08/17/2016

Weak Nigerian demand drives oil tanker rates to 14-year low

The cost of sending crude oil cargoes from West Africa to Northwest Europe on Suezmaxes has dropped to the lowest level in over 14 years, Platts data has shown.
08/17/2016

NNPC, Benue Renew Ethanol Partnership Project

The Nigerian National Petroleum Corporation (NNPC) and the Benue State Government (BNSG) have pledged to deepen their collaboration on the Ethanol project which is geared towards production of biofuels for energy sufficiency.
08/17/2016

Calabar Port bleeds from N1.67b debts

With a debts profile in excess of N1.17 billion from the Calabar Port alone, the Managing Director, Nigerian Ports Authority (NPA), Hadiza Bala Usman, has vowed to block all revenue leakages in the company, while also pursuing huge debtors includi
08/17/2016

FX scarcity: Nigerian Ports Witness 50% Drop in Cargo Volume

Checks at the Ports and Cargo Handling Services Ltd’s terminal at the Tin Can Island Port complex in Lagos revealed that container inflow at the six seaports has dropped by 10 per cent, while general cargo volume dropped by 50 per cent in the firs

08/16/2016

Militancy: Nigeria Requires Extra 900,000b/d to Recover from Losses

The Minister of State for Petroleum, Dr.
08/16/2016

IPMAN and NIMEX Sign MOU on Fuel Imports

As part of the efforts to ensure that the current high cost of foreign exchange does not plunge the country into fuel crisis, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has entered into strategic partnership with NIMEX Petr
08/16/2016

Demonstration against Chevron in Nigeria’s Delta widens

 Protesters blocked the gate to offices of U.S. oil company Chevron in Nigeria's Niger Delta on Monday, widening a week-long demonstration to demand jobs and housing, a protest organizer and a community leader said.

08/16/2016

Shell Announces Force Majeure on Gas Supply in Nigeria

Integrated energy major, Royal Dutch Shell plc. announced a force majeure on gas supplies destined for the liquefied natural gas plant in Nigeria following a leak on the Eastern Gas Gathering System pipeline.
08/15/2016

Shell Nigeria declares force majeure on Bonny Light

Shell's Nigerian unit has declared force majeure for Bonny Light crude oil liftings due to a shutdown of a Niger Delta pipeline following a leak, a statement said on Friday.
08/15/2016

Government to unveil three new PIBs

The Presidency will present to the National Assembly three harmonised bills from the omnibus Petroleum Industry Bill (PIB), the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has disclosed.