N’Delta: IOCs give reasons for staying in Lagos, seek NNPC’s relocation first
Fresh twist has engulfed the hitherto presidential order given to all International Oil Companies (IOCs) to relocate to Niger Delta as a presidential source on Monday, upturned the order handed down by Vice president Yemi Osinbajo when he toured the…
NNPC avoids comments on state of 4 refineries, plans 2 brownfield schemes
Indications have emerged suggesting that the Nigerian National Petroleum Corporation (NNPC) may have finally dumped any further plans to resuscitate the ailing four national refineries following Tuesday’s announcement by the agency to establish a 100,000-barrels-per-day brownfield refinery each in Port…
Delay in deepwater projects may dominate discussions from today at SPE Lagos
As the 2018 Society of Petroleum Engineers (SPE) conference kicks off today in Lagos, there are strong indications the ongoing delays in the final investment decisions on seven offshore deepwater oilfield projects in the country. Before now, industry experts say…
NNPC begins sensitization on proposed 14MW oil palm-biodiesel scheme in C’River
Ahead of resumption of construction activities, the Nigerian National Petroleum Corporation (NNPC) has commenced stakeholders’ engagement to sensitise residents of Iwure, Ojor and Osomba/Akin communities of Cross River State who will serve as hosts in the joint proposed 14 megawatts…
Chinese oil firm, CNOOC see investing in Nigeria as most strategic oversea venture
Baring last minute hitches, Chinese investors are on their way to join other multinationals in doing business in Nigeria’s oil and gas industry sooner than later. Already, the management of China National Offshore Oil Corporation (CNOOC) has expressed its readiness…
NNPC lists 4 key issues slowing investments in oil and gas sector at NOG 2018
…As conference ends today in Abuja The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru has made public, current major challenges frustrating inflow of the much needed investments in the industry. Baru, who spoke at…
FG reduces gas flare to 10%, steps up gas utilization, monetization—NNPC
Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru has disclosed that the federal government is targeting 10 per cent of the world’s market share in traded Liquefied Natural Gas (LNG) as it intensifies gas capturing,…
FG rolls over crude-for-products swap deals till December as under-recovery surges
…Seals $3bn fresh industry deal in Vienna At a time under-recovery payments (subsidy) are rising on a daily basis, the Federal Government has extended its crude for oil products swap contracts by six months, meaning that deal stands till year…
Reps to investigate serial allegations of abuse of Brass LNG’s $22bn running cost
Considering barrage of allegations of misappropriation of $22bn legacy fund to run the operations of Brass Liquefied Natural Gas (LNG) project, the House of Representatives weekend, passed a resolution to investigate the matter. The decision followed the adoption of a…
Fuel price hike imminent as petrol landing cost exceeds N171 per litre
Under normal circumstances, especially if the nation is not approaching a general election, indications are rife that the economy would have been in a serious fuel since the gradual rise in crude oil prices due to jumping landing costs of…
