Federal Government is set to dispose off some of the non-core assets belonging to the defunct Power Holding Company of Nigeria (PHCN) in three phases.

The Managing Director of the Nigerian Electricity Liability Management Company (NELMCO), Mr Adebayo Fagbemi, disclosed this during an oversight function to the Abuja Electricity…

The Akwa-Ibom State government has applauded Star Deepwater Petroleum Limited (a Chevron company and operator of the Agbami unit) and its parties in the Agbami field for the donation of a  science laboratory complex to Senior Science College, Ndon Eyo, Onna Local Government Area of the State.

Star Deepwater Petroleum…

The Nigerian National Petroleum Corporation (NNPC) has said the corporation may not achieve a swift relocation of tank farms from their current locations along Ijegun, Kirikiri areas in Lagos and other parts of the country until full rehabilitation of the refineries and the completion of the Dangote refinery. This is to avoid dislocation…

Nigeria Liquefied Natural Gas (NLNG) has denied reports it illegally withdrew $1.05billion from Nigerian National Petroleum Corporation’s dividend account.

It also denied that its Managing Director/CEO Tony Attah and the GMD, NNPC, Mele Kyari are signatories to an account and have been moving and “squandering” monies belonging to the company…

FBN Analysts have said that the near time outlook for the petroleum industry was subdued considering the comparatively low fuel demand in the first half of 2020.
In the note last Friday, the analysts at merchant Bank and Asset Manager, FBN Quest, titled ‘Downstream Oil and Gas at a Crossroads and Due for…

The COVID-19 pandemic is said to have affected the drilling market both in terms of wells drilled and in terms of related demand for drilling equipment. The number of drilled wells globally is expected to reach around 55,350 this year, the lowest since at least the beginning of the century.