Victoria Island, Lagos – The Department of Petroleum Resources (DPR), on behalf of the Federal Government of Nigeria, has formerly announced the commencement of 2020 Marginal Field Bid Round exercise. The Bid Round exercise is open to indigenous companies and investors interested in participating in Exploration and Production (E&P) business in Nigeria. A total…
Marketers insist on free market as PPPRA fixes N102.13 per litre ex-depot price Nigeria, Africa’s biggest crude exporter, on Monday released a new price band for retail stations across the country in which it slashed the least pump price for Premium Motor Spirit (PMS) also known as petrol to N121.50, about $3, per litre….
This Jan. 30, 2012 photo, shows the sign for the ExxonMobil Torerance Refinery in Torrance, Calif. Exxon said Tuesday, Jan. 31, 2012, its fourth-quarter earnings rose 2 percent as higher oil prices made up for a drop in production. (AP Photo/Reed Saxon) ExxonMobil has reduced its gas flare in Guyana from 80 million cubic feet…
The Future Maritime Leaders essay competition represents a valuable opportunity for young people aspiring to become high-level leaders of the future to meet and engage with senior maritime stakeholders. This year’s topic: ‘Over the next decade, how can the maritime sector continue to contribute to realizing the Sustainable Development Goals?’ was selected because the global maritime…
The people of Brass Kingdom in Bayelsa State are seeking for the remediation and compensation for the 150,000 barrels of toxic waste being discharged by the Nigerian Agip Oil Company (NOAC) yearly into Brass river. According to the community this huge waste discharge has over the years brought about environmental pollution to their source of…
Nigeria and Iraq yet to meet their share of OPEC+ production cut as the entire member countries record the lowest production output in two decades in this month of May. On average, the 13-member Organization pumped 24.77 million barrels per day (bpd) this month, down by 5.91 million bpd from April’s revised figure. OPEC…
President Muhammadu Buhari has approved the reconstitution of the Board of the Nigerian National Petroleum Corporation (NNPC), after the expiration of the term of the board members appointed in 2016. Members of the new Board are: Mohammed Lawal (North West), Tajudeen Umar (North East), Adamu Mahmood Attah (North Central), Senator Magnus Abe (South South), Dr…
Kyari, others mourn The immediate-past Managing Director of the Nigerian National Petroleum Corporation, Maikanti Kachalla Baru, is dead. He was 60. His successor, Mallam Mele Kolo Kyari, who announces this in a Tweet, stated that Baru died on Friday. He extolled the virtues of the deceased. “My brother, my friend and my mentor, Dr….
COVID-19 has intensified the debate on the global renewable energy transition. The African Energy Chamber and Africa Oil & Power hosted a webinar focusing on renewable energy development in the short and long term. Seventy-two percent of the world’s installed capacity in 2019 originated from renewable resources. South Africa, Cape Town, May…
Cuts 30% off 2020 spending over COVID-19 Chevron Corporation, America’s super oil major, has slated 6,750 staff for sack in one of the biggest global mass disengagment of work force. The mass sack, the company with major footprint in Africa said, represents a cut of between 10 per cent to 15 per cent of…