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Delta communities task oil firm on new GMoU

ASABA—No fewer than 111 oil bearing communities in Oil Mining Lease, OML, 30, Delta State, have urged the management of Heritage Energy Operational Services Limited,  HEOSL, to expedite action in drawing up a new Global Memorandum of Understanding, GMoU, to demonstrate its commitment to a fresh start in the oil block.
The post Delta communities task oil firm on new GMoU appeared first on Vanguard News. …

Oil races to $80 as U.S. drilling rises

Oil prices steadied below 3-1/2 year highs on Monday as resistance emerged in Europe and Asia to U.S. sanctions against major crude exporter Iran, while rising U.S. drilling pointed to higher North American production.
The post Oil races to $80 as U.S. drilling rises appeared first on Vanguard News. …

Jonathan: local content has hit 32% in oil, gas industry

Jonathan: local content has hit 32% in oil, gas industry

The value addition and percentage spending retained in Nigeria’s upstream and downstream operations have increased from less than five per cent to 32 per cent, former President Goodluck Jonathan has said. He said at a conference in Houston, United States that despite some limitations, the gains from the implementation of the local content Act wereRead More
The post Jonathan: local content has hit 32% in oil, gas industry appeared first on The Nation Nigeria. …

Oil prices surge after Trump dumps Iran deal

Oil prices surged on Wednesday to levels not seen in over three years after President Donald Trump pulled the United States out of the Iran nuclear deal, resulting in renewed sanctions on the Islamic Republic’s crude exports.
The post Oil prices surge after Trump dumps Iran deal appeared first on Vanguard News. …

‘Government should implement incentive schemes to boost non oil export’

The Chief Executive Officer of Afriexporter Magazine, Idris Mamukuyomi, has called on the Federal Government to provide incentives and implement schemes that will help non oil export’s growth and development. Speaking at Afriexporter Expo 2018 conference and exhibition held recently in Lagos with the theme: “Nigeria Export Industry: Product, Prospect, Profitability”, Mamukuyomi stressed that most […] …

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