Category: Oil & Gass

Nigeria Raked in $32.63bn from Oil, Gas Sector in 2018

Nigeria earned a total of $32.63 billion from the oil and gas sector in 2018, the latest oil and gas industry audit conducted by the Nigeria Extractive Industries...

BW Offshore Eyes Spin-off of $800m Oil Unit in First Quarter

Oslo-listed BW Offshore has said it plans to float its BW Energy oil and gas business in the first quarter of 2020, with an estimated valuation of between $700 million...

Lekoil Shares Plunge As Company Launches Loan Scam Investigation

Shares in Nigerian oil company Lekoil Limited plunged more than 70% following a suspension of trading after the firm discovered that a $184 million loan it had announced...

OPEC Secretary General Says Iraqi Oil Facilities Secure, Production Continuing

Iraqi oil facilities are secured and the country’s production is continuing, Secretary General of the Organisation of the Petroleum Exporting Countries (OPEC) Mohammed...

ExxonMobil French Fos Refinery Shipments Disrupted Due to Strike

ExxonMobil France said on Wednesday that its Fos refinery was experiencing some problems shipping products because of picketing by striking union workers, but its Port...

Nigeria Modular Refinery Ground Breaking Ceremony Holds May 2020

Phase one of the modular refinery and the ground breaking ceremony of the phase two is expected to hold in May 2020; The Waltersmith project has already reached 90...

OPEC Gives Nod to Slash Oil Output Target By 500,000b/d

World oil body, the Organisation of Petroleum Exporting Countries (OPEC) in Vienna, Austria gave affirmation to reduce its output target by 500,000 barrels a day. The...

OPEC’s Share of Indian Oil Imports in October Hits Lowest Since 2011

Indian oil import volumes rise from September’s low levels  Iraq secures top oil supplier status, Saudi slips to No. 2  Nigeria third-biggest supplier followed by...

IPMAN Applauds Nigerian Govt on Border Closure

BY ABDULLAHI KANO in Kano• Nigeria’s Independent Petroleum Marketers Association of Nigeria (IPMAN) has commended the federal government’s resolution of...

Saipem Wins $100m Equatorial Guinea Pipeline Contract

Italy’s Saipem has been awarded a contract in Equatorial Guinea worth $90-$100 million to build a 70 km subsea pipeline linking the Alen platform with the Punta Europa...