Daily Archives: May 4, 2018

High cost of production to affect Nigeria’s, others’ oil output

  Nigeria and other countries in sub-Saharan Africa may continue to suffer high production cost and reduced output as global oil and gas stakeholders strive to reduce the cost of production per barrel of crude oil, The Nation reports.   According to Sebastian Spio-Garbrah, Chief Africa Frontier Markets Analyst, DaMina Advisors LLP, Ontario, Canada, the […]

PENGASSAN calls for speedy passage of bills

  The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has called on the National Assembly to expedite action on the Petroleum Industry Administration, Petroleum Industry Fiscal and Petroleum Host Community Bills in order to realise the benefits of the intended oil and gas reforms.   In a message by its President, Comrade […]

High oil prices boost IOCs, indigenous firms earning in Q1

  As crude oil prices continue to soar, International Oil Companies (IOCs), and indigenous firms in Nigeria recorded significant profit during the first quarter of 2018.   Sharply climbing oil prices and years of cutting cost when they were low, are rewarding some of the world’s largest oil producers with profits not seen when crude […]