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...

Customs generate N518.6m revenue in August – Comptroller

The Lagos Industrial Area Command of Nigeria Customs Service in Festac Town, on Friday said the command recorded N518.6 million revenue in August. Mrs Winifred...

Oyo-7 drilling begins – CAMAC

CAMAC Energy Inc. has been informed by Allied Energy PLC (“Allied”) that drilling operations at the Oyo-7 well commenced on September 9, 2013. The Company...

Nigeria ranks 4th in global oil supply outages

With more than 200,000 barrels per day (bpd) of crude oil being lost to pipeline vandalism, crude oil theft and spills, Nigeria ranks fourth...

Container Transfer, ships allocation blamed for Lagos Ports’ congestion

Persistent refusal by shipping companies to transfer their containers to off-dock facilities, and total control of allocation of ships by concessionaires, have been identified...

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