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OIL & GAS

Flared Gas Can Generate 100,000MW Of Electricity – Expert

Flared Gas Can Generate 100,000MW Of Electricity – Expert

Despite growing domestic gas demand in the country, oil companies in the first half of the year flared a quantum of natural gas capable of generating 100,000 megawatts of electricity. According to data from the Nigerian National Petroleum Corporation, about ...

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2015 Budget: FG Proposes $78 Oil Benchmark

2015 Budget: FG Proposes $78 Oil Benchmark

The Federal Government has proposed $78 as the benchmark price for a barrel of crude oil and fixed the exchange rate at N160 per dollar for the 2015 national budget. The projection, which was contained in the Medium Term Expenditure ...

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Nigeria: Navy Impounds 2,000 Gallons Of Petroleum Products

Nigeria: Navy Impounds 2,000 Gallons Of Petroleum Products

The Nigerian Navy on last week in Lagos said it impounded over 2,000 gallons of petroleum products from some suspected vandals’ hideout at Majidun in Ikorodu, Lagos State. The products, which were concealed in 50 litres jerry cans, were lifted ...

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Shell Sells Nigerian Oil Block

United Nation Environmental Protection Report

Royal Dutch Shell has agreed to sell a productive Nigerian oil block to a consortium led by oil-trading firm Taleveras Group, say two people familiar with the matter. Nigeria’s Taleveras will pay Shell more than $2.5 billion for the block, ...

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‘Poaching’ Row In Legal Battle Over Nigerian Oil Spill

‘Poaching’ Row In Legal Battle Over Nigerian Oil Spill

Thousands of Nigerians who are suing Shell over oil spills through a London law firm are being “poached” by rival solicitors, a court has been told. In the run up to what should be a test case of how multinational ...

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Nigeria: Amaechi Blames Alleged Looting In NNPC On NGF’s Factionalisation

Nigeria: Amaechi Blames Alleged Looting In NNPC On NGF's Factionalisation

Governor Chibuike Amaechi has punctured claims that oil theft is responsible for the shortfall in allocation to states even as he attributed the development to factionalisation in the governors’ forum. Regretting that the federal allocation to his state had plummeted ...

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As US Shuts its Door On Nigeria’s Oil Exports

As US Shuts its Door On Nigeria’s Oil Exports

Nigeria has become the first country to completely stop selling oil to the United States of America, the world’s largest oil producer and consumer, due to the impact of the shale revolution – an astounding reversal – as the country ...

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Nigeria: DPR Sanctions 20 Oil Marketers  In Abuja For Malpractices

Nigeria: DPR Sanctions 20 Oil Marketers In Abuja For Malpractices

The Department of Petroleum Resources said it had sanctioned 20 petroleum marketers in Abuja in the last one week for engaging in sharp practices. The DPR Head of Public Relations Unit, Abuja zone, Mr Seidu Mohammed, made this known at ...

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DIEZANI’S AWARD

DIEZANI AWARD

Mrs. Diezani Allison-Madueke receiving an Award in Leadership, from Mr. Christopher Kip Forbes, in New York, last week

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Senate Moves To Amend Oil And Gas Export Free Zone Authority Bill

Senate Moves To Amend Oil And Gas Export Free Zone Authority Bill

In efforts to produce a more legally and economic sustainable document for operations, the Senate, last week moved to amend the Oil and Gas Export Free Zone Authority Bill. The bill according to the Senate President, David Mark is the fundamental ideology ...

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Gas Shortage Stalls 10 Power Plants’ Privatisation – BPE

Gas Shortage Stalls 10 Power Plants’ Privatisation – BPE

Gas shortage rather than politics is responsible for the delay in the conclusion of the privatisation of the 10 National Integrated Power Project plants, the Director-General, Bureau of Public Enterprises, Mr. Benjamin Dikki, has said. Dikki said this in a ...

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No Gas Supply To Five Power Stations – Nebo

No Gas Supply To Five Power Stations – Nebo

The ongoing strike by members of the Nigerian Union of Petroleum and Natural Gas Workers and the Petroleum and Natural Gas Senior Staff Association of Nigeria, Nigerian National Petroleum Corporation branches may result in nationwide power outage as major power ...

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Nigeria’s Agbami Crude Oil Nov Loadings Rise To 260,000 b/d

Nigeria's Agbami Crude Oil Nov Loadings Rise To 260,000 b/d

Average loadings of Nigeria’s naphtha-rich Agbami crude in November are set to rise to 260,000 b/d from 251,613 b/d in October, according to a copy of the preliminary loading schedule seen by Platts on Friday. Total loadings of Agbami for November will ...

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Chevron Gets Ultimatum To Quit Communities If…

Chevron Gets Ultimatum To Quit Communities If…

The Gbaramatu, Egbema and Ogulagha Coastal Communities Front have issued a 21-day ultimatum to Chevron Nigeria Limited to stop all contracts, award/dealings with the Communities’ former Chairman, George Timinimi, or move out of their communities. In a resolution signed by ...

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Italian Prosecutors Probe CEO Of ENI Over $1.3bn Nigerian Oil Deal

Italian Prosecutors Probe CEO Of ENI Over $1.3bn Nigerian Oil Deal

Barely four months after he assumed office as the head of Italy’s biggest listed company, the Chief Executive Officer of Eni, Mr.Claudio Descalzi, has been placed under investigation by Italian prosecutors over alleged corruption relating to the $1.3 billion Malabu ...

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US Firms Battle NNPC, CAC Over Ownership Of Pan Ocean Oil

Buhari Dissolves NNPC Board

Interocean entities, comprising Interocean Oil Development Company (Nigeria) and Interocean Oil Exploration Company (Nigeria), companies incorporated under the laws of Delaware in the United States, have dragged the Nigerian National Petroleum Corporation (NNPC),    Corporate Affairs Commission (CAC) and one ...

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China’s Interest In Nigeria’s Oil and Gas ‘Growing

China's Interest In Nigeria's Oil and Gas 'Growing

Mr Liu Kan, the consul-general of the Consulate General of People’s Republic of China on last week Thursday revealed his country’s growing interest in Nigeria’s oil and gas industry. Liu (pictured during a recent meeting with governor of Oyo state, ...

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Sedimentary basin in Minna

Sedimentary basin in Minna, Niger State, the North has signified its strong intention to commence oil and gas exploration activities

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Whither Africa’s LNG Projects Amid Looming Glut?

Nigeria, Others, To Attract $103b Gas Investment In 2019

In March this year, Anadarko Petroleum, the primary operator of Mozambique’s Rovuma Offshore Area 1, which is estimated to hold more than 65 trillion cubic feet of natural gas, said it had sold two-thirds of the capacity of its planned ...

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Navy: Crude Oil Theft Witnessed 154% Reduction in Seven Months

Navy: Crude Oil Theft Witnessed 154% Reduction in Seven Months

The Chief of Naval Staff (CNS), Vice Admiral Usman Jubrin, has stated that the efforts being put in place by the Nigerian Navy to tackle crude oil theft, piracy and other acts of criminality in the nation’s oil and maritime ...

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