Oil & Gas
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New Oil Discovery in Nassarawa
The Group CEO of NNPC Ltd, Mele Kyari, announced it is set to spud -in the first oil well in…
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Nigeria’s Crude Oil Production Climbs as Debt Stock Rises and NLNG Gas Supply Buckles
Nigeria Records a Seven-Month High in Crude Oil Production In line with analysts’ prognosis, the latest oil production data released…
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Nigeria’s Oil Production of 1.6mb/d Dependent on Curbing of Oil Theft
The Chief Upstream Investment Officer, NNPC Upstream Investment Management Services (NUIMS), Bala Wunti, has disclosed that Nigeria’s crude oil production…
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Gulf Countries Should Maintain Reform Momentum, Despite Oil Boom
GDP growth for Gulf Cooperation Council (GCC) countries—Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE—is expected to more than…
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Excess Crude Account (ECA) Rises to $476,513
Nigeria’s Excess Crude Account (ECA) balance rose to $472,513.64 as of November 2022. While Distributable VAT seems to be supporting…
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Buhari Kick-starts Oil Drilling in North as $3bn Kolmani River Oil Wells Take Off
Prominent Nigerians, including President Muhammadu Buhari, a retinue of governors from the northern region, ministers, the presidential candidate of the…
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Nigeria’s Crude Oil Production Drops Further to 0.938mbpd in September 2022
The Nigerian 2022 fiscal budget has continued to suffer setbacks from crude oil production shortfalls as production contracted further to…
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Oil falls as China widens COVID-19 curbs; still set for weekly gain
– Oil prices fell on Friday after China, the world’s top crude oil importer, widened its COVID-19 curbs, but were…
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Seplat Energy Plc Reports N33.86bn PAT in Q3’22 Results, Proposes $2.5cents Interim Dividend; (SP: N1200.00k)
Key Highlights Revenue grew by 41.6% from N182.68bn to N258.72bn.Profit before tax stood at N77.47bnProfit after tax stood at N33.86bnShare…
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Oil steadies amid fears over Chinese demand, record U.S. exports
Storage tanks are seen at the Petroineos Ineos petrol refinery in Lavera, France, March 29, 2022. REUTERS/Benoit Tessier Summary Dollar…
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