Oil & Gas

Downstream operators groan under multiple regulations

Sep 24, 2013

Operators in the downstream sector of Nigeria’s oil and gas industry are groaning under conflicting operating requirements imposed by different government agencies, including the Department of Petroleum Resources (DPR), Standards Organisation of Nigeria (SON), Ministry of Environment, Weights and Measures, Nigeria Police and the Town Planning Authority, among others, THISDAY has learnt. These agencies, it…

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FG pays N287bn to oil marketers

Sep 24, 2013

The federal government has paid a total of N287,351,770,696.16 as subsidy on verified claims to marketers this year with subsidy payments expected to decline from N2.2 trillion in 2011 to N971 billion this year. This represents a reduction of over N1.2 trillion or 56 per cent. The latest payment of N46.7 billion was made in…

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NNPC claims 400,000 b/d oil output restored

Sep 24, 2013

The NNPC on Sunday said a daily production of 400,000 barrels per day had been restored to the crude oil output available for export in the country. The corporation’s Acting General Manager (Public Affairs), Miss Tumini Green, stated this in a statement she issued in Abuja on Sunday. “The restoration of the 400,000 barrels to…

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SPDC declares force majeure on 150,000bpd, gas supply to NLNG

Sep 24, 2013

The Shell Petroleum Development Company of Nigeria Limited (SPDC) operated Joint Venture last night, said it had declared force majeure on export of 150,000 barrels per day of Bonny Light grade of crude oil and gas supply to the Nigeria Liquefied Natural Gas (NLNG) Limited. The declaration of force majeure, which took effect yesterday, followed…

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NNPC plans integration into Customs single window platform

Sep 23, 2013

The Nigeria National Petroleum Corporation (NNPC) has expressed interest in being integrated to the Single Window (SW) platform of the Nigeria Customs Information System (NICIS). This was revealed in a memo sighted by Vanguard, which reads in part, “NNPC has expressed its interest in being integrated to the Single Window platform in order to have…

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Faulty concession legal framework hampers port services — ANLCA

Sep 23, 2013

National President, Association of Nigerian Licensed Customs Agents (ANLCA), Alhaji Olayiwola Shittu, has blamed the total concession of Nigerian ports for their poor services. The News Agency of Nigeria (NAN) quoted Shittu as saying, in Lagos, that some stakeholders had pointed out some problem areas in the current arrangement when the port concession began seven…

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NNPC lauds NEC’s approval of N15bn for pipeline protection

Sep 23, 2013

The Nigerian National Petroleum Corporation (NNPC) has lauded the National Economic Council (NEC) for approving about N15 billion as part of measures for adequate policing of oil and gas installations in the Niger Delta region to stem crude oil theft. NNPC also commended the efforts of the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, in…

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FG saved N879bn from fuel price increase, reforms – Alison Madueke

Sep 23, 2013

The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has stated that the federal government saved N879,billion in 2012 as a result of the increase in the price of petrol from N65 to N97 per litre and the reduction in national consumption of petrol. This is just as the Nigerian National Petroleum Corporation (NNPC) has credited…

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Theft-plagued Nigeria pipeline shuts again – Shell

Sep 22, 2013

Royal Dutch Shell (RDSa.L) has closed a key oil pipeline due to oil theft less than a week after it announced it had reopened, underscoring the huge challenges faced by Africa’s largest oil exporter. Leaks from crude oil theft on the Trans Niger Pipeline in Nigeria have continued, causing a further shut-in of Bonny Light…

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Nigeria is Africa’s busiest drilling site

Sep 20, 2013

Nigeria’s rig count of 43 in August 2013 accounts for more than a third of Africa’s total rig count of 125 for the month. Of the details provided by the Nigerian chapter of the International Association of Drilling Contractors, Shell, the country’s largest operator, utilized nine rigs in all, with eight (8) on onshore locations…

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