The Federal Government on Wednesday said it was willing to resume oil exploration in the Lake Chad Basin. The exercise was suspended by the government in July 2017 after suspected members of Boko Haram attacked a team of geological engineers from the University of Maiduguri who were engaged by Nigeria National Petroleum Corporation to carry…

Chevron Nigeria Limited (CNL), operator of the joint venture between the Nigerian National Petroleum Corporation (NNPC) and CNL (the NNPC/CNL JV), has appointed Mr. Richard Kennedy as Chairman and Managing Director, starting November 1, 2020. Until his appointment, Mr. Kennedy was Director, Deepwater and Production Sharing Contracts at CNL. A statement by the General Manager,…

Dangote Group has announced that refined petroleum products from its 650,000 per day refinery under construction will hit the market by the last quarter of next year. Also, products from its completed fertiliser plant will be in the market this month. The Executive Director, Strategy, Capital Projects and Portfolio Development, Dangote Group, Mr. Devakumar Edwin,…

Merchant ship was attacked in Gulf of Guinea at around 0600 UTC Nov 4 some 120 nm south of Bonny Nigeria. Understood it’s product tanker NEFELI II (IMO 9291638, dwt 9999), en route from Lagos to Douala Cameroon. The ship stopped at roughly the same time and position attack occurred, and as of 0700 UTC…

Oil prices rose nearly 3% on Wednesday after President Donald Trump falsely claimed victory in a tight U.S. election with millions of votes still to be counted and the final result not yet clear. A victory by Trump is viewed as bullish for oil because of sanctions on Iran and his support for Saudi-led OPEC…

The Nigerian Petroleum Development Company (NPDC), an upstream subsidiary of the Nigerian National Petroleum Corporation (NNPC), has reported an explosion at a production facility in Oil Mining Lease (OML) 40. The corporation disclosed this in a statement signed by its spokesman Dr Kennie Obateru on Tuesday in Abuja. Obateru said the OML 40 was being…

LEKOIL (AIM: LEK), the oil and gas exploration and production company with a focus on Nigeria and Africa, today announces that it has entered into a Strategic Alliance Agreement (“SAA”) with NAMCOR Exploration and Production (PTY) Limited (“NAMCOR E&P”) through its subsidiary, LEKOIL Exploration & Production (PTY) Namibia Limited (“LEKOIL Namibia” or the “Subsidiary”). NAMCOR…

The Nigerian National Petroleum Corporation (NNPC) yesterday attributed the prolonged neglect of overhauling the refineries in the country to the delay in making them functional. It declared the refineries as damaged beyond the usual Turnaround Maintenance (TAM). However, to revamp them, the national oil is embarking upon total rehabilitation of the plants, which despite currently…

Shell today announced a cash allocation framework that will enable it to reduce debt, increase distributions to shareholders, and allow for disciplined growth as it reshapes its business for the future of energy. Ongoing work to reshape Shell’s portfolio is expected to deliver continued cash generation to grow its low-carbon businesses as well as to…