Top Stories

by Ben Ndubuwa……..,. African business leaders have kicked against any move to shift the African Continental Free Trade Agreement (AfCTA) deadline. They called on African Heads of government not to shift ground on the proposed July 1, for the AfCFTA to come into force. As the Head of the African Union (AU) ministerial meeting takes place on the 5-6th of ...

by Abisoye Shola…….,.. Shell is set to reduce the volume of it's crude oil export for next Month. The company is to export 190,000 barrel per day of Bonny light in June as against 245,0000 barrel for the Month of May. This reduction is attributed to lack of demand and the agreement by OPEC+ members to cut down production. The ...

Bristow Group Incorporation one of the world’s leading provider of offshore oil and gas transportation has mergered with Era one of the largest helicopter operators in the world and the longest serving helicopter transport operator in the U.S. In addition to servicing its U.S. customers, Era provides helicopters and related services to customers and third-party helicopter operators in other countries, ...

by James Ikenna………. Sierra Leone has provisionally awarded nine oil blocks to Innoson Oil and Gas, a subsidary of the Nigerian-based IVM Innoson Group pupolarly known as Innoson Motors. Sierra Leone also awarded 15 offshore blocks to Cluff Energy Africa, a joint venture between British oil tycoon Algy Cluff and billionaire Michael Spencer These awards is coming amid a sharp ...

More than 1,000 graduate trainees recently recruited by the Nigerian National Petroleum Corporation (NNPC) are to assume duty Monday 4 May, 2020, a release by the corporation’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, has stated. The trainees are to assume duty first, virtually while the corporation monitors the COVID -19 situation and the Federal Government’s directives ...

The Department of Petroleum Resources (DPR) has donated Personal Protective Equipments(PPE) to Lagos State Government to support its efforts in the management of the Corona virus pandemic in the state. TT The items donated include 1000 units of face mask, 1000 units of protective boots, 1000 units of coverall protective gowns, 1000 units of hand gloves, 1000 units of disposable ...

by Abisoye Shola..,……. International Monetary Fund (IMF) has said that Nigeria’s oil and gas exports will dwindle by at least $26.5 billion as result of the coronavirus pandemic battering crude oil prices worldwide. IMF explained that in a letter written by Nigeria requesting emergency financial assistance, the country blamed the drop in oil prices, and the economic shocks related to ...

by Jenifer Dike….., Seplat Petroleum, one of the Nigerian leading independent oil and natural gas producer, quoted in both Nigeria and London Stock Exchange has blamed it’s poor revenue outing in the first quarter of 2020 on stock build at the terminal (underlift) and low oil price occasioned by the coronavirus pandemic. According to Seplat three months unaudited financial report ...

by Ayo Folaolu…. The International Labour Organisation (ILO) has predicted that half of the world work force about 1.6 billion people may lose their sources of livelihood because of the coronavirus pandemic that brought about lockdown in major economic cities worldwide. “Half of the world’s economically active population, 1.6 billion workers in the informal sector, could lose their sources of ...

By Ben Ndubuwa….. There were strong indications that Oil prices showed slight increase yesterday as Nigeria Brent crude inched up by 4.6 percent to $21.39 per Barrel reversing some of the losses posted previously after storage in the United States rose less than expected. Brent Crude, the benchmark for Nigeria’s oil grades, went up by 4.6 percent about 93 cents ...