OPEC cuts lead to overflow of West African oil to Asia

West African oil producers this month will send the most crude to Asia in at least five years, the latest sign of how refineries...

FG agrees one-month ceasefire with Niger Delta militants

A petroleum ministry official said on Tuesday that Nigeria has agreed a one-month ceasefire with militants including the Niger Delta Avengers in the oil-producing...

PIB delay slows deepwater project development, increases cost

Nigeria risks paying escalated costs for deepwater projects in the oil and gas sector which have been lined up for development when the Petroleum...

Presidency holds back oil lifting contract approvals

Barely one month to the end of the year, the Federal  Government is yet to approve the winners of crude oil term contracts for...

Nigeria’s oil sector growth fell by 1.89% in Q1 – NBS

The real growth of Nigeria’s oil sector slowed by 1.89 per cent in first quarter of 2016, due to the reduction in the country’s...

NNPC says Kachikwu’s statement misinterpreted, fuel scarcity to end soon

The Nigerian National Petroleum Corporation, NNPC on yesterday assured that the Corporation is doing everything possible to end the noticeable fuel queues in most...

OPEC to increase oil shipments on winter demand

The Organization of Petroleum Exporting Countries (OPEC) will raise crude shipments through to early December as demand for heating fuel increases with the onset...

Philippines looks at possibility of oil imports from Nigeria

The Philippines is looking at the possibility of importing crude oil from Nigeria, the Department of Foreign Affairs said. This cropped after a meeting...

Bonga crude differentials sliding due to oversupply

The differentials for Nigerian crude grade Bonga are sliding due to the accumulated oversupply from the May and June program ahead of the release...

Mart Resources, Delta Oil terminate arrangement agreement

Mart Resources, Inc. (“Mart” or the “Company”) announces that, due to prevailing market and industry conditions, Mart and Delta Oil Nigeria B.V. (“Delta”) have...

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