ENERGY

Ghanaian President, John Mahama has blamed the power interruptions being experienced by the country on sabotage  from Nigeria. Speaking during eid-el-fitr speech at a ceremony in Accra, Mahama said the sabotage of oil terminals in Nigeria occasioned the delay in the supply of crude oil, which Ghana ordered last month....

Oil prices retreated in Asia on Tuesday, with Brent easing below $50 on news of increased production from Nigeria following the repair of infrastructure damaged in militant attacks. Nigeria, Africa’s biggest producer, pumped an average 1.53 million barrels a day last month, up around 990,000 a day from May, according...

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Department of Petroleum Resources (DPR) and  Petroleum Products Pricing Regulatory Agency (PPPRA), have signified their plans to embark on strike and shutdown of the operations and activities in the oil and gas industry. In a press statement signed by...

Oando Plc has announced a $210 million recapitalization of its downstream operations by HV Investments II B.V., (HVI), a joint venture owned by Helios Investment Partners (Helios), a premier Africa-focused private investment firm and the Vitol Group (Vitol), the world’s largest independent trader of energy commodities As a result of...

Nigeria is seeking $40 billion to $50 billion in investment in oil projects just as it said it raised crude output to as much as 1.9 million barrels a day as of two days ago. According to Bloomberg reports, Minister of State for Petroleum Resources, Emmanuel Ibe Kachikwu said in...

The recent increase in the pump price of Premium Motor Spirit (PMS), otherwise known as petrol to N145 per litre by the Federal Government has led to a reduction of sales of the product by about 40 per cent. The Chairman, Major Oil Marketers Association of Nigeria (MOMAN) and Group...

The Federal Government has dissolved the executive management of the Niger Delta Power Holding Company of Nigeria Limited (NDPHC) led by Mr. James Abiodun Olotu. Olotu has been directed to hand-over immediately to Mr. Chiedu Ugbo, who has been appointed as the acting MD, according to a statement by the...

Oil prices rose for a third day to hit their highest in about eight months on Wednesday, boosted by industry data showing a larger-than-expected drawdown in U.S. crude inventories, worries about attacks on Nigeria's oil industry and strong Chinese demand for oil. London Brent crude for August delivery was up...

The Organisation of Petroleum Exporting Countries (OPEC) has chosen a former Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Mr. Mohammed Barkindo, as the Secretary-General According to Reuters report two OPEC delegates said Nigerian candidate Barkindo was chosen to be OPEC’s new secretary-general on Thursday in Vienna...

As Organisation of the Petroleum Exporting Countries (OPEC),began meeting,  Nigeria’s oil output has rose to 1.6 million barrels per day (bpd). Last month, output had fallen to 1.4 million bpd due to a string of militant attacks and an accident on the ExxonMobil platform exporting Qua Iboe, the country’s largest...