While other African oil-producing countries are gearing up to attract investments, regulatory uncertainty in Nigeria’s oil and gas industry has continued to darken the outlook for big projects in the country. Several planned deepwater projects in the country, with the potential to bring online almost 1.1 million barrels of new production daily over the next…
There are indications the world is fast moving into gas as major source of energy with a report by the International Energy Agency (IEA) saying that Natural gas is expected to overtake coal as the world’s second largest energy source after oil by 2030. The Paris-based IEA said in its ‘World Energy Outlook 2018’ that…
President Muhammadu Buhari has said that his administration will continue to implement policies that attract investment and spark competition in critical sectors of the economy for employment creation and growth. Speaking at the State House, Abuja on Thursday while receiving the Chairman and Management of the LADOL Integrated Logistics Enterprise on a courtesy visit, President…
Presidents Nana Akuffo Addo of Ghana and Uhuru Kenyatta of Kenya have both described the investments in African entrepreneurs, by Philantrophist Mr Tony O. Elumelu, CON as apt and the right path for the economic transformation of the region. They shared this at the just concluded fourth edition of the Tony Elumelu Foundation forum for…
Salma Usiku, is an exploration Geologist with Azinam, which is an Oil and gas exploration company, part of the Azinam group that is based in Windhoek, Namibia. She was honoured with the prestigious Global Women Petroleum & Energy Club Award for Excellence in Africa 2018, at the just concluded Future Energy Africa conference. This award…
Nigeria has recently been described as a gas producing country having some significant quantity of crude oil, but the country has failed to fully utilize the opportunities inherent in gas. This article highlights the challenges confronting the sector, as well as the opportunities; and also explores the various ways the challenges can be surmounted and…
Seplat Petroleum Development Company Plc (“Seplat” or the “Company”), a leading Nigerian indigenous oil and gas company listed on both the Nigeria Stock Exchange and London Stock Exchange, today announces that the President and Honourable Minister of Petroleum Resources has given consent for the renewal of OMLs 4, 38 and 41 to a new expiry…
A surplus of December loading cargoes has largely cleared thanks to a number of tenders, traders said on Thursday, but there was still no sign of any January schedules. Less than 20 cargoes of Nigerian crude were still available, traders said, with January loading programmes expected to start emerging on Friday. Only a handful of…
OPEC and allied oil producers will cut or adjust production as needed to balance the market, the group’s president, United Arab Emirates Energy Minister Suhail Al Mazrouei, said Wednesday. If OPEC + needs to reduce output, it will do so, he said in a Bloomberg TV interview in Abu Dhabi. The producers will take whatever…
Makainti Baru,the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), yesterday said Nigeria needs an oil price that does not fall below $70 due to its production constraints. Dr Baru spoke at a Global Business Leaders Panel Session on the sidelines of the 21st Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), held…