Oil & Gas

Offshore rig count down by 5 in April – Baker Hughes

May 7, 2014

Baker Hughes Incorporated announced today that the international rig count for April 2014 was 1,349, up 4 from the 1,345 counted in March 2014, and up 48 from the 1,301 counted in April 2013. The international offshore rig count for April 2014 was 329, down 5 from the 334 counted in March 2014, and down…

Read More

Global upstream oil, gas spending favours exploration, development activities

May 7, 2014

Yearly reports by oil and natural gas companies revealed that spending on exploration and development activities increased by five per cent ($18 billion) in 2013, while spending on property acquisition continued to decline by $17 billion. In Nigeria, the International Oil Companies (IOCs) have focused their exploration activities from onshore to offshore due to the…

Read More

Maximizing The Use Of Natural Gas In Nigeria: Prospects, Constraints and Potential Solutions

May 7, 2014

Nigeria is one of the top ten nations in the world with huge natural gas reserves. Nigeria’s gas reserves was estimated at 187 trillion standard cubic feet of gas (tscf), with current production estimated at 8.24 billion standard cubic feet of gas per day (scfd) as of 2012. This is made up of 98 tscf…

Read More

NNPC says domestic gas supply i’ll increase by 250m SCF

May 7, 2014

The Group Managing Director, GMD, Nigerian National Petroleum Corporation, NNPC, Mr. Andrew Yakubu, has promised that domestic gas supply will increase by 250 million standard cubic feet, SCF, before year end. If it happens, the constant agitation by Nigerians on account of lack of access to gas for domestic use, particularly for power, may be…

Read More

LNG Projects: Are They Still a Reality?

May 7, 2014

The rate of development of various LNG projects, namely the Olokola LNG, Brass LNG and Nigeria LNG Train 7 projects have been a particular source of concern among various experts and stakeholders in the oil and gas industry. This piece reviews the current state of these projects which appear to have stalled over the course…

Read More

PETAN, NCDMB, Shell to train 100 engineers

May 7, 2014

To enhance and grow indigenous capacity, the Petroleum Technology Association of Nigeria, PETAN, said it had entered into agreements with the Nigerian Content Development Board, NCDMB, and the Shell Petroleum Development Company, SPDC, to train fresh graduate engineers. Giving more details about the programme, which is still in its pilot stage, the Assistant Publicity Secretary,…

Read More

Why turnaround maintenance of refineries was stalled— NNPC

May 7, 2014

To enhance and grow indigenous capacity, the Petroleum Technology Association of Nigeria, PETAN, said it had entered into agreements with the Nigerian Content Development Board, NCDMB, and the Shell Petroleum Development Company, SPDC, to train fresh graduate engineers. The Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mr. Andrew Yakubu, gave the indication…

Read More

Oil workers insist on refineries turn around

May 6, 2014

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has insisted that government must continue with discussions on Turn Around Maintenance on the nation’s refineries as soon as possible. Speaking recently in Abuja, president of the union, Comrade Babatunde Ogun, demanded that as a matter of urgency government should honour its age long…

Read More

Fresh push for fuel subsidy removal

May 6, 2014

The push for total removal of fuel subsidy seems to be gathering momentum as the government maintains that payment of subsidy on petrol ‘cannot be sustained any longer’ thus setting the stage for another rave of bewilderment in the country’s downstream oil sector. While government claims that the nation loses N2trn annually, how far can…

Read More

Dialogue may check attacks on oil facilities – Exxon boss

May 6, 2014

A combination of the instrument of dialogue and force would help in securing the oil facilities in Nigeria, the Managing Director, Exxon Mobil, Mark Ward, has said. Ward at an oil and gas conference in Lagos, said it is not good to use force always to protect oil installations in the country, arguing that force…

Read More

SUBSCRIBE TO LATEST ENERGY NEWS

Read the latest energy industry news and researched articles
for oil and gas, power generation, renewable energy, events and more...