Oil & Gas

The nation’s refineries lost a total of N152.08bn in 15 consecutive months of being idle, the latest data from the Nigerian National Petroleum Corporation have shown. Analysis of data collated from NNPC monthly reports revealed that all the refineries did not refine crude oil from July 2019 to September 2020. ...

Acquires 45% of OML 17 from Shell, Total and ENI Existing Production Capacity of 27,000 barrels of oil equivalent per day Estimated 2P Reserves of 1.2 billion barrels of oil equivalent Estimated Additional 1 billion barrels of oil equivalent of further exploration potential Heirs Holdings (“HH”), the leading African strategic investor, ...

The allegation by a former director of Ocean Marine Solutions (OMS) Limited, Mr Tunde John Ayeni, that the company was hijacked by Captain Hosa Okunbo has been contradicted by a series of validly-executed company resolutions and other documents was obtained by our reporter which he (Ayeni) signed, transferring his shares ...

Dux Oil, a cosmopolitan oil and gas concern last weekend dedicated its Oyo State gas station. The outlet, which boasts of modern day facilities with conscious safety measures is located on the ever busy Ibadan – Ife road, Ibadan, Oyo State,with a branch at Challenge also in Ibadan. It was ...

Our attention has been drawn to a malicious and spurious publication by a one-man blog (nurajos.blogspot.com) on alleged schism in the board of OMSL over alleged mismanagement of $18m (Eighteen million dollars). In the said write-up, the faceless hack mischievously alleged that our chairman, Capt Idahosa Wells Okunbo, had taken ...

The Senate has cleared Ocean Marine Solution Limited (OMSL) of allegations of illegal security activities at the Secure Anchorage Area (SAA) of the Lagos Ports. The Senate resolution to that effect was passed on Wednesday, December 18, 2019 consequent upon the consideration of the report on the investigation into the ...

One of the top shots at the Nigerian National Petroleum Corporation-NNPC, Josiah Adediran Ikusemoro must have bitten more than he can chew if information at our disposal is anything to go by. The man who’s presently running from pillar to post over his messy divorce case with his wife of ...

International oil companies and their local counterparts under the aegis of the Oil Producers Trade Section have said the Federal Government’s planned increase in deepwater royalty will worsen Nigeria’s competitiveness and make its $15bn planned deepwater investments economically unviable. The OPTS, a private industry group under the umbrella of the ...

The Nigerian government has vowed to recover over $62 billion it claims as arrears of profits due it from 1998 under the production sharing contracts (PSCs) between the Nigerian National Petroleum Corporation (NNPC) and its joint venture partners. The international oil companies have taken the matter before the Federal High ...