Oil & Gas

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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FG to deploy technology in monitoring oil pipelines across Nigeria

Mar 21, 2019

The Managing Director, Nigerian Pipelines Storage company (NPSC), Luke Anele, has said the agency is deploying new technologies to monitor activities in oil pipelines across the country. Mr Anele made the disclosure in an interview with the News Agency of Nigeria (NAN), in Abuja on Wednesday. NPSC is a subsidiary of Nigerian National Petroleum Corporation…

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NNPC releases guidelines for 2019 crude oil swap contract

Mar 21, 2019

The Nigerian National Petroleum Corporation (NNPC) Wednesday unveiled the guidelines for its crude oil-for-product swap programme, known as the Direct Sale and Direct Purchase (DSDP) scheme. The corporation in a tweet message on its official twitter handle @NNPCgroup, disclosed that it will engage qualified refineries, oil traders, as well as local downstream operators in the…

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New refineries set to overrun inefficient plants by 2024

Mar 21, 2019

An increase in the number of new refining capacity, expected to extend till the end of 2024, signifies major competition ahead for the oil industry, with possible shutdowns, the International Energy Agency (IEA), said in its Oil 2019 Report. The IEA noted specifically that such a capacity expansion will require shutdowns to balance, estimating that…

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Eland eyes growth after ‘ground-breaking’ year

Mar 21, 2019

ELAND Oil & Gas chief executive George Maxwell has highlighted the benefits of basing the Nigeria-focused business in Aberdeen as he said the firm could achieve a $1 billion (£0.76bn) valuation in future. Speaking after Eland posted a maiden annual profit of $77.6 million, Mr Maxwell said the firm could use the expertise available in…

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Nestoil says it will complete its section of the OB3 pipeline by end of March

Mar 21, 2019

Ernest Azudialu-Obiejesi, Chairman and Chief Executive of the Obijackson Group, parent of Nestoil Ltd, says that mechanical completion of the Oben Obiafu-Obrikom pipeline, a part of which the company is constructing, will be done by the end of March 2019 “and pre-commissioning and finalcommissioning much later in the year”. Azudialu-Obiejesi told Africa Oil+Gas Report in…

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NNPC optimistic of meeting 2019 oil production target – GMD

Mar 20, 2019

The Nigerian National Petroleum Corporation (NNPC) has expressed confidence that it would meet the target of 2.3 million barrels of oil per day (MBOPD) benchmark used in the 2019 Mid Term Expenditure Framework (MTEF). This was according to the group managing director of NNPC, Dr. Maikanti Baru, who stated this while appearing before the senate…

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Nigeria to sell stakes in joint ventures with oil firms to boost revenue – Udo Udoma

Mar 20, 2019

Nigeria plans to cut its stake in joint oil ventures with multinational oil companies to 40% this year, its budget minister said, as the country seeks to boost revenue to grow an economy recovering from recession. Oil companies including Royal Dutch Shell, Chevron and Exxon Mobil Corp., operate in Nigeria through joint ventures with the…

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