Oil & Gas

Sales of refineries: FG to negotiate with labour, stakeholders

Dec 10, 2013

The Minister of Petroleum Resources, Mrs. Diezani Alision-Madueke has said the government was ready to discuss and negotiate with organised labour in the sector with a view to ensuring smooth sail of the privatisation of the nation’s four refineries. Alison-Madueke who said this in Abuja, explained that adequate room had been made in the privatisation…

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Growing local production capacity through marginal field allocation

Dec 10, 2013

Chika Amanze-Nwachuku writes that apart from the obvious production increase, award of more marginal fields to indigenous firms, will help grow their assets base, making them fully fledged exploration and production companies. Penultimate Thursday, the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, kicked off the second marginal field licensing round. Under the upcoming exercise, 31…

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Indigenous oil producers to account for 30% output in five years

Dec 10, 2013

The co-Chief Executive Officer of Atlantic Energy, Mr. Scott Aitken, has stated the Nigerian independent companies would account for 30 per cent of the country’s daily production of crude oil in the next five years. Speaking at the recent African Oil Week, one of the largest oil and gas conferences held in Cape Town, South…

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OPEC appoints Alison-Madueke as alternate president

Dec 9, 2013

Diezani Alison-Madueke, minister of petroleum resources, has been elected alternate president of the Organisation of Petroleum Exporting Countries (OPEC), while Abdel Bari Ali Al-Arousi, minister of oil and gas of Libya, was elected president. They are to serve for one year with effect from January 1, 2014. Alison-Madueke and Al-Arousi were elected at the 164th…

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Blacksands Pacific withdraws from OPL 2012

Dec 9, 2013

The Blacksands Pacific Group, Inc. has terminated all discussions, interests and agreement with Sigmund Oilfields Limited and Grasso Consortium consisting of Grasso Nigeria Limited, Oil and Gas Mission Limited and Eurafric Energy Limited for the development of the leased acreage OPL 2012. OPL 2012 is located Offshore Niger Delta, in shallow waters between 50 and…

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IPMAN blamed over hike in kerosene price in Kano

Dec 9, 2013

Barely a month after the national president of the Independent Petroleum Marketers Association of Nigeria [IPMAN] Alhaji Aminu Abdulkadir, flagged off the sales of Kerosene at N50 per litre in Kano, members of IPMAN still sell the product at above N120 per litre on the excuse that they imported it. In the over 125 IPMAN…

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Oyo field: Drill ship, Energy Searcher heading to Nigeria

Dec 9, 2013

Oslo-listed rig contractor Northern Offshore has signed a letter of intent with Houston-based Camac Energy for its drillship Energy Searcher. The letter of intent could see the drillship contracted to Camac for an initial one-year period, with an option to extend for a further year. Northern said the contract value for the initial one-year term…

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Total targets 2017 for oil production in Egina field

Dec 9, 2013

Total has said it is targeting production of crude oil from the 150,000 barrels-per-day-capacity Egina deepwater field located 150kilometres off the coast of Nigeria by the end of 2017. Speaking at the weekend during the celebration of the completion of the detailed engineering of the living quarters of the Floating Production Storage Offloading (FPSO) vessel…

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Deregulation of downstream sector will ensure products availability – FG

Dec 9, 2013

The federal government Sunday said the planned deregulation of the downstream sector of the petroleum industry was to ensure availability of products to Nigerians. The Minister of Information, Mr. Labaran Maku, said this in Kaduna during an inspection tour of the Kaduna Refining and Petrochemical Company (KRPC). Maku said deregulation was the best solution to…

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Pipeline fire forces Eni to shut-in 47,000bpd production

Dec 9, 2013

Italian energy company, Eni, which operates in Nigeria as Nigerian Agip Oil Company (NAOC) has started closing some flow stations on a large, after shutting down a key Nigerian pipeline in the eastern Niger Delta. This development, which was caused by pipeline fire, came barely two weeks after a large amount of crude oil was…

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