More

Increase of piracy in West Africa mainly a Nigerian problem

Jun 19, 2013

The piracy problem off the coast of West Africa highlighted by an International Maritime Bureau (IMB) report is, overwhelmingly, a Nigerian problem. The IMB report said maritime piracy was now more prevalent off the coast of West Africa than around Somalia. This is partly because an international naval task force has been patrolling the coast…

Read More

Clarke Energy to harness flared gas for power in Nigeria

Jun 18, 2013

The quest by the Federal Government to end gas flaring would soon yield better results, as Clarke Energy, said it has employed containerised gas engines for the production of power using the flared gas. Clarke Energy is an independent company which specialises in engineering, installation and maintenance of power plants utilising gas engines. The company…

Read More

Lekoil plots offshore OML 113 acquisition

Jun 18, 2013

Junior explorer Lekoil announced Tuesday that it is planning to acquire a 6.5-percent participating interest in the OML 113 block, offshore Nigeria, for $30 million. The OML 113 block is located in the Benin Embayment along the West African Transform Margin adjacent to the OPL 310 block, in which Lekoil has a 30-percent economic interest.…

Read More

FG to make oil spillage a criminal offence

Jun 18, 2013

In a bid to protect the nation’s environment, the Federal Government has commenced moves to make oil spillage a criminal offence, the Minister of the Environment, Mrs. Hadiza Mailafia, has said. Mailafia said in Abuja that the National Oil Spill Detection and Response Agency, a parastatal under the Ministry of the Environment, had presented the…

Read More

Edo blames boundary commission on decline in oil revenue

Jun 17, 2013

The Edo Government has attributed the decline in its oil revenue to the ceding of its oil wells to Ondo and Delta by the Federal Government. The Commissioner for Special Duties, Oil and Gas, Mr Orobosa Omo-Ojo, said in Benin. Omo-Ojo said that the ceding of its oil wells had continued to deny the state of…

Read More

PIB may fuel discontent in host communities – Apampa

Jun 17, 2013

Anti-corruption agency, Integrity Nigeria has advised the federal government to reconsider a section of the Petroleum Industry Bill (PIB) that holds host communities responsible for infrastructural damages, saying it may fuel discontent within the affected communities.Director of the group Mr. Olusoji Apampa said, although government sees it as a good strategy in tackling the nation’s…

Read More

Local banks determined to fund investors on power projects

Jun 17, 2013

Banks in Nigeria have resolved to join in funding interested local investors of the 10 National Integrated Power Projects (NIPP) when the privatisation exercise commences by federal government . The banks made the resolve at the last Bankers’ Committee meeting that took place at the Central Bank of Nigeria (CBN) headquarters in Abuja, last week.…

Read More

Oil sector reform: Challenges of curbing gas flaring

Jun 17, 2013

The ongoing reforms in the oil and gas industry have afforded the country, for the first time, to focus on gas. Until recently, there was no specific legal or organisational framework for the exploitation and development of natural gas reserves in the country. Petroleum experts believe that gas is going to be the fuel of…

Read More

Shell laments inability of Nigerian banks to finance major oil transactions

Jun 17, 2013

The Shell Nigeria Exploration and Production Company (SNEPCO) has lamented that all companies that purchased its recently divested interests in the country drew funds from banks abroad to pay for their transactions. Commercial Integration and Business Value Manager at SNEPCO, Mr Taaj Shobayo, disclosed this at an interactive Deepwater Workshop with energy correspondents in Lagos,…

Read More

South-south forum commends Jonathan’s oil sector reform

Jun 17, 2013

The South-south Restoration Forum has commended President Goodluck Jonathan for the series of reforms in the oil and gas sector and other economic and social achievements as contained in his mid-term report. In a communiqué issued at its monthly media briefing, the group also hailed the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke on her…

Read More

SUBSCRIBE TO LATEST ENERGY NEWS

Read the latest energy industry news and researched articles
for oil and gas, power generation, renewable energy, events and more...