The difficulty in sourcing or accessing foreign exchange by Independent Marketers to enable the importation of Petroleum Motor Spirit in Nigeria is tending towards emergence of the product scarcity in the various service stations across the country. This eminent ugly trend is coming almost in same period when the Nigerian National Petroleum Company Limited has […]

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has identified the effective implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010 as one of the key levers for actualizing the Renewed Hope Agenda of President Bola Tinubu’s administration. Speaking during his tour of NCDMB facilities and projects in […]

The CEO of Eni Claudio Descalzi has met the Minister of Energy and Mines of Algeria, Mohamed Arkab, and the newly appointed CEO of SONATRACH, Rachid Hachichi, in Algiers, to discuss gas production and export, investments in the country and energy transition initiatives. Eni and SONATRACH shared the joint programs for the development of Eni’s operated gas […]

The ongoing and planned divestments of onshore assets by some international operating oil and gas companies (IOCs) and subsequent acquisition by Nigerian operating companies must not be allowed to impact negatively on the level of compliance with the Nigerian Oil and Gas Industry Content Development (NOGICD) Act and remittance of tax revenues to the Federal […]

QatarEnergy has been awarded a new exploration block offshore the Arab Republic of Egypt as part of the 2022 EGAS International Bid Round. The results of the competitive bid process were announced by Egypt’s Ministry of Petroleum and Mineral Resources, awarding exploration and production rights for block EGY-MED-E8 (East Port Said) to a consortium comprising […]

Predator Oil & Gas has opened exploratory discussions with a group focused on the downstream energy business to potentially sell its share of gas produced at the well head subject to an approved CNG development plan. In order to accelerate the timing of substantive negotiations for the sale of its share of gas, subject to […]

Altera Infrastructure has been awarded contracts for redeployment of the FPSO Voyageur Spirit and the shuttle tanker Nordic Brasilia for the Baleine Phase 2 project, located offshore Côte d’Ivoire. The vessels are set for deployment on the Baleine field with a 15-year firm contract. The development of the project will be on a fast-track schedule with […]

Uganda National Oil Company (UNOC) is in advanced talks with Chinese export credit agency SINOSURE to provide credit for its crude oil pipeline after pressure from environmentalists forced some Western banks to recoil from the project, a top official said on Monday; Reuters has reported. The projects for the development of the oil and gas […]

Shelf Drilling said that it has secured contracts for the Adriatic I and the Shelf Drilling Mentor jack-up rigs foroperations offshore Nigeria for firm durations of 16 months and 8 months, respectively. The combined estimated contract value for the two rigs is approximately USD 93 million, excluding revenues for mobilization and demobilization.  Both rigs completed […]

PetroNor E&P has increased its investment portfolio in Nigeria oil and gas sector by new venture  into a binding agreement with New Age (African Global Energy) to acquire New Age’s interests in OML 113 in Nigeria which contains the Aje Field. This acquisition not only strengthens the company’s position in OML 113 but also opens […]