Results For: oil and gas

Africa Oil buys 25.2% equity interest in Impact Oil and Gas

Canadian oil and gas company Africa Oil Corp has completed the previously announced investment in Impact Oil and Gas Limited, a private UK company with exploration assets in South and West Africa. In connection with the Investment, the Company issued 13,946,545 common shares in the capital of the Company to Helios Natural Resources 2 Limited […]

Business & Economy

Renewable energy versus oil and gas – The lessons

We are heading in the direction of a low carbon future – the way the world thinks about renewable energy has undergone a remarkable change. It is no longer just an idea backed by government subsidies anymore but rather it is now mainstream electricity, competing on par with fossil fuel power generation on costs around […]

Business & Economy

NNPC posted a total crude oil and gas export sale of $239.10M in November, 2017

The Nigerian National Petroleum Corporation, NNPC posted a total crude oil and gas export sale of $239.10Million in the month of November, 2017. Details of the transactions contained in the recently released November 2017 edition of the Monthly NNPC Operations and Financial Report also indicated that the figure is 25.68 percent lower than the previous […]

Business & Economy

Jason Wangler’s forecast for oil and gas in 2015

Jason Wangler in a recent interview forecast oil production price in 2015 for about $70/bbl. He thinks that the oil price will soon start to correct itself, though he couldn’t say how soon or how quick the process will be. He expects that oil price will soon get back to what is considered economically viable […]

Features & Reports

Top tips for those looking for oil and gas jobs in Nigeria

Would you like to get a job in the oil and gas sub-sector in Nigeria? Many young graduates dream and hope to get a job working in various capacities in an oil and gas company. If you’re also thinking about that, and you’re living in Nigeria, here are a few things you should know: Latest […]

Features & Reports

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… ———————————— […]

Features & Reports

Egypt achieves 800 oil & gas discoveries in 15 years

Egypt’s Petroleum Ministry achieved around 800 new oil and gas discoveries starting fiscal year (FY) 2001/02 and until 2015/16. During this period, the ministry achieved 520 crude oil discoveries, according to figures from state statistics agency CAPMAS. Fiscal years 2011/12 and 2012/13 saw the largest crude oil discoveries, with an average of 57 discoveries each […]

Business & Economy

NNPC reduces cost of producing crude oil per barrel to $20

The Nigerian National Petroleum Corporation (NNPC) has brought down the cost of producing a barrel of crude oil to $20, even as it now targets producing the black gold at $15 per barrel. NNPC Group Managing Director, Dr. Maikanti Baru, who disclosed this Monday in Abuja during the NNPC Day at the ongoing Technology and […]

Business & Economy

NNPC records $476.25m in sales of crude gas export

The Nigerian National Petroleum Corporation (NNPC) recorded total export receipts of $476.25m in December, 2017, from sale of crude oil and gas as against $201.11m in November, 2017. This is contained in the monthly NNPC Financial and Operations Report for December, 2017, which was released today. According to the report, while receipts from crude oil […]

Business & Economy

Oil industry players concerned about electric cars

ELECTRIC CARS & BIG DATA Global oil industry players are also concerned about threats from renewable energy technologies and rapid changes to the automobile industry. Majors including BP Plc have forecast that gasoline use will decline as electric vehicle usage grows. General Motors Co Chief Executive Officer Mary Barra, in her first visit to the […]

Automotive

Oil industry’s biggest names gather this week at CERAWeek

The oil industry’s biggest names gather this week at CERAWeek, the largest energy industry get-together in the Americas, at a time when U.S. shale production is booming, global demand is rising and crude prices are at a sweet spot for both big U.S. producers and OPEC. Last year’s decision by the Organization of the Petroleum […]

Business & Economy

Corruption in oil sub-sector must stop – Buhari

President Muhammadu Buhari, on Monday insisted that instances of corruption in the nation’s oil and gas industry must not be allowed in any form. Buhari stressed that his government was working relentlessly to make transparency the watchword in all oil and gas transactions. Declaring open the maiden edition of the Nigeria International Petroleum Summit, NIPS, […]

Crime Watch

Nigerian oil firm spent $5.8 bln on fuel imports since late 2017 – Reuters

Nigeria’s state oil firm said on Tuesday it had spent $5.8 billion on fuel imports since late 2017, as it combats a fuel shortage that has left people queuing for hours at filling stations and hobbled an already-struggling economy. “The corporation’s intervention became necessary following the inability of the major and independent marketers to import […]

Business & Economy

Noble Energy to export gas to Egypt

American petroleum and natural gas exploration and production company Noble Energy, Inc. has signed agreements to sell significant quantities of natural gas from the Leviathan and Tamar fields to Dolphinus Holdings Limited to supply gas in Egypt. These agreements, one for natural gas from Leviathan and one for Tamar, each provide for total contract quantities […]

Business & Economy

Malabu oil field court case postponed till June 18

A Nigerian court has set a hearing over a disputed 2011 oilfield deal for June 18, the country’s financial crimes watchdog said on Thursday, part of a string of international corruption probes into the purchase. The case relates to a purchase of the offshore OPL 245 oilfield in Nigeria by oil majors Royal Dutch Shell […]

Crime Watch

Start Ugwu (ugu) leaves business and make money

Fluted pumpkin also known as Ugu is well grown in West Africa as a leaf vegetable and also for its edible seed. It belongs to a member of the Curcurbitaceae family and is indigenous to southern Nigeria. The seed produced by the gourd which are high in protein and fat, and can therefore contribute to […]

Agriculture

US may stop importing oil from Nigeria

There are indications that the United States may halt crude oil import from Nigeria by 2022, as it moves closer to becoming a net export of petroleum products.The United State Energy Information Administration (EIA) has projected that the United States will become a net energy exporter in 2022 in the newly released Annual Energy Outlook […]

Business & Economy

Woah! Nonoil sector still in recession in Nigeria

I bet it was because of the slow rise in oil price that made Nigerian leaders declare that the country was out of recession last year. Since things were beginning to look rosy for the oil and gas sub-sector, they were quick to declare that the challenge is over… But not for small and medium […]

Business & Economy

African markets factors and outlook Feb 12, 2018

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday. – – – – – EVENTS: UGANDA – The central bank sets its benchmark lending rate at about 0800 GMT. The bank held the rate at 9.5 percent in December. GLOBAL MARKETS Asian share […]

Business & Economy

Graduate engineer trainees: Dangote Oil Refinery

The Dangote refinery has an annual refining capacity of 10.4 million tonnes (Mt) of gasoline, in addition to 4.6Mt of diesel and 4Mt of jet fuel. It will also produce 0.69Mt of polypropylene, 0.24Mt of propane, 32,000t of sulphur and 0.5Mt of carbon black feed.

Business & Economy

OPEC Shock… oil price nightmare coming true

The latest surge in U.S. oil output will probably hasten the country’s rise to the top of the producer pile. More important, it’s starting to look as though at least half of OPEC’s nightmare scenario for 2018 — a surge in shale output and slowdown in demand growth — is coming true. Last week’s avalanche of releases […]

Business & Economy

Africa markets factors and outlook Feb 6, 2018

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. – – – – – GLOBAL MARKETS Asian shares and U.S. stock futures sank on Tuesday, after Wall Street suffered its biggest decline since 2011 as investors’ faith in factors underpinning a bull run […]

Business & Economy

Why Nigeria is low on crude oil

Nigeria, Africa’s biggest oil producer and a member of OPEC, has suffered fuel shortages over the past few weeks. They complicated transport and hurt economic activity and, in the words of President Muhammadu Buhari, ensured that for many Nigerians the Christmas holidays were “anything but merry and happy.” His administration says it’s working overtime to end the […]

Business & Economy

Nigerian oil workers plan strike Monday

A major Nigerian oil union said on Saturday it would launch a strike from Monday after talks aimed at resolving a dispute with domestic oil and gas companies reached a deadlock. The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), whose members mainly work in the upstream oil industry, is clashing with the […]

Business & Economy

NNPC reaches 539km of Gas Pipeline projects in Nigeria

The Nigerian National Petroleum Corporation (NNPC) has so far completed, commissioned and delivered 500km of gas pipelines between 2010 to date as part of an aggressive expansion of gas pipeline infrastructure across the country. Group Managing Director of the NNPC, Dr. Maikanti Baru, stated this on Tuesday in Abuja at the 2017 Conference and Annual […]

Business & Economy

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 […]

Business & Economy

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 […]

Business & Economy

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 […]

Business & Economy

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 […]

Business & Economy

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 […]

Business & Economy
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