Forte oil plan to focus on downstream business: The oil company plans to sell its upstream service and power business in Nigeria and Ghana with a focus on its core fuel distribution in Nigeria. The oil firm believes the Nigeria downstream market has a huge potential to focus on ...

DPR approves construction of LPG extraction plant The federal government gave approval to Green Energy International limited, a company who operate OML 11 in the Niger Delta to commence construction. The plant's capacity is 12million scfpd. Forcados ramps up after brief shutdown There was low injection into the Forcados terminal ...

Nigeria to cut sulfur content in imported fuels: This is coming after a year deadline by UN. The government is likely to bear much of the initial costs for a cleaner specification due to capped price by NNPC as the sole the sole importer. The purpose is to eliminate significant ...

NNPC announces Investors to revamp refineries The investors have been grouped and would be paid via the offtake of refined products rather than cash, to ensure they do a proper work and keep them running smoothly to ensure their investments earn returns. The move is aimed at helping Nigeria save ...

Oando Makes a peaceful deal with shareholders A key shareholder in the embattled Oando Plc, has withdrawn his petition to the SEC, following a ‘peace deal’ with the Oando. The decision put in doubt the possibility of a proposed forensic audit of the company going forward. Oil and gas to ...

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Fuel queues resurfaces There were reports of long fuel queues at fuels stations outside Lagos, in Abuja there were rumour of proposed increase the pump price of PMS by NNPC in its bid to sustain the availability of products and reduce loss to under recovery of PMS. NNPC spends N6.85bn ...

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NUPENG urge NNPC to fix refinery issues During the recent fuel scarcity in Nigeria, the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) called for the rehabilitation of the country's refineries as a long-term solution to the subsidy issue. If the local refining capacity is scaled up, 100% local ...

Niger Delta against OML 11 renewal The media open a news containing SPDC moves to renew its license on OML 11 in the Niger Delta region. The license is due in 2019. The indigenes of the region (Ogoniland) have appealed to the federal government not to approve the renewal ...

Foreign investment inflow into the Nigerian drops in Q4 There was a slowed drastic drop in the Q3 of 2017, the volume of funds that came into the sector from abroad dropped by 91.56% to $16.07 million from $190.39 million recorded in the Q2 of the year. Petrolex commission largest ...

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SPDC secures 10 years license renewal for power plant The Afam Power plant is located in the Niger-Delta region, the power source which capacity is 650 MW had supplied over 25.97 million megawatts hours of electricity into the nation’s power grid since inception in 2008. The license renewal is based ...