25 C
Lagos, South Africa and New York
Wednesday, July 8, 2020
Home Oil & Energy

Oil & Energy

Discover latest news and analysis, headlines, blogs and videos about Nigeria’s Niger Delta Regions, Nigeria’s Oil wells and locations, Nigeria’s Key Oil companies and local refinery news and updatss

Senate investigates NNPC over $141m in private account

ABUJA—THE Senate yesterday resolved to investigate the Nigeria National Petroleum Corporation, NNPC, to know how Brass Liquefied Natural Gas, LNG, account worth $141 million allegedly ended in a private account domiciled with Keystone Bank. NNPC The decision of the Senate was sequel to a...

NNPC to commercialize communication network, to partner Communication Ministry on ICT

The Nigerian National Petroleum Corporation (NNPC) will commercialise some of its critical Information Communications & Technology (ICT) infrastructure in line with its bid to re-focus the Corporation as a commercially viable entity. The Group Managing Director of the Corporation, Dr. Maikanti Baru, made this known...

NNPC denies involvement in $1.1Bn oil block signature Bonus, royalties

31 January 2017, Naija247news, Abuja – The Nigerian National Petroleum Corporation (NNPC) has clarified that it is not involved in the collection of signature bonuses (funds) paid by oil companies to the Federal Government upon their successful bid for oil blocks. The House of Representatives...

Nigeria unlikely to cut fuel sulphur level anytime soon – Rainoil

BRUSSELS, Sept 22 (Reuters) - Nigeria’s efforts to cut sulphur levels in its fuel imports are unlikely to succeed this year, the head of a major Nigerian downstream company told the Platts refining conference in Brussels. The government has delayed its target to slash allowed...

Funds managing $670 billion react to Norway oil “revolution”

HELSINKI and STOCKHOLM (Bloomberg) -- Asset management in the Nordic region is dominated by Norway’s $1 trillion sovereign wealth fund, which last week said it wants to exit all its oil and gas stocks. Bloomberg spoke with institutional investing heads in Sweden, Norway, Denmark and...

OPEC cuts make global crude supply lighter and sweeter: Kemp

LONDON, March 17 (Reuters) - OPEC’s production cuts have changed the quality of the global oil supply, shaking up the relationship between important crude benchmarks and altering purchasing calculations for refiners. Most oil from shale formations in the United States as well as from the...

London Private Equity Firm Eyes $250 Million in African Energy Projects

London-based fund to invest $250 million across Africa Denham has developed and sold 6.5 gigawatts of power projects Denham Capital Management LP, a London-based private equity firm, plans to channel at least $250 million into energy projects in Africa. The company has established a partnership with Neo...

Egbin Power eyes 1,320MW by April 2018

03 March 2018, Lagos — Egbin Power Plc has said its target by April 2018, is to achieve generation of 1,320 megawatts. The chairman of the company, Kola Adesina who made the statement, hinted that despite the challenges in the sector, Egbin Power in...

Oil edges further above $55 on Russia, OPEC cuts

By Alex Lawler LONDON (Reuters) - Oil edged further above $55 a barrel on Wednesday supported by signs that Russia and OPEC producers are delivering on promised supply reductions, although a report showing a large rise in U.S. crude inventories limited gains. Russia has cut production...

Nigeria oil tanker drivers strike over pay

ONITSHA, Nigeria, April 3  - Nigerian oil tanker drivers launched a strike on Monday over low wages and poor roads which will threaten to choke off supply until the workers' requests are met. The oil tanker drivers from Nigeria Union of Petroleum and Natural Gas...
Open chat
Send us your story