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Crude oil production in Angola, last year, was set at 695,707 million barrels, Angop learnt on Friday here from the minister of Oil, Botelho de Vasconcelos, while speaking at the new-year greetings ceremony that gathered officials of oil companies working in the country.
UK-based oil explorer Tullow Oil and U.S. producer Anadarko Petroleum made new discoveries around their Jubilee field in Ghana, Tullow said on Thursday.
The Shell Petroleum Development Company (SPDC) says it has committed $3 billion to reduce gas flaring through a scheme this year.
Nigeria is expected to export 1.66 million barrels per day (bpd) of oil in February, steady from January and down 12 per cent from December, following OPEC deals to cut output, traders have said.
The need to separate the running of Nigeria's oil and gas industry from politics is a major reason behind the reforms about to be embarked upon by the Federal Government, THISDAY was told yesterday.
In what may signal an imminent reduction in the fares charged by Nigerian airlines, marketers of aviation fuel, known as Jet A1, have said that they would crash the prices by end of January to be in tandem with the deeping prices of crude in the international market.
National Union of Petroleum and Natural Gas Workers Union (NUPENG), Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Department of Petroleum Resources (DPR) branch, have issued a 21-day ultimatum to the Federal Government to rescind its decision to appoint a pre-shipment inspector or risk industrial action.
MILITANTS yesterday abducted a contractor with Elf Company, Mr. Thank God Elenwo Ikwegbu at his residence in Iwhechiorlu community, Rukpokwu town in Obio/Akpor Local Government Area. And at press time were demanding two hundred million naira ransom.
Nigeria is expected to export 1.66 million barrels per day (bpd) of oil in February, steady from January and down 12 per cent from December, following OPEC deals to cut output Reuter has reported. According to the report February exports are mostly unchanged from the anticipated 1.65 million bpd in January, and down from 1.88 million bpd in December due to a combination of shipment delays, ...
Oil traded higher on Wednesday, reaching $43 a barrel after diving 12 percent overnight, partly due to higher than expected U.S. crude stocks data that hardened evidence of weakening demand.
The Chronicle is a witness to a special covenant that the good people of Ghana made with candidate Mills, and which they have subsequently honoured their part of the bargain, resulting in the grand investiture which was held on Wednesday, at the Independence Square.
An industrial disharmony appears imminent in the country's oil and gas industry following the appointment of Cobalt International Services by the Federal Government as Pre-Shipment Inspector for the 21 Crude-Oil Export Terminals.
The PPMC has said that it will expand its activities in the marketing of special products and cooking gas.
The report of the Oil and Gas Implementation Committee (OGIC) will greatly influence the strategic direction of the Pipelines and Products Marketing Company (PPMC) in 2009, Mr Reginald Stanley, the company's Managing Director, has said.
Two leading labour unions in the oil industry, NUPENG and PENGASSAN have given the Federal Government a 21-day ultimatum to revoke the appointment of pre-shipment inspectors for crude oil exports or contend with a strike.
Oil workers have given the government a 21-day ultimatum to reverse the appointment of a pre-shipment inspector for crude exports or face the risk of industrial action.
With the dwindling oil revenue realities currently facing the nation, the new Director-General (D-G) of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Alhaji Muhammed Nadada Umar has pledged to provide alternative revenue sources across the nation.
The first consignment of 24 fuel trucks has left the Kenyan port of Mombasa for Kigali as part of the 12 million litres of fuel for the national fuel reserves.
Ghana's oil find has received another facelift as TULLOW announced it has achieved successful drilling results from the Hyedua_2 appraisal well offshore. The success of this well has substantially increased the proven areal extent of the Jubilee field and is likely to lead to material upgrades of current resource estimates.
Hopes that the pump prices of petroleum products may soon be reviewed downward in the face of lower crude oil prices may not materialise soon afterall, THISDAY has learnt.
Story of the six Ghanaians and a Nigerian arrested in connection with illegal oil bunkering in Delta State Tuesday took a new dimension, as the suspects claimed that they were engaged by a Lagos-based Nigerian businessman.
In compliance with the directive of President Umaru Musa Yar'Adua that ministries, departments and agencies return all monies not utilised before December 31, the ministry of petroleum resources has remitted the unspent sum of N6 billion budgeted for the execution of Escravos-Lagos pipeline project in the 2008 budget to federal government.
THE ministry of Energy's Ernest Rubondo, who is the commissioner for Petroleum Exploration and Production Department, says oil exploration and production activities will continue as planned despite the on-going global financial crisis.
NIGERIA may be worse off in the next three decades if oil revenues are not judiciously channelled toward developing the nation, Ondo State Governor, Dr. Olusegun Agagu, has warned.
Chairman, Senate Committee on Appropriation, Senator Iyiola Omisore, said Tuesday that the Senate had been vindicated by its decision to benchmark the 2009 budget at $45 per barrel, with the gradual rise of crude oil price.
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