Home / Tag Archives: Ibe Kachukwu

Tag Archives: Ibe Kachukwu

Fears as OPEC plans to impose quota on Nigeria, cuts extension for market solidity

OPEC Ibe kachukwu

Even though oil prices have remained on the rising spree, there are strong indications that oil producers may unanimously extend a production cut accord later this month but its duration is being discussed. This was the position of the UAE energy minister said on Monday. However, the Minister of State for Petroleum Resources, Dr. Ibe Kachukwu had earlier made it ...

Read More »

Agip begins feasibility studies on new 150,000bpd refinery

Eni NNPC deal

In keeping with its resolve to deepen investment in Nigeria’s oil and gas sector, Nigerian Agip Oil Company (NAOC), a subsidiary of Italian oil major, Eni, has begun feasibility studies for the construction of a new 150,000bpd refinery in the Niger Delta. Vice-Chairman and Managing Director of the company, Mr. Massimo Insulla, dropped the hint in Yenagoa during a two-day ...

Read More »

Fresh twist as FG denies any $25bn contract by NNPC

NNPC 101

The federal government through the Senior Special Assistant to the Vice President, Laolu Akande, on Sunday changed the narrative of the trending crisis rocking the Nigerian National Petroleum Corporation (NNPC), saying there is no $25bn contract anywhere in the first instance. This runs contrary to the preliminary revelations of the Minister of State for Petroleum Resources, Dr. Ibe Kachukwu who ...

Read More »

Crude production freeze imminent as Nigeria crosses OPEC’s 1.8mbpd limit

OPEC Ibe kachukwu

The Nigerian National Petroleum Corporation (NNPC) is now stocked between two challenges. Details from OPEC report, released weekend said Nigeria’s crude oil production has consistently increased from the 1.511 million bpd in first quarter of this year; 1.616 million bpd in second quarter to 1.710 mpbd in June and 1.723mbpd in July.Whereas the first is cutting short the joy of ...

Read More »

Only functional refineries, pipelines can remove tank farms from Coconut axis of Lagos

Gov Ambode

…Lagos State Govt cannot There is no gainsaying the fact that the sprawling massive tank farm lining along the waterways of Coconut towards Tincan Island Port remains a source of danger and concern for healthy tinkers due to its closeness to residential areas across the Oshodi-Apapa Expressway. Whereas analysts are divided on whether the Lagos State government will muster the ...

Read More »

FG considering converting ‘illegal refineries’ to modular operators

Ibe Kachikwu

The federal government is currently perfecting strategies it would use to incorporate operators of illegal refineries in the Niger Delta to the emerging regime of modular refineries. Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, who gave the hint in Abuja at the 10th Nigerian Association for Energy Economics/International Association for Energy Economics Conference said “In the past two ...

Read More »