Oil and Gas

Lagos, Aug. 5, 2025 – Shell is highlighting its contributions to the growth of oil industry in Nigeria at an exhibition at the annual international conference of the Nigeria Section of the Society of Petroleum Engineers (SPE) which opened in Lagos on Monday. It comes as Shell received an award for the Bonga North FID at the opening ceremony.  Shell is among more than 60 exhibitors at the conference, with a stand featuring the flagship of its business in Nigeria, Shell Nigeria Exploration and Production Company Ltd (SNEPCo) as well …

Lagos, Aug. 4, 2025 – Bayo Ojulari, the Group Managing Director of the Nigerian National Petroleum Company Limited (NNPCL), has called for concerted efforts to de-risk Nigeria’s energy environment to attract long-term investments. Ojulari made the call in Lagos on Monday on while addressing participants virtually during the 2025 Society of Petroleum Engineers (SPE) International Conference. He said Nigeria could only attract more capital into the energy sector by improving governance, strengthening regulatory frameworks, honoring contracts, and building transparent dispute resolution systems. The NNPCL boss advised that instead of selling …

Abuja, Aug. 4. 2025 – Bayo Ojulari, the Group Chief Executive of Nigerian National Petroleum Company Limited (NNPCL), reported in office on as scheduled on Monday in spite of rumours of his purported resignation at the weekend. There were various reports that Ojulari was forced to resign at the weekend over allegations of fraudulent practices. The rumour mill was still agog in spite of a statement from the presidency to the contrary. Ojulari was, however, seen in the office on Monday. according to impeccable sources in the NNPCL. He was …

Singapore, Aug 4, 2025 – Oil prices edged higher on Monday, paring earlier losses, as traders expect the market to absorb another large output hike by OPEC+ in September, while worries about disruptions to Russian oil shipments to major importer India also provided support. Brent crude futures climbed 11 cents, or 0.16%, to $69.78 a barrel by 0647 GMT, and U.S. West Texas Intermediate crude was at $67.52 a barrel, up 19 cents, or 0.28%. Both contracts closed about $2 a barrel lower on Friday. The Organization of the Petroleum …

Washington, Aug. 4, 2025 – President Donald Trump said he will announce a new Federal Reserve governor and a new jobs data statistician in the coming days, two appointments that may shape his economic agenda amid anxiety over the trajectory of global growth. Trump made the comments to reporters Sunday on his way back to the White House from a weekend in Bedminster, New Jersey. He has faced criticism for his relentless attacks on the Fed and for firing Bureau of Labor Statistics chief Erika McEntarfer after data showed weak …

London, July 31, 2025 – Oil prices were little changed on Thursday as investors weigh the supply risks from U.S. President Donald Trump’s push for a swift resolution to the war in Ukraine through more tariffs while a surprise build in U.S. crude stocks weighed on prices. Brent crude futures for September, set to expire on Thursday, rose 4 cents, or 0.05%, to $73.28 a barrel by 0812 GMT.  U.S. West Texas Intermediate crude for September also rose 4 cents, or 0.06%, to $70.04. Both benchmarks chalked up 1% gains on …

Abuja, July 31, 2025 – The Nigerian National Petroleum Company Limited (NNPCL) will complete the rehabilitation of the Port Harcourt Refinery rather than sell the company now. ‎Bayo Ojulari, its Group Chief Executive, disclosed this in Abuja on Wednesday at a town hall meeting at the NNPC Towers. He said the earlier proposal to sell the company was “ill-advised and sub-commercial.” “The ongoing review indicates that the earlier decision to operate the Port Harcourt refinery, before full completion of its rehabilitation, was ill-informed and sub-commercial. ‎” Although progress is being …

Kaduna, July 31, 2025 – The Nigerian National Petroleum Company Limited (NNPCL) has drilled four oil wells in the Kolmani area of Bauchi State in the bid to expand its oil prospecting in the North. Yusuf Usman, a Director in NNPCL, disclosed this in Kaduna on Wednesday at a two-day interactive session on government-citizens engagement.  He also restated commitment of the company to the exploration and development of oil and gas resources in the northern region of the country. “So far, the NNPCL has drilled four wells in the Kolmani …

New York, July 29, 2025 – Oil prices rose on Tuesday, extending the previous day’s rally, on optimism that a trade war between the United States and its major trading partners was abating and as President Donald Trump ramped up pressure on Russia over its war in Ukraine. Brent crude futures were up 95 cents, or 1.36%, at $70.99 a barrel at 12 p.m., having touched their highest since June 23, while U.S. West Texas Intermediate crude was at $67.70, up 99 cents, or 1.48%. Both contracts settled more than …