Industry

The Federal Government of Nigeria (FGN) inaugurated 89 individuals from five (5) different key agencies to ensure and enforce transparency and accountability in the distribution of petroleum products in the country. Speaking at a brief…
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...5% Reduction in cost of Crude Production -By Kenny Folarin The Minister of State for Petroleum Resources, Chief Timipre Sylva has said that the ministry will increase crude oil production to three million barrels per day (bdp) as…
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-By Fred Ojiegbe Stakeholders have been assessing Nigeria’s readiness to meeting the requirements of transparency watchdog, the Extractive Industries Transparency Initiative (EITI) January 1, 2020 deadline for countries including…
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-By Fred Ojiegbe The Ministry of Petroleum Resources, one of the ministries critical to Nigeria’s economic growth appears to be on a good trajectory with the appointment of Timipre Sylva as the Minister of State. Sylva, who is on a…
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-By Gideon Osaka United States-based Chevron and Mobil, as well as France-owned Total are said to be considering a sale of assets in Nigeria which could be valued at up to $6 billion, Rystad Energy, an independent energy research and…
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-By Gideon Isaka Oil producing countries are likely to experience glut in 2020, the International Energy Agency, IEA has warned. It stated that global oil supply could continue to rise at a rapid pace in 2020, surpassing the…
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…Expert advocate Stringent Policies to curb further leakage -By Fred Ojiegbe Oil revenue has over the years been the highest revenue earner for Nigeria, a development which has led to over-dependence of the country on the oil sector,…
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-By Fred Ojiegbe Decades of clamour for the review of government’s share of revenue under the Production Sharing Contracts (PSCs) between the various oil companies operating in Nigeria and the Nigerian National Petroleum Corporation…
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-By Fred Ojiegbe Indications have emerged that a growing demand for renewable sources of energy, coupled with rising fuel efficiency and a transition to electric vehicles, will hit the oil sector. Consequently, demand for oil would slow…
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-By Gideon Osaka Nigeria took a two-rig leap as its rig count rose to 17 in September, as against 15 recorded in August. This is coming at a time the Organisation of Petroleum Exporting Countries, OPEC took a five-rig leap, having…
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