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Nigeria loses N149bn to one-day oil workers strike

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Nigeria may have lost about N148.8bn in oil revenue on Monday as a result of the industrial action embarked upon by the Organised Labour...

Russian Oil Finds New Site for Controversial Cargo Switching

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Under pressure from Greece’s navy, traders of Russian oil have found a new place to switch cargoes of crude in the Mediterranean sea, a...

South African court throws Shell a lifeline in exploration dispute

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Shell has lost a South African court appeal that was attempting to overturn a previous judgment blocking offshore oil exploration on the Wild Coast, in...

Sinopec secures $1.1bn gas pipeline contract from Aramco

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Sinopec Oilfield Service, a unit of Chinese oil company Sinopec, has received a 7.95bn yuan ($1.1bn) contract with Saudi Aramco to construct natural gas pipelines...

Low oil production threatening our ability to achieve 2024 budget revenue — FG

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The Federal government has decried the impact of lower crude oil production volumes on its revenues and ability to achieve the N19 trillion revenue...

Nigeria’s current trade balance rises to $1.43bn amid economic challenges

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Nigeria’s current account balance has increased to $1.432 billion in 2024 despite the economic downturn ravaging the country, data from the International Monetary Fund’s World Economic...

Modular refineries set sights on US crude to fill supply gap

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Modular refineries in Nigeria are seeking a consistent supply of crude oil from the United States to address a supply gap, according to BusinessDay...

China Speeds Up Grid Projects to Keep Up with Renewables Boom

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China is ramping up investments in grid infrastructure to keep pace with a record-setting boom in renewables that has put the electricity network under...

TotalEnergies, Staatsolie Move Towards FID for Suriname Block

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TotalEnergies and Staatsolie Maatschappij Suriname N.V, the Suriname national oil company, said they have taken “several significant steps” towards a final investment decision (FID)...

RESCUE PLAN IN THE OIL AND GAS SECTOR

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Undeniably, the oil and gas industry holds the key, at least in the short term, to Nigeria’s prosperity. The imperative to get Nigeria’s natural,...

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