Oil & Gas

By Eyo Nsima Nigeria’s oil output dropped month-on-month, MoM, by 2 per cent to 1.517 million barrels per day, bpd in March 2023, from 1.547 million bpd recorded in February 2023. The output had risen by 3.5 percent in February 2023 to 1.54 million bpd, from 1.494 million barrels per day recorded in January, thus […]

By Eyo Nsima The NNPC Ltd said it has received with great relief, the resolution of the House of Representatives to investigate the allegation of the payment of a huge sum of twenty billion naira to so-called “ghost consultants.” In a statement obtained by The Daily, www.thedaily-ng.com, the company, stated: “NNPC Ltd had earlier refuted

The Seplat Energy JV supports Entrepreneurship Fellowship Programme, which aims at developing participants’ leadership skills, social entrepreneurship, and business management abilities, through customized and targeted capacity building workshops. In addition, the beneficiaries’ ability to action their ideas is supported through equipment funding and mentoring. On April 3, the company held a special event to celebrate

By Eyo Nsima The Nigeria-based Petroleum Technology Association of Nigeria, PETAN, has unfolded its programme at the Offshore Petroleum Technology, OTC, holding in Houston, Texas, USA, from May 1 – 4, 2023.   According to PETAN, the event has ‘Energy Transition and AfCFTA: Key Reforms for Sustainable Development of the African Oil and Gas Industry’

OIL MARKET FORECAST: Will OPEC’s 1.16 million oil cut shoot prices to $100 per barrel? By Our Correspondent Since the Organisation of Petroleum Exporting Countries, and allies, popularly known as OPEC+ announced its 1.16 million oil cut, the oil market has not been the same again. The bullish state of the oil market, partly driven

By Eyo Nsima Crude oil inventories have dropped by 4.346 million barrels, according to the American Petroleum Institute (API) data, thus sustaining the continued surge in prices. The API data obtained by The Daily, www.thedaily-ng.com, indicated that U.S. crude oil production fell to 12.2 million bpd for week ending March 24, 2023. But the major

By Eyo Nsima A former board member of Seplat Energy, Arumah Otei, yesterday, canvassed support for Small and Medium Scale Enterprises, SMEs in Nigeria. Speaking in Abuja at Seplat Energy global entrepreneurship programme, she pointed out that SMEs contribute about 70 percent of gross domestic product of many nations. She said: “Nigerians don’t want handouts.

By Eyo Nsima Oil prices have risen to more than $80 per barrel as OPEC+ announced a surprise production cut of about 1.16 million barrels per day. This has further increased the total OPEC+ cut to 3.66 million bpd in the past few months. Consequently, the prices of many crudes, including Brent and Nigeria’s Bonny

Women in Energy Network (WIEN) has demanded the incoming administration of the federal government to prioritize policies and programmes that dismantle prevailing gender bias and discrimination in the energy sector as a reliable way to harness the full human potentials in accelerating national development. WIEN which provides aegis for female investors, business owners, professionals and

The Federal Government of Nigeria has approved a 7-year contract extension for Brevity Anderson Consortium as conference producers and organizers of the Nigeria International Energy Summit (N.I.E.S) formerly known as Nigeria International Petroleum Summit (N.I.P.S) following a Federal Executive Council review and approval. “The Honourable Minister of Petroleum Resources presented a memo to FEC for