These are not the best of times for the oil industry all over the world. The situation has sent oil-dependent economies reeling. Nigeria isn’t immune to the crisis mainly occasioned by the coronavirus, COVID-19, pandemic.
The post Kyari, Nigeria’s oil industry in times like these appeared first on Vanguard News.
As the Federal Government gradually eases COVID-19 restrictions, with most businesses seeking appropriate recovery plans, certain critical options need to be embraced.
The post COVID-19: How Crater 365 can promote growth, productivity in oil and gas industry appeared first on Vanguard
The International Energy Agency, IEA, has warned that demand for oil will plummet by 8.1 million barrels per day (bpd) in 2020 due to reduced air travel occasioned by the Coronavirus (COVID-19) pandemic. This is expected to further depress oil prices and force oil producers to effect another round of cut in output.
The post Oil demand to drop 8m barrels as air travel dips
Total suffered its first net loss in five years in the second quarter due to the plunge in crude prices triggered by the coronavirus pandemic, the French oil company said Thursday. The $8.4 billion loss included $8.1 in writedowns in asset values due to the drop in oil prices, in particular for its oil sandsRead More
The post Total
Construction of the $12 billion Dangote Refinery, which has the capacity to refine 650,000 barrels per day/bpd, has reached 71 percent completion stage. The Department of Petroleum Resources, DPR, stated this in its latest report— List of Valid Refinery Licences— obtained by Vanguard.
The post Dangote Refinery 71% complete— DPR appeared first on Vanguard
Nigerian stocks climbed eight-week high on Wednesday, lifted by gains in shares of energy companies after global oil prices rallied.
The post Stocks rise to 8-week high as oil prices gain 1.5 % appeared first on Vanguard News.
Faced with dwindling oil revenue, which has threatened 2020 federal and state governments' budgets, Chairman of the Revenue Mobilisation Allocation and Fiscal Commission, RMAFC, Engr Elias Mbam, has called for an end to gas flaring in the country.
The post Falling oil revenue: We must end gas flaring, says RMAFC boss appeared first on Vanguard
…Nigeria’s fiscal regime unnecessarily complex — expert By Michael Eboh The Federal Government has been cautioned against placing too much emphasis on its immediate need to grow its revenue in the planned review of the fiscal regime in the proposed Petroleum Industry Bill (PIB). Speaking at a webinar, an advocacy workshop on ‘Elements of FiscalRead