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Oil & Gas - Page 59

U.S. Seizes Sanctioned Venezuelan Oil Tanker, Escalating Tensions

The United States has seized a sanctioned Venezuelan oil tanker off the country’s coast, President Trump announced Wednesday, escalating tensions with Caracas and sending oil prices higher. “We’ve just seized a tanker on the coast of Venezuela, very large, largest one ever,”

December 11, 2025

News·Oil & Gas

NCDMB Restates Commitment To Capacity Utilisation, Patronage For Nigerian Service Companies

NCDMB has assured that patronage and deployment of indigenous oil and gas service companies would remain of strategic importance

December 20, 2023

Business·News·Oil & Gas

Tinubu Calls For Immediate Action From NNPCL Board, Warns Against Non-Performance

In an address during the inauguration of the Nigerian National Petroleum Company Limited (NNPCL) Board at the State House on Monday, President Bola Tinubu emphasized the urgency for the newly formed board to deliver results promptly. Highlighting a zero-tolerance policy toward non-performance

December 19, 2023

TotalEnergies Sells Onshore Oil Asset In Nigeria To Chappal Energies For $860m

Business·News·Oil & Gas

TotalEnergies Pledges $6 Billion Investment In Nigeria’s Oil & Gas Sector

In a move to bolster Nigeria’s energy landscape, Patrick Pouyanne, head of TotalEnergies, engaged in talks with President Bola Tinubu in Abuja, solidifying their commitment to Nigeria’s oil and gas industry with a pledge of $6 billion. Directing their focus toward offshore projects

December 19, 2023

$500m World Bank Loan: LCCI Highlights How Nigeria Can Reduce External Borrowing

Business·News·Oil & Gas

LCCI Aligns With World Bank, Urges NNPC Reforms For Economic Stability

In an assertive statement, Dr. Chinyere Almona, Director-General of the Lagos Chamber of Commerce & Industry (LCCI), aligned the Chamber’s stance with the World Bank’s apprehensions regarding the Nigerian National Petroleum Corporation Limited (NNPCL) and other Government-Owned Enterprises (GOEs). She emphasized the

December 18, 2023

5 Reasons Nigeria's Crude Oil Production is Declining – And What Next

Business·News·Oil & Gas·World News

Global Crude Oil Demand Slips In Q4 2023, Forecasts Signal Deceleration Into 2024

The International Energy Agency (IEA) revealed a downward shift in the global crude oil demand for the fourth quarter of 2023, marking a significant decrease from projections. The agency anticipates a slip to 101.7 million barrels per day, highlighting a noticeable slowdown

December 17, 2023

NNPC: Petrol Import To Stop As Port Harcourt Refinery Begins Operations Soon

Business·Oil & Gas

2024 Budget: 1.78mpd Oil Production Can Be Achieved – NNPCL Boss

Despite the drop in the crude oil production as indicated in the latest November 2023 report, Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, has asserted that 1.785 million barrels of oil per day (bpd) in

December 14, 2023

OPEC Envisions Medium-Term Emergence Of Modular Refineries In Nigeria

Business·Oil & Gas

How Port Harcourt Refinery Forced Many Nigerians Out Of Business – IPMAN

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said the non-functional state of the Port Harcourt Refinery in Rivers State has pushed many of people out of business by hampering the movement of persons, goods and services. The body disclosed this

December 14, 2023

How Strong Competitive Market Will Stabilise Fuel Price In Nigeria

Business·Oil & Gas

Petrol Should Sell N750/litre In Nigeria But For ‘Partial Return’ Of Subsidy – World Bank

The World Bank has revealed that premium motor spirit, otherwise known as petrol, should be priced in Nigeria at N750 per litre at the pumps unless the government is paying some form of subsidy on the product. The bank’s Lead Economist for

December 13, 2023

Business·Oil & Gas

Nigeria Optimistic On Achieving 1.7mpd Crude Despite November Output Drop

The Nigerian government has expressed optimism that the country will reach and exceed the benchmark for the 2024 crude oil budget of 1.7 million barrels per barrel despite a slight decrease in oil output in November 2023.

December 13, 2023

Business·News·Oil & Gas

NNPC Reveals 127 Incidents Of Crude Oil Thefts In 1 Week

Amidst escalating concerns, Nigerian National Petroleum Company Limited (NNPCL) has revealed 127 incidents of crude oil theft between December 2 and 8 within the oil-producing regions This was revealed through a report shared on Tuesday. In a candid acknowledgment of the intensifying

December 12, 2023

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Venezuela Condemns Trump’s Threat, Pledges to Defend Sovereignty

The government of Venezuela has condemned what it described as

Bank of Japan Poised to Lift Rates to 30-Year High as Inflation Pressures Persist

The Bank of Japan (BOJ) is set to raise its

SEC Orders Full Registration of Tradable Instruments by January 2026

The Securities and Exchange Commission (SEC) has ordered all Capital

UK Targets Sugary Milk Drinks as Government Tightens Health Levy

The UK Labour government has expanded its existing sugar tax

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Oil & Gas - Page 59

U.S. Seizes Sanctioned Venezuelan Oil Tanker, Escalating Tensions

NCDMB Restates Commitment To Capacity Utilisation, Patronage For Nigerian Service Companies

Tinubu Calls For Immediate Action From NNPCL Board, Warns Against Non-Performance

TotalEnergies Pledges $6 Billion Investment In Nigeria’s Oil & Gas Sector

LCCI Aligns With World Bank, Urges NNPC Reforms For Economic Stability

Global Crude Oil Demand Slips In Q4 2023, Forecasts Signal Deceleration Into 2024

2024 Budget: 1.78mpd Oil Production Can Be Achieved – NNPCL Boss

How Port Harcourt Refinery Forced Many Nigerians Out Of Business – IPMAN

Petrol Should Sell N750/litre In Nigeria But For ‘Partial Return’ Of Subsidy – World Bank

Nigeria Optimistic On Achieving 1.7mpd Crude Despite November Output Drop

NNPC Reveals 127 Incidents Of Crude Oil Thefts In 1 Week

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UK Targets Sugary Milk Drinks as Government Tightens Health Levy

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