Lagos, Chinese firms sign offshore development pact

The Federal Government has brokered a major partnership between the Lagos Deep Offshore Logistics services provider and the Chinese Offshore Oil Engineering Company Limited...

NIMASA steps up capacity building

Nigeria’s apex maritime regulatory authority, the Nigerian Maritime Administration and Safety Agency (NIMASA), has stepped up capacity building to ensure that Nigeria meet its...

Energia Ebendo field hits 5,700 barrels per day

An indigenous exploration and production company, Energia has achieved a milestone daily production of 5,700 barrels of oil per day in her Ebendo field...

PEF blacklists 12 marketers for alleged fraudulent practice

The Petroleum Equalisation Fund (Management) Board (PEF) said that it has blacklisted 12 petroleum marketers for seeking underserved bridging payments through fraudulent means. The PEF...

Conoil targets 65% fuel retailing, revenue growth

An indigenous petroleum product marketing company, Conoil, has said it hopes to grow sales and revenue by over 65 per cent with its seven...

Terminal operators, agents trade blames over operating cost

  Terminal operators under the aegis of Seaport Terminal Operators Association of Nigeria (STOAN) and freight forwarders in the country are at war over who is...

Pipeline closure: Shell lost N14.5bn in six days

Shell Petroleum Development Company Joint Venture has lost $90m (N14.6bn) in six days following the closure of Trans Niger Pipeline. The Manager, Corporate Media Relations,...

Brent slips below $108

Brent crude oil slipped below $108 a barrel on Wednesday as the dollar gained ahead of eagerly awaited word from chairman Ben Bernanke on...

52% of Nigerians still buy petrol above N97/litre – NOI Poll

Despite the huge subsidy and petroleum equalisation paid by the Federal Government to enable Nigerians buy petrol at regulated price of N97/litre, the reality...

Addax inks extension for FPSO with BW Offshore

BW Offshore has agreed an extension for FPSO Sendje Berge with Addax Petroleum Exploration Ltd until the end of Q1 2014. The extension has been...

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