Budget under threat as oil sinks to $54

The international oil benchmark, Brent crude, plummeted to its lowest level in more than a year on Monday, trading below the Federal Government’s benchmark for the 2020 budget, as the coronavirus outbreak... Read more »

Why major oil and gas projects go wrong

The underlying causes of disruptions and disputes could be moderated by improving contracts, audits and controls Oil and gas projects are complex, usually large-scale and involve integrating complicated supply chains and diverse... Read more »

Behind the hype, is Dangote’s refinery a game changer?

In December 2019, an ambitious refinery project in the remote Ibeju-Lekki suburb of Lagos, Nigeria, took delivery of the world’s largest single crude distillation column, to much fanfare. After years of hopes... Read more »

Lekoil obtains $184m loan for OPL 310

Jumoke Adelabu – Lagos Lekoil Plc says it has secured a $184m loan for the appraisal drilling and development programme of the OPL 310. The company said in a notice filed at... Read more »

IOCs delay $58.4bn oil, gas projects in Nigeria

Reports have shown that a number of oil and gas projects valued at $58.4bn are facing an uncertain future as international oil companies operating in the country have failed to sanction them... Read more »

NNPC, JVs finally seal $10bn NLNG Train-7 deal

Jumoke Adelabu – Abuja The Nigerian National Petroleum Corporation (NNPC) and its joint venture partners in the Nigeria Liquefied Natural Gas Limited on Friday took the Final Investment Decision on the commencement... Read more »

Sylva reiterates FG’s commitment to completion of Waltersmith Modular Refinery

The Minister of State for Petroleum Resources, Chief Timipre Sylva said the Federal Government would continue to support effort to ensure the take off of Waltersmith modular refinery by May 2020. Sylva... Read more »

Is South Africa heading to a gas-powered future?

The ambitious Integrated Resource Plan may struggle to convince investors and overcome vested interests. The reality could include a far greater dependence on gas than envisaged. The South African energy sector is... Read more »

Nigeria lost $1.35bn to oil theft in Q1 —Obaseki

By Oke Peter The Edo State Governor, Mr. Godwin Obaseki, has flayed the incessant oil theft in the Niger Delta, bemoaning the loss of about 22 million barrels of crude oil in... Read more »

Nigeria begins talks with oil majors to end $62bn dispute

Government claims it’s owed money as price of crude has risen Justice minister says possible settlement isn’t ‘out of sight’ The Federal Government of Nigeria began preliminary talks with international oil companies... Read more »