General Electric, along with some Nigerian companies in the power and gas sector, is devising a solution that could improve power supply by stepping up gas deliveries to generating plants in the country. Explaining the process, Lazarus Angbazo, president and chief executive officer of General Electric in Nigeria, said it entailed the collection of gas …
Read MoreThe Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has reeled out measures to ensure round-the-clock availability of petrol across the country in a deft move aimed at sanitising the nation’s fuel supply and distribution system. Under the arrangement which the Nigerian National Petroleum Corporation (NNPC) stated in a statement yesterday, the minister had approved the…
Read MoreIndications have emerged that the current fuel scarcity across the country will not come to an end soon, following the Federal Government’s N151 billion indebtedness to oil marketers. While the Independent Petroleum Marketers’ Association of Nigeria, IPMAN, said that the Federal Government still owes oil marketers N151 billion outstanding fuel subsidy claims, the executive secretary…
Read MoreOando Energy Resources Inc. , a company focused on oil and gas exploration and production in Nigeria, has paid a previously agreed upon deposit of $25 million for the extension of the outside completion date for the acquisition of the Nigerian Upstream Oil and Gas Business of ConocoPhillips. The $25 million deposit was required to…
Read MoreThe Nigerian National Petroleum Corporation, NNPC, and its downstream subsidiary, the Pipelines and Products Marketing Company, PPMC, have injected 293, 326, 011 litres of premium motor spirit, otherwise called petrol, into filling stations across the country . The Corporation explained this was part of measures put in place to ensure a hitch free Easter celebration…
Read MoreSeplat Petroleum Development Co., a Nigerian oil producer that raised about $500 million in initial share sale this month, expects the African nation to almost stop burning natural gas at oil fields within five years as the domestic fuel market becomes more profitable. Seplat, which flares or burns off about 26 MMcf of gas a…
Read MoreThe celebration of the 4th anniversary of Nigerian Content Act took off on a remarkable note on Monday as an indigenous oil servicing company, Tolmann Allied Services, opened a Deepwater Simulation Theatre (DST) at its new office complex in Port Harcourt, Rivers State. The DST – the first in Africa and third in the world…
Read MoreMajor Oil Marketers Association of Nigeria (MOMAN) has dispelled fears of possible fuel scarcity during the Easter period, saying it has made arrangements to provide adequate fuel for the public. Its Executive Secretary, MOMAN, Mr. Obafemi Olawore, told reporters in Lagos yesterday that the association and the Nigerian National Petroleum Corporation (NNPC), would ensure that…
Read MoreThe United States of America’s crude oil production has increased dramatically in the past few years, from less than one million barrels per day (mbd) in 2010 to more than three mbpd in the second half of 2013, the U.S Energy Information Administration (IEA) has said. The IEA expects the U.S production to reach 9.1mbpd…
Read MoreSpeculations in some quarters that the first industrial gas city might be relocated from its present location in Delta State was yesterday laid to rest as President Goodluck Jonathan is expected to perform the groundbreaking ceremony in no distant future. Governor Emmanuel Uduaghan disclosed this yesterday while inspecting the site of the $16 billion Gas…
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