Sign in
Sign in
Recover your password.
A password will be e-mailed to you.
International Petroleum (IP) Week 26 – 28 February 2019
26 – 28 February 2019
Intercontinental Park Lane, London
ipweek.co.uk
As one of the biggest events in the oil and gas calendar, International Petroleum (IP) Week brings together over 1,500 industry professionals from over 50…
Buhari Appoints New GMD For NNPC, Seven Chief Operating Officers
President Muhammadu Buhari has appointed Mr Mele Kolo Kyari as the new Group Managing Director of the Nigerian National Petroleum Corporation, bringing to an end the tenure of Maikanti Baru, as the oil firm’s boss.
NNPC’s Group General…
How Insecurity Stalled Oil Search In Chad Basin
...NNPC boss confirms plan for an Institute of Petroleum Studies in Bauchi
Chibisi Ohakah, Abuja
The federal government has expressed frustrations on how the insecurity in the north east part of the country stalled the orchestrated…
N/Delta: We Have Empowered Over 6,659 Entrepreneurs In Bayelsa, Delta – SPDC
Kenechukwu Obiajuru, Yenagoa
Shell Petroleum Development Company (SPDC) says it has empowered over 6,659 entrepreneurs from its gas fields in Bayelsa and Delta from 2003 till date.
The General Manager, External Relations…
Addax Petroleum Signs Long-Term Deal For Yinson FPSO
Chibisi Ohakah, Abuja with agency reports
Addax Petroleum Development Nigeria has signed a long term contract with Malaysian FPSO provider, Yinson. The contract, which came after months of negotiations and short term contract…
Otedola Completes Divestment from Forte Oil
Billionaire oil magnate, Femi Otedola, on Wednesday announced the completion of his divestment plans from Forte Oil.
Otedola in a message posted on his Instagram page said he has divested from the business and will now…
Nigeria Daily Oil Production Hits 2.3 mbpd – NNPC GMD
The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, says the country’s daily oil production is currently 2.32million barrel per day.
Mr Baru disclosed this on Tuesday when a delegation of the…
Group Expresses Safety Concern Over First E&P Operations at OML 85 & 86 in Bayelsa
Kenechukwu Obiajuru, Yenagoa
A Niger Delta group known as Ifalbobou Revolutionary Movement, (IRM) has expressed concerns over operations of First Exploration and Petroleum Development Company, (First E&P) within the…
Army 6 Division Kills Cultist, Oil Theft Kingpin in Ogoni Community
Amaechi Okonkwo, Port Harcourt
The 6 Division of the Nigerian Army, Port Harcourt has announced the killing of a notorious cultist and illegal oil bunkering kingpin, Korobe Menele Loveday who has been on the wanted list of the security…
Social Action Queries HYPREP on Framework for Ogoni Clean Up
Amaechi Okonkwo, Port Harcourt
The Social Development Integrated Centre (Social Action, Nigeria) has raised a three-point query to the Hydrocarbon Pollution Remediation Project, HYPREP demanding the Ogoni Clean-up implementation…
NPDC, Elland Commence 5-Well Drilling Campaign of OML 40
Chibisi Ohakah, Abuja
Nigerian Petroleum Development Company (NPDC) and Eland Oil & Gas, an upstream oil and natural gas exploration company, are set to commence a five-well drilling campaign of OML 40 onshore the Niger Delta.
…
NNPC’s Subsidiary, NETCO, posts N6.758bn profit
Chibisi Ohakah, Abuja
National Engineering and Technical Company of Nigeria (NETCO), the engineering subsidiary of the Nigerian National Petroleum Corporation (NNPC), yesterday posted a profit before tax of N6.75 billion for the year…
Price of petroleum products decline in May – NBS report
…cooking gas declines by 1.7%
Chibisi Ohakah, Abuja
Nigerian Bureau of Statistics (NBS) has announced significant declines in the prices of petroleum products nationwide in the month of May 2019, noting the crash of cooking gas by…
Kachikwu Promises Better Deal For African Petroleum Producers
Nigeria’s Minister of State for Petroleum Resources,Dr. Ibe Kachikwu has promised to reposition the African Petroleum Producers’ Organization(APPO) as a global force to reckon with.
Kachikwu, who was last week re-elected as the President…
Oil Rallies Despite Large Crude Build
Crude oil prices brushed off the Energy Information Administration inventory report today, which saw a 7-million-barrel build in crude oil inventories for the week to April 5.
The authority also reported a reduction in gasoline…
Total, Exxon Move Step Closer To $13B Papua LNG Project
ExxonMobil, France’s Total, and Australia’s Oil Search have signed a gas agreement with Papua New Guinea, outlining the fiscal terms for a new liquefied natural gas (LNG) project in the Pacific island, estimated to cost US$13 billion and…
Chevron companies, others donate education, health facilities to schools, hospitals
Two Chevron companies, Texaco Nigeria Outer Shelf Ltd (TNOS) and Star Deepwater Petroleum Ltd, and their partner and parties in the OML 132 and Agbami field respectively, have donated a hybrid library, two science laboratories to schools…
Over 1000 delegates attend NOGOF 2019
NOGOF 2019
Over 1000 delegates including the Governor of Bayelsa State, Hon Seriake Dickson; Minister of State for Petroleum Resources, Dr Emmanuel Ibe Kachikwu; Managing Director of Shell Petroleum Development Company (SPDC), Mr Osagie…
Electrification Powered by Renewables Key for a Climate-Safe Future
A new report by IRENA charts pathways to further accelerate energy transformation which meets climate objectives while creating jobs and fostering economic growth
As the urgency to take bold climate action grows, new analysis by the…
Asian demand strengthens Nigerian oil exports
Chibisi Ohakah with Agency reports
Comparable grades of Nigerian oil has been largely swept away and put under pressure in Europe by the rising tide of light U.S. shale oil from American shores. However, steady Indian and Indonesian demand…
NCDMB, stakeholders set to finalise Nigerian Content Ministerial Regulations draft
By Elizabeth Uwandu
The Nigerian Content Development and Monitoring Board (NCDMB) and stakeholders in the oil and gas industry have set plans to finalise the draft of Nigerian Content Ministerial Regulations.
At a forum that held recently…
How beneficial is rise in oil price to Nigeria?
Pita Ochai
As oil price return to $70/bbl, exporting countries are on the jubilation side. Production cuts by the Organisation of Petroleum Exporting Countries, OPEC, and its partners, a coalition that pumps about half of the world’s oil,…
Dietsmann Group leads in Smart Operation & Maintenance, launches start-ups for ‘Maintenance of…
Peace Obi
A leading independent Operation, Maintenance, Engineering & Inspection specialist for the continuous-production plant in the oil & gas both for conventional and nuclear power generation and mining industries, Dietsmann…
NNPC Commends Oilserv on on-going East-West Gas Pipeline Project
Peace Obi
Oilserv Limited, a leading Engineering, Procurement, Construction, Installation and Commissioning Company in Nigeria has been commended by the management of the Nigerian National Petroleum Corporation (NNPC) for its role in the…
OPEC daily basket price Monday, 8 April 2019
The price of OPEC basket of fourteen crudes stood at $70.33 a barrel on Monday, compared with $69.02 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following:…
OPEC commends Nigeria, others for contributing towards oil market rebalancing
Peace Obi
The Organization of Petroleum Exporting Countries, OPEC has commended the effort Nigeria and some other African countries have put up helping to stabilize prices in the global oil market by sticking to the Organisation’s…
PIB may be signed into law in June – Kachikwu
…denies rumours of NNPC, refinery sale
Chibisi Ohakah, Abuja
There are indications that the orchestrated Petroleum Industry Bill (PIB) may be assented to by President Muhammadu Buhari before the end of June 2019, when the 9th National…
Nigerian government, agencies get $6.397bn revenue from Shell
Peace Obi
In its commitment to transparency as part of the company’s core values and principles, Shell exploration and production companies in Nigeria comprising The Shell Petroleum Development Company of Nigeria Limited (SPDC) and Shell…
NOGOF 2019: Shell Emerges Nigeria’s Most Impactful Local Content Company
Shell Companies in Nigeria have emerged the International Oil Company with the most impactful Local Content Initiatives in the upstream category at the 2019 edition of the Nigerian Oil and Gas Opportunity Fair (NOGOF) held in Yenagoa,…
Renewable energy now accounts for a third of global power – Report
The decade-long trend of strong growth in renewable energy capacity continued last year with global additions of 171 gigawatts (GW), according to new data released by the International Renewable Energy Agency (IRENA). The annual increase of…
NCDMB launches compendium of NC opportunities in O&G with project worth of $51bn
Peace Obi
The Nigerian Content Development and Monitoring Board, NCDMB on Friday in Yenagoa launched a 130-page Compendium of Nigerian Content Opportunities in the oil and gas industry, 2019 as part of the events marking the 2019 Nigerian…
NOGOF 2019: Take advantage of $100bn new projects in O&G, Wabote tells indigenous firms
Peace Obi and Kenechukwu Obiajuru, Yenagoa.
The Executive Secretary, Nigeria Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote on Thursday advised indigenous companies to position themselves to take advantage…
Exxon Mobil not exiting Nigeria – Kachikwu
Kenechukwu Obiajuru, Yenagoa
The Minister of State for Petroleum, Dr Emmanuel Ibe Kachikwu has denied the knowledge about any plan by Exxon Mobil, operators of Mobil Producing Nigeria unlimited to stop operation in the country.…
NNPC announces new gas flare regime to benefit host communities
…call for partnership with HOSTCOM on pipeline vandalism, crude oil theft
Chibisi Ohakah, Abuja
The Nigerian National Petroleum Corporation (NNPC) has announced the introduction of a new gas flare regime for every new project…
Where to invest in Nigeria’s oil and gas industry – The Daily Consulting
The Daily Consulting has released an authoritative Report - Where to invest in Nigeria’s oil and gas industry - targeted at guiding investors, potential investors, financiers, consultants, contractors, advisers, policy makers and other…
Oil Theft: JTF, surveillance contractors intensify crackdown on vessels
Kenechukwu Obiajuru, Yenagoa
A joint operation by troops of the joint military force deployed to protect oil facilities in the Niger Delta has confiscated a thug boat 'Aya Oba Olori II and a barge Christened 'Rampage 13' laden…
Oando shops for new capital to escape liquidation
Chibisi Ohakah, Abuja
Oando, a Nigerian oil company, has announced plans to raise fresh capital over the next two years. Although the mode of raising the new capital is not stated yet, the new capital will enable the company to offset…
ExxonMobil divests from Nigeria
…puts on sale oil and gas fields worth $3bn
Chibisi Ohakah, Abuja
The oil and gas industry in Nigeria was rattled yesterday as world largest oil exploration company by market value, ExxonMobil, confirmed its divesting from Nigeria.…
Bayelsa State starts inquiry into human, environmental impact of oil spills
Pita Ochai
Bayelsa, Nigerian’s oil-rich state, is set to tackle multinational oil companies operating in the region who have polluted its environment through oil spills. The state government recently started an inquiry into the human and…
FG set to harmonise oil, gas revenue
Pita Ochai
The Federal Government of Nigeria is set to harmonise oil and gas revenue and production of data of earnings from all sectors of the economy. To achieve this, the government through the Ministry of Petroleum Resources has set up…
Ikeja Electric sets up panel to tackle disputed bills
Pita Ochai
In an effort to mitigate customers’ complaints arising from estimated billing, Ikeja Electric has set up a “Bill Dispute Resolution Panel” (BDRP) across its Undertaking offices to help expedite cases of disputed bills.
The…
Security at Ports improves by over 68% – NIMASA
Pita Ochai
The Nigerian Maritime Administration and Safety Agency (NIMASA) has confirmed a recent improvement in security situation at the ports in the country. The Director General of the agency, Dr Dakuku Peterside, who made this known…
Oil and gas group harps on need for urgent passage PIGB
Pita Ochai
The Nigeria Natural Resource Chartered (NNRC) has raised the need for urgent passage of the Petroleum Industry Governance Bill (PIGB). The NNRC is a global initiative designed to help governments and societies effectively…
NNPC to partner major oil marketers on stable fuel supply
The Nigerian National Petroleum Corporation, NNPC, Sunday, said it will continue to strengthen its partnership with Major Marketers Association of Nigeria, MOMAN, to ensure a seamless supply of petroleum products across the country.
In a…
EKEDC apprehends impersonator, hands over to law enforcement agents
Eko Electricity Distribution Company (EKEDC) says it has apprehended one Durojaiye John Tope for extortion of money from unsuspecting energy consumers and posing as a staff of the company.
The General Manager, Corporate…
Three staff of IBEDC arraigned for setting office ablaze
By Ngozi Egenuka
Three staff of Ibadan Electricity Distribution Company (IBEDC) on Wednesday appeared before an Osogbo Magistrates’ Court for allegedly setting ablaze the IBEDC office in Ilesa.
The defendants who also assaulted some…
Elumelu’s Transcorp approves $2.5b for Nigeria’s power sector
By Ngozi Egenuka
Nigerian business mogul has approved to invest as much as $2.5 billion in power projects across Nigeria.
The chairman of United Bank for Africa Plc and Transnational Corporation of Nigeria Plc will…
South Sudan’s Ministry of Petroleum Encourages Refiners and Traders to Take Part in Upcoming Crude…
The minister also said that South Sudan would sell its crude via a competitive and transparent tender process for spot and term buyers
JUBA, South Sudan, March 20, 2019/ -- South Sudan’s Minister of Petroleum Ambassador Ezekiel Lol…
Nigerian Refinery becomes 1st in Africa to get ISO certification
…As Baru calls for sustained quality management system
By Elizabeth Uwandu
Port Harcourt Refining Company (PHRC) Limited, a subsidiary of the Nigerian National Petroleum Corporation (NNPC), has bagged the International…
Project 100 office hub to drive supplier development programmes – Wabote
The Executive Secretary, Nigerian Content Development and Monitoring Board, NCDMB Engr. Simbi Wabote, has said that the members of the recently inaugurated Project Management Office (PMO) of the Project 100 were carefully selected in view…
Stakeholders proffer solutions for effective utilisation of Eastern ports
...call for an integrated Master Plan for the transport sector
By Elizabeth Uwandu
Stakeholders at strategic group meeting organized by the Nigerian Chambers of Shipping in Lagos have called for the revitalization of the Eastern ports…
FG commences first phase PH Refinery’s rehabilitation
Chibisi Ohakah, Abuja
Nineteen years after the last Turn Around Maintenance (TAM) exercise of the nation’s premier refining plant, the Nigerian National Petroleum Corporation (NNPC) has commenced the first phase of the rehabilitation of…
International Women’s Day: Sahara makes case for girl-child education
Peace Obi
The Managing Director of Asharami Energy, a Sahara Group Upstream Company, Olajumoke Ajayi has urged regional and global stakeholders to invest in the education of women to ensure they are empowered to take on the critical role…
Investments in oil industry on a gradual rebound – Barkindo
The investments needed to ensure stability in the global oil industry are returning after a downturn, but the pace is still slow, OPEC Secretary General Mohammed Barkindo said.
Barkindo was talking to Reuters and an Azeri TV station Real…
NNPC issues directives on 2019-2020 crude-for-crude swap tender
The Nigerian National Petroleum Corporation, NNPC, has issued its 2019 -2020 crude-for-product swap tender.
According to the state-owned oil company through its official Twitter account, the tender will close on May 2 at noon.
The…
Nigeria’s power sector loses N108bn revenue in 3 months
Nigeria’s power sector has lost N108.652 billion revenue between January and March due to various constraints, representing an increase of about N10.924 billion or 11.17 per cent from the revenue lost during the same period in…
NAPTIN commences training of 600 TCN engineers
The National Power Training Institute of Nigeria (NAPTIN) has commenced the training of 600 engineers of the Transmission Company of Nigeria (TCN), under the joint collaboration between NAPTIN and TCN. The training of…
Oilserv Group commissions new office complex
The Oilserv Group commissioned a new corporate office complex sited in the premises of the registered base in Port Harcourt, Rivers State, Nigeria. The magnificent edifice, which was officially commissioned for business by Rev. Timothy…
UNN uses organic waste to install 100KVA Refuse Driven Fuel on campus
As part efforts to ensure stable power supply within the campus through other sources, the University of Nigeria Nsukka (UNN) has set the record of electricity generation by using organic waste to install 100KVA Refuse Driven Fuel (RDF)…
Cabotage Implementation: NIMASA, Stakeholders move to achieve five-year waiver cessation plan
Pita Ochai
As part of efforts to actualise the full implementation of the Cabotage Act, 2003, which aims to promote indigenous participation in shipping in Nigeria, the Nigerian Maritime Administration and Safety Agency (NIMASA)…
Kolmani River-II Well drilling hits 6,700ft from 14,200ft target
Chibisi Ohakah, Abuja
Drilling activities at Kolmani River-II Well in Gongola Basin, Upper Benue Trough, has reached 6, 700 feet.
The Gongola Basin is one of the six basins that President Buhari mandated the Nigerian National…
OGTAN in Collaboration with NCDMB holds annual conference
Peace Obi
The Oil and Gas Trainers Association of Nigeria (OGTAN), recognizes the link between the quality of a nation’s workforce and its economic growth, against this backdrop, the Association in collaboration with the Nigerian Content…
Angola Oil & Gas 2019 Conference & Exhibition, launch pad for new investments
…Angola Government set to establish new Investment Program
Peace Obi
The Angola Oil & Gas 2019 Conference & Exhibition has been described as a critical launch pad for the Angola Government’s ambitious efforts to transform her…
APPO welcomes Africa’s new oil nations at Cape VII Congress
...Kachikwu to present group’s foundational reforms
Chibisi Ohakah, Abuja
New oil and gas discoveries throughout Africa, from Mozambique and Namibia to Senegal and Mauritania, are believed to be sparking fresh interests…
Petroleum ministry clears air, OML 11 licence not revoked
...NPDC becomes operator to expedite Ogoni clean up
Chibisi Ohakah, Abuja
There were conflicting reports last weekend that the federal government has revoked the Oil Mining Lease 11 directly linked to the protracted…
Regional integration will create jobs, solve energy challenges – Baru
… As US pledges to support Africa’s energy agenda
Chibisi Ohakah, Abuja
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has called for more integration among countries within the…
AfDB to double its climate finance to US$ 25 billion for 2020-2025
Peace Obi
The African Development Bank, AfDB has pledged to double its climate finance commitments for the period 2020-2025.
The Bank’s President, Akinwumi A. Adesina disclosed the bank's intention at the One Planet Summit that took…
NNPC records 257 or 34% increase in pipeline breaches nationwide
...posts ₦12.13bn trading surplus
Chibisi Ohakah, Abuja
The Nigerian National Petroleum Corporation, NNPC has confirmed that it recorded 34% increase in pipeline breaches nationwide as at last December.
Within the period, 257…
How NIMASA, NLNG saved MV ORC4 vessel from sinking
By Peace Obi & Elizabeth Uwandu
Nigerian Maritime Administration and Safety Agency, NIMASA has stated its rescue operation with assistance from Nigerian Liquified and Natural Gas, NLNG saved the alleged distressed vessel; MV ORC4 from…
Baru welcomes foreign investors to Nigeria’s untapped ultra-deep terrain
… Reveals 41bn barrels of crude oil, 319 cubic ft gas yet untouched
By Chibisi Ohakah, Abuja
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, has called on foreign investors to explore…
Chevron signs gas sale, aggregation with Dangote Fertilizer
Peace Obi
The Nigerian National Petroleum Corporation, NNPC and Chevron Nigeria Limited, CNL have signed a Gas Sale and Aggregation Agreement (GSAA) with Dangote Fertilizer Limited (DFL) and Gas Aggregation…
Seplat releases financial result, depicts brighter future
Ngozi Egenuka
Seplat has released its 2018 financial result and an operational update that predicts solid growth in years to come.
The Chief Executive Officer (CEO), Seplat, Austin Avuru, commenting on the results said, “Seplat has…
Italian court delays trial of Malabu oil deal suspect
Pita Ochai
The trial of Abubakar Aliyu, a principal suspect in the controversial Malabu oil scandal before a Milan court in Italy was delayed on Wednesday, March 13. Aliyu is alleged to have acted as a “middleman” for top officials of…
We need more women in Maritime
Elizabeth Uwandu
The Controller of the Command, Apapa Area Command of the Nigeria Customs Service (NCS), Comptroller Bashir Abubakar, has called for more women participation in the maritime sector/
Controller Abubakar while praising the…
Why FG should create incentives for indigenous ship owners – NIMASA DG
Elizabeth Uwandu
Dr Dakuku Peterside, Director-General, Nigerian Maritime Administration and Safety Agency (NIMASA), has stated that the body will continue its discussion with the federal government on the need to create…
IBEDC upgrades services, urge customers to be civil in lodging complains
Ngozi Egenuka
The Ibadan Distribution Company (IBEDC) recently upgraded two distribution Substations at Awujale and GRA Distribution Substations in Ijebu-Ode Business Hub under Ogun region of its franchise areas.
In view of this upgrade,…
EEDC emerges best in safety rating for 2018
Ngozi Egenuka
The Nigerian Electricity Management Services Agency (NEMSA) has awarded Enugu Electricity Distribution Plc (EEDC) overall first position in the 2018 cumulative safety ranking.
The Head of Communications, EEDC, Mr…
8 months gone, $4.3bn NLNG Train 7 yet to take off
Chibisi Ohakah, Abuja
Confusion seems to have surrounded Train 7 of the Nigeria Liquefied Natural Gas (NLNG) resulting in an eight months take-off delay after the signing of the front end engineering design. Yet the NLNG says the…
Chevron Reinforces its Commitment to Socio-Economic Development of Nigeria
The Nigerian National Petroleum Corporation (“NNPC”) and Chevron Nigeria Limited (“CNL”) have signed a Gas Sale and Aggregation Agreement (“GSAA”) with Dangote Fertilizer Limited (“DFL”) and Gas Aggregation Company of Nigeria Limited…
2019 NOGOF holds in NCDMB’s New Headquarters April 4-5
Nigerian Oil and Gas Opportunity Fair (NOGOF) another milestone achievement by the Nigerian Content Development and Monitoring Board, NCDMB to maximize investments into the Nigerian oil and gas industry for the benefit of the Nigerian…
SNEPCo’s performance excites partners
…as company publishes its deep-water journey
The government partner of the Shell Nigeria Exploration and Production Company (SNEPCo) has showered encomiums on the firm for its pioneering role in the deepwater sector of the Nigerian oil…
European Union to launch €30 million sustainable energy investment fund in Nigeria
Peace Obi
The European Union (EU) has said that it would launch a 30 million Euro sustainable energy investment fund in Nigeria. This was disclosed by the former National Chairman, Nigerian Institute of Electrical and Electronics…
2018 PNC ends with impressive NC achievements, call for more collaboration
The 8th Practical Nigerian Content (PNC) Forum that held in Yenago, Bayelsa State ended on a high note with impressive records of landmark achievements by the Nigerian Content Development and Monitoring Board (NCDMB). This is in addition to…
Back your support for women inclusiveness with policy statement, Zigma CEO tells Govt
Funmi Ogbue is the Chief Executive Officer of Zigma Nigeria Limited with decades of work experience that is laced with an excellent career history of outstanding performance both as an employee and even currently as an employer of…
The success story of International Energy Services Limited as narrated by DR DIRAN FAWIBE
It is usually difficult to get a Chief Executive officer of a renowned oil and gas company to freely tell his own story in view of the peculiar nature of the business and the prevailing dearth of information and competitive tendencies in…
NCDMB Celebrating Achievements with Deluge of Awards
Nigerian Content Development and Monitoring Board (NCDMB) unique strategies in overseeing the implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act has resulted in an ever-growing success story of improved…
Gas shortage, others contribute N44.3bn power sector loss
By Ngozi Egenuka with agency report
The Nigerian privatised power sector, last month, lost a total of N44.38 billion revenue due to constraints which included shortage of gas, grid unreliability and distribution limitations. As a…
Nigeria breaches OPEC oil quota despite pledge to cut production
Chibisi Ohakah, Abuja
Nigeria is believed to have pumped more crude oil in February than the quota allocated to the country by the Organisation of Petroleum Exporting Countries (OPEC).
Last December, OPEC and 10 non-OPEC countries agreed…
Multinational oil firms delay Ogoni clean up
…Pay only $180m of the $1bn cleanup fund
Chibisi Ohakah, Abuja
International oil companies (IOCs) have been accused of holding up the orchestrated Ogoni Cleanup fund, having contributed just about $180 million (about N64.8 billion) of…
FG loses $1.9bn to Shell shutdown of Trans Ramos pipeline
Chibisi Ohakah, Abuja
The Federal Government is believed to have lost over $1.9 billion from crude oil sale since the shutdown of the Trans-Ramos Pipeline eight months ago by Shell Petroleum Development Company. Shell announced last year…
APPO CAPE VII Conference: Equatorial Guinea President, APPO President, OPEC Secretary-General, other…
Peace Obi
Top oil and gas executives, African continent’s leading energy ministers as well as international policy leaders will on April 2-5, 2019 converge at Malabo, the capital city of Equatorial Guinea for the 7th African Petroleum…
NEITI alert: FG loses $28bn due to non-review of 26yr-old PSCs
Chibisi Ohakah, Abuja
The Nigeria Extractive Industries Transparency Initiative (NEITI) has called for an urgent review of the Production Sharing Contracts, PSCs to stem the huge revenue losses to Nigeria, revealing that the country lost…
80% of Contracts in Nigeria oil and gas industry goes to local contractors – Wabote
...Despite delay in passage of PIGB, FIDs, investments still happen
Peace Obi
The Executive Secretary, Nigerian Content Development and Monitoring Board, Engr. Simbi Wabote has said that almost 80 per cent of the contracts in the…
FG loses $1.9bn to Shell shutdown of Trans Ramos pipeline
By Chibisi Ohakah
The federal government is believed to have lost over $1.9 billion from crude oil sale since the shutdown of the Trans-Ramos Pipeline eight months ago by Shell Petroleum Development Company. Shell…
NNPC boss accuses staff of deliberate violation of Procurement Act
…vows to deal with staff engaging in contract splitting
Chibisi Ohakah, Abuja
The management of the Nigerian National Petroleum Corporation, NNPC has expressed worry at the corruption level in the Corporation’s procurement department.…
NOSDRA begins investigation into explosion at Neme Creek Oilfields
By Kenechukwu Obiajuru, Yenagoa.
National Oil Spills Detection and Response Agency (NOSDRA) says it has commenced investigations into the possible cause of an explosion at Nembe Creek Oilfields within OML 29 operated by Aiteo Eastern…
Aiteo is frustrating investigation into explosion at Neme Creek Oilfields – NOSDRA
Kenechukwu Obiajuru, Yenagoa.
National Oil Spills Detection and Response Agency (NOSDRA) has said that operator of Nembe Creek Oilfields within OML 29 is resisting its efforts to probe the cause of Friday’s explosion in Nembe.
Mr…
Security agencies trail fraudulent oil marketers, recover N771m forfeited assets
Chibisi Ohakah, Abuja
Security agencies are on the trail of oil marketers who had underpaid for petroleum products supplied to them from Petroleum Products Marketing Company (PPMC) Kaduna Depot, of which assets worth over N771million have…
Equatorial Guinea to host AfDB’s 2019 Annual Meetings
Peace Obi
Equatorial Guinea readiness to host the 2019 Annual Meetings of the African Development has been confirmed. This was after the two parties signed a memorandum of understanding on the sidelines of regional consultative…
AfDB’s NORMA project nets South Sudan 14.2 million non-oil revenue for first time
Peace Obi
South Sudan, an African country whose economy is heavily dependent on oil revenue has made a remarkable achievement in its effort to diversify her economy as the country earned about US$ 14.2 million in non-oil revenue for first…
Customs ‘fast track scheme’: Defaulters to be delisted – Customs
By Elizabeth Uwandu
Importers who abused the compliance of the fast track scheme introduced by the Nigerian Customs Service, are set to be removed from the scheme.
This is as Customs through its Public Relations Officer,…
NNPC constructs new IPPs in Abuja, Kaduna and Kano
...Targets additional 4,000megawatts to national grid
By Chibisi Ohakah, Abuja
Nigerian National Petroleum Corporation (NNPC) is building additional Independent Power Plants (IPP) in Abuja, Kaduna and Kano, expected to contribute about…
Why CBN bar textile importers from accessing forex
By Elizabet
In a bid to promote local manufacturing, the Central Bank of Nigeria (CBN) has placed restrictions on the
sale of foreign exchange to importers of textiles and other clothing materials.
The CBN Governor, Godwin Emefiele,…
NIMASA committed to developing blue economy
...Charges Media on investigative journalism
The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA),Dr. Dakuku Peterside, has reiterated that the Agency remains committed to growing the ideals of the…
Good news as Enugu Disco set to improve power supply in South East
By Ngozi Egenuka
Electricity consumers in Awka, Anambra State and Owerri, Imo State will soon begin to enjoy improved power supply due to the level of investments the Enugu Electricity Distribution Plc (EEDC) has made towards…
Nigeria’s power generation drops 3456MW, losing 1,108MW
By Ngozi Egenuka with Agency Report
Electricity generation in the country plunged to 3,456 megawatts on Tuesday, losing 1,108MW in seven days, according to the latest data.
Total power generation dropped from 4,564.60MW as of…
Aiteo confirms explosion at Nembe Creek oil export pipeline in Bayelsa
By Kenechukwu Obiajuru, Yenagoa.
Aiteo Exploration Ltd, operator of the 97-kilometre Nembe Creek Trunk Line (NCTL) has confirmed Friday’s explosion on the crude export pipeline.
Aiteo officials said that the resulting fire from the…
Oil sector dominates Illicit Financial Flows as FG loses $18bn annually
Chibisi Ohakah
Nigeria Extractive Industries Transparency Initiative (NEITI) has stunned economic observers with the report that the country loses between $15 and $18 billion every year to Illicit Financial Flows , of which…
JOB Vacancy : Construction Supervisor- Civil
JOB TITLE: Construction Supervisor- Civil
LOCATION: BONNY
The Job
Execute construction (civil) activities of Plant or Infrastructure projects in the approved portfolio to agreed
standards (Cost, Schedule, and Quality), ready to…
UAE Minister of Energy, Industry Wins “International Oil Diplomacy Person of the Year 2018”
Peace Obi
The UAE Minister of Energy and Industry, H.E. Suhail Al Mazrouei, has won the International Oil Diplomacy Person of the Year 2018 award. The award was presented to Mazrouei in London today (Thursday) at the Energy Institute’s …
Nigeria becomes largest importer of gasoline from China
Chibisi Ohakah
Nigeria became the largest of buyer of gasoline from China with 51,000 mt of gasoline imported from the Asian country in January 2019.
While it is the first such export to any African country, latest data from General…
Rising geopolitical tensions across the world, challenge to stable oil market – OPEC
...Sets to propose a charter
By Ngozi Egenuka and Elizabeth Uwandu
As the tussle for balance in oil pricing and its stability continue, the Organisation of Petroleum Exporting Countries (OPEC) has lamented that…
700 firms jostle for 178 gas flare sites in Niger Delta
...as FG targets $3.5bn investments, annual GDP impact of N$1bn
By Chibisi Ohakah
Federal Ministry of Petroleum Resources has confirmed that over 700 firms have registered on the Nigerian Gas Flare Commercialization Programme…
We need investors to manage Tin Can Island – NPA
By Elizabeth Uwandu
The burden of trailers packing indiscriminately on major roads would soon be over. This is as the management of Nigerian Port Authority is seeking private investors to manage trailer park at the Tin Can Island Port,…
Our global focus is getting women involved in Maritime – Peterside
By Elizabeth Uwandu
In a bid to blur the gap of gender disparity in the Maritime sector, Director General, Nigerian Maritime Administration and Safety Agency, NIMASA has vowed to get more African women involved in the industry.…
International Women’s Day: Ethiopian Airlines to fly all-women crew
By Elizabeth Uwandu
History will be made as Ethiopian Airlines, Africa’s largest Airline is set to operate an all-female crew flight on its Addis Ababa- Stockholm-Oslo route to mark the International Women’s Day (IWD) on March 8.
The ET’s…
Talent summit: Convert human resources to productive capital – Stakeholders told
Peace Obi
The organisers of the Africa Oil and Gas Talent have called on human resources experts, manpower development organisations and stakeholders in Nigeria’s oil and gas industry to gear up more effort towards transforming available…
Mikano operations rooted in local content
Peace Obi
Mikano International Limited has reiterated its commitment to local content policy implementation, stating that the power generation company remains avid to government policies that benefit the economic growth and development…
Again, SA Energy Minister Jeff Radebe to present keynote address at African Utility Week, POWERGEN…
...Mother City to welcome back 10 000+ energy and water professionals
As part of the efforts at addressing the current landscape of water and energy projects all over the subcontinent, the organizers of African Utility Week and POWERGEN…
Nigeria joins Saudi’s crave for cut in oil production
Pita Ochai
Nigerian government has expressed willingness to go along with Saudi Arabia in the initiative to limit oil output to push up prices in the global market. While receiving the Saudi Arabian minister of state for African Affairs…
Nigeria’s oil may shake market price
Pita Ochai
Nigeria is about to ship the first cargo of crude oil from a new deposit about 90 mi off its coast. The 1 MMbbl consignments, which will head toward the Dutch port of Rotterdam, comes at a tricky moment for the country, given…
$55m debt: Agip knows fate April 30
.....FG demands payment with 21% interest from 2014
Oil giant, Agip will know its fate on April 30, in the case between the company and the federal government of Nigeria in a $55 million debt recovery suit filed…
Violence, irregularities characterised 2019 general election
Peace Obi
Pockets of violence have been reported from the various polling units during the 2019 general election that held across the federation. Reports from different states like Lagos, Rivers, Delta, Abia, Ondo, Kogi, Bayelsa, among…
Ghana earns US$ 813.95 million from 2018 oil lifting
In 2018, Ghana earned a total of US$ 813.95 million from crude oil exports representing lifting proceeds received into the Petroleum Holding Fund (PHF). This is according to Bank of Ghana’s (BoG’s) Petroleum Holding Fund and Ghana Petroleum…
Ikeja DISCO threatens to withdraw services from hostile customers
The Ikeja Electricity Distribution Company (DISCO) has threatened to withdraw its services from identified hostile customers and communities if the lingering spate of attacks and threats on their staff on lawful duty persist.
The…
Equatorial Guinea joins Extractive Industry Transparency Initiative
By Ngozi Egenuka
Equatorial Guinea has taken a decisive step towards joining the Extractive Industry Transparency Initiative (EITI) after a decade’s effort to be part of the organisation.
Having initially applied for membership in 2008,…
ExxonMobil petroleum agreement laid in parliament
A petroleum agreement between government, the Ghana National Petroleum Corporation (GNPC), ExxonMobil and GOIL Offshore, in respect of Deepwater Cape Three Points Block (DWCTP), has been presented to parliament by Minister for Energy, John…
NNPC craves deeper collaboration between NSE and the oil industry
…receives applause for championing cause of women engineers
By Chibisi Ohakah
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Baru Maikanti has tasked the Nigerian Society of Engineers (NSE) to find…
NIMASA, others accused of lacking commitment to maritime sector growth
Stakeholders have accused the Nigerian Ports Authority, NPA, Nigerian Maritime Administration and Safety Agency, NIMASA, and the Nigerian Shippers’ Council, NSC, of lacking commitment to the growth of the maritime sector.
They laid the…
Petrol suppliers cut price to encourage Nigerians to travel to vote again
Nigerian fuel suppliers have cut the price of petrol to encourage people to travel to vote in presidential elections this Saturday after the poll was delayed by a week, the information minister said on Wednesday.
The electoral commission…
‘Ghana Must Go’ pay back, as Ghana deports 723 Nigerians
By Elizabeth Uwandu
The government of Ghana has deported about 723 Nigerians over offences such as illegal stay, cybercrime and prostitution.
However, Orient Energy Review Magazine gathered that Nigeria’s High Commissioner in Ghana,…
4 Degrees Most Oil Companies Are Looking For
Even with crude oil at a seven-year low in early December 2015, oil companies are still recruiting on college campuses and interviewing students with the fields of study most in demand.
The wave of early…
IPMAN denies slashing pump price
By Elizabeth Uwandu
Contrary to the news making round of the Independent Petroleum Marketers Association of Nigeria (IPMAN) slashing pump price from N145 to N140 to cushion the effect of the postponement of February 16…
Nigeria & China to lead global refining industry – report
By Chibisi Ohakah
An expert report has predicted that Nigeria and China would become major contributors to the global refining industry capacity growth from planned and announced projects between 2019 and 2023.
In a report…
KCAD Awarded $110m land drilling contracts in Nigeria, Middle East, Russia
By Ngozi Egenuka with Agency report
Aberdeen based drilling contractor, KCA Deutag (KCAD), has announced that its land drilling operation has won new contracts and contract extensions worth approximately $110m. These contracts are for…
GlobalData provides glimpse on Shell’s move on Bonga Southwest/Aparo deepwater
Chibisi Ohakah
An upstream oil and gas analyst with GlobalData, a leading data and analytics company, Cao Chai, has offered her view on the Bonga Southwest/Aparo deepwater project. This follows the news mid-February that Royal Dutch Shell…
NERC orders 11 DisCos to complete customers’ survey in 42 days
The Nigerian Electricity Regulatory Commission (NERC) has instructed all the power Distribution Companies (DisCos) in the country to complete the listing of their customers by March 31, 2019.
Electricity consumers were also urged to…
NCDMB to issue tender for NLNG Train 7 in April
By Chibisi Ohakah
Nigeria Liquefied Natural Gas Limited (NLNG) has issued a notice to release the Invitation to Tender (ITT) for the NLNG Train 7 project in April this year. The Executive Secretary of the Nigerian Content Development and…
FG slashes fuel price by N5 to cushion effect of election postponement
By Elizabeth Uwandu
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has directed its members nationwide to reduce petroleum pump price from N145 per litre to N140.
The directive according to IPMAN National…
Customs officers kill traveller over N5,000
...NCS claims victim was officers' friend
...As Nigerians blame Customs over extrajudicial killings
By Elizabeth Uwandu
A young man yesterday lost his life in an altercation that ensued between Nigeria Customs Service, NCS and…
Nigeria Customs gets forensic kits to detect illegal wildlife trade
By Elizabeth Uwandu
As part of the efforts to fight illegal trafficking of wildlife trade in the country, the Minister of Environment, Suleiman Zarma has handed over six forensic toolkits to Nigeria Customs Service, NCS.
In a statement…
INEC postpones Nigeria’s general election to February 23
Peace Obi
The 2019 general elections originally schedule for today, Saturday February 16 has been shifted to February 23, 2019, the Independent National Electoral Commission has said.
The INEC Chairman, Professor Mahmood Yakubu who…
If Buhari wins, we will go back to creeks, disrupts economy – Niger Delta Avengers
By Elizabeth Uwandu
Going by the threat of Niger Delta Avengers to allegedly cause mayhem if President Muhammad Buhari re-election bid succeed in tomorrow's election, Nigeria may need to be vigilant.
Niger Delta Avengers, a…
Nigeria: Upcoming elections decelerate activities in maritime industry
Nigeria’s upcoming general elections have slowed down activities in the country’s maritime industry, as key government parastatals and agencies in the sector are headed by politicians.
A group, known as Masters Mariners Association, MMA,…
Total’s Startupper Challenge energising young entrepreneurs’ ideas
Pita Ochai
After the jury of local experts selected the winners of the 2018-2019 Startupper of the Year by Total Challenge in Nigeria, they were presented with their awards at an official ceremony held on February 13 at…
Nigerians enjoy least benefit from Oil PSC in the World – NNRC
...As Obsolete oil, gas laws leads to loss of $18 billion
Pita Ochai
The Nigeria Natural Resource Charter (NNRC) has revealed that Nigeria has lost an estimation of $18 billion to obsolete oil and gas laws she has kept. That Nigerians…
Oil supply to swamp demand in 2019 despite output cuts – IEA
Pita Ochai
The global oil market will struggle this year to absorb fast-growing crude supply from outside OPEC even with the group’s production cuts and U.S. sanctions on Venezuela and Iran, the International Energy Agency said in a…
Shell, NNPC open Bidding for $10bn Bonga South West project
Peace Obi
The Nigerian National Petroleum Corporation (NNPC) and Shell Nigeria Exploration and Production Company (SNEPCo) have invited prospective bidders to submit their tender for the execution of $10 billion Bonga South West/Aparo…
Nigeria to seek technical assistance from India on refineries repair.
The Nigerian National Petroleum Corporation, NNPC has indicated that Nigeria would need India's technical assistance in the repairs of the country's refineries.
The Group Managing Director of NNPC, Dr Maiktanti Baru disclosed…
Ibafo Women’s threat to bare their breast to IBEDC results to improved power supply to…
Peace Obi
Residents of Ibafo community in Ogun State are suddenly witnessing improved power supply in the area after their women threatened to bare their breast to the management of Ibadan Distribution Company in protest for the Disco's…
FG adopts crude oil tracker, recovers N1.2tln in royalty arrears
Chibisi Ohakah
The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, has said that the newly adopted Crude Oil Liquefied Natural Gas Tracker (COLT) has already yielded results with the recovery of about N1.2 trillion in royalty…
N904bn funding gap threatens vessels acquisition by Nigerian shipowners
The Nigerian shipowners will need an additional N904 billion to the N36 billion accrued in the Cabotage Vessels Financing Fund (CVFF) to acquire vessels needed for the maritime industry in the next four years, a report has shown.
This…
Why we cancel Cabotage waivers – NIMASA
...insist on prosecution of defaulters
By Elizabeth Uwandu
The need to encourage more Nigerians in the Maritime sector, and to regularise unauthorised operation in the country's territorial waters formed the directive to clamp down…
Chevron 2012 rig explosion: Koluama youths seek out of court resolution of conflict
Kenechukwu Obiajuru, Yenagoa.
Seven years after a gas explosion at Chevron’s oilfield off Bayelsa coastline, youths from Koluama have proposed an out of court settlement of conflicts caused by the incident of January 2012.
The…
Nigerian widow testifies against Shell in The Hague
Ngozi Egenuka with agency report
The widow of a Nigerian activist who suing an oil giant, Shell over the execution of her husband has tesified against the oil company saying that her husband's death left her "traumatised" and…
Power failure: Nigeria’s crude prices may crash further this week
Prices of Nigeria’s crude grades may crash further downwards this week due to persistent power failure at the export facility, sources close to the matter told SweetcrudeReports.
Power failure which began early last week is yet to be…
Navy destroys 637 illegal refineries in N’Delta
The Nigerian Navy (NN) says it has destroyed no fewer than 637 illegal refineries in the Niger Delta in 2018, through “Operation River Sweep’’.
The Chief of Naval Staff, Vice Admiral Ibok-Ete Ibas, disclosed this on Monday in Abuja, while…
Estimated billing to be criminalized – Reps
By Elizabeth Uwandu
The outcry by Nigerians over outrageous estimated billing system by the Electricity Distribution Companies Discos may soon be over as members of the House of Representatives recently passed a bill that seeks to…
NNPC boss forecasts end of gas flaring in Nigeria
Chibisi Ohakah
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru has described the $60 million Egbeoma Gas Processing Plant as the harbinger of the end of gas flaring in Nigeria, adding that…
SERAP responds to Fashola’s ‘no corrupt’ electricity contractor
Ngozi Egenuka
Socio-Economic Rights and Accountability Project (SERAP) has said that attempts to limit disclosure of information of public interest would weaken the government’s commitment to transparency and accountability.
This was…
Shell reacts to ultimatum, says it won’t return to Ogoniland
Peace Obi
Shell Petroleum Development Company of Nigeria (SPDC) has reacted negatively to the 14-day ultimatum issued to it by Ogoni general assembly under the aegis of Conscience of Ogoni People, COOP to open dialogue with the Ogoni…
Ghanaian President to Investors: “Make mining deals more beneficial for Africa’
Ghanaian President Nana Akufo-Addo has demanded that mining deals be more beneficial for Africa on Tuesday, calling on governments to end fiscal incentives traditionally used to attract investment to countries long viewed as rife with risk.…
TCN commissions first offshore substation
By Elizabeth Uwandu
The Transmission Company of Nigeria, TCN, yesterday, commissioned its first offshore substation in Ilashe Island, Oriade Local Government Development Area (LCDA), in Lagos State.
The project being the first…
$799m upstream petroleum contracts awarded to Ghanaian companies
A total of $799 million worth of contracts in the upstream petroleum industry was awarded to indigenous Ghanaian companies and joint ventures last year in accordance with the Local Content and Local Participation law.
Out of the amount,…
25 years after, Ogoni seek Shell’s return to community
Peace Obi
Twenty-five years after leaving Ogoniland, Shell Petroleum Development Company of Nigeria (SPDC) has been given a 14-day ultimatum by the Ogoni people under the aegis of Conscience of Ogoni People (COOP) to open dialogue with the…
Ambitious oil pricing will rupture Nigeria 2019 budget – ICAN
Chibisi Ohakah, Abuja
The Institute of Chartered Accountants of Nigeria (ICAN) has said that whereas the projections for crude oil price and production as captured in the proposed budget were very ambitious, and that the…
NNPC to improve gas resources exploration
By Elizabeth Uwandu
The Group Managing Director, GMD, Nigerian National Petroleum Corporation (NNPC), Mr Maikanti Baru has reiterated the Federal Government’s plan to rigorously upgrade the country’s gas resources for economic growth.…
Maritime safety, bane of nation’s economic, political development – NIMASA
By Elizabeth Uwandu
The Director-General of Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Dakuku Peterside, has said the adherence of proper safety measures in the Maritime sector enhance successful utilisation of the…
NNPC to improve gas resources exploration
By Elizabeth Uwandu
The Group Managing Director, GMD, Nigerian National Petroleum Corporation (NNPC), Mr Maikanti Baru has reiterated the Federal Government’s plan to rigorously upgrade the country’s gas resources for economic growth.…
Liberalise downstream sector end subsidy, stakeholders tell govt
Peace Obi
To free the country from the huge financial burden subsidy places on the country as result of massive fuel importation, the Federal Government has been called upon to liberalise the downstream sector of Nigeria’s oil and gas…
Tesla Set for Nigerian Market
Pita Ochai
TESLA, a United States electric car maker and clean-energy company will introduce batteries that can power homes and businesses in Nigeria. This would allow consumers in remote areas that are not on a power grid to access a more…
SAHARA GROUP, CHERIE BLAIR QC, CBE, DISCUSS PROMOTION OF SDGS IN AFRICA
Leading energy conglomerate, Sahara Group is set to explore opportunities with Cherie Blair in a bid to enhance sustainable development in Africa through access to technology, education and food security.
Group Managing…
Dangote Refinery won’t sell petrol at regulated price – Aliko Dangote
Peace Obi
The speculation on whether Dangote refinery will sell its refined premium motor spirit on government-regulated price has been laid to rest.
The President of Dangote Group, Alhaji Aliko has disclosed that Dangote Refinery…
OPEC pursues formal pact with Russia
Saudi Arabia and the United Arab Emirates (UAE) are trying to lock in Russia and other non-OPEC allies into several years of co-operation for managing the oil market, according to Wall Street Journal (WSJ).
The move is not unconnected…
Why we reclaimed dormant oil fields – Kachikwu
Pita Ochai
... Indigenous operators’ contribution to national oil production now at 11%
Reveals indigenous operators’ contribution to national oil production to be around 11%
The need to raise funds and grow the contributions of…
NNPC, Nigeria Police in fresh pact to protect oil pipelines
Chibisi Ohakah, Abuja
Nigerian National Petroleum Corporation (NNPC) has announced the collaboration with the Nigeria Police towards combating the perennial menace of oil theft and pipeline vandalisation across the country. Details of the…
NNPC increases gas supply to gas fire-power plants
…Monthly trading surplus shots up to ₦2.06bn
Chibisi Ohakah, Abuja
Nigerian National Petroleum Corporation, NNPC has confirmed that a total of 735 million standard cubic feet (mscf) of gas per day was delivered to gas fired-power plants…
African Energy Chamber endorses Cape VII Congress in Malabo
Chibisi Ohakah, Abuja
The African Energy Chamber has announced its endorsement of the African Petroleum Producers Organisation Cape VII Congress and Exhibition to be held in Malabo early in April.
The Equatorial Guinea’s Minister of…
Exploration in six basins commence with Kolmani-II prospect
Chibisi Ohakah, Abuja
Nigerian National Petroleum Corporation (NNPC) has been mandated to extend its crude oil exploration to six basins in Nigeria. President Muhammadu Buhari gave the directive at Barambu town in the Bauchi…
FG to ban tomato paste importation
By Elizabeth Uwandu
Minister of Agriculture, Audu Ogbeh has said that the Federal Government will ban the importation of tomato paste before the end of this year.
Ogbe disclosed this yesterday, as reported by Daily Trust while…
NPA MD bags appreciation award
By Elizabeth Uwandu with Agency Report
The Managing Director, MD, Authority (NPA), Hadiza Bala-Usman, has received Appreciation Award by the Senior Staff Association of Statutory Corporations and Government Owned Companies, SSASCGOC, …
Bayelsa community raises alarm over SPDC’s breach of spill compensation
By Kenechukwu obajuru, Yenagoa
The people Aghoro 1 community in Ekeremor local government area of Bayelsa has kicked against the breach of oil spill procedures in the leak that occurred in the area on May 17, 2018. It would be recalled…
FG targets $40bn from Project 100
……..selected firms to get institutional incentives
By Chibisi Ohakah, Abuja
The Federal Government has assured that it would offer institutional support to the 60 local oil and gas companies selected from the maiden edition of Project…
MSC seafarers kidnapped off Cotonou regain freedom
Peace Obi
The Mediterranean Shipping Company (MSC) has confirmed the release of six seafarers kidnapped off one of its ships, the MSC Mandy, off Cotonou, Benin Republic in January.
This was contained in a statement issued by MSC on…
Port Service Providers kick against introduction of registration fee by Nigerian Shippers’…
Peace Obi
The various bodies that makes up port service poviders including shipping lines, freight forwarders have kicked against the introduction of a new registration fee by the Nigerian Shippers’ Council (NSC).
The stakeholders,…
Total plans massive oil exploration drive in Africa, South America this year
This year, the company intends to drill 23 wells in waters off Mauritania, Senegal, Namibia, South Africa, Guyana and Brazil, senior VP for exploration, Kevin McLachlan told Reuters.
Although the company did not disclose how many wells…
Southern Sudan partners African Energy Chamber on management of her hydrocarbons
Peace Obi
The African Energy Chamber has entered into a technical assistance cooperation agreement with the Ministry of Petroleum of the Republic of South Sudan to strengthen the country’s capacity to manage its hydrocarbons…
Nigeria’s refineries not too old to operate, says NNPC
The Nigerian National Petroleum Corporation has said that the country’s refineries are not too old for effective refining operations.
Mr Kragha Anibor, NNPC Chief Operating Officer, Refineries disclosed this at a panel session at the…
FG projects 10% growth in 2019 as NIMASA Predicts more shipping activities
The Federal Government on Tuesday January 29, projected a 10 per cent growth in the Nigerian maritime industry. This was contained in the 2019/2020 maritime forecast unveiled by the Nigerian Maritime Administration and Safety Agency…
FG to generate $2b from oil, gas lease licence renewal
The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, said that the Federal Government is targeting about two billion dollars from the oil and gas lease licences renewal.
Kachikwu disclosed this while fielding questions from…
NIPS summit: Africa needs to look inwards to explore potentials in oil, gas industry
Peace Obi and Elizabeth Uwandu
Key players in the oil and gas industry gathered at the 2019 Nigeria International Petroleum Summit, NIPS have called for collaboration among Africa countries in exploring her oil and gas…
Hope for renewable energy as AfDB approves $25m equity investment
The huge potential for renewable energy in the country is mostly untapped. All around the country, there are enormous potentials in solar, hydro; wind, and biomass. But the presence of large oil and gas production in the South together…
Automobile workers kick against FG move to slash vehicles duty by 10%
Elizabeth Uwandu
The Automobile, Boatyard, Transportation, Equipment and Allied Senior Staff Association (AUTOBATE), Secretary General, Sola Olurunfemi has caution the Federal Government's move to reduce duties on imported…
$1bn renewal bonuses: DPR defends govt’s early renewal policy
The Department of Petroleum Resources, DPR, and the Ministry of Petroleum Resources have defended the $1 billion dollars (N360 Billion) early renewal bonuses policy aimed at improving revenue generation for the country.
The government…
OPEC daily basket oil price closes at $60.90 per barrel
The price of OPEC basket of fourteen crudes stood at $60.90 a barrel on Friday, compared with $60.22 the previous day, according to OPEC Secretariat calculations.
The OPEC Reference Basket of Crudes (ORB) is made up of the following:…
10,908 foreign ships enter Nigerian waters in 2 yrs, carts away $16.2bn
Not less than 10,908 vessels belonging to foreigners called at Nigerian ports between 2016 and 2017, carting away about US$16.2 billion, as a result of the lack of capacity on the part of Nigerian shipowners.
This is even as the…
Nigerian Content Policy: A True Jinx Breaker
It would certainly not be out of place for anyone to allude that Nigeria appeared jinxed at a point in her economic life. What with the depressing fact that after 50 years of oil exploration and production, there was little or nothing to…
Local Content Requirements, catalyst for value retention, development in West African sub-region
Peace Obi
The Nigerian Content Development and Monitoring Board, NCDMB has said that adherence to the Local Content Requirements (LCRs) in the implementation process of Local Content policy in the West African sub-region’s oil and gas…
Bayelsa govt bans use of oil firm’s facilities for political activities
By Kenechukwu Obiajuru, Yenagoa
The Bayelsa State Security Council has prohibited the use of assets, personnel and security operatives on attachment to surveillance contractors of oil and gas firms and any other personnel for political…
Military decries fake reports of oil facilities’ attacks in N/Delta
he Joint Task Force, Operation Delta Safe, OPDS, has decried incessant fake reports of oil facilities’ attacks by militants in the Niger Delta, saying such stories were fabricated to diminish the operations of the JTF.
Coordinator, Joint…
INTERNATIONAL PETROLEUM WEEK
ABOUT INTERNATIONAL PETROLEUM WEEK
Hosted by the Energy Institute and put together by leading industry experts, International Petroleum (IP) Week is one of the biggest events in the oil and gas calendar. More than 1,500 senior…
NAPEC 2019 – 9th NORTH AFRICA PETROLEUM EXHIBITION & CONFERENCE
NAPEC is the largest international trade fair for the oil and gas industry in Africa, dedicated to the North African market, dedicated to the activities of the Upstream, the Midstream and the Downstream and all the suppliers of products,…
2019 WAIPEC: Collaborate for bigger opportunities, NCDMB tells PETAN, others
Peace Obi
The Executive Secretary, Nigerian Content Development and Monitoring Board, NCDMB, Engr. Simbi Wabote has said that huge opportunities lying untapped in the Nigerian oil and gas industry as well as in the African region can be…
PEC daily basket oil price closes at $60.52 per barrel
The price of OPEC basket of fourteen crudes stood at $60.52 a barrel on Wednesday, compared with $60.66 the previous day, according to OPEC Secretariat calculations.
The OPEC Reference Basket of Crudes (ORB) is made up of the following:…
Nigeria ratifies 40 Conventions, domesticates 19 international laws
The Nigerian maritime sector is aligning with international best practices. The apex maritime body has revealed that it has been able to ratify 40 conventions passed by the International Maritime Organisation (IMO) and International Labour…
Gambia pushes for African integration in oil and gas sector
By Ngozi Egenuka
The Permanent Secretary, Ministry of Petroleum and Energy in Gambia, Mrs Rohie Bittaye-Darboe has urged African countries to explore intergration of infrastructure, resources and capacity utilisation in the region's oil…
NCDMB, AGF partner on Nigerian Content enforcement
The Minister of Justice and the Attorney General of the Federation, Mr. Abubakar Malami (SAN) has said that the Ministry of Justice would collaborate with the Nigerian Content Development and Monitoring Board (NCDMB) in the…
NNPC laments over increasing pipeline vandalism
The Nigerian National Petroleum Corporation, NNPC on Tuesday, lamented on the rising incidents of pipeline vandalism across the country. It disclosed that in October, its pipeline network suffered a 42.9 percent increase in vandalism …
Oil prices expected to stay anchored around $65-70 through 2023
Oil prices are expected to oscillate close to current levels well into the next decade, averaging around $65-70 per barrel through 2023, according to an annual survey of energy professionals conducted by Reuters.
Despite the recent slump…
Niger Delta University seeks for closer R&D partnership with NCDMB
Peace Obi
The Niger Delta University (NDU), Bayelsa State has sought for closer collaboration with the, Nigerian Content Development and Monitoring Board (NCDMB) particularly in Research and Development.
The Vice…
Enforcement Of Regulations, Infrastructure Deficit Bane Of Maritime Industry
Infrastructure deficit, corruption and lack of enforcement have been identified as the major obstacles on the path to developing Nigeria’s maritime industry.
In a rare convergence of opinion between operators and the government, it was…
Akwa Ibom deep seaport to take off in April
Peace Obi
The $2.5 billion Ibom Deep Seaport, a public-private partnership (PPP) project would become a reality on or before April 2019.
The Senior Special Assistant to the President on Infrastructure, Imeh Okon, disclosed this during…
Oil prices rise amidst scepticism on OPEC deal to stabilize the market
Peace Obi
Despite the scepticism that greeted the OPEC and non-OPEC allies supply cut’s deal to balance the oil market, the prices of crude oil edged up on Monday following the ongoing supply cuts from OPEC and its petro-power allies,…
Ghanaian Energy Minster to speak at a global renewable energy meeting
The Ghanaian Minister for Energy, Honourable John-Peter Amewu together with a delegation from the Ministry and Energy Commission are representing the country at the ninth session of the Assembly of International Renewable Energy Agency…
NNPC to crash prices of cooking gas
he Nigerian National Petroleum Corporation (NNPC) says it is working to crash the price of cooking gas in the country.
It said this would be done through the implementation of an effective commercial framework that…
European customers seek Nigerian crude, Chinese demand for Angola’s heats up
Demand for Angolan crude from Chinese independent refiners and for Nigerian cargoes from European customers has breathed life into the West African market, traders said on Thursday.
A drop in freight rates for shipping West African crude…
Maritime sector well-positioned as alternative revenue source – Gen. Abubakar
A former Nigerian head of state, General Abdulsalami Abubakar (rtd), says the nation’s maritime sector is well-positioned to serve as an alternative source of revenue for the Federal Government.
Abubakar, who spoke ahead of the…
Koluama Community launches manhunt for those behind false report of attack on Conoil in Bayelsa
By Kenechukwu Obiajuru, Yenagoa
The people of Koluama 1 in Southern Ijaw Local Government Area of Bayelsa have launched a manhunt for those behind the false report that an oil facility in the area was attacked on Friday.
A…
Otuokpoti Spill: NGO petitions NOSDRA, seeks best practices in remediation process
By Kenechukwu Obiajuru, Yenagoa
Oil and Gas Producing Areas Enlightenment and Empowerment Initiative (OGPAEEI) has petitioned the National Oil Spills Detection and Response Agency (NOSDRA) over a 2016 spill in Bayelsa.
It would be…
Oil climbs 2 percent; lifted by OPEC cuts, steadying stock market
Oil prices climbed more than 2 percent on Monday, rebounding further from 1-1/2-year lows reached in December, on support from OPEC production cuts and steadying equities markets.
Brent crude LCOc1 futures rose $1.13 to $58.19 a barrel,…
Deep Petroleum Industry Reforms Set Angola on Path to Growth in 2019
Key measures include the formation of upstream and downstream taskforces, the privatization of some Sonangol subsidiaries, and the creation of a new regulator to manage concessions
Reforms span from changes in tax law to changes in…
NLNG Train-7 to engage 18,000 Rivers youths – Rivers Govt
The Rivers State Government says not less than 18,000 youths will be engaged during the construction and completion of the Nigerian Liquefied Natural Gas, NLNG, Train 7 project.
The Rivers State Commissioner for Employment Generation and…
Total commences oil production at Nigeria’s 200k b/d Egina field
Total has commenced oil production from the Egina field, located in 1,600 meters water depths, 150 kilometers off the coast of Nigeria.
At plateau, the Egina field will produce 200,000 barrels of oil per day, which represents about 10%…
Nigeria continues to play a leading role in driving talks to help stabilise the market –…
JAMES SHINDI is the chief executive of Brevity Anderson, organisers of the annual Nigeria Petroleum International Summit (NIPS). In an interview with select journalists in Lagos, Shindi talks about the forth-coming NIPS 2019 conference and…
US Coast US Guard urges greater vigilance at Nigerian ports
The United States Coast Guard has called for greater vigilance at Nigerian ports.
The call was made by a visiting US Coast Guard team led by Lt. Commander Janna Ott. The delegation was in Nigeria to inspect facilities and ports.
Ott,…
Total in talks to sell North Sea oil, gas assets to private firms
French energy giant Total is in advanced talks with privately owned firms Albion Energy and First Alpha Energy Capital on the sale of some of its British North Sea assets, two industry sources said.
In July, four banking sources…
Africa’s rural electrification programme in danger of losing funding
For nearly two decades, the United States has strongly pushed for the electrification of rural areas of sub-Saharan Africa to raise the standard of living. It has carried out these goals via the USAID’s Power Africa and the World Bank, and…
Expatriates, visiting seafarers to pay $2,000 for Nigeria ‘green card’
Reports emerged weekend that the Nigerian government has increased the cost of procuring the Combined Expatriate Residence Permit and Aliens Card (otherwise known as CERPAC card or green card) to $2,000.
The card is a…
Sales Executive/ Manager- corporate sales (power back-up solutions)
Urgent RecrP
Position:
Sales Executive/ Manager- corporate sales (power back-up solutions)
Vacancies: 2
Location: 1 in Lagos and 1 in Abuja
Experience:
Must a minimum of 3-4 years in the same industry
Profile:
The…
DP World introduces intelligent container storage system
DP World is introducing a world’s first intelligent high bay container storing system touted as the disruptive technology that will radically improve operations.
DP World and industrial engineering specialist SMS Group have formed a…
Oil marketers receive N236m subsidy claims from FG
…….banks directed to freeze interest on related loansBy Chibisi Ohakah Petroleum products marketers have confirmed receiving payment of N236 billion from the federal government being the first tranche of the outstanding fuel subsidy…
Baru Directs NNPC Retail To Secure 30% Marktet Share
The Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru, has charged the Corporation Downstream company, NNPC Retail, to increase its current 14 per cent market share to 30 per cent by 2020.
…
Fashola says Discos must match govt’s N72bn expansion fund
The Minister of Power, Works and Housing, Mr. Babatunde Fashola, has provided more insight on the Federal Government’s N72 billion financial facility for the 11 electricity distribution companies or Discos for upgrade and expansion of…
OPEC daily basket oil price closes at $58.24 per barrel
The price of OPEC basket of fifteen crudes stood at $58.24 a barrel on Monday, compared with $59.07 the previous Friday, according to OPEC Secretariat calculations.
The OPEC Reference Basket of Crudes (ORB) is made up of the following:…
ExxonMobil owes Nigerian govt $1.9bn
*Addax in 5-year tax default, owing N700m
Two international oil companies operating in the country were Monday accused by the Federal Government of various levels of indebtedness to the nation and contributing to Nigeria’s economic…
KEFFES Foundation inaugurates N 24m projects in Chevron’s host communities in Bayelsa
KEFFES Foundation inaugurates N24m projects in Chevron’s host communities in Bayelsa
By Kenechukwu Obiajuru, Yenagoa.
KEFFES Rural Development Foundation (RDF) at the weekend inaugurated some 20 projects in eight…
Empower women to help save Africa from climate change
Empower women to help save Africa from climate change
Africa must unlock the power of its women and girls if it is to adapt to climate change, cope with disasters and build its green energy sector
KATOWICE, Poland, December 14, 2018/…
Shell Chairman confirmed as IP Week Dinner speaker
Charles O. Holliday, Chairman of the Board of Directors at Royal Dutch Shell plc, has today been announced as the keynote speaker and guest of honour at the IP Week Dinner 2019.
Addressing over 1,000 guests at the prestigious…
NIGERIA INTERNATIONAL PETROLEUM SUMMIT
Government
The Nigeria International Petroleum Summit is a project of the Federal Government of Nigeria. Its structure and organization received the approval of the Federal Executive Council and has the highest level…
West Africa International Petroleum Exhibition and Conference (WAIPEC)
The West African International Petroleum Exhibition and Conference (WAIPEC) will return to the Eko Convention Centre 23-24 January 2019 for its 3rd edition, as the only oil and gas event held in partnership with Nigeria’s petroleum…
NCDMB, NLNG hold knowledge sharing, capacity building workshop
The Nigerian Content Development and Monitoring Board, NCDMB, and the Nigeria Liquefied Natural Gas Company, NLNG, have held a knowledge sharing capacity building workshop in Port Harcourt, Rivers State.
The workshop is an initiative of…
Govt urged to resume work on Ogidigben gas revolution park project
The Olu of Warri, His Majesty, Ogiame Ikenwoli has enjoined the federal government to resume work on the Ogidigben gas revolution park project in Escravos.
The Itsekiri monarch spoke in his palace in Warri, Delta at a colourful ceremony…
NETZSCH expands grinding technology with new N.Mac TM Twin Shaft Grinder
NETZSCH Pumpen & Systeme GmbH experts in solutions designed specifically for difficult pumping applications, announces the new N.Mac™ Twin Shaft Grinder, designed to protect pumps and processes. The N.Mac is designed to fragment…
OPEC’s former member, Qatar to invest $20bn in U.S shale, LNG
Just when the world is coming to terms with the country’s resignation as a member of the Organisation of the Petroleum Exporting Countries, OPEC, Qatar has delved another blow, to invest $20 billion in the United States’ booming shale…
Malabu oil field: Fed govt sues Shell, Eni in London
The Federal Government said it had filed a $1.1 billion lawsuit against Royal Dutch Shell and Eni in a commercial court in London in relation to a 2011 oilfield deal in Nigeria.
The two oil majors are embroiled in a long-running…
Organization of the Petroleum Exporting Countries (OPEC) is recruiting for fulltime Energy Models…
Organization of the Petroleum Exporting Countries (OPEC) is recruiting for fulltime Energy Models Analyst.
Job Details
Organization of the Petroleum Exporting Countries (OPEC) - We coordinate and unify the petroleum policies of its…
BluePoint Global Services Limited is recruiting for fulltime Mining Geologist.
BluePoint Global Services Limited is recruiting for fulltime Mining Geologist.
Job Details
BluePoint Global Services Limited is a Nigerian company providing industry critical support services, specializing in oil and gas, information…
Privatising Kaduna Refining Plant not guarantee to optimal performance – MD
Kaduna – Mr Adewale Ladenegan, Managing Director, Kaduna Refining and Petrochemical Company (KRPC) says privatization is not an option to putting the refinery to optimal use. Ladenegan stated this on Wednesday while interacting with members…
Post-OPEC Deal: Oil price stability raises hope for budget benchmark
Hopes that the 2019 federal budget oil price benchmark would not be completely eroded appears strengthened as oil prices sustain stability days after output cut by members of the oil producing nations’ cartel, the Organisation of Petroleum…
Total stimulate local commerce, commissions malls for host communities
As a part of its commitment to support and stimulate local commercial activities within its host communities, French multinational, Total Exploration and Production Company Nigeria Limited, TEPNG, has commissioned two shopping malls for her…
Court adjourns HYPREP’s $10m Ogoni clean-up case to January
The Federal High Court sitting in Port Harcourt, has adjourned the case filed by Ogoni Youth Federation, OYF, against the Hydrocarbon Pollution Remediation Project, HYPREP, and the Federal Ministry of Environment, over $10 million Ogoni…
Oil pares gains as U.S. inventory draw smaller than expected
Oil pared gains Wednesday after U.S. crude inventories fell less than expected, but remained supported by a cut in Libyan exports and an OPEC-led deal to trim output.
U.S. crude stockpiles fell by 1.2 million barrels in the week to Dec.…
Switch to electric cars to cost Germany 114,000 jobs, study shows
A transition to e-mobility would cost Germany around 114,000 jobs in the long term, according to a study released Wednesday.
The car-building sector in particular would be affected, with 83,000 positions struck off, the…
Total Launches a Pioneering Line of Fluids for Electric and Hybrid Vehicles
Paris – Total is consolidating its position as key player in electric mobility by launching today an innovative line of fluids for electric and hybrid vehicles. Produced thanks to important efforts of the Group’s R&D…
Exxon, Chevron seek to exit Azerbaijan’s oil after 25 years
Exxon Mobil and Chevron are seeking to sell their stakes in Azerbaijan’s largest oilfield, marking the retreat of the U.S. majors from the former Soviet state after 25 years as they re-focus on domestic production.
Exxon is hoping to…
Dependence on oil doomed our development – Okwuosa
Patrick Egwu, Enugu
The Chief Executive Officer of Oilserv Nig Ltd, Engr Emeka Okwuosa has described Nigeria's sole dependence on oil as her means of foreign exchange as one of the factors responsible for the country's economic…
Nigeria to partner other African countries on ‘safe ocean’
The Federal Government of Nigeria has expressed its readiness to cooperate with other African countries and development bodies to advance the continent’s prosperity through the safe and sustainable use of Africa’s vast sea and ocean…
NNPC, NCDMB to grow Nigerian Content to 70% by 2027
The Nigerian National Petroleum Corporation, NNPC, and the Nigerian Content Development and Monitoring Board, NCDMB have committed to growing local content in the oil and gas industry from the current 40 percent to 70 percent by 2027 as…
FG to support NCDMB deepen Local Content
The Minister of State for Petroleum Resources, Dr Ibe Kachikwu has reiterated the Federal Government’s commitment to deepen Nigerian content in the oil and gas industry.
Kachikwu, represented by Mrs Folashade Yemi-Esen,…
NNPC clarifies award of Trans Forcados pipeline surveillance contract
he management of the Nigerian National Petroleum Corporation, NNPC, has provided explanation on the reported award of oil infrastructure surveillance contract to an indigenous firm, Ocean Marine Solutions, OMS, for the protection of the…
OPEC has problems with some oil producers, reasons for Qatar’s exit must be examined – Iran oil…
OPEC has problems with some oil producers, and the reasons for Qatar’s exit from the organisation must be examined, Iranian Oil Minister Bijan Zanganeh said on Tuesday, according to the Islamic Republic News Agency (IRNA).
Qatar said…
Fashola calls for prosecution, jail of power sector vandals
Minister of Power, Works and Housing, Babatunde Raji Fashola, has called not just for the arrest, but prosecution and jailing of vandals in the power sector.
In a communique signed by the minister and other stakeholders in the sector on…
OPEC, partners meet in Vienna to discuss 2019 output
The Organization of the Petroleum Exporting Countries, OPEC, and its partners, led by Russia, will meet in Vienna, Austria, on Thursday to discuss crude oil production plan for the coming year.
The two-day meeting, holding November 6-7,…
Kaduna Electric takes energy efficiency campaign to secondary schools
Kaduna Electricity Distribution Company has commenced knowledge sharing campaigns through formation of Energy Conservation Clubs in secondary schools within its franchise. The exercise is aimed at inculcating energy efficiency values and…
Iran says OPEC members who increased output should take lead on cuts
Qatar’s decision to quit OPEC shows the frustration of small producers at the dominant role of a Saudi and Russia-led panel, a top Iranian official said, adding that any supply cuts should come only from countries that had increased output.…
Qatar gives notice of its withdrawal from OPEC
The OPEC Secretary General, His Excellency Mohammad Sanusi Barkindo, has today received a letter from the State of Qatar giving notice of its intention to withdraw from its Membership of OPEC, pursuant to Article 8 of the OPEC Statute, with…
Nigeria imports over 4 billion litres of petrol Q3 2018
The petroleum products importation statistics for the third quarter, Q3, 2018 reflected that Nigeria imported a little over 4 billion litres of premium motor spirits, PMS, popularly known as petrol, within the quarter.
According to the…
Oil marketers give govt 7-day ultimatum to settle N800bn debt
Oil marketers in the country have issued a 7-day notice to the Federal Government to settle all outstanding debts, including foreign exchange differentials and interest rate components, owed marketers in cash.
The ultimatum is coming…
Nigeria ranks 11th among countries with largest proven oil reserves
Nigerian ranks eleventh position on a top-20 list of countries with largest proven oil reserves.
Data sourced from World Atlas puts the country with a reserve of 37,062 billion barrels on the eleventh position after the United States of…
Shell Nigeria signs gas supply agreement for Aba power project
The Shell Petroleum Development Company of Nigeria, SPDC, and its joint partners have signed a gas supply and aggregation agreement that will support the 140 Megawatts Aba Integrated Power Project in Abia State.
The agreement, signed on…
Fuel Smuggling: PPMC lobbies marketers
THE Managing Director of the Petroleum Products Marketing Company, PPMC, Mr. Umar Ajiya, yesterday, enjoined oil marketers, under the aegis of Major Marketers Association of Nigeria, MOMAN, to regulate the volumes of petroleum products…
Pipeline Explosion: NNPC, Abia govt have abandoned us – Victims’ families
By UGOCHUKWU ALARIBE ABA–
Some families of the victims of the Osisioma Ngwa pipeline explosion that killed over 200 persons at Umuaduru and Umuimo villages have cried out that the state government and the Nigerian National Petroleum…
Three modular refineries to begin operations in 2019 – Kachikwu
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has said there are strong indications that three modular refineries, out of 40 licenses issued, will likely come on stream by end of 2019.
Kachikwu disclosed this at the…
N/Delta youth group applauds NLNG for Nigerian Content in $7bn Train 7 project
By Kenechukwu Obiajuru, Yenagoa
A youth group under the aegis of Niger Delta Youths Coalition for Peace and Progress (NDYCPP) on Tuesday applauded the Nigeria Liquified Natural Gas (NLNG) for its strategy of involving Nigerians in its…
Regulatory uncertainty stalling Nigerian oil reserve, industry growth – NAPE
Peace Obi
The lack of clear policy framework which has stalled many investment decisions in the passing year will continue to be a major challenge to the development of the Nigerian oil and gas industry as well as the attainment of the…
Countdown to 8th annual Practical Nigeria Content Forum
The 8th Annual Practical Nigeria Content Forum will open its doors to private sector and government representatives in a matter of days from today. PNC is a forum where the Executive Secretary, Nigerian Content Development and…
Customs seize N7.5bn Tramadol imported from China
The Nigeria Customs Service says it has intercepted forty 40-foot containers loaded with tramadol and other dangerous drugs from India worth N7, 318,978,065.00.
The Comptroller- General of Customs, Col Hameed Ali (retd), said on Thursday…
FG set to launch new guidelines for oil and gas industry
The Federal Government in its efforts to achieve a standardised oil and gas industry will on Monday in Lagos, launch three regulatory guidelines to that effect.
The regulatory guideline which will be launched by the Minister of state…
Military taskforce destroys 300 illegal refineries in Nigeria Delta
The head of the joint military taskforce operating in the Niger Delta, Operation Delta Safe, has said no fewer than 300 illegal refineries and 156 boats have been destroyed in an ongoing crackdown in the region.
The Commander of the…
UK calls on Russia to allow ships access to Ukraine’s ports
The UK has joined calls for Russia to stop delaying or preventing access for ships to the Sea of Azov, following a discussion at the EU Foreign Affairs Council.
Russia’s continued disruption of ships attempting to access Ukrainian ports…
FG targets 30 per cent in renewable energy mix by 2030 —Fashola
In a bid to diversify its energy sources and optimise other assets for power production, Nigeria has set a target of meeting 30 per cent of its energy needs from renewables by 2030.
Mr. Babatunde Fashola, the Minister of…
Nigeria facing energy trilemma – Kachikwu
Peace Obi
... It is not attractive remaining extractive
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has said that Nigeria is facing energy dilemma and that the country must deal with it by creating activities that lead…
Micro-grids, solution to Nigeria’s power challenges -Eaton
Nigeria cannot overcome its insufficient electricity supply unless she embraces micro-grid solution, Senior Application Leader, Micro-grid Energy Systems, Eaton Technologies, a South African power solutions company, Bunty Kiremire has said.…
Wind, Solar Are Now The Cheapest Sources Of Power Generation
Thanks to falling costs, unsubsidized onshore wind and solar have become the cheapest sources of electricity generation in nearly all major economies in the world, including India and China, according to a new report by Bloomberg NEF.…
IEA Chief Urges Oil Producers Not To Cut Output
IEA Chief Urges Oil Producers Not To Cut Output
While OPEC is considering cutting oil production again, the executive director of the International Energy Agency (IEA), Fatih Birol, called on Monday for ‘common sense’ because fresh cuts…
APPLICATION FOR 2018/19 PETROLEUM TECHNOLOGY DEVELOPMENT FUND (PTDF) SCHOLARSHIP FOR UNDERGRADUATE…
The Petroleum Technology Development Fund (PTDF) is the Federal Government agency with the mandate of developing indigenous human capacity and petroleum technology to meet the needs of the oil and gas industry. The Fund hereby invites…
Building Local Capacity: SAP Skills for Africa produces its first set of Graduates in Nigeria
Peace Obi
In furtherance to its commitment to empower the workforce in local communities with a cutting edge digital skills needed to make them globally-competitive and fit to take up available jobs in their communities, SAP, a market…
Underinvestment, a major obstacle to power sector privatization result – AfDB
Peace Obi
Insufficient investment has been said to be a major problem hindering Nigerians from reaping the desired result from the 2013 power sector privatization. And that to shore up the power supply in the country, the Federal…
Oil marketers decry subsidy debt payment’s delay
The Major Oil Marketers Association of Nigeria and the Depot and Petroleum Products Marketers Association of Nigeria have decried the delay in the payment of outstanding subsidy debts owed by the Federal Government.
The…
Schneider Electric Gets NCDMB Certification on Local Content
The Nigerian Content Development and Monitoring Board (NCDMB) has awarded Schneider Electric in Nigeria the Nigerian Content Equipment Certificate (NCEC) in recognition of its commitment to the local content policy.
Schneider Electric in a…
Obsolete policies, multiple agencies bane of Nigerian seaport – NACCIMA
The National President, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Iyalode Alaba Lawson, has expressed concern over the efficiency of the Nigerian seaports, stating that obsolete policies,…
Bayelsa Oil Spill: Shell repairs ruptured pipeline, pledges compensation for victims
By Kenechukwu Obiajuru, Yenagoa
The Shell Petroleum Development Company (SPDC) says it has repaired the Trans Ramos Pipeline that ruptured and spilled about 1,114 barrels of crude oil into the environment on May 17.
The SPDC also…
DPR cautions depot owners over unlicensed marketers
DPR cautions depot owners over unlicensed marketers
The Department of Petroleum Resources in Cross River State, has cautioned depot owners against selling petroleum products to unlicensed marketers.
Mr Bassey Nkanga, DPR Operations…
President Buhari commends LADOL on job creation
Peace Obi
President Muhammadu Buhari has commended the Lagos Deep Offshore Logistics (LADOL) Base for their contribution in reducing youth unemployment in the country.
Speaking at the State House, Abuja on Thursday while receiving the…
NERC accuses Discos of withholding monthly electricity revenues
The Nigerian Electricity Regulatory Commission (NERC) has accused the electricity distribution companies (Discos) of deliberately capping their monthly revenue remittances and keeping more money for themselves.
In its first quarter 2018…
Surge, of up to US$10bn, in M&A Values in the Oil and Gas Equipment and Services Industry in Q3…
Surge of up to US$10bn in M&A Values in the Oil and Gas Equipment and Services Industry in Q3 2018, says GlobalData
Surge of up to US$10bn in M&A Values in the Oil and Gas Equipment and Services Industry in Q3 2018, says GlobalData…
Senate uncovers fresh $1.151bn withdrawals from NLNG dividends
Aside the sum of $1.05b earlier discovered to have been withdrawn from the dividend accounts of the Nigeria Liquefied Natural Gas, NLNG, the Senate yesterday said that it has uncovered alleged fresh multiple withdrawals from the same…
Bonga Oil Spill: Victims urge FG to prevail on Shell to pay $3.6bn fine
Artisanal fishermen in the Niger Delta, affected by the December 2011 Bonga oil spill, have urged the federal government to compel Shell to pay the $3.6 billion fine for the spill.
Samuel Ayadi, Coordinator, Niger Delta zone, Artisana…
Nigeria cannot attain 40 billion barrels oil reserve – NAPE
The absence of fiscal policy will continue to retard investments flow in Nigeria’s oil and gas industry, such that attainment of 40 billion crude oil reserve will not be realised, the Nigerian Association of Petroleum Explorationists, NAPE,…
Again, Oil price hits low at $69 as OPEC predicts demand growth of 1.5mb/d
The price of crude oil, which has been on a steady slide in the past three weeks, yesterday dropped further from $71 per barrel to $69 per barrel.
Meanwhile, the Organisation of Petroleum Exporting Countries, OPEC, had predicted oil…
Shell condemns frequent attacks on its pipelines, spills in Bayelsa
Kenechukwu Obiajuru, Bayelsa
Shell Petroleum Development Company (SPDC), on Monday decried the high rate and frequent activities of vandal on its pipeline network at its oilfields in Bayelsa resulting to oil leaks and pollution of the…
Nigerian crude oil to rise to 2.2mbpd in 2019
Peace Obi
Baring any unforeseen circumstances and the eventual start up of the Total-operated Egina FPSO, the Nigerian crude oil production has been projected to rise to 2.2 million barrel per day in 2019.
The Minister of State for…
Bonny business group applauds NLNG on business workshop
Kenechukwu Obiajuru, Yenagoa
The indigenous vendors in Bonny Island, under the aegis of Association of Niger Delta Vendors in Oil and Gas have expressed their readiness to participate in an upcoming business workshop for young…
Wabote Bags Global Award for Local Content Advocacy
The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote was conferred with a global award of excellence for outstanding contributions to sustainable local content development in Nigeria and…
Wabote goes global with Nigerian Content Advocacy
Peace Obi
The Executive Secretary of Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote, went global on Wednesday with Nigerian Content Advocacy, when he addressed delegates at the 2018 African Oil Week (AOW)…
‘Rains wrecked havock on Dangote Refinery’
The heavy rains of this year have caused some serious damages to the ongoing Dangote refinery project worth over $4.5 billion.
The President, Dangote Industries Limited, Alhaji Aliko Dangote made the revelation in an interview with…
NCDMB boss inaugurates Tolmann modular firefield centre
The new modular fire field and emergency response training centre built by Tolmann Allied Services Limited has been commissioned by the Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote.…
Chevron Appoints New North America E&P Leader
Chevron Corporation has appointed Steven W. Green as the new president of Chevron North America Exploration and Production, effective March 1, 2019.
As part of his new role, Green, who is currently president of Chevron Asia Pacific…
NNPC earned $470 million from oil and gas export in August
The Nigerian National Petroleum Corporation (NNPC) Wednesday declared that it recorded crude oil and gas export sale of $470 million in August 2018, indicating an upsurge of about $78 million in relation to July oil and gas export figures…
Nigeria’s success in Local Content is African oil producing countries’ gain
Peace Obi
The Minister of State, Petroleum Resources, Dr. Ibe Kachikwu has said that Nigeria's success in driving her local content policy has paved the way for the deployment of local capacities, greater participation of indigenous…
$55m crude oil shipment: FG closes case in suit against Agip
The Federal Government on Tuesday closed its case at a Federal High Court Lagos, in a $55 million debt recovery suit it filed against Agip Oil Company Ltd.
The suit, filed in 2016 by the government’s counsel, Prof. Fabian Ajogwu (SAN),…
Senate to probe diversion of NLNG dividends – Saraki
The Senate President, Dr. Abubakar Bukola Saraki, has said that the Senate on resumption of plenary will further probe the claims by the NNPC, on diversion of dividends from the Nigerian Liquefied Natural Gas (NLNG).
According to a…
Shell, ExxonMobil to sign crude swap deal with NNPC
Peace Obi with agency report
The Nigerian National Petroleum Corporation (NNPC) could sign crude-for-product deals with Shell and ExxonMobil, similar to one signed with BP last week, a senior NNPC official said on Monday.
The…
AP looks for Sierra Leon extension on oil blocks
African Petroleum issued an update on its Sierra Leone SL-03-17 and SL-4A17 blocks. Through the company’s wholly owned subsidiaries – European Hydrocarbon Ltd and African Petroleum Sierra Leone Ltd – it has entered into the Second Extension…
Fuel scarcity looms as NUPENG backs planned NLC Strike
There may be a shortage of fuel next week as the Nigeria Union of Petroleum and Natural Gas Workers has pledged its loyalty to the Nigeria Labour Congress and any step that the NLC decides to take.
The Federal Government on Friday…
QWAY set to construct 500mw of Angolan renewable energy
A Renewable Energy Company, QWAY has demonstrated a keen interest in constructing 500 MW of renewable energy infrastructure in Angola. It is expected that 250 MW to 300 MW of this capacity would consist of solar power plants. The rest would…
Senate commends NCDMB’s engagement of local contractor in headquarters building
Peace Obi
…to expand NC Act to other sectors
Members of the Senate Committee on Local Content have commended the Nigerian Content Development and Monitoring Board (NCDMB) for conceiving and developing its 17-story headquarters building in…
Dangote Sinotruk Automobiles set to shore up Local Content to 60 per cent
As a budding automobile company, Sinotruk West Africa Limited entered into another phase in its expansion drive, the company has said it was increasing its local input into the assembling plant to 60 per cent, even to roll out commercial…
Kachikwu to lead, NCDMB, industry stakeholders on Nigerian Content parley for NLNG Train-7
Kenechukwu Obiajuru, Yenagoa.
The Niger Delta Youths Coalition for Peace and Progress (NDYCPP) on has said that the group is collaborating with stakeholders in oil industry to ensure the participation of youths in the NLNG Train-7.…
ExxonMobil To Produce Marine Gasoil, Diesel
ExxonMobil has started operations of a new unit at its Antwerp refinery in Belgium to convert heavy, higher-sulphur residual oils into high-value transportation fuels such as marine gasoil and diesel.
As explained, the new 50,000…
NIMASA DG In Dubai, To Enforce 0.5% Sulphur Limit On Bunker Fuel
The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside has stated that the Agency will enforce strict compliance to the International Maritime Organisation regulation which puts a…
OPEC has become an indispensable ‘organ of stability’ in the oil market – Barkindo
OPEC has become an indispensable ‘organ of stability’ in the oil market, Mohammad Sanusi Barkindo, OPEC Secretary General said at the Algeria Future Energy Summit in Algiers, Algeria. He noted that though some sceptics have imagined a…
NNPC prepares for yuletide, signs petrol supply deal with BP
The Nigerian National Petroleum Corporation on Thursday announced that it had signed a six-month Direct Sale-Direct Purchase agreement with the British Petroleum’s trading arm, BP Oil International Limited, for the supply of Premium Motor…
Baru tasks engineers on renewable energy development
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has challenged Nigerian engineers to come up with technologies to help deepen the development of renewable energy in the country.
The…
Libya Lifts Oil Production After Restarting Fields
Libya has restarted three small oil fields and added around 10,000 bpd to its oil production—which has been steadily rising over the past two months—a spokesman for Libya’s National Oil Corporation (NOC) had told Reuters on Wednesday.…
Alternative Energy Adoption on the Rise as Total Opens Solar-Powered Service Station in Zaria
As part of its expansion drive, Total Nigeria Plc has inaugurated its 30th solar serviced station, five years after it opened the first one in Lagos.
The new service station on Court House Road, Zaria, boasts 11.7 Kilowatt peak, kWp with…
NNPC, others yet to remit $22.06bn, N481.75bn to Federation Account
The Nigerian National Petroleum Corporation (NNPC) and its subsidiary, Nigerian Petroleum Development Company (NPDC) and other companies in the oil and gas sector have yet to remit revenue amounting to $22.06bn and N481.75bn to the…
African Power Platform Launches Comprehensive Library of Energy Information
With the APP library, individuals can learn about conventional methods of producing energy, renewables, micro-grids, solar home systems, and how those methods and strategies might be combined to best serve the unique and increasing power…
Shell explains its local content strategy for Nigeria
The Shell Nigeria Exploration and Production Company (SNEPCo), says its local content strategy was built around the national framework as developed by the Nigeria Content Development and Monitoring Board.
Bayo Ojulari, its Managing…
DPR to limit supply of petrol to Nigeria’s border areas
The Department of Petroleum Resources (DPR) in Adamawa on Wednesday said it would limit supply of petroleum products to border areas to control the illegal exportation of products.
Mr Ibrahim Chiroma, the Controller of Field Operations…
Nigeria has lost $10bn revenue in 18yrs to obsolete hydrocarbon laws – Senate
The Chairman, Senate Committee on Petroleum Resources, Upstream, Donald Omotayo Alasoadura, has said that Nigeria has lost no less than $10 billion revenue in the last 18 years due to obsolete laws in the sector.
Alasoadura, the senator…
IMO Adopts Ban on Carriage of Non-Compliant Fuels
The IMO’s Marine Environment Protection Committee (MEPC 73) adopted today the MARPOL amendment to prohibit the carriage of non-compliant fuel oil on board ships.
The ban relates to fuels intended for combustion purposes, propulsion or…
Revamping of Refineries: Port Harcourt Refinery Gets Financier
The Nigerian National petroleum Corporation (NNPC) has said that some of the financing companies it approached to revamp the country’s refineries have shown interest in Port Harcourt refinery.
Mr Ndu Ughamadu, Group General Manager,…
Baru commends NPDC on 100% local content on gas facility
The Nigerian National Petroleum Corporation (NNPC) has commended the Nigerian Petroleum Development Company (NPDC), for achieving 100 per cent local content input in the development of Oredo Integrated Gas Handling Facility (IGHF).
Dr…
US Confers Kachikwu with Multiple Honorary Citizenship Awards
The Minister of State for Petroleum, Dr Ibe Kachikwu, was on Thursday, conferred with multiple honours, including honorary citizenship of the State of Georgia in the U.S.
Kachikwu was also conferred with honorary doctorate degree by the…
Why Nigeria will remain an important player in global oil market — OPEC Rep
Nigeria’s representative in Organization of Petroleum Exporting Countries (OPEC), Mele Kyari, has said the country cannot be ignored in the global oil market due to the growing positive outlook of its oil output.
Mr Kyari, who is also…
Discos Huge Indebtedness Stifling GENCOs, APGC cries out
Oge Obi
The Association of Power Generation Companies (APGC) has said that discos continuous failure in their monthly remittances to the NBET is badly hurting power generating companies (Gencos).
According the APGC, the Discos have…
ExxonMobil Resumes Talks in Ghana
ExxonMobil Corp. has reportedly resumed talks with local Ghanaian oil firm, Ghana Oil Co. (GOIL). The talks revolve around the US firm’s need to find a local partner as the deadline looms near.
If talks between the two firms bear fruit…
Youths Vow to Resist SNEPCO’s Movement out of Onne
Youths in Rivers State have restated their opposition to the alleged plans by Shell Nigeria Exploration & Production Company to relocate its Supply Base from Onne, Rivers State, to Lagos, vowing to stop any ship that tries to load the…
Don’t Hoard Fuel, We Have Enough in Stock, NNPC Warn Consumers
Oge Obi
In a proactive step to discourage petroleum products consumers from hoarding products as the festive season approaches, the Nigerian National Petroleum Corporation (NNPC) has warned consumers across the country to desist from…
JMMC expresses satisfaction with developments in the oil market
No 22/2018
Vienna, Austria
25 Oct 2018
The Joint Ministerial Monitoring Committee (JMMC) reviewed the monthly report prepared by its Joint Technical Committee (JTC), including the overall conformity levels of the countries…
Discos Renewable Energy Firms Sign MoU on Mini-Grids
Power distribution companies are entering into partnerships with renewable energy firms for the development of mini-grids to boost the supply of electricity in Nigeria.
According to officials from the Rural Electrification Agency and…
Limited Access to Electricity worsening Poverty Situation in Nigeria – NAEE
Oge Obi
The Nigeria Association for Energy Economics (NAEE) has said that citizens' low access to electricity has worsened the poverty situation in the country.
The Association disclosed data obtained from the Trading Economics 2018,…
NEITI, CAC Set to Unveil Nigerian Oil Well, Mining Asset Owners in 2019
Oge Obi
December 31, 2019 has been set by Extractive Industries Transparency Initiative (NEITI) and Corporate Affairs (CAC) to release a comprehensive register of beneficial owners of oil wells, gas and mining companies in Nigeria.…
Nationwide Blackout Looms as DSS Allegedly Aids Seizure of TCN’s Facility
Thisday newspaper has reported that national electricity supplies may witness another round of disruptions from the transmission end of the loop if reported takeover of the fibre optic infrastructure of the Transmission Company of Nigeria…
President Buhari to Visit Seme Border Tomorrow
President Muhammadu Buhari and his Republic of Benin counterpart, Patrice Talon, will tomorrow perform the official handover of the new Economic Community of West African States (ECOWAS) Border Posts at Seme-Krake and Neope-Akanu in…
Kachikwu inaugurates Nigerian Content Research & Development Council
The Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu recently in Abuja inaugurated the Nigerian Content Research and Development Council (NCRDC).
The Council is expected to advise the Nigerian Content Development and…
Problems of electricity can’t be solved by magic – Fashola
Oge Obi
The Minister of Power, Works and Housing, Mr. Babatunde Fashola has said that the problems of electricity in the country are slowly being solved, adding that no magic can be done in tackling the issues.
Fashola said this on…
NNPC extends $6bn oil swap contracts by 6 months
Oge Obi with agency report
Few months to the expiration of the National Petroleum Corporation's (NNPC) 2018 crude-for-oil products contracts worth about $6 billion, the Corporation has again extended the oil swap deals by another six…
US legal threat prompts change at OPEC
The Organisation of Petroleum Exporting Countries has urged its member nations, not to mention oil prices when discussing policy in a break from the past, as the oil-producing group seeks to avoid the risk of US legal action for…
Chevron Calls on Stakeholders to Support willing seller, buyer gas pricing model
Oge Obi -
The Managing Director of Chevron Nigeria Limited, (CNL) Jeff Ewing has called on the stakeholders in the gas industry to support and enable the willing seller – willing buyer gas pricing model, to ensure the viability of the…
NCDMB Commends, Declares Support for Dangote Refinery on Local Content Implementation
Oge Obi
The Nigerian Content Development and Monitoring Board (NCDMB) has commended the management of Dangote Petroleum Refinery and Petrochemical Free Trade Zone Enterprises (DPRP) for abiding by the local content law in the execution…
Oil Marketers Call for Regular Review of Oil Price
Oge Obi
The Major Oil Marketers Association of Nigeria has said that there is need for a regular review of the pricing template for Premium Motor Spirit (PMS) to ensure that the price of the commodity reflects the reality on the ground.…
Oil turns lower as weaker demand outlook weighs
Oil prices gave back early gains and turned lower on Friday after the International Energy Agency (IEA) deemed supply adequate and the outlook for demand weakening, sinking even as equities rebounded from a slump Thursday.
The West’s…
Pipeline Explosion: Police Puts Death Toll at 24 dead
The death toll from the pipeline explosion that occurred in Umuaduru and Umuimo communities, Osisioma Local Government Area in the early hours on Friday has been put at 24 by the Commissioner of Police in Abia State, Mr. Anthony Ogbizi.…
NNPC blames vandals for Aba oil pipeline fire
The fire outbreak at the Nigerian National Petroleum Corporation (NNPC) oil pipeline along Osisioma axis, near Aba depot in the Corporation's System 2E pipeline network has been blamed on pipeline vandals and petroleum products thieves.…
African Circle acquires 16 new trucks for cleaner territorial waters
Oge Obi
To maintain its high standard service which has aimed Nigeria a seat in the International Maritime Organization (IMO), as a council member, African Circle Pollution Management Limited (ACPML) recently acquired 16 additional…
Nigerian Content Receives a Boost as Waltersmith builds Modular Refinery
Oge Obi
The Local Content initiative of the Nigerian government in the oil and gas industry again, received a boost as an indigenous refinery by Waltersmith Refining and Petrochemical Company Limited gets ready to contribute about 271…
“High cost of solar systems stalling full embrace of alternative energy by Nigerians”
Oge Obi.
While available statistics in the country has shown that Nigerians are willing to switch over to alternative sources of energy, it has however been discovered that the initial high cost of setting up a chosen source such as the…
In our expansion, we have brought local content to bear – Skipper
Power Nigeria Sponsorship is a Way of giving back to the country
Oge Obi
The 2018 Power Nigerian exhibition and conference that held at Landmark Centre, VI, Lagos between from September 25 to 27 was indeed a convergence of key players…
“Nigerians are eager to switch to more-effective alternatives”
Oge Obi
As the awareness on alternative energy increases in the country, Nigerians are beginning to show strong interest to switch over to better and more effective sources of energy for their homes and businesses. This may also not be…
HIGH PRICES START TO WEIGH ON ECONOMIES, DEMAND
Rising oil prices and global trade worries are pressuring emerging economies, International Energy Agency Executive Director Fatih Birol told Reuters.
India faces an “economic crisis” due to its huge oil imports, two local TV channels…
Oil falls from four-year highs; Wall Street weighs
Oil prices fell on Thursday as the prospect of increased crude production from Saudi Arabia and Russia prompted profit-taking the day after futures hit four-year highs on a boost from imminent U.S. sanctions on OPEC’s No. 3 producer Iran.…
Ibe Kachikwu: Refineries To Be Fully Functional Before 2019 Ending
The Minister of State for Petroleum, Dr Ibe kachikwu, has said that it would be sad if the nation’s refineries are not functional by the end of 2019.
According to him, the present administration is committed to ensuring that the…
NNPC, agencies set to improve oil sector output
Oge Obi.
As part of their commitment to boost the country's oil and gas sector, some strategic government agencies under the Federal Ministry of Petroleum Resources have indicated their willingness to improve the digitalisation of their…
FG increases penalty on gas flaring
Oge Obi,
The Federal Government has increased the penalty on gas flaring from N10 per thousand standard cubic feet of gas to $2 - equivalent of N612.8 at the current official exchange rate of N306.4 to one dollar per thousand standard…
2018 to 2040: OPEC projects 14.5mbd oil demand increase
Oge Obi
The Secretary-General, Organization of the Petroleum Exporting Countries, OPEC Mohammad Barkindo has said that oil remains relevant for over a long period of time; Forecasting an increase in oil demand by around 14.5 million…
NNPC records trade surplus in May
Oge Obi.
The Nigerian National Petroleum Corporation (NNPC) has disclosed that it recorded a trade surplus of N18.12 billion in the month of May, a higher earning than the N17.16 billion in April 2018.
The Corporation made the…
NUPENG, PENGASSAN warn Chevron against disengaging workers
The National Union of Petroleum and Natural Gas Workers, NUPENG, and the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, have warned the management of Chevron Nigeria Limited, CNL, against the disengagement of its…
NLC suspends warning strike
The Nigeria Labour Congress (NLC) has suspended its seven-day warning strike following promises by the Federal Government to reconvene the tripartite committee on national minimum wage on October 4, 2018.
The labour movement said the…
Nigeria will be great again, FG assures
The Federal Government on Sunday assured that Nigeria would be great again, adding that the country was set for a season of prosperity and progress.
The Vice President Yemi Osinbajo stated this at the 58th Independence Day…
Dangote Refinery receives its first ship, BBC Naples
The Dangote Oil Refinery jetty located at the Lekki Free Trade Zone, Lagos has received its first ever ship call. The ship named BBC Naples berthed at the new jetty on Sunday evening to deliver essential equipment for ongoing construction…
Condemnation continues to trail appointments in Customs
Oge Obi.
For the umpteenth time, a voice of condemnation has risen against the alleged lopesided appointments in Nigerian Customs Service, observed by stakeholders to favour officers from the northern extraction of the country.
A…
Pirates Kidnap Ship’s Crew In Nigeria, Destroys Communications Equipment
Pirates have kidnapped 12 crew members from a Swiss cargo vessel in Nigerian waters.
Massoel Shipping said its vessel, MV Glarus, was carrying wheat from Lagos to Port Harcourt when it was attacked on Saturday.
“The pirate gang…
INTELS donates health centre to delta community
Oge Obi,
INTELS Nigeria Limited, a leading port operator/oil and gas logistics service company has built and handed over a modern, fully equipped Health Centre to the Aruakpor-Umah Community, in Uvwie Local Government Area, Delta State.…
NNPC urge NUPENG, PENGASSAN to halt planned strike
The Group Managing Director (GMD), NNPC, Dr. Maikanti Baru, has urged oil workers to halt their planned strike over a labour dispute involving Chevron Nigeria Limited (CNL) management and the staff.
The unions are National Union of…
Africa welcomes first ever full-stream oil, gas & energy transformation dais
The global energy industry has been experiencing a radical transformation in recent years
CAPE TOWN, South Africa, September 7, 2018/APO Group/ -- Speaking on Africa’s hydrocarbon development, Niall Kramer, CEO, South African Oil…
Africa Oil Week 2018 announces partnership with SuperReturn Africa
Africa Oil Week welcomes the continent’s biggest investors to attend event
London, UK (06 September 2018) – Africa Oil Week (AOW) has announced their partnership with SuperReturn. This new partnership offers delegates attending…
Now is the time for local investors to step up and electrify Africa
After a foreign kickstart, African investors and regulators have to take over the lead in shaping the continent’s sustainable energy future
KIGALI, Rwanda, September 3, 2018/ -- For years, the African renewable energy development…
NIMASA Seeks Synergy between Cabotage and Local Content Act
By Oge Obi,
For effective shipping logistics in the country, the Director General of Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has called for the synergy between the Local Content Act 2010 and the Coastal…
Women Threaten To Go Naked Over SNEPCO Relocation from Onne
By Oge Obi,
A group of community women under the aegis of Concerned Community Women of Rivers (COCOWOR) in Port Harcourt on Monday vowed to storm the Supply Base of Shell Nigeria Exploration and Production Company (SNEPCO) in the Oil and…
Kuwait and Nigeria will be growth engines of LNG industry in Middle East and Africa, says GlobalData
Kuwait and Nigeria will contribute significantly to capacity growth in the Middle East and Africa’s LNG industry between 2018 and 2022. Nigeria is set to have the highest liquefaction capacity additions while Kuwait and Turkey will have…
Two firms merge to form new industrial player in Norway
Norway’s Bergen Group has entered into an agreement with its compatriot oil service company Endúr Fabricom for a merger between the two companies.
Bergen Group, an industrial group based in the western part of Norway, is a supplier of…
Nigeria: JV partners get 20-year license extension
Yinka Folawiyo Petroleum has received consent from the Nigerian Minister of Petroleum Resources for the renewal of the OML 113 license.
MX Oil said on Friday that Yinka Folawiyo Petroleum was granted the renewal for another term of 20…
Total hires Stena Don semi-sub for more Shetland drilling
Offshore driller Stena Drilling has secured more work for its Stena Don offshore drilling rig with the French oil giant Total.
The rig is currently on a contract with Total E&P UK on an exploration well west of the Shetland Islands.…
Equinor awards Mongstad modifications contracts to Wood
Oilfield services firm Wood has secured two new strategic modifications contracts with Norwegian oil and gas giant Equinor for the Mongstad refinery near Bergen, growing its downstream capability in Norway.
Wood said on Tuesday that the…
Egina FPSO sails away to its final location offshore Nigeria
Egina FPSO sails away to Egina offshore field after completing works in SHI Nigeria’s Lagos facilities; Source: Samsung Heavy
The Egina oil field is located some 130 kilometers off the coast of Nigeria at water depths of more than 1,500 …
IOCs have not been given order to relocate headquarters’ to N. Delta – FG
The Federal Government has not ordered international oil companies (IOCs) to relocate their head offices to Niger Delta, according to a source in the presidency. This followed reports in the media that the government may have resolved to…
Nigeria’s external reserves drop by $990m in 3 weeks
The nation’s foreign exchange reserves have fallen by $990.98m this month, latest data from the Central Bank of Nigeria showed on Sunday.
The external reserves, which stood at $47.11bn at the end of last month, declined to $46.128bn on…
Nigeria imported 165.7m litres of LPG in Q2 – NBS
The National Bureau of Statistics (NBS) said 165.71 million litres of Liquefied Petroleum Gas (LPG) was imported into the country in the second quarter of 2018.
The NBS disclosed this in its “Petroleum Products Importation and…
Tinubu laments fuel subsidies impact on Nigeria’s downstream sector
Oando CEO Wale Tinubu in a recent interview in Lagos commented on a Nigerian government cap on petrol prices at below-market costs that has caused many private retailers to stop imports. This has left the state-owned Nigerian National…
Government of Uganda Promotes oil and gas projects at Africa Oil Week 2018
Hon Irene Muloni, the Minister of Energy and Mineral Development, in the Republic of Uganda will lead a delegation of private and public-sector players from Uganda’s oil and gas sector to the Africa Oil Week 2018, which will be held between…
$200 Million is to Support Local Companies in the Oil & Gas Sector – Wabote
By Kenechukwu Obiajuru, Yenagoa.
The Nigerian Content Development and Monitoring Board (NCDMB) says it has set aside the sum of $200 million for intervention funds as parts of its support grants for the growth and development of the…
Kachikwu, Others to Chart course for Africa’s Energy Future at Energy Confab
Minister of States for Petroleum Resources, Dr. Ibe Kachikwu, will join other speakers at the inaugural conference of the Future Energy Africa 2018.
The Future Energy Africa Oil and Gas conference and exhibition which comes up…
Government of Uganda Promotes oil and gas projects at Africa Oil Week 2018
Hon Irene Muloni, the Minister of Energy and Mineral Development, in the Republic of Uganda will lead a delegation of private and public-sector players from Uganda’s oil and gas sector to the Africa Oil Week 2018, which will be held between…
NNPC, Seplat Sign 300mmscfd Gas Deal
The Nigerian National Petroleum Corporation (NNPC) and Seplat Petroleum Development Company (SPDC), Monday, signed five agreements for the construction of a gas processing plant with an initial capacity of 300 million standard…
Local Content Impact: LADOL Set to Host a new FPSO by Shell
By Oge Obi
As Nigeria celebrates the successful anchor of Egina FPSO, a major breakthrough in Nigerian Content policy, the Shell Nigeria Exploration & Production Company, SNEPCo, recently hinted on an ongoing collaboration with the…
Egina Success Shows Government’s Commitment to Local Content – Osinbajo
Says govt won’t permit monopoly in maritime, oil sector
By Margaret Nongo-Okojokwu
Acting President, Yemi Osinbajo (fifth right); with Deputy Managing Director, Total (E&P), Musa Kida (left); Managing Director, Nigerian Ports…
Total to add 200,000bpd to Nigeria’s output by Q4
L-R/ : Yakubu Lawal, General Manager, Media/Communication, Niger Delta Power Holding Company Limited; Engineer Ahmadu-Kida Musa, Deputy Managing Director, Deep Water District, Total E&P Nigeria Limited and Mr Olatunde Dodondawa,…
Eko DISCO moves to eradicate “Crazy Bills”
Eko Electricity Distribution Company stated on thursday that a project to improve the company’s estimated billing system was on going and will reduce cases of outrageous billing popularly known as “crazy Bills”.
A statement signed by…
New 100,000bpd Brownfield Refinery for Port Harcourt, Warri – Baru
As part of its refinery collocation initiative designed to boost local refining capacity to end the era of petroleum products importation, the Nigerian National Petroleum Corporation (NNPC) has hinted of plans to establish a…
NNPC, Seplat Execute Agreements to Deliver 3.4bscfd of Gas by 2020
As part of efforts to bridge the projected medium-term gas supply gap expected by 2020, the Nigerian National Petroleum Corporation (NNPC) and Seplat Petroleum Development Company (SPDC) have signed five agreements to expedite the…
Cashless: Eko Disco to eliminate use of cash payment
The Management of Eko Electricity Distribution Company Plc (EKEDC), has urged customers to embrace modern electronic payment for electricity consumption, as it works towards eliminating cash payment.
Mr Joseph Esenwa, the company’s Chief…
Electricity: Customer eligibility policy beginning to yield result, says Fashola
Hon. Minister of Power, Works & Housing, Mr Babatunde
Fashola,SAN (middle),Minister of State, Surv. Suleiman Zarma Hassan(right) and Permanent Secretary, Power, Engr. Louis Edozien (left) during the 29th Monthly Power Sector Operators…
World currently has 1 TW of wind and solar capacity – BNEF
The global wind and solar power capacity has reached 1 TW at the end of June and is expected to double by the middle of 2023, Bloomberg New Energy Finance (BNEF) said last week.
The 1,013 GW of currently installed capacity is almost…
Africa50 mobilises funds to close Africa’s $108b power, infrastructure gap
Africa50 has emerged a key player in driving infrastructure investments with commercial rates of return in the region, in an effort to bridge the continent’s infrastructure financing gap estimated at $108 billion, after two years of…
FG, investors engage in discourse over IPP solar projects’ challenges
The federal government through the Energy Commission of Nigeria (ECN) and other stakeholders recently met investors in Lagos under the “Grid-Connected Renewable Energy Investor’s Forum”. The forum was supported by the United Nations…
Nigerian research centre invites bids for biomass plant
The National Centre for Energy and Environment has invited bidders to tender for the development of power generation using biomass waste plant.
Qualified, interested and credible companies are to collect tender documents from the Centre…
W’ Bank plans $4.5bn project funding for Nigeria’s power sector, others
The World Bank at the weekend said it was planning to increase its funding to Nigeria by $4.5 billion over the next three years to support projects in the power and health industries and in governance, its Vice President for Africa said.…
FG says it isn’t afraid of Discos’ threat to resell firms
The Federal Government is not frightened by the threats made by power distribution companies to quit the power sector and resell the firms at discounts.
Senior officials of the Federal Ministry of Power, Works and Housing stated that the…
Kaduna DisCo says security issues affecting its business
The Chairman, Board of Directors of Kaduna Electricity Distribution Company, Alhaji Yusuf Hamisu Abubakar has said the security challenges in parts of Zamfara, Sokoto and Kaduna states, three of the four franchise states of Kaduna Electric…
Abuja Disco set to deploy 222,728 pre-paid meters to customers
The Abuja Electricity Distribution Company (AEDC), is to begin the deployment of 222,728 meters valued about N10 billion for customers in its franchise areas of FCT, Kogi, Niger and Nasarawa States.
A statement by its Head, Corporate…
“Eligible Customer” policy will raise tariff by 14% – Discos
The Eligible Customer policy introduced by the Federal Government in the power sector will lead to a 14 per cent increase in the electricity tariff payable by residential consumers across the country, power distribution companies have said.…
Nigeria loses 4,379MW to distribution, gas constraints – ISO
Nigeria lost 4,379 megawatts (MW) capacity of electricity on Saturday. This was partly due to distribution constraints and inadequate gas supply.
Data obtained from the Independent System Operator (ISO), a business unit of the…
Power Ministry to begin payment of MDAs’ electricity bills
To ensure all its Ministries, Departments and Agencies (MDAs) do not accumulate more debt from electricity supplied to them but hardly paid for, the federal government may have approved that the ministry of power takes charge of paying off…
Nigeria’s DisCos illiquid as electricity attracts major investments globally
Electricity Distribution Companies (DisCos), which interface with end-users, occupy a critical position in Nigeria’s power value-chain but struggle to stay afloat because of illiquidity and a stifling legal framework, while electricity…
Jos Disco restores power to Bauchi communities affected by windstorm
Residents of some communities in Bauchi State that were thrown into darkness following the wild windstorm that caused colossal damage to the power lines and infrastructure of Jos Electricity Distribution Company (Disco) broke into…
Nigeria’s power sector loses N300bn in 7 months – VP’s Office
Nigeria’s power sector in seven months of 2018 has lost N300 billion due to insufficient gas supply, distribution and transmission infrastructure.
A report obtained from the Office of the Vice President, Yemi Osinbajo, stated that…
‘70% of revenue losses come from unmetered consumers’ – AEDC, ANED
The highest amount of revenue losses in Nigeria’s power sector come from areas that have high concentration of unmetered electricity consumers. It was also gathered that about 70 per cent of revenue losses recorded by power distribution…
‘MAPs’ policy will bridge Nigeria’s metering gap’ – Meter company
The Managing Director/Chief Executive Officer, Momas Electricity Meters Manufacturing Company Limited (MEMMCOL), Kola Balogun, said the new regulation on metering – Meter Asset Providers (MAPs) would eliminate estimated billing, attract…
Stakeholders hopeful new tariffs in NERC’s amended MYTO 2015 can solve power sector issues
As Nigeria Electricity Regulatory Commission (NERC) continues to come up with different strategies to revamp the Nigerian power sector, investors and consumers will be hoping the amended Multi-Year Tariff Order (MYTO) 2015 will provide a…
BEDC says grid highly unstable, signs MoU with IPPs, mini-grid providers
The Benin Electricity Distribution Company Plc has described the nation’s power grid as highly unstable, with over 2,000 outages and interruptions recorded in its network coverage area of Delta, Edo, Ekiti and Ondo states between January…
Nigeria’s sovereign wealth agency transfers $417.5m to NBET
The Nigeria Sovereign Investment Authority (NSIA) on Thursday said it paid about $417.46 million to the country’s electricity bulk trader, the Nigeria Bulk Energy Trading Company Plc (NBET). This, it said, is contrary to allegations by the…
Nigeria’s power grid collapsed twice in June, July
Nigeria’s electricity grid is still witnessing system collapse as it recorded total failure twice in the last two months.
Figures obtained from the Federal Ministry of Power, Works and Housing in Abuja on Thursday showed that the system…
MAN urges FG to intervene over debt disagreement with DISCOs
The Manufacturers Association of Nigeria (MAN) has asked the Federal Government to intervene in the ongoing debt disagreements between the electricity distribution companies (DISCOs) and manufacturers to enable them access the stranded…
Rice Smuggling Affects over 12 million Rice farmers – Customs
By Oge Obi
Nigeria Customs Service has disclosed that about 12.2 millions of local rice farmers are being affected by the continuous smuggling of foreign parboiled rice into the country
The immediate past Controller, Federal…
Schneider Electric’s Digital Solutions set to Increase Profitability and Optimise Costs for Oil…
Schneider Electric, the foremost innovator and specialist in energy management solutions has re-affirmed its commitment to providing the industry with digital solutions for businesses that are guaranteed to enhance profitability and…
LADOL Dispels Speculations, Says Its Charges Are Statutory
By Margaret Nongo-Okojokwu
Free Zone Operator advocates fair review of tariffs
Following the news making the rounds in some media platforms, with Lagos Deep Offshore Logistics (LADOL) accused of imposing arbitrary charges on foreign…
Marathon Oil Reports Second Quarter 2018 Results
By Margaret Nongo-Okojokwu,
Marathon Oil has reported second quarter 2018 net income of $96 million, or $0.11 per diluted share, which includes the impact of certain items not typically represented in analysts’ earnings estimates and…
Permanent Solution to Apapa Gridlock: ‘Government Must Kill Corruption, Summon Political Will,’…
With several measures previously adopted in tackling the perennial traffic gridlock in the Apapa and other roads linking the major tank farms in Lagos State and their subsequent failure, trailer and truck drivers have called on the…
OGFZA Ranks No. 1 among 44 MDAs on FG’s Ease of Doing Business (EO1) Report
By Jerome Onoja
The Oil and Gas Free Zone Authority (OGFZA) has emerged as the highest ranked among forty-four other ministries, departments and agencies, MDAs in a recent report. Published by Presidential Enabling Business…