More than 3,500 sq km of new PGS broadband reprocessed MultiClient data is now available in the West Niger Delta Basin, providing a clearer image of potential targets in blocks OPL 248, 249, 250, 2011, and OML 140. This newly reprocessed dataset targets the West Niger Delta Basin and covers two main structural provinces directly linked to the gravity-driven movement…

Mr Sarki Auwalu, Director, DPR made the disclosure during a visit of the Federal House of Representatives Committee on Petroleum Resources (Upstream) to the DPR headquarters in Lagos on Wednesday. The News Agency of Nigeria reports that the committee, chaired by Mr Musa Adar, visited the regulatory agency as part of its oversight duties. Auwalu…

Oil major, Shell Petroleum Development Company (SPDC) says it has grown its oil output to an average of 514,000 barrels per day (bpd). The company has also developed more capacity to produce more, the Chairman of Shell Companies in Nigeria (SCiN), Osagie Okunbor, has said. Okunbor pointed out that SPDC achieved the feat last year…

A modular refinery, located in Imo State, with the capacity of 5,000 barrels per day will commence operations in October, the Nigerian Content Development and Monitoring Board has said. The Federal Government, on Tuesday, applauded Waltersmith Petroman Oil Limited and the Nigerian Content Development and Monitoring Board for their effective partnership that led to the…

Further to the announcement of 3 August 2020, ADM Energy has announced that it has formally submitted a bid with the Nigerian Department of Petroleum Resources (‘DPR’) for a marginal field in the 2020 Marginal Field Bid Round. A total of 57 marginal fields are available to participating companies covering onshore, swamp and shallow offshore…

In a strategic effort to crash fuel prices and guarantee energy security, the Nigerian National Petroleum Corporation (NNPC) has carried out a detailed audit of the government’s ailing refineries and mobilised funds and technical resources to restore them to full operating capacity within the shortest possible time. The move has been applauded by industry experts…

Nigerian state oil company NNPC has extended for six months its contracts with private companies to swap crude oil for fuels, two sources familiar with the contracts told Reuters. The initial one-year contracts to exchange more than 300,000 barrels per day (bpd) with 15 company pairings were due to expire in October. The sources said…

Compliance with oil production cuts in August among OPEC+ members was seen at around 101%, two OPEC+ sources told Reuters on Wednesday. A technical committee of the alliance of the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, plans to hold a meeting later on Wednesday to discuss market fundamentals and…

The Federal Government has stated that its N250 billion intervention facility for the national gas expansion programme is targeted at making Compressed Natural Gas (CNG) the fuel of choice for transportation and Liquefied Petroleum Gas (LPG), domestic cooking, captive power and small industrial complexes. To this end, the Central Bank of Nigeria (CBN) has capped…