Category Archives: Uncategorized

NNPC seals $26.9b upstream deals

  The  Nigerian National PetroleumCorporation (NNPC) has struck $26.9billion deals in the upstream segment, showing investors’renewed confidence in the oil industry, its Group Managing Director, Dr. Maikanti Baru, has said.   Baru spoke as special guest of honour at the Nigeria Oil Industry Award Dinner and Cocktail gala night organised by the Petroleum Technology Association […]

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 […]

US high interest rates to affect Nigeria’s, others’ oil production

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 cost of production per barrel of crude oil. These countries, aside Nigeria, include Senegal, Angola and Ghana, among others,   According to Sebastian Spio-Garbrah, Chief Africa Frontier Markets Analyst, […]

Dickson: Bayelsa Has 30% of Nigeria’s Gas Reserves

  The Governor of Bayelsa State, Mr Seriake Dickson, said wednesday that the state alone retains 30 per cent of Nigeria’s gas reserves, arguing that Bayelsa could become the Houston of Africa if the federal government gave the needed support.     A statement by the governor’s Chief Press Secretary, Francis Agbo, noted that Dickson […]

Local content policy implementation and political influence in Nigeria oil and gas industry

  The Nigerian Oil and Gas Industry Content (NOGIC) Act was signed in April 2010 by the administration of Goodluck Jonathan with the aim to boost indigenous capacity through implementation of 30 per cent retention of oil and gas projects in the country. However, eight years after, many indigenous operators have success stories to share […]

Force IOCs to build refineries, PENGASSAN tells FG

  The Petroleum and Natural Gas Senior Staff Association of Nigeria on Tuesday asked the Federal Government to make it mandatory for international oil companies operating in the country to build refineries.   In his May Day 2018 message, PENGASSAN’s President, Olabode Johnson, said there should be a legal framework that would compel the IOCs […]