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Aker BP’s Q2 operating profit jumps amid record output

Oslo — Norwegian oil group Aker BP on Thursday reported a rise in second-quarter earnings that matched expectations as record output offset weaker prices for oil and gas. Norway’s second-largest listed oil company, partly owned […]

Oil markets set to tighten, economic headwinds to hit growth, IEA says

*Crude oil barrels; and a splash of oil appearing in the form of the map of the world London — Oil demand is set to hit a record high this year and the market is […]

Angola, DRC to ink agreement for Chevron operated block 14

Johannesburg, South Africa — Angola and the Democratic Republic of Congo (DRC) are set to make history with the signing of an agreement for the development of Block 14 on Thursday 13 July in Kinshasa. […]

Navy foils oil theft attempts at OML18 facility in Rivers

* NNS Pathfinder Commander, Commodore Ibrahim Sulaiman, patrols OML18 theft points Mkpoikana Udoma Port Harcourt — The Nigerian Navy Ship, NNS Pathfinder has again recorded another success in the fight against oil theft in the […]

Army parades 12 illegal oil bunkering suspects, fake personnel

*Nigerian army parades illegal oil bunkering suspects Mkpoikana Udoma Port Harcourt — The sixth Division of the Nigerian Army in Port Harcourt, has paraded 12 illegal oil bunkering suspects involved in illegal oil bunkering activities, as […]

‘NNPC has President Tinubu’s backing for IPO’

Abuja — State-owned Nigerian National Petroleum Co. Ltd. will launch an initial public offering (IPO) “soon”, its group CEO said on Tuesday after securing the backing of Nigerian President Bola Tinubu. NNPC runs joint venture […]

Oil market to tighten with China demand and OPEC+ cuts, says IEA

*North Sea Brent oil. London — Oil demand from China and developing countries, combined with OPEC+ supply cuts, is likely to keep the market tight in the second half of the year despite a sluggish […]

Labour leaders ask govt to list NNPC on Nigerian Stock Exchange, NYSE

*New York Stock Exchange Mkpoikana Udoma Port Harcourt — Labour leaders have urged the Federal Government to open up the Nigerian National Petroleum Company, NNPC, by ensuring the company enters not only the nation’s capital […]

Agitators threaten to cripple Nigeria’s 1.6m b/d oil production

*Niger Delta militants. Mkpoikana Udoma Port Harcourt — Nigeria’s rising oil output is now under threat as a self-acclaimed militant group in the Niger Delta known as Creek Reform Warriors, has threatened to resume attacks […]

Take NNPC to capital market, experts tell Tinubu

*A general view of the newly rebranded NNPC Mega Gas Station in Abuja, Nigeria August 30, 2022. REUTERS/Afolabi Sotunde Mkpoikana Udoma Port Harcourt — The Nigerian National Petroleum Company Limited will remain unattractive to both […]