DPR Backs Marginal Field Investors On Quicker Oil Find     The Department of Petroleum Resources (DPR) said it has developed a strategy to ensure that marginal field investors strike the first oil on record time. Director of DPR, Engr. Sarki Auwalu, disclosed this when the agency awarded...

COVID-19: Virus Resurgence Threat To Oil Demand Recovery – OPEC       The resurgence of the COVID-19 pandemic in many countries is posing a threat to economic and oil demand recovery, the Organisation of Petroleum Exporting Countries has said. It disclosed this at the 16th OPEC and non-OPEC...

Oil Price Gains For Fifth Consecutive Month     The average global crude oil prices have continued to rise for the fifth consecutive month, the Organisation of the Petroleum Exporting Countries said on Tuesday. OPEC attributed the continued rise in international oil prices to the supportive oil market...

Oil Tumbles To $60 On Concerns Over Vaccine Rollouts       The international oil benchmark, Brent crude, fell more than six per cent on Tuesday, tumbling as concerns over new pandemic curbs and slow vaccine rollouts in Europe compounded additional crude volumes. Brent, against which Nigeria’s crude oil...

Marginal Oilfields: FG Receives 50% Of Signature Bonuses       The Federal Government said on Tuesday that it had received signature bonuses from 50 per cent of the winners of marginal oilfields following the conclusion of the bid process. The Minister of State for Petroleum Resources, Chief Timipre...

Missing Oil: Shell Remains Mute As Aiteo Alleges Media Attacks Over $2.7bn Case       There are indications that the dispute between Aiteo Group, and Shell Petroleum Development Company, SPDC, has exacerbated as the former, weekend, accused the International Oil Company, IOC, of allegedly planning a media...