The outbreak of coronavirus and glut in the oil sector will drastically affect the nation’s oil industry, especially projected which are expected to take place this year, the Chairman...
FG ramps up crude oil output amidst fall in global demand
The Federal Government has started to ramp up crude oil production, despite struggling to find buyers with COVID-19 having destroyed demand around the globe.
Petroleum sector risks $210 billion cost cuts
The upstream sector of the oil and gas industry could be hit harder in the current dilemma facing the industry as deeper cuts hovering around $210 billion is being considered in the sector.
‘How shortage of gas will cripple power generation in Nigeria’
Amid rising tension from the outbreak of Coronavirus pandemic and the shrinking activities across oil fields, there are indications that Nigerians may end up in darkness due to shortage of gas.
IPMAN directs marketers to open stations for operations
The National President of the Independent Petroleum Association of Nigeria (IPMAN), Elder Chinedu Okoronkwo has directed all IPMAN members nationwide to open their filling stations for service....
Oil price, coronavirus to slash Africa’s upstream capex by 33%
Africa’s upstream sector may see its capital spending reduced by around 33 per cent in 2020 due to oil price crash and the coronavirus pandemic.
‘Nigeria can account for every molecule of oil it produces’
Nigeria is often acclaimed to be unable to account for the oil it produces, as conflicting reports are often released to the public. However, the Department of Petroleum Resources (DPR) Director/CEO, SARKI AUWALU debunks such claims saying several factors determine what is often declared. CLARA NWACHUKWU and FEMI ADEKOYA write. The industry is often described as…
Global refineries slow down production as fuel demand falls
defining operations in Europe and elsewhere in the world are being curtailed as gasoline and jet fuel demand is falling off a cliff due to the enormous demand destruction
‘In-country training will further aid local content capacity, development’
Though the implementation of the Nigerian Oil and Gas Industry Content (NOGIC) Act 2010 has aided investments and development in the oil and gas industry