Category Archives: Oil&Gas

We contributed $29bn to Nigeria in four years – Shell

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Shell Petroleum Development Company has said that its economic contribution to the Nigerian government in four years is $29bn. The company’s General Manager, External Relations, Mr. Igo Weli, made this known in Yenagoa, the Bayelsa State capital, during the 2017 Swamp West Hub Integrated Stakeholders Engagement Forum for Tarakiri/Egbema/Oporoma Community Leadership. Weli , represented by […]

Shell Nigeria lifts force majeure on Bonny Light crude

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Shell Petroleum Development Company of Nigeria Limited, a subsidiary of Royal Dutch Shell, has lifted force majeure on the exports of Bonny Light crude oil, one month after it was declared. A spokesperson for Shell said the force majeure was lifted on Thursday. Reuters reported that Shell declared the force majeure last month following the shutdown […]

OPEC: Nigeria fails to provide oil output figure

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Nigeria failed to supply its crude oil production figure for last month to the Organisation of Petroleum Exporting Countries, the group’s latest monthly report released on Wednesday showed. Nigeria regained the Africa’s top oil producer status in May after it lost it to Angola in January as it recorded the biggest increase in output among […]

Kachikwu, Baru meet, agree on NNPC without political interference

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The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu; and Group Managing Director, Nigerian National Petroleum Corporation, Dr. Maikanti Baru, met on Tuesday for the first since their disagreement broke out and agreed on one thing – a petroleum industry regulator free from the vagaries of politics. The two industry leaders met at a […]

Oil workers’ planned strike could cost Nigeria N150bn daily – LCCI

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The Lagos Chamber of Commerce and Industry has estimated that Nigeria will lose about N150bn daily if the National Union of Petroleum and Natural Gas Workers and the Petroleum and Natural Gas Workers Senior Staff Association of Nigeria should embark on a nationwide strike. Both PENGASSAN and NUPENG had recently vowed to go on a […]

TEF to empower 1,000 African entrepreneurs in Lagos

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The Tony Elumelu Foundation has said over 1,000 African entrepreneurs will converge on Lagos this month for this year’s edition of its entrepreneurship programme aimed at empowering the next generation of African business leaders. The TEF, in a statement on Wednesday, described the third annual TEF Entrepreneurship Forum as the most diverse annual gathering of […]

Kachikwu’s leaked memo rekindles scandal around NNPC

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A leaked memo from Nigeria’s minister of state for Petroleum Resources has shown that irregularities in the state-owned oil giant remain entrenched, despite official vows to root out the “cancer” of graft. Emmanuel Ibe Kachikwu wrote to President Muhammadu Buhari to report on questionable practices in the state-owned Nigerian National Petroleum Corporation. Five NNPC contracts, […]