Oil demand for the rest this year may continue to fall by as much as 3.7 million barrels per day (Mb/d), Outlook released by global research body, Rystad Energy, backed the projections with the second wave of Coronavirus pandemic, saying the development would stall demand.

Like Rystad Energy, the Organization…

Management of Shell Petroleum Development Company of Nigeria (SPDC) has confirmed that, owing to oil theft and sabotage, the company recorded 17 oil spill incidents in the month of June 2020.

The company said between June 1st and June 30th 2020, it experienced leaks in Abia and Rivers States amounting…

A Federal High Court sitting in Lagos has said that the Department of Petroleum Resources (DPR) can go on auctioning 10 marginal fields whose licenses have been revoked. The court had rejected an interlocutory injunction application filed by the operators of affected marginal oil fields which intended to restrain Federal Government from auctioning…

A Nigerian natural gas supply company, Green Liquified Natural Gas (GLNG), has won a grant from the U.S. Trade and Development Agency (USTDA) to support Nigeria’s increased utilization of natural gas for power generation, local industry and additional economic growth.

The project is intended to support the diversification of Nigeria’s…

A human rights group, representing erstwhile managers of four oil wells in Nigeria has signaled to enter into legal battle with the Nigerian government as the country engages battle gear to auction the oil wells hitherto in the hands of politicians and past leaders of the country.

The group, Human…

...Puts total Debt at $69, not $81.48

The Presidency has come out with explanations on the reason why Nigeria entered into bilateral agreements to exports electricity to Niger, Benin, and Togo while blackout persists in Nigeria.

The Senior Special Assistant to the President on Media and…

Nigeria’s state oil firm NNPC has signed a $1.5 billion prepayment deal led by Standard Chartered (STAN.L) and backed by oil traders Vitol Group and Matrix Energy, two sources close to the matter said, the first such agreement since the coronavirus pandemic, Reuter reports.

The deal provides OPEC-member Nigeria with…

In about six month’s time, a new modular refinery with the production capacity of 20,000 barrels per day for a start will be unveiled in Delta State, Onose Deep Oil and Gas Nigeria has assured.

Also, a plant where all the parts needed for the smooth operation of the modular…

Concerned over the influx of foreign vessels on Nigeria’s waterways, the Senate joint committees on local content, downstream petroleum and legislative compliance have invited the Minister of State for Petroleum Resources, Chief, Timipre Sylva and the Minister of Transportation, Rotimi Amaechi to provide explanation on the worrisome trend.

Also, invited…

Oil prices slid down yesterday as the Covid19 pandemic and tensions arising from the US and China feud pushed investors towards what investors described as safe-haven assets.

The slide in oil prices mirrored moves in broader financial markets in Asia amid concerns about escalating tensions between the world’s two biggest…