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…
LEKOIL (AIM: LEK), the oil and gas exploration, development and production company with a focus on Africa, announces that the 3D seismic acquisition and processing operations undertaken by Sinopec Changjiang Engineering Services Limited (Sinopec) at Otakikpo in which Lekoil has a 40 per cent interest have now been completed. The Company has commenced the data…
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…
Global energy and services company ENGIE, alongside its investment partner Meridiam consortium and Fonsis, the Senegalese Sovereign Fund, have signed a 25-year power purchase agreement with Senelec, the Senegalese off-taker for two solar photovoltaic projects in Senegal, ENGIE said in a Wednesday press release. Developed by the Senegalese government and the International Finance Corporation (member…
BP is planning to spend more than a billion dollars on its assets in Egypt in the coming year. According to Bob Dudley, BP chief executive, the company will spend $1.8 billion in Egypt and an additional $1 billion annually in Abu Dhabi on new discoveries and licensing rounds as it looks to expand its…
Delegates from around the world exchanged thoughts and the latest insights taking place in Africa and the future of the Oil and Gas industry CAPE TOWN, South Africa, November 9, 2018/ — Africa Oil Week (www.Africa-OilWeek.com) – the leading event dedicated to the African Oil and Gas industry successfully wrapped up after a content-packed conference and…