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Oil & Gas - Page 67

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·Oil & Gas

Nigeria’s Gas Industry In Crisis As Drilling Costs Skyrocket To $30m, Operators Warn

Nigeria’s pursuit of leveraging its natural gas reserves for industrialization and development has suffered a setback, as drilling cost for gas wells is climbing to $30 million. At a media parley and training session for energy reporters, the Nigerian Gas Association (NGA)

October 12, 2023

Business·News·Oil & Gas

Oil Assets Divestments Will Boost Production, Employment – Wabote

The Nigerian oil and gas industry is poised for a boost in crude oil production, employment creation, and capital injection with the planned divestment of some assets by select international oil and gas companies and concomitant acquisition by operating indigenous companies, the

October 11, 2023

Business·Oil & Gas

Nigerian Regulator Upbeat As Seplat Speeds Up $1.3bn ExxonMobil Asset Purchase Deal

Seplat Energy Wednesday expressed optimism on finalizing talks that will allow it to conclude the deal to purchase ExxonMobil’s offshore shallow water assets. This is as the regulator, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is “very optimistic” that the sale of

October 11, 2023

News·Oil & Gas

Nigerian Content Key To Meeting Renewed Hope Agenda – Petroleum Minister

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has identified the effective implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010 as one of the key levers for actualizing the Renewed Hope Agenda of

October 11, 2023

Senate Speedily Passes N2.176trn Supplementary Budget, Cites Dry Season As Reason

Business·Oil & Gas

Senate Demands Stiffer Punitive Measures As Nigeria Loses N2.3trn To Crude Oil Theft

Senator Ned Nwoko has disclosed that Nigeria has suffered a loss of N2.3 trillion due to crude oil theft in 2023. Disclosing this yesterday, he emphasized that the socio-economic impact of pipeline vandalism and oil bunkering has plunged the nation into a

October 11, 2023

NNPC Doesn’t Have Fuel To Sell – Oil Marketers’ Depot Chairman Says

Business·Oil & Gas

NNPCL Lying To Nigerians, Country Will Burn Without Fuel Subsidy – Oil Marketers

Oil marketers in the country under the aegis of Independent Petroleum Marketers Association of Nigeria (IPMAN) has accused the Nigerian National Petroleum Company Limited (NNPCL) of twisting the facts as regards the reintroduction of fuel subsidy. This was as they wondered what

October 11, 2023

Nigeria’s Crude Oil Production Surges To 1.3mbpd

Business·Oil & Gas

OPEC Projects $14tn Investment Required To Satisfy Surging Oil Demand

The Organisation of Petroleum Exporting Countries (OPEC) has unveiled its 2023 World Oil Outlook with a projection of soaring oil demand and an urgent call for a $14 trillion investment. This perspective sets them apart from other forecasters, particularly the International Energy

October 10, 2023

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

Business·News·Oil & Gas

Why Some Marketers Sell Fuel N3 Cheaper Despite 30% Rise In Oil Prices – NNPCL

The Group Managing Director of the Nigeria National Petroleum Company Limited (NNPCL), Mele Kyari, has insisted that the downstream petroleum sector of Nigeria’s economy is fully deregulated, pointing out that this explains why oil marketers now compete among themselves to the extent

October 10, 2023

Concerns For Nigeria's Oil Market As Over 60 Million Barrels Remain Unsold

Business·Oil & Gas·World News

Hamas Attack On Israel, Rising Tensions Surge Oil Prices

Global crude oil prices have surged following the Hamas attack on Israel, resulting in a tragic loss of over a thousand lives on both sides. This incident follows a previous dip in oil prices due to concerns about high-interest rates and fluctuating

October 9, 2023

NNPCL Denies Inflating Fuel Subsidy Payments

News·Oil & Gas

NNPCL Denies ‘Northern Oil Cabal’ Claims, Affirms Transparency In Pipeline Contracts

The Nigerian National Petroleum Company Limited (NNPCL) has dismissed allegations of favoritism in awarding oil pipeline contracts, asserting that the process was transparent and adhered to international standards. Addressing the allegations, NNPCL’s management stated that media reports on that are false, and

October 9, 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 67

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

Nigeria’s Gas Industry In Crisis As Drilling Costs Skyrocket To $30m, Operators Warn

Oil Assets Divestments Will Boost Production, Employment – Wabote

Nigerian Regulator Upbeat As Seplat Speeds Up $1.3bn ExxonMobil Asset Purchase Deal

Nigerian Content Key To Meeting Renewed Hope Agenda – Petroleum Minister

Senate Demands Stiffer Punitive Measures As Nigeria Loses N2.3trn To Crude Oil Theft

NNPCL Lying To Nigerians, Country Will Burn Without Fuel Subsidy – Oil Marketers

OPEC Projects $14tn Investment Required To Satisfy Surging Oil Demand

Why Some Marketers Sell Fuel N3 Cheaper Despite 30% Rise In Oil Prices – NNPCL

Hamas Attack On Israel, Rising Tensions Surge Oil Prices

NNPCL Denies ‘Northern Oil Cabal’ Claims, Affirms Transparency In Pipeline Contracts

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Oil & Gas - Page 67

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