Oil and gas companies operating in Nigerian deepwater have invested over $21bn in the development of oil blocks under the Producing Sharing Contract (PSC), the Managing Director of Chevron Nigeria Limited, Mr. Andrew Fawthrop has said.
The Federal Government said it is willing to collaborate with the government of Uganda to develop its budding oil industry. Minister of state for Petroleum Odein Ajumogobia said the assistance will demonstrate Nigeria's commitment towards promoting the ideals and objectives of the New Partnership for Africa Development (NEPAD) and the African Union.
Senate Leader Teslim Folarin at the weekend in Ibadan spoke on the advantages of the planned oil sector deregulation, allaying the fears of Nigerians on the proposed deregulation.
Long queues of motorists waiting to buy fuel have resurfaced at filling stations around Abuja city centre.A check by our reporters showed that most major filling stations, including Conoil at Utako did not sell fuel to motorists' yesterday morning.
The Federal government has assured that the country would meet its aspiration to grow its oil reserve to 40billion barrels by next year.
The nation's daily oil production has slot up to 2.4 million barrels per day as against the less than 1 million per day before the amnesty.
The recent ban placed on roadside fuel hawkers by the Kano State government is receiving a 'humane' attention from relevant quarters, as a committee to review the ban has been established to come out with advice and modalities to handle the issue.
The Independent Petroleum Marketers Association of Nigeria has blamed the persistent scarcity of fuel being experienced nationwide on a cabal at the Nigerian National Petroleum Corporation, which it said is responsible for frustrating the supply system to its advantage.
British firm Solo Oil will spend $10.7 million to fund a buyout agreed upon with Aminex for a 12.5 per cent interest in the Likonde-1 well in Southern Tanzania.
For the first time in years, Nigeria's Niger Delta seems to be looking up.
Several normal Nigerians would have been totally crestfallen when they read on Tuesday the story of how the Venezuelan Ambassador to this country, at a moment of truth, brushed aside protocol to pass a vital message to Nigeria about how the country's failures in multiple dimensions is troubling the developing world.
Nigeria Has Been Urged to Gear Up for the Post oil era if the country wants to continue to remain relevant in the scheme of things globally.
TULLOW Oil, the company with whom Heritage shares two blocks in Uganda on a 50/50 basis, has stated that it has the right to buy its partner's interests.
Two hundred and sixty six projects worth over N10.2b will be commissioned by the Delta State Oil Producing Areas Development Commission (DESPOPADEC), the state's commissioner for Special Duties (DESPOPADEC), Mrs Orezi Osievo, has said.
KenolKobil Ltd has won the Kenyan government tender to deliver crude oil and diesel in the month of January 2010.
Tanzania has closed its offshore anchoring slots for tankers believed to be misusing the facility for dubious sale of oil on the high seas.
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has petitioned the Minister of Petroleum Resources over the proposed retrenchment of over 70 per cent Nigerian employees by management of Conocophillips Nigeria Limited.
A Nigerian oil vessel, christened "African Prince", has been jointly seized by the Ghanaian Air Force and Navy in Tema.
ISOKO Positive Agenda (IPA) has thrown its weight behind the Conference of Ethnic Nationalities of Niger Delta (CEEND) on its demand on the Federal Government to give explicit interpretation of the 10 percent equity for oil host communities.
Local authorities are endangering the lives of residents by failing to provide designated parking areas for fuel tankers. T
THE President of the National Union of Petroleum and Natural Gas (NUPENG) workers, Comrade Peter Akpatason, has called on the Federal Government to approach the controversial deregulation of the petroleum industry with caution.
Foreign exchange supply from autonomous sources most oil firms precipitated a 73 per cent fall in demand at the official market last week.
PETROCHEMICALS group Sasol was bracing itself for claims arising from its contraventions of competition laws, CE Pat Davies said on Friday.
Holidaymakers who will be driving to their destinations might be disappointed about a 27 cent fuel increase expected ahead of the festive season.
According to oil marketers, the Kenyan refinery is holding some 300, 000 tonnes of crude belonging to marketers.
