Gas flare penalty increased to US$2 per 1000 scf
The Nigerian government have increased gas flare penalty from N10 to $2 or N612.8 per thousand standard cubic feet (scf) of gas.
This penalty applies to any firm that produces 10,000 barrels of oil per day and above. For firms producing … Read More
Shell, Vitol and Glencore battle to buy Petrobras Africa.
Three of the world’s largest oil traders are competing to buy assets of the African arm of Brazil’s petroleum corporation Petroleo Brasileiro SA (Petrobras).
The three companies competing to buy the Petrobras Nigerian assets include; Shell, Vitol and Glencore. Petrobas Oil … Read More
Ongoing agreement for the new refinery between Republic of Niger and Katsina state, Nigeria.
Plans for a new refinery in Nigeria and the neighboring Niger Republic has been set in place. The agreement for the design and construction of the refinery has been discussed by Ibe Kachikwu, Nigeria’s minister of … Read More
Ruwase warns about policy framework for the petroleum downstream segment of the oil and gas industry.
The President, Lagos Chamber of commerce and Industry Mr Babatunde Ruwase expressed the need to look into the policy framework for the petroleum downstream segment of the oil and gas industry.
In a … Read More