Oando terminates Brass LNG purchase agreement with ConocoPhillips

Oando Energy Resources (OER) has terminated the Brass LNG purchase agreement and has entered into an amendment agreement with ConocoPhillips, in relation to the proposed...

Nigeria’s oil exports decline at slower pace in second quarter

Oil exports in Nigeria, Africa’s largest crude producer, declined at a slower pace in the second quarter compared with the previous three months, the...

Shell reopens 150,000bpd vandalised pipeline

Royal Dutch Shell reopened its 150,000 barrel per day Trans Niger pipeline in Nigeria, which was shut for nearly two months, it was learnt...

JVCs, sale of oil blocks and production decline

The sale of interest on oil blocks by Joint Venture Companies (JVC) has impacted their crude oil production negatively. This is revealed by the...

Lekoil pays $3 million for OML 113 stake

Lekoil today announced it has made a payment of $3 million as part of the previously announced deal under which, Lekoil will buy of a...

Domestic carriers spend N32bn annually on aviation fuel

Domestic carriers spend about N32 billion annually on aviation fuel, known as Jet A1, with Arik Air spending about N1.9 billion monthly (N22.8 billion...

OANDO rolls out mega stations

The competition in the Oil and Gas Market has taken a new twist, as Oando Marketing, a subsidiary of Oando Plc and a major...

Inside the $9bn Dangote petroleum refinery

Aliko Dangote is a business juggernaut whose middle name is entrepreneur. He is never dissuaded from entering new businesses despite the general inclement operating...

The globe holds 1.4 trillion boe of undeveloped reserves – Wood Mackenzie

Around the globe there are nearly 1.4 trillion barrels of oil equivalent (boe) reserves in conventional undeveloped oil and gas fields according to Wood...

Federal Government inaugurates subsidy payment committee

The Federal Government has constituted a seven-member Pan-industry Committee to explore ways of resolving the lingering dispute between the Ministry of Finance and petroleum...

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