Oil & Gas

Enyo Retail continues rapid roll out, launches new fuel station in Lekki

Mar 26, 2019

Enyo Retail & Supply (ERS) an indigenous oil & Gas distribution and marketing company recently launched its Ultra-modern fuel station in the Lekki axis of Lagos State. The ceremony which held over the weekend witnessed the Oba of Lagos, Rilwan Akinolu, alongside other dignitaries join hands with the company’s Chairman Mr. Tunde Folawiyo and his…

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Nigeria, other OPEC members commit to exceed voluntary oil output cuts

Mar 26, 2019

Nigeria and other member countries of the Organisation of Petroleum Exporting Countries (OPEC) as well as their non-OPEC allies led by the Russian Federation have said they are committed to making their voluntary oil production adjustment plan work efficiently, and would in this regard follow through their respective commitments in the next coming months. The…

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FG spent N1.83tn on JV assets in 2018 – NNPC

Mar 25, 2019

Over half of the total revenue generated by the Federal Government from oil and gas sales last year was used for the payment of joint venture cash calls. Cash call payment for the development of joint venture oil and gas assets ate into the Federal Government’s revenue last year as a total of N1.829tn was…

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USTDA lauds Eko petrochemical refinery project

Mar 25, 2019

The U.S. Trade and Development Agency has commended the management of Eko Petrochemical and Refining Company Ltd. for the level of work done so far,assuring of its continuous and total support. Mr Thomas Hardy, USTDA’s Acting Director gave the commendation at the weekend during a project inspection of the 20, 000 barrel per day production…

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World extractive industries transparency body EITI deems NNPC transparent

Mar 25, 2019

The gale of transparency and probity which has pervaded the operations of the Nigerian National Petroleum Corporation (NNPC) under the current dispensation received global affirmation over the weekend with the conferment of the highest discloser status by the global extractive industries watchdog, Extractive Industries Transparency Initiative (EITI). The accolade is the most prestigious and credible…

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Limited risk to oil majors’ investments from energy transition in medium term – GlobalData

Mar 23, 2019

Major oil and gas companies are increasingly highlighting the alignment of their corporate strategies with climate change goals. They are also pursuing major production growth projects, but the value risk to these investments from the energy transition is limited, according to GlobalData, a leading data and analytics company. The company’s latest analysis shows that planned…

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NLNG to take FID on Train-7 project in Q4 2019 – MD

Mar 23, 2019

The Nigeria Liquefied Natural Gas company on Friday announced that it would take a final investment decision on its new eight million metric tonnes per annum Train-7 gas plant by the fourth quarter of 2019. It said funds were being sourced by the company in order to actualise the project, as the plant would grow…

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DPR to continue clamp down on illegal LPG skid operators

Mar 23, 2019

The Department of Petroleum Resources (DPR), says it will continue to clamp down on illegal Liquefied Petroleum Gas (LPG) Skid and stand alone operators. This, it said, was to ensure safe handling of cooking gas in the country. Mr Oluyemi Olaonipekun, the Operations Controller of the Ibadan Field Office of DPR, disclosed this in an…

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NCDMB, NLNG sign $1bn Train 7 project Nigerian content plan

Mar 22, 2019

The Nigerian Content Development and Monitoring Board (NCDMB) and the Nigeria Liquefied Natural Gas, NLNG, will today in Abuja sign the Nigerian Content Plan (NCP) for NLNG’s Train 7 project, estimated to cost $1 billion. Executive secretary of NCDMB, Engr. Simbi Kesiye Wabote and the managing director of NLNG, Engr. Tony Attah met at the…

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NNPC begins first phase of rehabilitation of Port Harcourt Refinery

Mar 22, 2019

Nigeria’s effort at ensuring local sufficiency in refined petroleum products was bolstered Thursday with the formal commencement of the first phase of the rehabilitation of the 210,000 barrels per day capacity Port Harcourt Refinery complex that comprises the 60,000 barrels per day old Refinery built in 1965 and the 150,000 barrels per day, new Refinery,…

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