Oil & Gas

FG, Moroccan officials meet again over Nigeria-Morocco gas pipeline

Aug 8, 2019

The Nigeria-Morocco Gas Pipeline (NMGP) project would open new vistas for Nigeria’s gas aspirations, the Group Managing Director of the Nigerian National Petroleum Corporation, Mallam Mele Kyari, has said. Mallam Kyari disclosed this Tuesday in Abuja at a stakeholders’ engagement involving the corporation, its Moroccan partner on the Gas Project, the Morocco National Office for…

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Sale of FG’s stakes in JVs with IOCs on hold pending suitable framework – NNPC

Aug 7, 2019

Mele Kolo Kyari, the new head of  Nigeria’s state oil company, NNPC, has said in an interview with Reuters that some ambitious proposals, including selling down government stakes in joint-venture agreements changing the way it pays NNPC’s portion of the bills owed under those deals, were on hold for now. The government still intends to…

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NNPC to supply crude to Dangote Refinery, revamp own refineries – Kyari

Aug 7, 2019

Nigeria’s state oil company plans to partner with the huge private refinery under construction on the shores of Lagos to turn the oil-producing nation into a fuel supplier for the region, the new head said in an interview with Reuters. The aim to ink a contract with the Dangote refinery, with a capacity of 650,000…

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PJ Valves secures FPSO supply contracts in Nigeria, others

Aug 7, 2019

PJ Valves (PJV), the specialist manufacturer and supplier of valves for the global energy industry, has been awarded three significant FPSO valve contracts for projects in Brazil, Mexico and Nigeria. In Brazil, PJV will manufacture and supply valves to a project located in the Santos Basin. The company will deliver a range of globe and…

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NNPC looks to resume oil search in Chad Basin, Benue Trough with military support

Aug 7, 2019

The Nigerian National Petroleum Corporation (NNPC) has expressed its preparedness to re-enter and commence full operations at the Chad Basin, Gongola and Benue Trough, as it seeks for wholistic military supports for the protection of its workforce and high-tech equipment. Group Managing Director of the corporation, Mallam Mele Kyari, made this submission when he led…

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U.S. sanctions on Iran increases India’s appetite for Nigerian oil

Aug 7, 2019

India ceased crude oil imports from sanctions-hit Iran but ramped up shipments from Nigeria, Venezuela, USA, Iraq and United Arab Emirates (UAE), fresh data sourced from the commerce ministry showed. Overall, the country’s crude oil imports in June declined 13 per cent to 16.9 Million Tonne (MT). In the three months ended June, oil imports dropped 2.29…

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Sweet crude glut in Atlantic basin sends Nigerian differentials sliding

Aug 7, 2019

A glut of light sweet crude in the Atlantic basin owing to a surge in U.S. exports and homeless North Sea cargoes has sent differentials for Nigerian sliding. Around 15 cargoes of Nigerian crude remain from the August loading programme, with the prompt barrels dragging down prices for September cargoes yet mostly failing to attract…

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NNPC to publish contractors details, audited accounts soon – Kyari

Aug 7, 2019

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has urged the public to be wary of attempts to drag the corporation into politics in the guise of requests for information under the Freedom of Information law. The GMD made the call during a courtesy visit by the Executive Secretary…

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Shelf Drilling secures jack up extension off Nigeria

Aug 6, 2019

Dubai-headquartered Shelf Drilling has announced that it has secured a six-month contract extension for 2008-built jackup rig Shelf Drilling Resourceful. The rig is operating offshore Nigeria, having commenced drilling for Chevron in March 2018. The new extension is in direct continuation of its current contract. Shelf Drilling has announced a number of new and extended contract…

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Nigeria targeting 3mbpd crude oil production – NNPC

Aug 6, 2019

The Nigeria National petroleum Corporation, NNPC, said yesterday, that it was working with its partners to grow the national reserve to 40  billion barrels by 2025 and improve crude oil production to three million barrels per day. The corporation also disclosed plans to attract capital through massive investment across its value chain to drive the…

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