Shell is targeting project sanctions in Nigeria, UK North Sea, China and US Gulf, with two LNG developments also seen, Upstream reports. Following the release of its second-quarter results last week, Shell CEO Ben van Beurden identified eight upstream projects that are expected to progress towards a final investment decision in the next 18 months. The Bonga South West deep-water … Read More

Oil prices hit a two-month high on Monday lifted by a tightening US crude market and the threat of sanctions against OPEC-member Venezuela. Brent crude futures were 52.90 dollars per barrel earlier in the day, their highest since May 25. U.S. West Texas Intermediate (WTI) futures were up 16 cents or 0.3per cent at 49.87 dollars per barrel. The entire … Read More

The Nigerian National Petroleum Corporation​, NNPC,​ has suspended exploration for crude oil in the Lake Chad Basin​. This followed attacks on its workers and some military personnel by Boko Haram. Minister of State for Petroleum Resources, Ibe Kachikwu, ​Thursday ​said the exercise ​will be put on hold until the military could give the sufficient clearance to resume oil search in … Read More

The Nigerian oil and gas industry will between now and year 2027 aspire to domesticate the full capacity and capability required for the integration of Floating Production Storage and Off-loading vessels (FPSO), the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote has said. He gave the target at the public hearing conducted by … Read More

The British government has said it will invest in Nigeria’s oil pipeline infrastructure, renewable energy, as well as gas and power. The British High Commissioner to Nigeria, Mr. Paul Arkwright, disclosed this when the Group General Manager, Group Public Affairs Division, Nigerian National Petroleum Corporation, Mr. Ndu Ughamadu, paid a courtesy visit to the Chancery of the British High Commission … Read More