News and Updates

The Crude Oil Refinery-Owners Association of Nigeria (CORAN) is set to host a summit aimed at revitalising the country’s refineries. A statement by the chairman of CORAN, Mr. Momah Oyarekhua, said that the inaugural edition of the summit with the theme, “Making Nigeria a Net Exporter of Petroleum Products”, would hold from October 7 to […]

Nigeria’s crude oil production rose to 1.307 million barrels per day in the month of July 2024, a monthly oil market report released yesterday by the Organisation of Petroleum Exporting Countries (OPEC) has said. The report showed a marginal increase in the previous month’s production which was 1.276m bpd and 1.251m in the month of

Axxela Limited, a sub-Saharan Africa’s leading gas and power portfolio company in partnership with NNPC Gas Marketing Limited (NGML), has commissioned a 5km natural gas pipeline network in Victoria Island, connecting Eko Atlantic City to piped natural gas (PNG) in Lagos. The milestone marked a significant achievement in Axxela and NGML’s ongoing 72.5km pipeline infrastructure

Nigeria’s floundering economy has received a lifeline with a massive increase in the nation’s daily crude oil production from 1.25 million barrels per day (mbpd) in June to 1.61 mbpd as of July 23rd. The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, announced the good news at the weekend while

The Chief Executive Officer of Umera farms, Olamide Alao-Akala, has charged the Women’s wing of the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, to align with the right networks and groups of people that will have positive impacts in their lives . She stated that aligning with the right networks of people

The recent order handed down the Chief of Defence Staff, General CG Musa by President Ahmed Bola Tinubu to end the menace of oil theft once and for all time may have to reset the security dynamics of the oil rich region of Nigeria. For many years, the problem of oil theft, which its roots

BP’s latest energy outlook forecasts oil demand to peak in 2025, but the decline will be gradual, with consumption remaining high in 2035.The energy transition is losing momentum due to slowing EV sales, insufficient renewable capacity expansion, and rising electricity costs.The developing world’s growing energy needs are a major factor in the continued reliance on

China’s natural gas production increased by 6% in the first half of the year compared to the same period a year earlier as state companies are boosting domestic output with new field start-ups. Chinese natural gas production stood at 123.6 billion cubic meters (bcm) in January to June, up by 6% year-over-year, per data by

Nigeria’s Dangote refinery is set to receive its first shipment of Brazilian crude oil as it continues towards full operational capacity. The purchase of Brazilian crude is a first for Nigeria. The refinery will import a one-million-barrel cargo of Brazil’s Tupi crude, scheduled for delivery in the latter half of next month.The Dangote refinery has

Chinese state-held oil and gas giant CNOOC said on Monday it had achieved an exploration breakthrough in medium-to-deep Mesozoic plays in the Bohai Bay offshore China. CNOOC, which specializes in offshore exploration and production in China and abroad, was exploring a discovery well in the Longkou 7-1 oilfield in eastern Bohai Bay. The well was