Monthly Archives: May 2018

Sale of Nigerian Crude Oil Threatened by Discount Pricing, US Shale Oil Boost

The influx of United States’ shale oil into refineries in northwest Europe and the Mediterranean, coupled with the adoption of discount pricing by some oil-producing countries to trade with buyers in east and western Europe have hurt demand for Nigeria’s sweet crude in the international market. This is coming as Iran’s oil minister, Bijan Zanganeh […]

Oil price falls to $74, Nigeria’s exports suffer

The international oil benchmark, Brent crude, on Tuesday continued its biggest losing streak since February, falling below $75 per barrel.   The downturn in oil prices came on the heels of worries that Saudi Arabia and Russia could pump more crude to compensate for a potential supply shortfall, with hedge funds reducing bullish positions in […]

Ghana continues to wean itself off Nigerian gas as Rosneft supplies LNG to Tema

  Russia’s Rosneft signed a deal with the Ghana National Petroleum Corporation for an annual delivery of 1.7 million tons of LNG. The volumes will be regasified at GNPC’s processing capacities in the port of Tema where the company is developing an LNG import terminal.   Rosneft gas supplies will cover a quarter of Ghana’s […]

Ladol mulls listing on NSE

Ladol, a logistics hub for the offshore oil industry in Lagos, Nigeria, is mulling a stock-market listing and corporate bonds to expand its facilities and get more business from major production companies.   Family-owned Ladol, where Samsung Heavy Industries Co. Ltd. is completing the construction of one of the world’s largest floating oil platforms for […]

NNPC Reviews Operational KPIs to Survive Uncertainties in Oil Industry

  The Nigerian National Petroleum Corporation (NNPC) on Sunday disclosed that it will review the key performance indicators (KPIs) and other operational strategies it had given to its subsidiaries to boost its plan of becoming a fully integrated national oil company.     NNPC stated that the reviews would enable it prosper as an oil […]

‘Nigeria Requires Savings, Stabilisation Mechanisms’

  Stakeholders who gathered Thursday in Lagos in a roundtable on “Savings and Stabilisation Mechanism for Nigeria,” organised by the Shehu Musa Yar’Adua Foundation’s Oil Revenue Tracking Initiative (ORTI) have concluded that Nigeria would require a saving and stabilisation mechanism to absorb crude oil price volatility. This is coming as crude oil prices recorded their […]

Suntrust Oil Asks Court to Restrain San Leon Energy, Six Others from Parading Selves as Shareholders

  Suntrust Oil Company Nigeria Limited has asked a Federal High Court in Lagos to issue a restraining order against San Leon Energy Plc and six other respondents in respect of the ownership of the third respondent, Martwestern Energy Limited. Apart from San Leon Energy, which is the first respondent, the six other defendants in […]

‘Nigeria Requires Savings, Stabilisation Mechanisms’

Stakeholders who gathered Thursday in Lagos in a roundtable on “Savings and Stabilisation Mechanism for Nigeria,” organised by the Shehu Musa Yar’Adua Foundation’s Oil Revenue Tracking Initiative (ORTI) have concluded that Nigeria would require a saving and stabilisation mechanism to absorb crude oil price volatility. This is coming as crude oil prices recorded their largest […]