Negative trends in Nigeria’s oil and gas terrain

As it’s been reported, tough times await Nigeria’s oil and gas industry this year as many negative trends hit the sub-sector. One of the negative aspects is the presidential election in February 2015. The other is the non-passage of the PIB , while the third is the dwindling price of oil worldwide. Read More… ———————————— […]

This company wants to sell its Nigerian oil business

State-controlled oil company Petroleo Brasileiro SA (Petrobras) is leading an effort to sell Petrobras Oil and Gas BV (Petrobras Africa), after being joined in the sale by shareholders Grupo BTG Pactual SA and Helios Investments, it said on Thursday. Heavily indebted Petrobras announced plans this week to sell its 50 percent stake, and began sending […]

NNPC mobilize for oil exploration in Benue Trough

Following the flag-off of oil search on the Nasarawa  State end of the Benue Trough last week, the Nigerian National Petroleum Corporation (NNPC) has commenced a move to mobilize for oil exploration in the Benue State sector of the Benue Trough. The Group Managing Director of NNPC, Dr. Maikanti Kacalla Baru, who led a high-powered […]

Oil firms to invest $80bln in sub-sector

In brief: Oil and gas companies operating in Nigeria under the aegis of the Oil Producers Trade Section (OPTS) of the Lagos Chamber of Commerce and Industry (LCCI) have committed to invest over $80 billion in projects in the oil and gas sector in the next few years and have also urged the federal government to […]

PwC’s views on Africa’s oil and how to improve tech

The oil & gas industry in Africa continues to face market challenges arising from the low oil price, competition for revenue growth and local talent together with new expectations from investors and regulators. “Africa’s oil & gas industry is experiencing significant change and upheaval. There are fundamental shifts in companies’ strategies, business models and ways […]

Top 50 brands in Nigeria: MTN leads

Telecommunication provider, MTN has led the 2017 Top 50 Brands Nigeria for its innovation, Corporate Social Responsibility (CSR), online engagement, National spread, and Brand popularity. The brand is followed by Dangote Group, Coca-Cola, GTBank, among others in the ranking. The Chief Executive Officer of Top 50 Brands Nigeria, Taiwo Oluboyede, at the unveiling of this […]

The relationship between Hungover and Diarrhea

If your hangover mornings involve a lot of time sitting on the toilet, you’re not alone. In addition to making you puke your guts out, drinking too much can also give you massive diarrhea the next day. Why? Thrillist talked to a gastroenterologist about the hangover poops, and found that it’s a pretty common phenomenon, one caused by a combination of […]

Gas flare rate drop to 12% in Nigeria

The Gas flare rate in Nigeria stands at 12.00 per cent, the Nigerian National Petroleum Corporation (NNPC) Monthly Financial and Operations Report for August has revealed. The monthly report which was released today in Abuja said that the 12.00 per cent gas flare rate which translates to 919.73mmscfd was at August 2017 compared to 10.03 […]

2 white UK oil moguls captured for fraud in Nigeria

Two United Kingdom oil executives – Osman Shahenshah and Shahid Ullah – have been arraigned over fraudulent activities in Nigeria. Shahenshah and Ullah, former chief executive officer and chief operating officer of Afren, a London-listed oil and gas exploration business were slammed with criminal offences of over payments they received through secret companies in the […]

Schneider Electric gets new deal with Dangote Oil Refinery Ltd

Schneider Electric, the global specialist in energy management and automation, has signed a contract to provide comprehensive process automation systems, solutions and services to Dangote Oil Refinery Ltd., a subsidiary of African Business Conglomerate Dangote Group. Under the terms of the agreement, Schneider Electric will supply its EcoStruxure system architecture and platform, comprising its EcoStruxure […]

Oil exports to slow in October 2017 – Reuters

Nigeria’s crude oil exports are expected to slip to 1.72 million barrels per day (bpd) in October, loading programmes showed on Friday. While some cargoes would likely be added, the current plan stands at a five-month low, and was expected to remain slightly below September’s loadings of 1.88 million bpd. August’s exports had been on […]

China prepares to fund oil & gas sub-sector in Nigeria

Chinese banks have made commitments to bring in as much money needed to finance oil and gas investments in Nigeria, Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Maikanti Baru has said. Baru disclosed this when a delegation of the Nigerian Gas Association (NGA) led by its President, Engr. Dada Thomas, paid him […]

Oil price up amidst Nigeria’s instability

Oil prices rose slightly on Friday in volatile trading as the market weighed lower U.S. crude stocks, Nigerian instability and strong global demand growth against a persistently slow rebalancing. Brent crude settled up 20 cents or 0.39 percent to $52.10 a barrel. U.S. West Texas Intermediate crude was up 23 cents or 0.47 percent to […]

Vandalism may soon return to Nigeria

BMI Research has stated in its latest report that failure by the Federal Government to resolve the current simmering tensions in the Niger Delta may dramatically trigger increases in the chance of a return to vandalism aimed at oil and gas infrastructure, which could undermine Nigeria’s efforts to return its output to previous levels, Independent reports. According […]

Oil companies decry industrial action taken by unionists

Multinational oil companies and manufacturing firms have condemned the incessant disruption of oil and gas production through industrial actions embarked upon by unionists in Nigeria. Operators, who spoke exclusively with The Guardian, said Nigeria is losing so much in foreign exchange to consistent production disruptions by organised labour in the oil and gas sector. They […]

Consider oil sales assets, Saraki tells FG

THE Senate yesterday asked the federal government to stop the blame game and get the nation’s economy out of recession, saying Nigerians were hungry. It also urged the government to raise capital from asset sales to shore up the nation’s foreign reserves and promised to receive any proposal from the executive arm, including Emergency Power […]

France to invest 1billion Euros in Nigeria’s oil & gas

Calls Nigeria its best trading partner in Africa   The French government has said that it has set aside about one billion euros to be invested in the Nigeria Oil and Gas industry, stating that Nigeria remains her first economic trading partner in Africa. France Ambassador to Nigeria, His Excellency, Denys Gauer, declared this when […]

As oil price makes a comeback…

2Q’17 wasn’t supposed to go like this! Heading into the spring the broad consensus in the oil market was that aggressive global inventory draws would move WTI into the mid $50s and beyond. Unfortunately EIA data failed to deliver the bullish goods despite OPEC compliance near 100% due largely to output gains in the US, […]

NNPC shakes up N4tr investment in Nigeria’s oil sector

Takes over imports • Oil corporation explains position • Independent marketers abandon 198 depots, tank farms About N4 trillion downstream investments are being threatened, as over 198 private depots or tank farms across the country have remained idle since the Nigerian National Petroleum Corporation (NNPC) assumed the full importation of petroleum products. These depots do […]

Nestoil: showcases industry-defining expertise and innovative technologies

In March 2017, Nestoil and its sister companies exhibited technological innovations at the Nigeria Oil & Gas Conference & Exhibition (NOG)themed “A Journey Towards Transformation”. Nestoil Limited, the flagship company of the Obijackson Group – one of Sub-Saharan Africa’s fastest growing conglomerates, is participating in this year’s Nigerian Oil and Gas (NOG) Conference holding in […]