Oil & Gas

Oil-rich Delta community petitions FG over $16bn gas project

Jan 10, 2014

The Ugborodo Community in Warri South West Local Government Area of Delta State has appealed to President Goodluck Jonathan to call on the state government to stop meddling into the internal administration of the community, saying the interference of the state government was the cause of the crisis in the area and the controversy involving…

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Apapa explosion : It is time to take tankers off the roads, warns Fashola

Jan 10, 2014

Gov. Babatunde Fashola of Lagos State on Thursday said he was devastated by Tuesday’s petroleum tanker fire which resulted into loss of lives and property worth millions of Naira. Speaking to newsmen after inspecting some ongoing projects in Ikorodu, the governor said he was overwhelmed by the tragedy. He said that the incident reinforced the…

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PPPRA berates marketers for raising fear of scarcity

Jan 9, 2014

The Petroleum Products Pricing Regulatory Agency (PPPRA) has blamed petroleum marketers for the speculations about a looming fuel scarcity, a grand design to create panic buying and profit from the resulting crisis. The Executive Secretary of the agency, Mr Reginald Stanley, who disclosed this, assured Nigerians that there was sufficient premium motor spirit (PMS) in…

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Shale oil boom to reduce OPEC’s production

Jan 9, 2014

The threat of shale oil on conventional crude oil production may have become real afterall. Reason: A report from the United States Energy Information Administration (EIA) has projected dwindling fortunes for oil producing countries, courtesy of the rising profile of the North American country’s shale oil production. To be affected by the report’s assessment are…

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Uduaghan: Gas city project won’t be moved from Ugborodo

Jan 9, 2014

Delta State Governor, Dr. Emmanuel Uduaghan, has said there was no plan to relocate the multi-billion dollar, first Nigerian Gas City Project from the oil-rich  community of Ugborodo, Warri South-West Local Government Area of the state, despite the lingering local  leadership tussle. The governor also assured that the federal government was poised to clip the…

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Olodi Apapa – 15 feared dead in tanker explosion

Jan 8, 2014

About 15 people may have died of a petrol tanker explosion which occurred late Tuesday night at Olodi Apapa, Lagos. Reports have it that the explosion led to the destruction of buildings and vehicles in the area. Sources said that the incident occurred during discharge operation from an oil barge into a facility at a…

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Korea Gas receives LNG spot cargo from Nigeria at Pyeongtaek

Jan 8, 2014

Korea Gas Corp.,the world’s largest commercial buyer of liquefied natural gas, received a spot cargo from Nigeria, ship-tracking data show. The Methane Heather Sally, with about 143,000 cubic meters of capacity, docked at the Pyeongtaek terminal on South Korea’s west coast today, according to transmissions captured by IHS Fairplay on Bloomberg. It loaded the supercooled…

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CAMAC secures FPSO ARMADA PERDANA for up to seven years offshore Nigeria

Jan 8, 2014

CAMAC Energy has announced that a letter of intent (‘LOI’) has been signed regarding terms and conditions of a long-term agreement for the floating, production, storage, and offloading system (‘FPSO’) ARMADA PERDANA. The signed LOI provides for an initial term of five years beginning January 1, 2014, with an automatic extension for an additional term…

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Delay in releasing list of marginal fields for auction worries prospective bidders

Jan 8, 2014

The air of uncertainty over when the list of marginal fields to be put on offer in the next licensing round would be released has continued to put prospective investors on edge, fuelling concerns over the transparency of the process. Interested investors are increasingly worried that one month after the announcement of the bid round,…

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Vitol offers to sell Bonny Light

Jan 8, 2014

Vitol, a major crude oil trading firm has offered to sale Bonny Light, Nigeria’s premium oil grade from January 15, this year. The trading house said to have offered the crude estimated to be many million barrels also has commercial quantity of Forcados crude for the same delivery period. Bloomberg stated that Nigeria’s government averted…

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