OPEC predicts ‘slight increase’ in oil sector investments in 2018

…Reports ‘highest ever’ level of compliance with production cuts OpeOluwani Akintayo 27 September 2017, Sweetcrude, Lagos – The Organisation of the Petroleum Exporting Countries, OPEC, says investments in the oil and gas sector would rise slightly this year and in 2018. The organisation made the prediction as it reported highest ever level of conformity with […] More »

Infrastructure challenges prevent Nigeria from achieving 1.8mb/d production – Kachikwu

Oscarline Onwuemenyi 27 September 2017, Sweetcrude, Abuja – Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, says Nigeria’ crude oil production was being hampered by infrastructural problems. He said no oil export streams in Nigeria remained under force majeure but infrastructure problems were preventing production exceeding 1.8 million barrels per day, mb/d. Nigeria is […] More »

Power: Four years not enough to resolve 60-year rot – Fashola

Oscarline Onwuemenyi 27 September 2017, Sweetcrude, Abuja – Minister of Power, Works and Housing, Mr. Babatunde Fashola, has spoken of the serious problems in the nation’s power sector and the inability of the private investors in the sector to turn things around, saying four years was not enough to change what could not be done […] More »

TCN reiterates commitment to improving wheeling capacity

Michael James 27 September 2017, Sweetcrude, Lagos – The Transmission Company of Nigeria, TCN, has emphasised its commitment towards improving its wheeling capacity and at the same time maintaining cordial relationship with all stakeholders in the sector. This, according to the TCN, is aimed at ensuring that Nigerians enjoyed a more stable electricity supply. The […] More »

W’Bank wants Nigeria on Africa’s mining map again

“Nigeria is the first African economy and really needs the employment that mining and all types of value-chain including local content can bring,” he stressed. More »

Forte Oil set to raise fresh capital

OpeOluwani Akintayo 27 September 2017, Sweetcrude, Lagos – Forte Oil Plc has embarked on ‘Book building’ ahead of its plan to raise fresh capital for its business. Book building is a systematic process of generating, capturing, and recording investor demand for shares during an initial public offering, Initial Public Offer, IPO, or other securities during their […] More »

Proposed Oil Institute will develop skills, create jobs – Minister

27 September 2017, Sweetcrude, Lagos – The Oil and Gas Equipment and Machinery Development Institute planned by the Federal Government for establishment in Yenagoa, Bayelsa State, will develop skills in the oil and gas sector as well as create jobs and wealth. Minister of Science and Technology, Dr. Ogbonnaya Onu, who disclosed this, also said […] More »