Oil jumps at three week ahead of OPEC output decision

Oil prices surged 4 percent to a three-week high on Monday, bolstered by growing conviction that major oil producing countries would agree next week...

NEC endorses new JV funding structure for oil industry, drops cash calls

The National Economic Council (NEC) on Thursday endorsed the approved proposal for the changing of the Joint Venture (JV) funding regime for the oil...

OPEC reopens talks on oil cuts without Iran, Iraq ministers.

OPEC and Russia will meet in Doha on Thursday for another round of talks without ministers from Iran and Iraq, the two countries that...

NNPC sets to grow oil reserves

The Nigerian National Petroleum Corporation (NNPC) is set to grow the nation’s oil and gas reserves, the Group Managing Director, Dr. Maikanti Baru, has...
Gas policy

FG, World Bank sign risk guarantee agreement for $500m Calabar gas plant

The Federal Government and the World Bank on Thursday signed a Partial Risk Guarantee (PRG) agreement for the supply of gas to the $500...

Nigeria, Niger strengthen collaboration on Chad Basin, Benue Trough exploratory activities

The Nigerian National Petroleum Corporation (NNPC) is to collaborate with the Republic of Niger in the area of sharing of geological data to further...

Oil leak from Agip’s field pollutes Otuokpoti community in Bayelsa

Residents of Ekole Creek in Bayelsa, on Wednesday reported a massive oil leak from an oil field operated by Nigeria Agip Oil Company (NAOC)...

NNPC seeks $51bn investment in gas sector

The Nigerian National Petroleum Corporation (NNPC) has said about $51 billion investment opportunities exist today in the midstream and downstream gas sector to achieve...

OPEC oil output hits new record on Nigeria, Libya–Reuters survey

OPEC's oil output is likely to set another record high in October, a Reuters survey found on Monday, as Nigerian and Libyan output partially...
Ibe Kachikwu

Corruption in oil industry overblown – Kachikwu

 The Minister of State for Petroleum Resources, Dr  Ibe Kachikwu, said corruption in the oil and gas industry was overblown. Kachikwu said this in Abuja...
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