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…

Chamber of Commerce has expressed optimism that its second African Food and Products Conference and Exhibition (AFPE) will aid the growth of non-oil export in the country. Themed ‘Non-oil exports: Scaling up productivity to meet global demand’ and scheduled to hold on Friday 25th May and Saturday 26th May, 2018 in Lagos Lagos by 9:00…

A trial for oil giants Eni and Shell over alleged kickbacks paid during the purchase of an offshore oilfield in Nigeria was Monday pushed back to 20 June awaiting a ruling on an appeal made by Shell.

Owing to the stability in crude oil prices, the banking sector’s credit to the oil and gas firms has increased by 21.92 per cent to reach N3.42trillion during the first quarter (Q1) of 2018. The amount is regarded as the highest credit allocation in Q1 2018, according to the National Bureau of Statistics (NBS). This…

The lax and inefficient nature of regulatory framework in oil and gas sector in Nigeria, may continue to affect the inflow of foreign direct investment unless government takes urgent action. The Managing Partner, The Chancery Associates, Emeka Okwuosa, who spoke with The Guardian in Abuja, Tuesday, insisted that the development of the industry would remain…