Nigerian Oil, Gas Stocks Lose N178bn In Six Months   Oil and gas companies listed on the Nigerian Stock Exchange reported a loss of about N178.018bn in the first half of 2020 as the coronavirus pandemic continued to take a toll on the industry. An analysis by...

US Import Of Nigerian Oil Drops By 63%     The United States’ import of Nigeria crude oil plunged by 63.03 per cent in the first quarter of this year, compared to the last quarter of 2019. Latest data from the US Energy Information Administration showed that the...

Nigeria’s Oil Export To Drop By 50% This Year — Fitch Ratings     Fitch Ratings, world’s leading risk analysts, has said that Nigeria’s oil export will record a 50 percent decline by end of this year due to the impact of the Coronavirus (COVID-19) pandemic on...

Oil: Nigeria Has Highest Personnel Cost In Global Petroleum Industry   Stakeholders have raised concerns over the country’s production costs, noting that Nigeria has the highest personnel cost among global operators, thus making it difficult to produce oil at a profitable price of below $10/barrel. According to...

FG Extends Deadline For Marginal Oilfield Bids To June 21     The Department of Petroleum Resources (DPR) thursday extended by one week, the deadline to register to bid for Nigeria’s marginal oilfields, which will now close on June 21. The DPR launched the first marginal field award...

Indigenous Oil Marine Vessels Now 40%, Says FG   Nigerian-owned marine vessels for oil and gas sector operations have increased from three per cent to over 40 per cent, the Federal Government said on Tuesday. The Minister of State for Petroleum Resources, Timipre Sylva, said this in...