ENERGY

  Everything being equal, Nigerian oil technocrat, Mohammed Barkindo, may take the top job at the Organisation of Petroleum Exporting Countries (OPEC) as its Secretary-General when the group meets on Thursday. He is seen by many of the members of the organisation as a compromise candidate to lead the group...

  World oil market is immensely profiting from the chaos in Nigeria as result of disruption to the nation’s output as militants have continued to blow oil installations in the Niger Delta region of the country which is the base oil production the country. According to Bloomberg’s report monitored by...

Zenith Bank Plc and French Development Agency (Agence Francaise de Development (AFD), operator of France’s bilateral development finance mechanism, have signed a $100 million power sector credit facility. The on-lending term loan being made available to Zenith Bank is to support new investments in the capital expenditure of Distribution Companies...

Following the Federal Government downstream sector deregulation, share price of companies listed in the Oil & Gas sector on The Nigerian Stock Exchange (NSE) received boost on investors surge demand. Investors taking position in the Oil & Gas share impacted positively on NSE Oil & Gas index as it gained...

By our Correspondent The Chairman, House of Representatives Committee on Downstream Sector, Hon. Joseph Akinlaja has lauded the seamless operation of Nipco terminal in the petroleum products storage and distribution across the nation even as he drums support for deregulation of the sector. Hon Akinlaja who gave the commendation during...

By our Correspondent Oando Gas & Power Limited has commenced the development of a mini Liquefied Natural Gas (LNG) facility through its Transit Gas Nigeria Limited (TGNL) subsidiary in Ajaokuta, Kogi State. The 20 mmscf/day plant is to fulfil the gas supply requirement for captive power plants, embedded generation, and...

 By our Correspondent Shell said on Monday that oil output was continuing at its oil fields in the country despite reports of a militant attack near its Bonga facilities. According to Reuters report monitored by Business247, media reports said the company was evacuating workers because of threats from militants. But...

The Nigerian National Petroleum Corporation (NNPC) said it recorded a loss of N18.89 billion in the month of March, 2016, even as it pointed out that the loss was an improvement on a deficit of N24.23 billion recorded in February. The agency which made the disclosure in its monthly financial...

Nigeria will soon begin exploratory drilling in search of oil in the north eastern Chad Basin region by October, the Minister of State for Petroleum Resources, Emmanuel Ibe Kachikwu, has said. According to a report by Reuters, the country may be on the verge of a significant oil find in...

The Organization of Petroleum Exporting Countries (OPEC) increased production by 484,000 barrels to 33.217 million daily in April. This is the highest since 1989 going by the data on survey of oil companies, producers and compiled by Bloomberg going. OPEC crude production surged in April, led by Iran, which is...