Oil & Gas

968 oil tankers successfully lift 82.1m mt of crude — Navy

Sep 27, 2013

The Nigerian Navy has declared that following strong surveillance and response capability of the force at sea with regards to ensuring security and safety, over 968 crude oil tankers successfully lifted 82, 122, 452 metric tons of crude oil on behalf of the federal government between January and September 2013, without being attacked by pirates…

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NIMASA pledges Cabotage implementation

Sep 27, 2013

The Director General of the Nigerian Maritime Administration and Safety Agency, NIMASA, Mr. Ziakede Akpobolokemi, has assured all indigenous operators in the maritime sector of the agency’s commitment to protect their rights under the Cabotage regime. He said this in a goodwill message at the launching of two 45,000 metric tonnes sea-going vessels, MT Abiola…

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Nigeria LNG says it is coping with cut in gas supply by Shell

Sep 27, 2013

Nigeria LNG Ltd, owners of the six train Bonny LNG plant in Nigeria’s Niger Delta region, Thursday said production has not been disrupted, four days after Shell reduced the gas supply. “We are coping at NLNG with the cut in gas supply. The six-train NLNG plant is running normally without any challenges,” an NLNG spokeswoman…

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PIB to increase domestic refining capacity – GMD NNPC

Sep 27, 2013

The Nigerian National Petroleum Corporation, NNPC is optimistic that the Petroleum Industry Bill, PIB currently before the National Assembly for legislative action will boost domestic refining in the country. Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Andrew Yakubu, stated this in Abuja while delivering an address at the Annual Upstream and Downstream…

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FG to stop fuel imports by 2017 – Aganga

Sep 27, 2013

Nigeria would by 2017 stop importation of refined petroleum products as its crude oil would be processed locally,  Minister of Industry, Trade and Investment Olusegun Aganga has said. Aganga disclosed this while representing President Goodluck Jonathan at the African Business Roundtable in New York, United States, on Tuesday. He said that government is planning to…

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Tin Can Port congestion: FG’s axe dangles over terminal operator

Sep 27, 2013

The Federal Government might come heavily on Tin Can Island Container Terminal Limited, the concessionaire in charge of Ashaye terminal of the Tin Can Island Port Complex over the massive cargo congestion that has rocked the terminal which has been blamed on poor logistics. The two major associations; National Association of Government Approved Freight Forwarders…

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Adulterated fuel, diesel flood markets, DPR admits

Sep 27, 2013

The nation’s petroleum products market is currently flooded with adulterated products, Department of Petroleum Resources (DPR), admitted on Thursday. Products like Premium Motor Spirit (PMS), also known as petrol, and Automobile Gas Oil (AGO), or diesel, are commonly used for domestic and automobile, and their adulteration usually causes explosion that result in social and economic…

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‘Nigerian ports handle 2,427 vessels in six months’

Sep 27, 2013

Besides crude oil terminals, 2,427 ocean going vessels with a total Gross Registered Tonnage (GRT) of 60,096,179 gross tons called at Nigerian Ports in the first half of this year (2013). Gross Registered Tonnage (GRT) is a ship’s total internal volume expressed in “register tons”, one of which equals to a volume of 100 cubic…

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DPR laments non-production by marginal fields

Sep 27, 2013

The aspiration of the Federal Government to grow the country’s oil reserves to 40 billion barrels has suffered a major setback as over 80 per cent of the oil blocks awarded between 2003 and 2007 have failed to commence production. The Director, DPR, Mr. George Osahon, who addressed a gathering of marginal field operators in…

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Nigerian ship owners decry Govt neglect

Sep 27, 2013

Nigerian ship owners have raised the alarm over government neglect of the shipping sector of the economy. The ship owners, under the aegis of Indigenous Shipowners Association of Nigeria (ISAN), said the government’s inability to match words with action was the main reason why the huge potential of the maritime sector of the economy has…

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