Oil & Gas

NCDMB concludes categorisation, audit on local marines firms

Oct 24, 2013

The Nigerian Content Development and Monitoring Board (NCDMB) has concluded the categorization and audit exercise on indigenous marine firms with a view to ensuring that they are  first considered in the award of contracts in the oil and gas industry. In a marine vessel categorization procedure, the Board categorise indigenous marine firms into about five…

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Indigenous operators’ll buy more IOC assets – Seplat boss

Oct 24, 2013

The Chairman, Seplat Petroleum Development Company, Dr. A.B.C. Orjiako, has said that indigenous exploration and production companies will remain the preferred buyers in onshore and shallow waters asset divestments by international oil companies operating in the country. He was in a statement on Wednesday quoted as making this assertion at the PWC Oil and Gas…

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Refinery fire: Amnesty Office dismisses MEND’s claim

Oct 24, 2013

The Amnesty Office has dismissed the claim by the Movement for the Emancipation of the Niger Delta, a militant group, that it was responsible for the inferno at the Warri Refinery and Petrochemical Company on Tuesday. The 35-year-old Warri Refinery, a subsidiary of the Nigerian National Petroleum Corporation, went up in flames on Tuesday morning…

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Firm strikes oil in Northern Niger Delta

Oct 23, 2013

Newcross Petroleum Limited, the Operator of OPL 283 (formerly OML56) under a Production Sharing Contract with Nigeria National Petroleum Corporation (NNPC) (as the concessionaire), has announced a new oil discovery in its Efe oil field with the support of the corporation and the Department of Petroleum Resources (DPR). Efe First well is located in the…

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‘Why Nigerian ports enjoy more patronage’

Oct 23, 2013

Despite the high cost of cargo clearance, Nigeria’s ports are busier than those in neighbouring countries because of the viability of the economy, Senior Special Assistant to the President on Maritime, Olugbenga Leke Oyewole. He said this in Lagos while responding to allegations by shippers that the cost of cargo clearance is higher at the…

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Explosion rocks Warri Refinery, MEND claims responsibility

Oct 23, 2013

The Movement for the Emancipation of the Niger Delta (MEND) Tuesday claimed responsibility for the explosion that rocked the Warri Refinery and Petrochemical Company (WRPC) in Delta State. MEND in a statement signed by its spokesman, Jomo Gbomo, said the attack on the oil facility was an indication that ‘Hurricane Exodus’ was on course. The…

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Debate on Shell, Chevron blocks’ sale on Nigeria’s oil industry

Oct 22, 2013

The Federal Government last Wednesday broke its silence on the sale of stakes in oil blocks by International Oil Companies in Nigeria. The Nigerian National Petroleum Corporation (NNPC), which represents the government in the ventures dismissed the threat posed by this recent spate of divestments from certain onshore oil blocks by Shell, Chevron and other…

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Shale oil: ‘Nigeria should focus more on agric, manufacturing, power’

Oct 22, 2013

Against the backdrop of continued drop of United States’ (US) imports of crude oil from Nigeria as a result of the US shale oil boom, an analyst at PricewaterhouseCoopers (PwC) has urged the government and stakeholders to give more priority attention to the development of the agricultural, manufacturing and power sectors. Andrew Nevin, partner and…

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Baro River Port to be ready in 2014, says minister

Oct 22, 2013

The Minister of Transport, Malam Idris Umar, in Abuja on Friday said the Baro River Port in Niger would be completed and inaugurated in the first quarter of 2014. Umar made the statement at the inauguration of the boards of National Inland Waterways Authority (NIWA) and the Nigerian Institute of Transport Technology (NITT). The NITT…

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Nipco to open more fuel outlets

Oct 22, 2013

Nipco plc, one of the nation’s indigenous major oil companies has concluded plans to ensure that petroleum products get to the consumer through the acquisition of retail outlets in strategic locations across the country in two separate schemes. The company will achieve that through schemes such as, Dealer Owned-Dealer Operated (DODO) which are on long…

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