Oil

The Department of Petroleum Resources (DPR) says it generated a total sum of N742,471,639,376. 96 billion for the Federal Government from January to August 2020.

Oil prices rose on Monday as a tropical storm in the Gulf of Mexico prompted drillers to evacuate rigs and shut-in production.

Oil rose towards $46 a barrel on Wednesday, gaining for a third day, supported by a report that United States crude inventories fell.

Oil prices recovered on Tuesday, erasing overnight losses, as investors moved into risk assets and away from the safe-haven U.S. dollar, which tumbled to multi-year lows.

Angola plans to join the Extractive Industries Transparency Initiative (EITI), an international effort to fight corruption in revenues from oil, gas and mineral extraction.

The Defence Headquarters says the military in its operations in the South-South zone of the country has rescued 13 foreigners who were kidnapped in Lome waters.

Waltersmith Petroman Oil Ltd., a Nigerian independent producer, will open a 5,000-barrel a day capacity modular refinery next month in Africa’s top crude producer that imports all of its refined-product needs.

Managing Director, Total Exploration and Production Nigeria Limited, Mike Sangster, Tuesday, disclosed that passage of the Petroleum Industry Bill, PIB, would spur a new wave of investments by oil and gas companies in the Nigeria petroleum industry.

Just two years after becoming the first U.S. company to reach a $1 trillion market capitalization, Apple has officially doubled its value to $2 trillion. The remarkable feat means it’s tied with a non-tech firm for bragging rights as the world’s most valuable company — for now.

The Nigerian Army says it is collaborating with the Economic Financial and Crimes Commission (EFCC) in Port Harcourt to end attacks on oil and gas pipelines in Rivers.

Boko Haram terrorists on Monday invaded Magumeri Local Government Headquarters of Borno state and razed down the only functional Telecommunications Mast.

Gabon on Monday marks 60 years since it gained independence from France, and yet a glance around the capital Libreville begs the question whether it has ever made a clean break from the former colonial ruler.

The Department of Petroleum Resources (DPR) has promised to use its regulatory framework to continue to create opportunities and enable businesses in the oil and gas industry.

Management of climate change in post COVID-19 Nigeria was at the front burner as environmental experts from different parts of the world dialogued on policy options for Nigeria in developing low-carbon resilient climate.

Faced with dwindling oil revenue, which has threatened 2020 federal and state governments’ budgets, Chairman of the Revenue Mobilisation Allocation and Fiscal Commission, RMAFC, Engr Elias Mbam, has called for an end to gas flaring in the country.

This bolsters hopes that fuel demand in the world’s biggest economy can weather the coronavirus pandemic.

Governors of North East are advocating the use of heavy artillery for the Nigeria Police to bridge the manpower deficit in the armed forces. This was contained in an 11-point communique issued by the North-East Governors’ Forum at the end of its second meeting held in Maiduguri, Borno State.

Unending vandalisation of oil and gas assets and petroleum products theft continue to impact the country negatively, as the Nigerian National Petroleum Corporation, NNPC, weekend, disclosed that it spent N35.74 billion on pipeline repairs and management in five months, between January and May 2020.