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Oil & Gas - Page 65

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

Business·News·Oil & Gas

$20 Billion Needed Annually To Address Nigeria’s Gas Infrastructure Gap- NEITI

Dr. Ogbonnaya Orji, the Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), emphasized the urgent need for an estimated $20 billion per year to bridge the expanding gas infrastructure gap in Nigeria. Speaking at the Nigerian International Pipeline and Security

November 7, 2023

Israel-Iran Crisis: Crude Oil Prices Will Rise Above $90 Per Barrel If Conflict persists

Business·News·Oil & Gas

Massive Investment Needed to Revive Nigeria’s Oil Production, Says AA Holdings Chairman

The Chairman of AA Holdings, Dr. Austin Avuru, has highlighted the massive investment required to breathe new life into the country’s oil production. As Nigeria seeks to reinvigorate its energy sector and regain its foothold in the global oil market, the Chairman’s declaration

November 7, 2023

Business·Oil & Gas

Train-7 Project Hits 52%, Employs 8,300 Persons

The $5 billion Train-7 project being undertaken by the Nigeria Liquefied Natural Gas (NLNG) at Finima, Bonny Island, Rivers State has reached 52 percent and currently engages 8,300 Nigerians of diverse skill sets. This was made known on Friday when Management of

November 6, 2023

Saudi Arabia, Russia Extend Oil Production Cuts Till End Of 2023, Pledge to Review

Business·News·Oil & Gas·World News

Saudi Arabia, Russia Extend Oil Production Cuts By 2 Months

In a joint effort to maintain global oil market stability, Saudi Arabia and Russia have announced their commitment to continue voluntary production cuts through December 2023. Saudi Arabia will reduce its output by 1 million barrels per day (b/d), maintaining a production

November 6, 2023

Why No Plan To Withdraw Dormant Refining Licences – Nigerian Govt

Business·News·Oil & Gas

Nigerian Govt To Hold NNPC Accountable For Refinery Rehabilitation By 2024- Lokpobiri

Nigeria’s Minister of State for Petroleum Resources, Heineken Lokpobiri, has voiced the Federal government’s commitment to holding the Nigerian National Petroleum Company Limited (NNPC) accountable for the rehabilitation of the nation’s refineries, as scheduled, by the end of 2024. Lokpobiri delivered this

November 6, 2023

N10 Trillion Spent On Refineries, But They Refuse To Work, Says Taiwo Oyedele

Business·Oil & Gas

NUPRC Wades Into Reason For Delayed Take-off Of Dangote Refinery, 5 Others

Nigeria’s failure to make crude oil available to the multi-billion dollar Dangote Refinery has been identified as reason for the delayed production of refined petroleum products at the facility. This came to the fore as the 650,000 barrels per day Dangote Refinery

November 2, 2023

Business·Oil & Gas

African Oil Producers Gather In Abuja To Define Industry Future

In light of the impending energy transition and the diminishing financial support for the hydrocarbon sector, eighteen member nations of the African Petroleum Producers Organization (APPO) are gathering for the third Africa Local Content Roundtable to map out a course for the

October 27, 2023

News·Oil & Gas

NCDMB Boss Warns Against Altering Petroleum Industry Act

The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote has advised that making unending changes to the structures set up by Petroleum Industry Act 2021 could kill the confidence of investors and stall new projects

October 26, 2023

Fresh Petrol Price Hike Stokes Fears Of Further Inflation Spike In Nigeria

Business·News·Oil & Gas

Fuel Scarcity Looms As Forex Crisis Causes 90% Depot Shutdown

Players in the downstream sector of Nigeria’s oil industry have lamented that 90 per cent of depots operated by independent oil marketers are currently closed owing to the volatility in the foreign exchange (forex) market and difficulties in the local distribution channel.

October 25, 2023

Jigawa Residents Spent More On Petrol In June

Business·Oil & Gas

How Forex Scarcity Hinders Marketers From Importing Petrol – NMPDRA

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has disclosed that the challenge of Forex illiquidity was the reason behind the decline in the number of approved importers bringing petrol cargoes into the country. This, according to the Regulatory Authority, has

October 24, 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 65

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

$20 Billion Needed Annually To Address Nigeria’s Gas Infrastructure Gap- NEITI

Massive Investment Needed to Revive Nigeria’s Oil Production, Says AA Holdings Chairman

Train-7 Project Hits 52%, Employs 8,300 Persons

Saudi Arabia, Russia Extend Oil Production Cuts By 2 Months

Nigerian Govt To Hold NNPC Accountable For Refinery Rehabilitation By 2024- Lokpobiri

NUPRC Wades Into Reason For Delayed Take-off Of Dangote Refinery, 5 Others

African Oil Producers Gather In Abuja To Define Industry Future

NCDMB Boss Warns Against Altering Petroleum Industry Act

Fuel Scarcity Looms As Forex Crisis Causes 90% Depot Shutdown

How Forex Scarcity Hinders Marketers From Importing Petrol – NMPDRA

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