Oil & Gas

80% Nigerian content intervention fund disbursed – NCDMB

Feb 26, 2020

The Nigerian Content Development Monitoring Board (NCDMB) has stated that over 80 per cent of the Nigerian content intervention fund has been disbursed to contributors of the fund. Indeed, the Board stated that the contributors have benefitted from the fund and are yearning for more of the fund to support Nigerian businesses in the oil…

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NLNG supplied 275,000MT to Nigeria’s LPG market in 2019 – MD

Feb 26, 2020

The Nigeria Liquefied Natural Gas (NLNG) Limited on Tuesday said it supplied 275,000MT of Liquefied Petroleum Gas (LPG) to the domestic market in 2019. NLNG Managing Director, Tony Attah, made this known during a panel session at the ongoing Fourth Sub Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) in Lagos. The News Agency of…

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Bonga crude programme lags behind

Feb 26, 2020

Spot trade was slim on Tuesday as trader focused on London oil week and as a key Nigerian programme had yet to emerge. Nigeria’s Bonga programme had yet to emerge with expectations that it would not surface until the end of the week.   Source: Reuters

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Keppel delivers Yinson FPSO for operations off Nigeria

Feb 26, 2020

Keppel Offshore & Marine (Keppel O&M) has said it has delivered the world’s fastest brownfield floating production storage and offloading vessel (FPSO) modification and upgrading project. Named FPSO Abigail-Joseph, the vessel was delivered to Yinson, Keppel said on Wednesday. Keppel also said that its scope on this project included refurbishment and life extension work, engineering…

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N128bn lost to gas flaring over 11 months – NNPC

Feb 26, 2020

Oil and gas firms operating in the country flared a total of 225.81 billion standard cubic feet of natural gas from January to November 2019. This amounted to an estimated loss of N127.53bn. Data obtained by our correspondent from the Nigerian National Petroleum Corporation on Tuesday showed that the volume of gas flared from in…

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Dangote begins pre-testing of $2bn fertilizer plant ahead of inauguration

Feb 26, 2020

Dangote Fertilizer Limited has begun countdown to the inauguration of its $2 billion Granulated Urea Fertilizer complex, with several critical sections of the plant going through various stages of pre-commissioning and test-run. With a capacity of three million tonnes per annum, the plant complex located in the Dangote Free Zone, has been classified as the…

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OVH Energy expands footprint in Nigeria’s downstream petroleum sector

Feb 25, 2020

OVH Energy Marketing, a licensee of the Oando retail brand, has restated its commitment to reshaping the fuel’s retail landscape. The company made this known during the launch of its new retail station recently in Dei-Dei, Abuja. This aligns with the Company’s vision of enriching the customer experience at its service stations and innovate in…

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Programmes for some key Nigerian crude grades slow to emerge

Feb 25, 2020

A handful of Nigerian programmes were still outstanding on Monday while Taiwan took some west African crude. Nigeria’s Bonga programme had yet to emerge, lagging behind other major grades. Schedules for a few small streams were also missing, such as Abo, Pennington and Okono. Taiwan’s CPC took several cargoes of U.S. crude and a cargo…

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Nigeria unlikely to become a net petrol exporter in 2020 – Report

Feb 25, 2020

A new report – the Benchmarking Exercise Report (BER) 2019 – by the Nigerian Natural Resource Charter (NNRC) has said it is unlikely that Nigeria will become a net exporter of petrol this year as planned by the federal government. The report which was unveiled recently in Abuja, studied Nigeria’s progress in accordance with 12…

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Nigeria retains 45% of $20bn oil industry spending – NCDMB

Feb 24, 2020

The Nigerian Content Development and Monitoring Board has said the implementation of the Nigerian Oil and Gas Industry Content Development Act has resulted in the retention of about $9bn annually from the average $20bn industry spending. The Executive Secretary, NCDMB, Mr Simbi Wabote, said about nine million man-hours had been achieved in training, with indigenous…

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