Oil & Gas

NPDC provides status reports for OMLs 30 and 34

Jun 9, 2015

The Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC) has provided status reports for OMLs 30 and 34 , which is aimed at disputing the claims by the new buyers of the assets that NPDC lacks the capacity to operate the blocks divested by Shell Petroleum Development Company (SPDC) and other…

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Nigeria can boost oil output through alternative JV funding – Seplat

Jun 9, 2015

Seplat Petroleum Development Co. has said that Nigeria can boost its oil and gas production by changing the way capital investments are funded in its joint ventures with oil companies, Bloomberg reports. State-owned Nigerian National Petroleum Corp. (NNPC), holds an average 55 percent stake in five joint ventures with Royal Dutch Shell Plc, Exxon Mobil…

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We have supplied all fuel cargoes to NNPC – Ontario

Jun 9, 2015

Ontario Oil & Gas Limited has provided clarification on its involvement in the crude for petroleum products exchange agreement, better known as crude oil swaps, with the Nigerian National Petroleum Corporation (NNPC), stating that it has not been indicted for fraud in the ongoing investigation by the Economic and Financial Crimes Commission (EFCC) and/or the…

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Panoro Energy announces rig contract with Saipem for Aje field

Jun 8, 2015

Panoro Energy ASA (OSE ticker code “PEN” or the “Company”), an independent oil and gas E&P company focused on West Africa, provides the following operations update. The operator of the OML113 license has, on behalf of the joint venture partners, entered into a rig contract with Saipem for the Scarabeo 3 drilling rig to carry…

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Nigeria LNG cargo heading for Spain

Jun 8, 2015

A shipment of LNG from Nigeria on board the LNG Rivers tanker, with a capacity of 135,000 cubic metres, is expected at the Huelva terminal in Spain on June 15, according to LNG World News. The Bonny Island facility, operated by Nigeria LNG, currently has six trains in operation with a total capacity of some 22…

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Taleveras clarifies position on crude oil swaps, says it was not asked to refund $115m

Jun 8, 2015

Oil and gas trading firm, Taleveras Petroleum Trading BV, has provided clarification on its involvement in the crude for petroleum products exchange agreement, better known as crude oil swaps, with the Nigerian National Petroleum Corporation (NNPC), This Day reports. In a statement provided by the company founded by Mr. Igho Sanomi, Taleveras stated that in…

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NNPC officials, oil traders allegedly interrogated and investigated over crude oil swap arrangement

Jun 8, 2015

A major investigation is underway in the oil and gas sector as the Economic and Financial Crimes Commission (EFCC) and The Department of State Security (DSS) are investigating the crude oil swap programme and the Offshore Processing Agreements (OPAs) involving the Nigerian National Petroleum Corporation (NNPC) and some local oil and gas companies. The probe,…

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FG, marketers pledge to end fuel scarcity this week

Jun 7, 2015

The federal government and stakeholders in the downstream sector of the petroleum industry have pledged to end the lingering fuel crisis in the country this week, Leadership reports. This development was disclosed by the Permanent Secretary, Ministry of Petroleum Resources, Mr. Taiye Haruna after a meeting between officials of the ministry, its agencies and stakeholders…

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Rehabilitate railways for petroleum haulage – NUPENG

Jun 7, 2015

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), has promised to continue to train and re-orient tanker drivers on safe driving to reduce accidents on the roads and also asked the Federal Government to rehabilitate railways for petroleum haulage, Vanguard reports. The union gave the assurance in a statement signed by its President,…

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Nigeria still retains position as OPEC president – NNPC

Jun 5, 2015

A competent official of the Nigerian National Petroleum Corporation (NNPC) has said Nigeria will still retain its seat as the President of the Organisation of Petroleum Exporting Countries (OPEC), Leadership reports. The official, who preferred anonymity, said the exit of the former Minister Petroleum Resources, Mrs Diezani Alison-Madueke, had nothing to do with the status…

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