Oil & Gas

How oil majors’ divestments boost Nigerian content

Feb 3, 2014

By sheer mix of happenstance and enterprise — not just by official implementation of the Nigerian content law in oil and gas — local operators are beginning to take measured (but significant) steps in the upstream sector. Although former president Olusegun Obasanjo’s policy allocated marginal fields to local firms with good technical partners, the decision…

Read More

DPR seals NNPC mega station, others for under dispensing fuel

Feb 3, 2014

For under-dispensing petroleum products to the public, the Department of Petroleum Resources, DPR, in Abia State, weekend, sealed the Nigerian National Petroleum Corporation, NNPC, mega station in Umuahia.The DPR also sealed seven other filling stations operating in the state for the same offence. Some marketers had, last week, created artificial scarcity of petrol in parts…

Read More

Oando secures funding for acquisition of upstream business from ConocoPhillips

Feb 2, 2014

Oando Energy Resources Inc. (“Oando Energy Resources” or the “Company“), a company focused on oil and gas exploration and production in Nigeria, today announced that, further to its press releases dated December 20, 2012, September 16, 2013 and November 28, 2013, it has, subject to, amongst other things, TSX approval, secured funding for the closure…

Read More

OPEC oil output rises in January from 2-1/2-year low – survey

Jan 31, 2014

OPEC’s oil output has risen in January from December’s 2-1/2-year low, due to a partial recovery in Libyan supply and higher shipments from Iraq and Iran, a Reuters survey found on Friday. Output from the Organization of the Petroleum Exporting Countries averaged 29.94 million barrels per day (bpd), up from a revised 29.63 million bpd…

Read More

NPDC targets 100,000 barrels per day production from divested oil fields in 2015

Jan 31, 2014

The Nigerian Petroleum Development Company is set to boost the nation’s crude oil production by additional 100,000 barrels per day from 2015 after tortuous negotiation with host communities from where Shell Petroleum Development Company divested five oil fields from. The NPDC which is the production arm of the Nigerian National Petroleum Corporation NNPC said First…

Read More

Lagos to supply gas to firms

Jan 31, 2014

The Lagos state government says it has concluded plans to make gas available for all businesses and corporate organizations operating on the Lagos Island Central Business District. Governor Babatunde Fashola disclosed this on Wednesday at a forum with major business owners on the Lagos Central Business District at the State House in Marina. He said…

Read More

PPMC raises concern over incessant pipeline vandalism

Jan 31, 2014

The Pipeline and Products Marketing Company, PPMC, yesterday raised concern over the incessant pipeline vandalism across the country. PPMC spokesman, Mr Nasir Imodagbe, raised the concern in an interview with the News Agency of Nigeria, NAN, in Abuja. He said that activities of oil thieves, who incessantly destroyed pipelines with the aim of stealing products,…

Read More

NNPC debunks rumour of imminent fuel scarcity

Jan 30, 2014

The Management of the Nigerian National Petroleum Corporation (NNPC) on Thursday dismissed the reports of looming fuel scarcity. A statement issued in Abuja by Dr. Omar Ibrahim, the General Manager, Public Affairs Division, NNPC, advised members of the public not to panic. It said that the NNPC, in spite of the unending challenges posed by…

Read More

2013 LNG sales down 3 percent – Shell

Jan 30, 2014

Shell said on Thursday its equity LNG sales volumes of 19.64 million tonnes in 2013 were 3% lower than in 2012, mainly reflecting lower volumes from Nigeria LNG due to reduced feedgas supply. Excluding the impact of the challenging operating environment in Nigeria, equity LNG sales volumes were in line with 2012, according to Shell.…

Read More

Presidency queries PPPRA over alleged N120b subsidy debt

Jan 30, 2014

The Presidency has ordered a quick resolution of issues around the delay in the 2014 first quarter fuel importation, **Daily Independent** gathered on Wednesday. In a swift reaction to Sunday’s warning by the Major Oil Marketers Association of Nigeria (MOMAN) of an impending acute shortage of products, a source at the Presidency told our correspondent…

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...