Browsing: Oil

THREE of the international oil companies operating production sharing contracts, PSCs with the Federal Government through the Nigerian National Petroleum Corporation, NNPC have dragged the later before arbitration seeking restitution over alleged scandalous crude oil grab denying them revenues in excess of $8 billion.

Iran’s parliament approved President Mahmoud Ahmadinejad’s candidate as Oil Minister on Wednesday, putting a military commander who is under international…

The USAN FPSO arrived on site on the 31st July, 2011 after 3 months of being towed from Ulsan, South Korea. The FPSO is currently undergoing Customs clearance. , Mooring will start immediately after preliminary check-up procedures are concluded.

Oil fell on Tuesday on continued worries about the growth prospects of the world’s largest crude consumer after weak US…