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...

Oil Hits $40 As Nigeria Cuts Production By 216,000bpd   Global oil commodities gained in prices on Wednesday as Brent crude, the benchmark against which Nigeria’s crude is priced, rose to $40 per barrel for the time since March. Brent crude rose by 43 cents, or 1.1...

Oil Rises To $38 As OPEC+ Discusses Production Cut Extension   The Organisation of Petroleum Exporting Countries and its allies led by Russia are moving closer to a compromise on extending current oil output cuts and are discussing a proposal to roll over supply curbs for...

Oil Revenue May Drop Further To 25% Of Budget     With Nigeria’s revenue from oil and gas dropping by N425.52billion in the first quarter (Q1) of 2020 to N940.91billion, according to the Minister of Finance, Budget and National Planning, Zainab Ahmed, operators have noted revenue from...

Nigeria Loses N125bn Oil Revenue To COVID-19      Nigeria’s oil revenue target fell by N125.52 billion in the first quarter (Q1, 2020) to N940.91 billion, according to figures released yesterday by Minister of Finance, Mrs. Zainab Ahmed. The shortfall, attributed to the double whammy of the headwind...