‘Renewables To Replace Oil As Top Global Energy Source By 2040’   Renewable energy will displace petroleum as the most-used global energy source in the late 2040s, but oil demand is not expected to peak before 2050, the United States Energy Information Administration, yesterday, in its...

Oil: FG Reduces Licensing Time To 72hrs The Department of Petroleum Resources (DPR) on behalf of the Federal Government says it has reduced the turn-around time for licensing and license renewal for all categories of service providers in the industry from an average of three...

NNPC Targets Higher Oil Income   The Nigerian National Petroleum Corporation (NNPC) has indicated its willingness to step up its contribution to Nigeria’s revenue, especially the implementation of its 2020-2022 medium term fiscal frameworks. A statement from the corporation stated it had commenced extensive conversations on this...

US Emerges UK’s Biggest Oil Supplier, Overtakes Nigeria   Crude oil exports from the United States to the United Kingdom overtook supplies from other countries including Nigeria for the first time since such shipments began in 2015. In January, the US supplied the equivalent of almost one...

Problem Looms For Nigeria As Oil Price Plunges   The international oil benchmark, Brent crude, has fallen to its lowest level this year and below the proposed benchmark for Nigeria’s 2019 budget, with economic experts describing the development as a cause for concern for the country. Brent,...

Oil Subsidy Rises As NNPC Imports Grow By 34% The Nigerian National Petroleum Corporation has spent more on petrol subsidy this year than it did last year on the back of increased imports and the rally in crude oil prices. The nation imported a total of...