Oil and gas businesses operating in the downstream retail segment of the industry risk demise if the needed attention is not paid to market data management, according to Energy360 Africa Limited. The company stressed that proper market data management will not only help to boost the returns and growth of downstream players, but will also…

Schneider Electric says it is committed to providing the industry with digital solutions for businesses that are guaranteed to enhance profitability and optimise costs. The foremost innovator and specialist in energy management solutions made this known during the Society for Petroleum Engineers/Nigerian Annual International Conference and Exhibition themed: “The role of the Oil and Gas…

Some investors have expressed concerns over what they describe as the ‘high charges’ in Nigeria’s oil and gas free zones, noting that the development endangers government’s foreign direct investment (FDI) drive into the sector as well as hampers the growth of the industry.

The Minister of state for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, said Nigeria would advise against additional oil supply to the global market by OPEC and non-OPEC members. Kachikwu made the country’s position known in an interview with journalists on Thursday ahead of the 174th Meetings of the OPEC Conference and the OPEC and non-OPEC…

OPEC ministers gather in Vienna Tuesday for crunch talks on a landmark pact curbing oil output, with Saudi Arabia and Russia hoping to persuade their peers to increase production again.

A new prostate cancer Deoxy ribonucleic Acid (DNA)/genetic material test identifies the one in 100 men who are six times more at risk of developing the life-threatening disease. Researchers identified 63 new genetic mutations that are linked to the condition, which they combined with more than 100 DNA variants that were already known to cause…

Nigeria Extractive Industries Transparency Initiative (NEITI) has canvassed a review of obsolete laws in the oil and gas contracts. NEITI’s Executive Secretary, Waziri Adio, made the call at the unveiling of NEITI dashboard in Abuja. He blamed the Federal Government for not being proactive in the review of extant laws guiding multinational oil companies. According…

After months of sharp oil price rises there is now considerable uncertainty as to the market's direction for the rest of the year, OPEC said on Tuesday as a key meeting of oil producers looms.

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has dragged some International Oil Companies (IOCs) to the International Labour Organisation (ILO) committee on standards over anti-labour practices in Nigeria.    Making the presentation to the committee at the ILO building in Geneva, Switzerland, the President of NUPENG, William Akporeha, alleged that the status…

Vice President Yemi Osinbajo has urged African countries to build a diversified economy that can survive without proceeds from oil and gas. He made the call during the extraordinary session of ministers of the African Petroleum Producers Organisation (APPO) in Abuja, yesterday. Osinbajo, who declared the event open, noted that without collaboration, investments that can…

The Chairman Board of Governors, the Petroleum Club, Lagos, Godswill Ihetu, has said the Petroleum Industry Bill (PIB), if passed into law would address inefficiencies, and ensure strong regulations in the Oil and Gas industry. Speaking at a workshop on PIB organised by Petroleum Club in Lagos recently, he noted that the reform of the…

Following the approval of a new gas and oil policy, the Federal Government is working to improve business environment, leading to increased investor activity and energy supply, thus improving prices of goods and services. The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, who made this disclosure at Light up Nigeria conference organized by…