Oil & Gas

AIIM acquires minority interests in Savannah Petroleum’s Nigerian gas assets

Jan 20, 2020

African Infrastructure Investment Managers (AIIM) has acquired minority interests in gas assets in Nigeria majority-owned by Savannah Petroleum Plc. This comprises a 20% stake in Seven Uquo Gas Limited, the entity that holds a 40% participating interest and a 100% gas economic interest in the Uquo gas field located in South-East Nigeria and a further…

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WAPCo pipeline shutdown to limit Nigerian gas supply to Togo, Benin and Ghana

Jan 20, 2020

Due to work that will soon take place on the West African gas pipeline (WAGP), gas availability will be limited to Lomé, Cotonou and Accra, for the first quarter of 2020. Indeed, according to a press release from WAPCo (West African Gas Pipeline Company), the network will be the subject, from Monday, January 20, of…

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FG launches gas expansion committee

Jan 20, 2020

The Federal Government has inaugurated the National Gas Expansion Programme Committee to steer the gas sector for optimal performance and better utilisation of Nigeria’s abundant gas resources. The Minister of State for Petroleum Resources, Timipre Sylva, who inaugurated the committee in Abuja, said the country was on the verge of becoming a gas hub for…

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Several dead, houses razed in Lagos pipeline explosion

Jan 20, 2020

The pipeline explosion at Ile-Epo area of Abule Egba, in Lagos, Southwest Nigeria has left three persons burnt to death, 11 trucks and seven houses razed in the inferno. A massive explosion shattered the peace of the area around 7:45pm on Sunday with thick smokes and balls of fire bellowing the atmosphere. Residents fled their…

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DPR shuts 5 petrol stations, 3 gas stations in Kogi

Jan 20, 2020

In its renewed determination to cleanse the Aegean table of the petrol and gas stations operators from cheating the public, the Department of Petroleum Resources (DPR), Kogi office, on Saturday shut down five petrol stations and three gas sales outlets for flouting the rules and regulations by adjusting their meter pumps below approved standard. Engineer…

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NCDMB, Waltersmith to support Equatorial Guinea on its modular refinery development

Jan 20, 2020

The Nigerian Content Development and Monitoring Board (NCDMB) and Waltersmith Petroleum Oil Limited will assist Equatorial Guinea to develop modular refineries in the central African nation, so it can process some of its crude oil and derive increased value from the hydrocarbon resources. The bi-lateral cooperation was confirmed on Saturday after the Executive Secretary of…

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Nigerians paid more for diesel, others in December

Jan 20, 2020

The prices by consumers for a litre of diesel and kerosene as well as a kilogram of cooking gas rose last month, according to latest reports released by the National Bureau of Statistics. The NBS said the average price paid by consumers for automotive gas oil (diesel) increased by 2.10 per cent month-on-month and by…

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Nigeria’s oil output aligns with quota as OPEC raises its 2020 outlook

Jan 19, 2020

A rise in oil demand growth this year will be offset by a sharper increase in non-OPEC supply, OPEC said in its monthly oil market report published yesterday, even as Nigeria’s crude production last month, aligned with its quota of 1.77 million barrels daily (b/d), according to secondary sources. Oil demand growth for 2020 was…

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FG plans to promote use of gas powered vehicles

Jan 17, 2020

The Federal Government has revealed plans are underway to provide alternative petrol -Compressed Natural Gas (CNG) – for the common man that will cost between N95 to N97 per litre. It also promised to pass the Petroleum Industry Bill(PIB) before May 29, 2020. The Minister of State for Petroleum Resources, Chief Timipre Sylva, stated these…

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NLNG cargo to arrive Portugal on January 22nd

Jan 17, 2020

REN’s Sines LNG import terminal on Portugal’s Atlantic coast is set to receive a cargo of liquefied natural gas from Nigeria. The cargo will be delivered from Nigeria LNG’s Bonny Island liquefaction plant onboard the LNG Bayelsa liquefied natural gas carrier. The vessel with the capacity to transport 141,000 cubic meters of liquefied natural gas…

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