Tuesday, March 28, 2017
Petroleum Industry Bill

US Crude Inventories Data Secures Gain for Oil Prices

Oil prices recorded 1.8 per cent gains on Wednesday on the strength of expectations that U.S. crude inventories have dropped. Industry group the American Petroleum Institute reported preliminary data that showed inventories fell by 7.4...
Shell

Ophir Energy Finds Oil for Shell in Tanzania

Ophir Energy has announced the safe and timely conclusion of the drilling of two exploration wells in offshore Tanzania. The operator of these blocks, Shell, has confirmed the discovery of good quality reservoir in both...
gas

Peace in Niger Delta Boosts Nigeria’s Gas Reserves

The recent relative peace in the Niger Delta has translated into a boost for Nigeria's gas reserves as the Nigerian National Petroleum Corporation (NNPC) has promised to continue to sustain viable solutions to the...
HFC Bank

HFC Bank To Invest In Ghana’s Oil and Gas

Robert Le Hunt, the Managing Director of HFC Bank, has mentioned that the bank will make substantial investment in Ghana’s oil and gas industry in 2017. He says the industry is capable of empowering efforts...
Oil

Nigeria: State-Oil Firm, NNPC, Loses N418.97bn in 21 Months – Report

The Nigerian Extractive Industries Transparency Initiative, NEITI, has stated that  group operations of the Nigerian National Petroleum Corporation, NNPC, recorded a cumulative loss of N411.1 billion in 21 months between January 2015 and September...

Ghana: PIAC Seeks $9.5 million to Improve Data Repository

The Public Interest and Accountability Committee (PIAC) has launched a comprehensive  information repository plan which requires about $ 9.5 million for the successful implementation of a five-year strategic arrangement. “This strategic plan, the institution’s first, has been...
Oil

Nigeria’s State Oil Corporation Ends JV with IOCs

Nigeria’s state owned oil corporation, The Nigerian National Petroleum Company (NNPC) has signed an agreement to end Joint Venture Cash Call (JVC) arrangement with some International Oil Companies (IOCs) in which the NNPC held...

Nigeria Earns N4.6trn from Crude Oil Export, Spends N1.02trn on Fuel Import

Nigeria's crude oil export over a nine-month period, from January to September 2016, stood at N4.558 trillion, according to data obtained from the National Bureau of Statistics, NBS. The NBS, in its Foreign Trade Statistics...
Petroleum Industry Bill

Five African Countries Ban Europe’s ‘Dirty’ Fuel Imports

Nigeria, Benin, Togo, Ghana and Cote d'Ivoire have collectively agreed to introduce strict standards to ensure cleaner, low sulphur diesel fuels and vehicles emissions standards to cut off the market for Europe’s dirty fuel...
IEA

OPEC Production Cut: Why Nigeria Two others got Concession

Organisation of Petroleum Exporting Countries (OPEC) on Wednesday finally agreed to peg production of individual countries after eight long years of going back and forth while watching prices slide. However three countries will be exempted...