Oil & Gas

DPR seals off 15 filling stations, 2 gas plants in Osun

Aug 9, 2019

Officials of Department of Petroleum Resources (DPR), on Thursday, sealed 15 filling stations and two gas plants in Osun over non-compliance with global best practices. The stations were sealed off at different locations during the department’s routine surveillance on filling stations and gas plants. The DPR’s Operations Controller in the state, Ademola Makinde, while speaking…

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U.S. shale dents demand for Nigerian crude

Aug 9, 2019

Nigerian crude has suffered its slowest sales of the year in August, traders said, as U.S. exports of competing light, sweet grades flood traditional markets in Europe and Asia. It is bad news for Nigeria’s 2019 budget and foreign exchange reserves as it is 90 per cent funded by oil sales. The market changes illustrate…

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Tech will address poor forecast risks in Nigeria’s oil sector – Seplat

Aug 9, 2019

The Executive Director, Operations, at Seplat Petroleum Development Company Plc, Mr. Effiong Okon, has said the right adoption of contemporary technologies like Artificial Intelligence (AI), big data and mobile technology will not only drive planning and forecast in the Nigerian oil industry, but will help in addressing like risks associated with the business. The Seplat…

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Dangote oil refinery delayed until end of 2020

Aug 9, 2019

Africa’s largest oil refinery will not be finished until the end of 2020 due to problems importing steel and other equipment, executives at Dangote, which is building the facility in the Nigerian commercial hub of Lagos, told Reuters. Nigeria, Africa’s most populous nation, imports virtually all its fuel due to sclerotic and underutilised refineries, and…

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Shell grants bidders more time for Bonga SW-Aparo FPSO

Aug 8, 2019

Shell has once again pushed back the bidding schedule for its challenging $10 billion Bonga South West-Aparo project off Nigeria. Technical and commercial bids for the 150,000 barrels per day floating production, storage and offloading vessel were due to be submitted at the end of last month. It is understood that the bidders were granted…

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NNPC boss tells NLNG to plan beyond Train 7 FID set for October

Aug 8, 2019

Plan for the development of the country’s gas sector should look beyond the final investment decision (FID) on Train-7 billed for October this year, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, told the Management of the Nigerian Liquefied Natural Gas (NLNG). Mr Kyari was speaking with members of the top management of the…

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Seplat delays three gas exploration/appraisal projects till 2020

Aug 8, 2019

Seplat Petroleum Development Company Plc said it had deferred three planned exploration/appraisal wells targeting longer-term oil and gas production and the Oben and Sapele Liquefied Petroleum Gas projects to 2020. The company said it had revised its 2019 capital expenditure guidance downwards to $150m with current focus on shorter-term oil and gas production gains. In…

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Nigeria imported 5.61bn litres of petrol in Q2 2019 – NBS

Aug 8, 2019

Nigeria imported a total volume of 5.61 billion litres of Premium Motor Spirit, also known as petrol, in the second quarter of 2019. Report released by the National Bureau of Statistics (NBS) shows that within the same period, 5.18 billion litres of petrol were consumed across the country. The petroleum products importation statistics for the…

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Nigeria’s Egina crude favoured by European refiners

Aug 8, 2019

European refiners are in high demand of Nigeria’s newest export crude, the medium sweet Egina, which is proving popular with European refiners due to its high distillate yields, with output from the Total-operated field close to its full capacity of 208,000 barrels of oil a day b/d. The Egina deepwater field came on stream late…

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Nigeria defies oil cuts as OPEC output drops to 5 year low

Aug 8, 2019

Organisation of the Petroleum Exporting Countries (OPEC), has pumped its fewest barrels in more than five years in July, aided by a huge production decline in its largest producer, Saudi Arabia, alongside wavering compliance by Iran, Nigeria, Libya, and Venezuela, latest S&P Global Platts survey has shown. According to the survey, Nigeria remained the biggest…

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