SEPLAT taps top banker, accountant Onwuka, as finance chief, ED

8 hrs

Banker was GMD of acquired Diamond Bank in heyday Seplat Petroleum Development Company Plc, the dual Nigerian Stock Exchange and London Stock Exchange listed Nigerian indigenous oil and gas company, has tapped top Nigerian banker and accountant, Emeka Onwuka, as its chief financial officer and executive director, the company announced at the weekend. Onwuka once […]

Atlas Petroleum resumes mining at OML 109 Ejubele marginal field

Ben EguzozieJuly 9, 2020

14 mapped prospects Field holds 500mb oil equivalent Atlas Petroleum International, the Nigerian indigenous oil production company, with operation in 12 African countries, has announced resumption of oil mining activities and well interventions on oil morning lease (OML) 109 in Nigeria, which would enhance production from the Ejulebe marginal field. The oil block was awarded […]

New fuel price band signals Nigeria’s gradual exit from subsidy regime

Phillip IsakpaJuly 1, 2020

After decades of an opaque, flawed and corruption-laden petrol subsidy regime, a new pump price band advised by the Petroleum Products Pricing Regulatory Agency (PPPRA) that will see petrol price move from N123.50 to between N140.80 and N143.80 per litre this July, is being seen as Nigeria finally signalling its willingness to allow the market […]

We won’t give up petrol pricing control function –PPPRA

June 29, 2020

EIA reports hefty oil inventory build

The Petroleum Products Pricing Regulatory Agency (PPPRA) has said it does not intend to give up its petrol pricing control function amid calls by operators in the oil and gas sector for it to do so. The PPPRA said it does not arrive at petrol controlled price alone. adding it does this in concert with […]

NNPC records trading deficit of N9.53bn in March

June 25, 2020

1,000 NNPC graduate trainees begin work on Monday

As the global oil market reels under the impact of low price regime and production cost agreed upon by OPEC and OPEC+ members, Nigeria’s national oil company, , said it recorded an operational loss of N9.53bnin March 2020. The loss reverses the steady growth trajectory of the corporation’s revenue since the last quarter of 2019. […]

Marginal oilfields: DPR  grants two weeks extension 

June 12, 2020

In order to accommodate more prospective bidders for its marginal oilfields, the federal government has extended bids for the oilfields by two weeks.   The federal government, through the Department of Petroleum Resources (DPR), disclosed this on Thursday. The bids will now officially close on June 21. The DPR launched the first marginal field award round […]

Seplat CEO projects $17bn oil revenue shortfall for Nigeria in 2020

Samson EchenimJune 12, 2020

Nigeria’s oil receipts in 2020 are expected to drop by as much as $17 billion, Austin Avuru, the chief executive officer of Seplat Petroleum Development Company, has projected. His projection comes amid the current struggle for survival by companies operating in the upstream sector of the Nigerian oil and gas industry. Speaking on Nigeria’s oil and gas […]

FG bars debtors from bidding for oil fields

June 5, 2020

Companies, including their promoters, indebted to the federal government will not be allowed to participate in the newly launched bid round for marginal oilfields, the Department of Petroleum Resources has said. The DPR, in a documen, said applicants should demonstrate the ability to fully meet the objective of undertaking expeditious and efficient development of a […]