NNPC, oil majors urged to bury pipelines deeper to check oil theft

The Nigerian National Petroleum Corporation (NNPC) and multinational oil companies operating in Nigeria’s oil and gas industry have been urged to bury the pipelines...

Eland cuts forecasts after delays in bringing Nigerian oil field on stream

Eland Oil & Gas, the Aberdeen-based firm active in Nigeria, has cut production forecast for 2013 after delays in its campaign to bring an...

FG commits N70.2bn euro bond to gas infrastructure

The Federal Government has announced the allocation of N70.2bn ($450m) for the improvement of gas infrastructure across the country. This, it said, was aimed at...

OPEC to trim exports by 190,000 bpd

The Organisation of Petroleum Exporting Countries, OPEC, will reduce crude shipments this month while refiners in the United States and Europe conduct seasonal maintenance, tanker-tracker,...

Japan may look to Nigeria for LNG spot cargoes

Faced with an imminent energy crisis, Japan may look to Nigeria for spot cargoes of liquefied natural gas, LNG, as its South Korean counterpart...

Negative oil activities have caused N160 trillion environmental devastation in Niger Delta – Kuku

The Federal Government, yesterday, said it will cost about N160 trillion ($1 trillion) to restore the environment in the Niger Delta, following the devastation...

Okonjo-Iweala decries N232bn fraudulent subsidy claims

The Minister of Finance, Dr. Ngozi Okonjo-Iweala, has decried the N232bn ($1.5bn) overpayments made to “fraudulent” oil marketers. Okonjo-Iweala, who is also the Coordinating Minister...

Port concessionaire acquires more equipment to enhance operations

One of the concessionaires in the nation’s seaports, Ports and Cargo Limited, has acquired more equipment to enhance its operations. The firm, which is one...

Nigeria loses N24bn annually to vessel delay – Report

The cost of doing business at the nation’s ports remains high despite the reduction in the number of security agencies operating there from 14...

Oando provides updates on its Nigerian upstream activities

Oando Energy Resources (OER) submitted its operational highlights out of Nigeria on August 14. During Q2 the company saw 2,500 bpd, 1,069 net to...

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