FG says terrorism stalls oil exploration in North

Group Managing Director, Nigerian National Petroleum Corporation, NNPC, Mr. Andrew Yakubu, yesterday, told the Senate Committee on Petroleum (Upstream) that the insurgency in the...

Global oil and gas drilling hits 30-year high – Baker Hughes

Drilling for oil and gas deposits outside North America has hit the highest level in three decades, led by big exploration and production programmes...

Nigeria produces over four million barrels of crude oil daily, activist claims

"As long as the oil companies continue to refuse to meter their oil wells, the nation would be in the dark on the actual...

Glencore interested in buying Shell assets in Nigeria

Commodity trader and miner Glencore confirmed on Tuesday its interest in buying oil assets that oil major Shell (LSE: RDSB.L - news) is selling...

Delay, funding may hamper marginal fields’ sale

Federal Government’s plan to sell 31 marginal fields to indigenous operators may be threatened by the delay in the takeoff of the process. This...

Oando Energy Resources extends completion date for acquisition of ConocoPhillips upstream assets

Oando Energy Resources Inc. (“Oando Energy Resources” or the “Company”) (TSX: OER), a company focused on oil and gas exploration and production in Nigeria,...

OPEC oil output rises In February – Survey

OPEC's oil output has risen further in February from December's 2-1/2-year low, due to more shipments from Iraq and Angola, and further upward creep...

Why foreign lenders hesitate to finance $20bn oil assets – Business Day Analyst

  With the value of assets to be put on offer during Nigeria’s next marginal oil field licensing round and those to be divested by...

Global oil drilling slowdown to last 12-18 months- Maersk

The current slowdown in offshore oil and gas drilling will last 12 to 18 months, and the market for rigs will rebound in 2015,...

OPEC exports to rise 7 1/2-year high – Oil Movements

The Organization of Petroleum Exporting Countries will boost crude exports to near their highest level since 2006 as refiners replenish stockpiles, Oil Movements said. OPEC,...

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