Oil prices fell on Monday as markets reacted to reports that major producers disagree on how much oil to pump in the coming months. European Brent oil intermittently dropped below 46 dollars per barrel

Oil bearing communities and stakeholders in the oil and gas sector have raised concerns over loopholes in the Host Community fragment of the Petroleum Industry Bill (PIB)

Major players in the global oil and gas industry have agreed to conscientiously report methane emissions in a move to tackle one of the biggest contributors to global warming. The Oil and Gas Methane Partnership (OGMP) is a Climate and Clean Air Coalition (CCAC) initiative led by the United Nations Environment Programme (UNEP), European Commission…

The Youths and Environment Advocacy Centre (YEAC) has charged the Hydrocarbon Pollution Remediation Project (HYPREP) to train artisanal refiners in Ogoni and its environs on modular refineries to provide alternative employment opportunities and prevent re-pollution of the environment. It gave the charge in Ogoni during a training programme for youths and artisanal refiners on guidelines…

A massive oil well fire that has raged for more than five months in northeast India has finally been extinguished, officials said Sunday. Oil India engineers had battled the blaze in Assam state since an explosion in June, weeks after the well blew out and began discharging huge quantities of natural gas. Two employees of…

Notwithstanding competition from renewables, the Nigerian Association of Petroleum Explorationists (NAPE) has said the government would not relent in its exploration activities in the frontier basins, especially in the Benue trough, by deploying new technologies that aid investment decision-making. NAPE President, Alex Tarka, preparatory to the Association’s yearly conference and exhibition, told journalists yesterday that…

The Executive Vice Chairman/CEO of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, has underscored the centrality of economic diversification and ethical leadership at all levels of government as panacea to the current economic headwinds in Nigeria. Danbatta stated this when he delivered a paper titled: “Ethical Leadership as an Instrument for National Sustainability…

The initiative conceptualises a post-petroleum economy for Nigeria that is related to an energy transition from fossil fuels to renewable energy sources in Nigeria. The groundbreaking research toward a post-petroleum economy was commissioned by the Environmental Rights Action/Friends of the Earth Nigeria (ERA/FoEN) to provide some cost-benefit analysis of oil and gas and the prospects of…

The Petroleum Industry Bill (PIB) was introduced to the National Assembly in 2007. Contrary to all Nigerians’ expectations, the Bill, in its wholesale form, has survived three presidents and four convocations of the National Assembly. But its passage will not sacrifice thoroughness on the altar of speed, because it will be in the nation’s best interest…

Barring unforeseen circumstances, the newly-licensed Lagos Commodities and Futures Exchange (LCFE), is targeting about 10 million Nigerian youths for empowerment as commodities traders under its proposed capacity building programme. The Exchange plans to leverage its state-of-the-art technology to bring millennials and those in the group of Generation Z to the commodities and futures exchange ecosystem…

A Nigerian firm, Free on Board (FOB) Global Logistics, has secured a purchase order to supply 30 tonnes of yam, sweet potatoes, fresh fruits and vegetables (including water leaves, garlic, ginger, and okra) to Europe weekly. To maximize the opportunity, the Nigerian Export Promotion Council (NEPC) in conjunction with FOB started sensitising non-oil exporters on…

Stakeholders in Africa’s energy sector have insisted that crude oil still has major role in the continent’s future despite growing concern over climate change.