Author: Charles Ayoka

The Nigerian Petroleum Development Company (NPDC) Limited, a subsidiary of the Nigerian National Petroleum Corporation (NNPC), announced that it is set to commence oil exploration in Ogoniland, the oil-producing region that has been the hotspot for environmental degradation due to exploration activities over the years. This was disclosed by the Managing Director of the company, […]

Despite boasting of a 206 trillion standard cubic feet of gas reserves and topping major countries, Nigeria’s per capita consumption of gas is the lowest in the sub-Saharan African region, Ministers of State for Petroleum Resources, Timipre Sylvia has said. He stated this at the 2021 yearly sub-Saharan African Oil and Gas Conference tagged” The […]

The Nigerian National Petroleum Corporation, NNPC, is working with investors for the establishment of new 250,000 barrels per stream day refineries. NNPC’s Group General Manager, Greenfield Refineries and Project Division, GRPD, and Managing Director of the NNPC Greenfield Refinery Limited, NGRL, Engr. Bege Talson, disclosed this at the inauguration of the board of the company […]

Unlike Nigeria that has failed to grow its oil reserves nor exploit same, new kids on the block – Guyana, Suriname, and Ghana, say they have no plans to let their newly discovered oil wealth go to waste by joining global decarbonization efforts. Nigeria, according to data from the Department of Petroleum Resources (DPR), holds […]

The Niger Delta Congress, NDC, has vowed to take legal action against the Royal Dutch Shell, should her subsidiaries in Nigeria failed to fix the environmental carnage it has created in the Niger Delta region, before her planned divestment of its onshore assets. Recall that the Chief Executive Officer of the Royal Dutch Shell – […]

The Nigerian National Petroleum Corporation, NNPC, has said the environment will be a top priority as its upstream arm – the Nigerian Petroleum Development Company, NPDC – resumes operations at Oil Mining License, OML, 11. This follows the recent Appeal Court ruling, handing over the asset from the Shell Petroleum Development Company, SPDC, to the […]

Oil prices jumped 3% on Monday, recovering from a seven-day losing streak, with gains driven by a weaker dollar despite demand concerns stoked by rising cases of the Delta coronavirus variant. Brent crude climbed $2.17, or 3.2%, to $67.35 a barrel by 0901 GMT after touching its lowest since May 21 at $64.60. U.S. West […]

The price of OPEC basket of thirteen crudes stood at $66.13 a barrel on Friday, compared with $66.08 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic […]

Rivers State Governor, Nyesom Wike, has said that with the passing and signing of the Petroleum Industry Bill into law, remittances of the Nigerian National Petroleum Corporation to federation account, will now become less. Governor Wike speaking at the Government House, Port Harcourt, shortly after signing into law the Valued Added Tax Law No. 4 […]

The Ijaw Youth Council has rejected the Petroleum Industry Bill signed into law by President Muhammadu Buhari, describing the new Act as an affront on the people of the Niger Delta region. IYC said the assent of President Buhari to the Bill, was an insult to the region who hitherto rejected the 3percent earmarked as […]