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We cut Manbila project budget over fears of using N17 bn for mere EIA—Asuquo

Yakubu Dogara

House of Representative Committee Chairman on Power, Hon. Dan Asuquo has opened up on why the National Assembly slashed the budget on Manbila Power Project, saying lawmakers were put off on sighting a whooping N17bn allocated for just conducting an Environmental Impact Assessment (EIA). Business Hilights recalls that while giving details on why several capital projects in the 2017 budget ...

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Lost 25 million barrels of crude in March not linked to vandalism—NNPC

NNPC MD

Contrary to trending news that loss in crude oil in the month of March were from oil installations vandalism, intelligence secured from credible sources at the Nigerian National Petroleum Corporation (NNPC) showed that they were caused essentially by challenges like force majeure, poor pipeline integrity, leaks or turn around maintenance. A force majeure is a standard clause that exempts the ...

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KOMBOT threats: Chevron explains stand on job placements, restates commitments

Chevron CMD

Whereas the pullout order handed down to a set of workers on the employ of oil giant, Chevron Nigeria Limited (CNL) by a group, KOMBOT-Egbema & Gbaramatu Graduates Association, is set to expire tomorrow, Wednesday, General Manager, Policy, Govt & Public Affairs, Mr. Esimaje Brikinn, has reacted, saying “At no time did CNL represent or guarantee that it would hire ...

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Emerging stability in oil output may force Nigeria, Libya back to OPEC cut bracket

OPEC Ibe kachukwu

Though the Organisation of Petroleum Producing Countries (OPEC) failed to include a clause that if stability returns to exempted producing nations and their output rises to normalcy, they should join the cut basket; indications are rife that Nigeria may soon be under pressure to join cuts. The OPEC and non-OPEC cuts have failed to have the desired effects so far, ...

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Chevron opens up on local content footprints, secrets of host community relations

Chevron Soga

Leading operator of NNPC’s Joint Venture and international oil giant, Chevron Nigeria Limited (CNL) has given convincing instances showing that even before the introduction of Local Content Development Act in the petroleum industry, it has been applying the principles in its operations. Making the revelations in his presentation at the ongoing 2017 Class of Advanced Writing & Reporting Skills (AWARES ...

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Power generation investors list three problems of Discos, decry monitoring gap

APGC Nigeria

The leadership of Association of Power Generating Companies (APGC), has listed three key challenges frustrating the Nigerian power sector since the sector was privatized. The group however placed, more emphasis on Distribution Companies (Discos). In an interview, the Executive Secretary of the association, Dr. Joy Ogaji, traced the challenges from the fact that the federal government failed to put in ...

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Tension rising in Ogoniland over confusion on oil spill clean-up claims, counter claims

Ogoni cleanup

More than one year after the celebrated presidential flag off of clean up of Ogoniland which stemmed from the United Nations report, controversies on whether the job has started or not are still raging. Whereas the Minister of State for Environment, Mohammed Jibril in a recent interview claimed that work is in progress, indigenes and several environmental watchdogs have maintained ...

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Chevron Nigeria lists 3 key challenges frustrating oil industry operations

Chevron training

Leading International Oil Company (IOC), Chevron Nigeria Limited (CNL), on Thursday at the Pan Atlantic University (PAU), Lekki in Lagos, opened up on the real challenges drawing back the expected speed of industry operations in the oil rich Niger Delta. In her presentation at the ongoing training for senior media executives at the School of Media & Communications (SMC) in ...

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Scarcity looms as oil marketers urge FG to pay outstanding N720bn fuel subsidy claims

Ibe Kachikwu

There are anxieties that the Major Oil Marketers Association of Nigeria (MOMAN) may be running out of patience on backlog of subsidy claims as it appealed to the Federal Government to pay the outstanding fuel subsidy claims to its members to pay back their bank loans. In Nigeria, whenever marketers get tired of appeals to the government on their demand, ...

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How power sector lost N1.43 bn on June 17 to gas, grid disruptions

power transmission lines

Fresh figures statistics released by the Presidential Advisory Power Team (PAPT) overseen by the Acting President, Yemi Osinbajo on Wednesday revealed that the nation’s power sector lost about N1.43 billion to constraints associated with grid and gas in one day (June 17, 2017) . Details showed that the disruptions involved 1,724 mega watts (MW) for gas while line constraints involved ...

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