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Saudi Arabia Mineral Wealth Hits $2.5trn

Saudi Arabia Mineral Wealth Hits $2.5trn

Saudi Arabia on Wednesday estimated the country’s mineral wealth at $2.5 trillion. “The kingdom’s mineral wealth has increased by 90% to reach an equivalent of 9.375 trillion riyals ($2.5 trillion),” Minister of Industry and Mineral…

Nigeria Plans To Raise Oil Output To 2.6mn Bpd By 2026

Nigeria Plans To Raise Oil Output To 2.6mn Bpd By 2026

Nigeria’s upstream oil regulator on Monday set an ambitious goal to increase oil and condensates output from 2023 levels of about 1.6 million barrels per day (bpd) to 2.6 million bpd by 2026. Nigeria, the…

US Issues Fresh Sanctions On Russia Over Oil Price Cap

US Issues Fresh Sanctions On Russia Over Oil Price Cap

The United States (US) has imposed additional sanctions related to the price cap on Russian oil, targeting three entities and three oil tankers as Washington seeks to close loopholes in the mechanism designed to punish…

Eunisell Reaffirms Its Support For Oil And Gas Sector

Eunisell Reaffirms Its Support For Oil And Gas Sector

Eunisell Limited on Wednesday reaffirmed its commitment to collaborate with stakeholders in propelling the growth of Nigeria’s oil and gas sector. Eunisell Limited, a leading specialty chemicals and oil and gas solutions company in West…

Reps To Investigate N6.5bn Shoreline Protection Contract In Ondo

Following the failure of the performance of the N6.5 billion shoreline protection contract awarded by the Niger Delta Development (NDDC) in Ayetoro Community, llaje Local Government Area of Ondo State since 2006 has caught the…

Fire Guts Oil Pipeline In Ukraine, Injures Nine

Fire Guts Oil Pipeline In Ukraine, Injures Nine

A fire broke out at an oil pipeline in Ukraine’s Ivano-Frankivsk region, injuring nine people, according to emergency services. Unverified footage shared on social media on Saturday showed billowing clouds of thick black smoke over…

Navy Arrests Two Suspected Oil Thieves In Asugbo Delta

Navy Arrests Two Suspected Oil Thieves In Asugbo Delta

The Nigerian Navy Ship (NNS) in Delta State on Wednesday handed over two suspected crude oil thieves to the officials of the Nigeria Security and Civil Defence Corps (NSCDC) for further interrogation and investigation. New…

Britain Approves New North Sea Oil Drilling

Britain Approves New North Sea Oil Drilling

The British government on Wednesday approved the development of new oil and gas drilling at a site in the North Sea, a move environmentalists say will hurt the country’s attempt to my it’s climate goals.…

Nigeria’s Oil Production Hits 1.18mbpd In August – OPEC

Nigeria’s Oil Production Hits 1.18mbpd In August – OPEC

Iran, Nigeria, and Iraq increasing crude production inspired the Organisation of Petroleum Exporting Countries (OPEC) to boost August production, according to the group. The latest oil production figures obtained from OPEC showed that oil production…

Crude Production: Experts Advocate Focus On Non-Oil Sectors

Crude Production: Experts Advocate Focus On Non-Oil Sectors

Experts in mining, manufacturing and other non-oil sectors of the Nigerian economy are calling for increased focus on sectors outside the energy industry as a key driver of growth at a time when the country…