How oil price drops to $66.20 per barrel on IEA report By Udeme Akpan THE price of Bonny Light, which had risen to over $71 per barrel has dropped to $66.20 per barrel because of the negative International Energy Agency’s report. In the report obtained by The Daily, http://www.thedaily-ng.com, the IEA, stated that the market was still […]
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$1.5bn: Nigerians react as FG moves to rehabilitate PH Refinery By Eyo Nsima Many Nigerians have reacted as the Federal Government moves to rehabilitate the Port Harcourt Refinery, which has two plants at the cost of $1.5 billion. For instance, Prof. Omowumi Iledare, the Ghana National Petroleum Corporation (GNPC) Professorial Chair in Oil and Gas
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Total Nigeria PLC improves Road Safety through Truck Drivers’ Initiative Against the backdrop of serious concerns about the state of trucks and drivers conveying petroleum products on Nigerian roads, Total Nigeria PLC (TNPLC) has highlighted how its Truck Drivers’ Initiative is improving road safety in Nigeria with continuous training and audits. At a parley held
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DPR seals 2 filling stations in Lagos The Department of Petroleum Resources (DPR) on Wednesday sealed off two filling stations in Lagos for under dispensing of petrol. Mr Ayorinde Cardoso, Zonal Operations Controller, DPR, Lagos, confirmed the development after an inspection visit to eight filling stations located in Ikorodu Road, Oshodi-Apapa Expressway and Ikeja
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OPL 245: Milan court rules on sale of $1.3 bn oil field . As FG, Shell, Eni react By Eyo Nsima The Milan court, Italy, has acquitted Shell, Eni, and their officials of alleged corruption over the sale of Oil Prospecting License, OPL 245. In 2011, Shell, and Eni, were accused of
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The Minister Of State For Petroleum Resources, Chief Sylva Tmipre, Has Performed The Groundbreaking Of the Rungas Cylinder Plant. The facility alongside its sister plant – Rungas Prime in Polaku, Bayelsa State are being developed with equity investments by the Nigerian Content Development and Monitoring Board (NCDMB) and will on completion have a combined capacity
OPEC Daily Basket – March 15, 2021 OPEC daily basket price stood at $68.18 a barrel Monday, 15 March 2021, compared with $68.14 the previous Friday https://www.opec.org/opec_web/en/press_room/6291.htm
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We still need to recover N69.51bn, $5.31bn from oil industry operators- NEITI By Eyo Nsima The Nigeria Extractive Industries Transparency Initiative, NEITI, has expressed its determination to recover revenues amounting to N69.51 billion and $5.31 billion from oil and gas operators in Nigeria. The Executive Secretary, Nigeria Extractive Industries Transparency Initiative, NEITI, Dr. Orji Ogbonnaya Orji, who disclosed this during his maiden
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NNPC pledges support for fight against illicit drugs As a socially responsible entity, the Nigerian National Petroleum Corporation (NNPC) says it would do everything within its power to support the fight against drug trafficking in Nigeria. The Group Managing Director of NNPC, Mallam Mele Kyari,made the commitment Friday in Abuja during the visit of the
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AFRICA: Oil Exploration drops by 53.5% as Algeria, Libya, Nigeria emerge as the top three nations By Eyo Nsima There are indications that oil exploration has dropped in Africa by 53.5 per cent, as the Coronavirus pandemic continues to haunt the continent. According to data obtained from the March Oil Market Report of the
