Hopes for a trade deal between the United States and China and expectations that OPEC would extend production cuts supported oil prices on Monday, helping them hold on to last week’s gains. Brent crude futures LCOc1, which rose 1.3 per cent last week, were little changed, trading at above 63 dollars per barrel at 1100…
The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) has called for compliance with the global ethics and best practices as a way of sanitising the oil and gas sector. Its National President, Mr Benneth Korie, made the call at the inauguration of the Kwara chapter of association’s executive in Ilorin. Korie, represented by…
Mr Bobby Dick, the Chairman of Independent Petroleum Marketers Association of Nigeria (IPMAN) in Abia, has called on relevant Federal Government agencies to restore supply of petroleum products to the Osisioma depot, near Aba. Dick made the call during a news briefing on Monday at the IPMAN Secretariat at Osisioma. He said that the depot…
…Following Bank Of Industry’s pledge to offer greater Support!*** After a long and hard struggle by the Nigerian Maritime Administration and Safety Agency (NIMASA) for a single digit interest facility in aid of operators in the country’s maritime industry, the Director-General, Dr. Dakuku Peterside, on Monday November 18, 2019 indicates he could now see brighter light at…
Seplat Plc on Monday announced the retirement of Mr Austin Avuru, as its Chief Executive Officer, effective July 31, 2020. The company, in a post listing requirement filing obtained from the Nigerian Stock Exchange (NSE) website, said thay Avuru would be replaced by Mr Roger Brown, its Chief Finance Officer. The statement said that Avuru…
Mr Ahmadu Kida-Musa, Deputy Managing Director, Deep Water District of Total Exploration and Production Nig. Ltd., says there are still billions of barrels of oil and trillions cubic feet of gas yet to be discovered in Nigeria. Kida-Musa said that Nigeria had not fully explored its oil fields even in the “so called” matured areas…
Notwithstanding the forecast global oil decline, the Nigerian National Petroleum Corporation (NNPC) says with the seven billion people on the earth, oil and gas will always be relevant. Mr Roland Ewubare, the Chief Operating Officer, Upstream of NNPC, said there was no magic yet for the replacement of oil and gas as a primary source…
The Petroleum Products Pricing Regulatory Agency (PPPRA) said that the current open price market of the Premium Motor Spirit (PMS) also known as Petrol as at Nov. 15 was N163.68. The Agency disclosed this in its Petroleum Products Pricing Template released on its website, on Monday in Abuja. According to the template, the amount is…
With the Lake Albert oil beginning to flow, Uganda has set its sights on further resources CAPE TOWN, South Africa, November 6, 2019/ — Africa Oil Week (www.Africa-OilWeek.com) got off to a high profile start with a prestigious Ministerial and VIP Symposium on the 28th floor of First National Bank’s corporate headquarters in Cape Town’s…
The Power Generation Companies (GenCos), have threatened to shut down power generation supply if pressing issues in the sector are not addressed. The GenCos spoke through the Executive Secretary, Association of Power Generation Companies (APGC), Dr Joy Ogaji at a news conference in Abuja on Sunday. Ogaji explained that the main reason for considering to…
