The World Petroleum Council, organisers of World Petroleum Congress, WPC, has postponed the event to December, 2020. In a statement obtained by The Daily, www.thedaily-ng.com, Tor Fjaeran, President, World Petroleum Council and Jeff Shellebarger, Chairman, 23rd WPC Organizing Committee, stated: “The widespread consequences of COVID-19, including health and safety concerns, travel restrictions, and impacts on…
Nigeria LNG Limited (NLNG) has signed the Engineering, Procurement and Construction (EPC) Contracts for its Train 7 Project with the SCD JV Consortium, comprising affiliates of Saipem, Chiyoda and Daewoo. The execution of the EPC Contractsnow triggers the commencement of the Detail Design and Construction phase of the Project expected to increase the capacity of…
States that have not benefited from medical facilities and infrastructure support from the Nigerian National Petroleum Corporation (NNPC) and her partners in the ongoing intervention initiative have no cause to worry. The corporation’s Group Managing Director, Mallam Mele Kyari, stated that the National Oil Company’s coordinated support would eventually reach them, explaining that inhabitants of…
The Nigerian National Petroleum Corporation (NNPC) has said that its downstream subsidiary Company in charge of bulk sales and distribution of petroleum products, Petroleum Products Marketing Company (PPMC), recorded ₦211.62billion sale of white products in February 2020. The white products are Kerosene, Diesel and Premium Motor Spirit (PMS), also known as petrol. The corporation’s Group…
…Sets up 7-man ad-hoc committee President of the Nigerian Senate, Ahmad Lawan explained that the investigation being carried out by the Senate into the finances of the Niger Delta Development Commission (NDDC) is to complement the ongoing forensic audit which was ordered by the federal government. The Commission is a federal government agency established by…
As part of the efforts geared towards ensuring that Nigerian oil and gas industry is adequately equipped to navigate the challenges and uncertainties thrown up by the Coronavirus, the Nigerian Content Development and Monitoring Board (NCDMB) will on Friday, April 15 hold a webinar with a theme “Innovating for the Future of Nigeria’s Oil and…
The Nigeria oil tubular goods market was worth US$ 440.51 million in 2019 and is projected to reach US$ 718.60 million by 2027; it is expected to grow at a CAGR of 6.5 percent during the forecast period. The rising production of shale and a resulting hike in horizontal and unconventional drilling is one of…
The U.S. Energy Information Administration (EIA) has raised its oil price forecasts for 2020 and 2021, its latest short-term energy outlook (STEO) has revealed. Brent spot prices are now expected to average $34.13 this year and $47.81 in 2020. The EIA’s April STEO had these figures at $33.04 in 2020 and $45.62 in 2021. WTI…
Russian Energy Minister Alexander Novak held a phone conversation with Saudi Energy Minister, Crown Prince Mohammed bin Salman al-Saud, during which they confirmed commitment to oil market stability and balance restoration, the Russian Energy Ministry said on Wednesday. Iran Press/ Europe: “After the negotiations, the two sides confirmed in a joint statement that Russia and Saudi Arabia…
By Ikenna Omeje The Russian Energy Minister, Alexander Novak, on Wednesday, held a phone conversation with his Saudi Arabian counterpart, Abdulaziz bin Salman Al Saud, in which, both expressed commitment to oil market stability and maintaining oil price balancing, Iran Press reports. A statement by Russian Energy Ministry said, “After the negotiations, the two sides…