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Oil & Gas
Five things we learnt from Seplat’s 2020 financial report
Seplat Petroleum Development Company, Nigeria’s largest listed oil and gas firm by market value has released its result for the year ended December 31, 2020.
The following highlights from…
Energy sector takes a toll from lockdown
When the first case of COVID-19 was reported in Nigeria, February, Jude Emelike was providing support services to vendors at an oil rig in Eket, Akwa Ibom State.
The next month, March,…
NNPC rules out petrol price increase in March, cautions against panic buying
The Nigerian National Petroleum Corporation (NNPC) has advised motorists to stop panic buying of Premium Motor Spirit (PMS) also known as petrol saying it has no plan to increase the…
Lockdown throws energy sector into chaos
When the first case of COVID-19 was reported in Nigeria, February, Jude Emelike was providing support services to vendors at an oilrig in Eket, Akwa Ibom State.
The next month, March,…
The problem with petrol price control
The greatest argument against price control is that it leads to a distortion of the market. Yet, more often than not, we forget that like crack cocaine, we cannot easily wean off it.…
Nigeria’s oil revenue threatened as OPEC+ mulls production raise at March meeting
Nigeria’s chances of meeting its projected oil revenue target of N2 trillion to fund its 2021 budget is under threat with the Organisation of Petroleum Exporting Countries (OPEC) discussing…
NNPC says it loses 200,000 barrels of oil daily to thieves, seeks military’s help
The Nigerian National Petroleum Corporation, (NNPC) has said it loses 200,000 barrels of crude oil daily to theft and vandalism and is calling for the military to protect oil and gas assets.…
Nigeria can generate $18.3bn yearly from domestic gas utilisation – PwC
With the uncertainty trailing oil exports and revenue due to the lingering impact of the coronavirus pandemic, PricewaterhouseCoopers (PwC) has estimated Nigeria can rake in $18.3 billion…
NNPC 2021 projects at risk from climate goals, lower oil price – NRGI
A new report by Natural Resource Governance Institute (NRGI) has identified huge economic losses that may be encountered by the Nigerian National Petroleum Corporation (NNPC) as the world…
Oil surges near $67 a barrel as traders say price could top $80
Brent Oil jumped towards $67 a barrel Tuesday with investment banks and traders predicting the market will tighten further and push prices higher.
Futures in New York jumped 1.6% on…