Oil & Gas

FG set to review domestic gas price

Jan 13, 2014

In line with the Federal Government’s aspiration to set domestic gas price at parity with export price in order to boost gas supply for power generation and other domestic uses, the government is set to embark on another upward review of domestic price, the fourth in the series, THISDAY has gathered. The plan to continuously…

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Lagos tanker fire – Stakeholders want tank farms relocated

Jan 11, 2014

Victims of last Tuesday’s inferno in Apapa area of Lagos State where 15 people were burnt to death, have called on the government to relocate the fuel tank farms from their present location in Apapa, saying the number of casualties arising from tanker-related accidents in the area was on the increase. Also, the victims want…

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Oando extends gas distribution to Marina central business district

Jan 10, 2014

Nigeria’s indigenous energy group, Oando Plc, said it has concluded plans to extend natural gas distribution network of its Greater Lagos Area franchise from Ijora to the Marina Central Business District. The project, which is being executed by one of its subsidiaries, Gaslink Nigeria Limited in conjunction with Oilserve Limited, will increase available gas distribution…

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Heritage Oil reports big increase in production from OML 30

Jan 10, 2014

Heritage Oil Plc Thursday said oil production at its OML 30 licence in Nigeria vastly increased in its fourth quarter. The exploration and production oil and gas company said daily production from the OML 30 licence had reached over 50,000 barrels of oil per day, while average net production for the fourth quarter as a…

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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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