Category: Oil and Gas

Oil demand rises as gas prices surge

Global oil demand will rise more than previously forecast this year as heatwaves and soaring...

Buhari makes a U-turn over Seplat, ExxonMobil $1.3bn deal

The President, Major General Muhammadu Buhari (retd.) in alignment with the Nigerian National Petroleum Company...

Marketers hint at fresh fuel scarcity in Abuja

The Federal Capital Territory residents might experience a fresh round of fuel scarcity as tankers...

Subsidy probe: 23 oil firms operating in Nigeria unknown, say Reps

The profiles of 23 oil and gas companies trading in Nigeria are unknown, the House...

Oil firm shut over unapproved offshore operations

THE Federal Government has shut down Scorpion Oil Services for carrying out offshore operations without...

Subsidy cost spikes by 370% amid rising debt

The cost of fuel subsidy is estimated to increase by 369.93 per cent from 2021...

NNPC denies issuing directive on fresh petrol price

The Nigerian National Petroleum Company Limited has denied issuing the directive on the new price...

NNPC becomes commercial entity amid fuel scarcity

The President, Major General Muhammadu Buhari (retd.) officially unveiled the new brand of the Nigerian...

Gas flaring: Oil companies oppose FG’s penalties

The federal government’s enforcement of penalties for gas flaring as contained in the Petroleum Industry...

NGF says subsidy’ll affect payment of salaries

The Nigeria Governors’ Forum has said that rising subsidies on petroleum products now place a...

Gas consumption to decline over Russia, Ukraine war – Report

Gas consumption will contract slightly this year due to high prices and Russian cuts to...

Nigeria’s crude oil output drops below expectation – Report

A financial service company, Vetiva, has decried that Nigeria’s crude oil output has fallen below...