Nigeria’s oil sector earns N817.48b in first quarter
The CBN in its 2017 quarterly economic report released recently, put the federally-collected revenue in the Q1 also fell short of the 2016 provisional quarterly budget estimate by 36.3 per cent.
Global oil inventory to decline by 0.1mbpd in 2017
OPEC Secretary-General, Mohammed Barkindo, said rebalancing of the oil market is progressing more slowly than expected, but will speed up in the second half of the year.
Neconde clears air on five per cent equity in OML 42
Managing Director of Neconde Energy, Frank Edozie, at a media parley in Lagos recently, said there was no agreement between the company and the communities to remit five per cent equity.
GETS beneficiaries complete training
Energy Institute Nigeria has announced the completion of the first set of 20 professional graduate engineers from the 2016/2017 Graduate Engineering Training Scheme (GETS).
SPE to discuss production cost, regulation challenges at forum
As prices of crude oil prices remained low forcing many companies to engage in different strategies to be relevant in the sector, the Society of Petroleum Engineers, Nigeria Council...
Prices of diesel, cooking gas decreased in June, says bureau of statistics
The country has recorded decreases in the prices of Automotive Gas Oil (Diesel) and Liquefied Petroleum Gas (Cooking Gas) according to the latest data from the National Bureau of Statistics (NBS).
Rig owners seek alternative funding for oil industry
Rig owners in Nigeria have tasked the Federal Government to implement the alternative funding stream for joint venture operations it approved in November last year.The operators regretted that the inability of government to execute the plan has further thrown the industry into instability......
Baker Hughes, GE Oil complete merger
The merger between Baker Hughes Inc (BH). and GE’s oil and gas business is complete. The combination, Baker Hughes, a GE company, brings together capabilities across the full value chain of oil and gas activities—from upstream to midstream to downstream.
Nigeria LNG fetes Nipco’s gas terminal
The Managing Director, Nigeria LNG limited, Tony Attah has described the NIPCO Liquefied Petroleum Gas (LPG) Terminal as a world-class facility that could assist the nation effectively as a game changer in the gas industry.
Consumers owe Ikeja Electric Plc N88 billion electricity bills
Accumulated debt profile of customers under the Ikeja Electric Plc network has hit N88 billion, a development that is hindering the planned metering programme, as most its revenue are stuck with consumers who are reluctant to offset their outstanding bills.