Category: Energy

NNPC, SEEPCO Seal Gas Development Deal
September 27, 2020 No Responses

NNPC, SEEPCO Seal Gas Development Deal

The Nigerian National Petroleum Corporation (NNPC) and Sterling Exploration and Energy Production Company (SEEPCO) have signed an agreement for the development and commercialisation of gas from the Oil Mining Lease (OML) 143.  NNPC in a statement issued on Saturday by...
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Nigeria To Harness Auto Gas As Alternative To Petrol
September 27, 2020 No Responses

Nigeria To Harness Auto Gas As Alternative To Petrol

The Federal Government of Nigeria will focus on developing Compressed Natural Gas (CNG) otherwise known as auto gas, in order  to offer Nigerians an effective option to petrol, Vice President Yemi Osinbajo has said   The vice president’s spoke...
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Local Content: NNPC Seeks Capacity Upgrade for Indigenous Operators
September 23, 2020 No Responses

Local Content: NNPC Seeks Capacity Upgrade for Indigenous Operators

In order to achieve the target of reducing the cost of oil production in Nigeria on a sustainable basis, the Nigerian National Petroleum Corporation (NNPC) says indigenous companies operating in the nation’s oil and gas sector must upscale their capacity...
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Oil Subsidy Gulps N8.9trillion In 10 Years
September 22, 2020 No Responses

Oil Subsidy Gulps N8.9trillion In 10 Years

Between 2006 and 2015, the Federal Government of Nigeria spent a total of N8.94 trillion on oil subsidy, the Petroleum Products Pricing Regulatory Agency (PPPRA) has said.  A document on subsidy issued by PPPRA on Monday explained that the subsidy...
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Shell Unveils Major Cost-Cutting Drive
September 22, 2020 No Responses

Shell Unveils Major Cost-Cutting Drive

Royal Dutch Shell is looking to slash up to 40 per cent off the cost of producing oil and gas in a major drive to save cash so it can overhaul its business and focus more on renewable energy and power...
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Oil Refineries Struggle With Weak Demand Worldwide
September 21, 2020 No Responses

Oil Refineries Struggle With Weak Demand Worldwide

Global oil refiners reeling from months of lackluster demand and an abundance of inventories are cutting fuel production into the autumn because the recovery in demand from the impact of coronavirus has stalled, according to executives, refinery work...
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NNPC Shortlists 78 Firms For Pipelines Rehabilitation
September 19, 2020 No Responses

NNPC Shortlists 78 Firms For Pipelines Rehabilitation

The Nigerian National Petroleum Corporation (NNPC) has shortlisted 78 companies to bid for the rehabilitation of oil pipelines and deport infrastructure across the country. The News Agency of Nigeria (NAN) recalls that over 300 companies applied thro...
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Shell Tasks Energy Stakeholders On Local Content
September 17, 2020 No Responses

Shell Tasks Energy Stakeholders On Local Content

The Managing Director, Shell Nigeria Exploration and Production Company Ltd (SNEPCo), Mr Bayo Ojulari, has challenged indigenous players in the energy sector to collaborate as part of measures to increase local content. Ojulari said this while speaking at the ...
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Total Secures $3.5b Oil Pipeline Deal
September 14, 2020 No Responses

Total Secures $3.5b Oil Pipeline Deal

French oil giant, Total on Sunday sealed $3.5billion oil pipeline deal with the Governments of  Tanzania and Uganda.   The deals entails the construction of a 1,445 km (898 miles) crude oil pipeline.   The plans along with China&#...
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Oil Extends Losses As Stockpile Rise Amid Weakening Demand
September 12, 2020 No Responses

Oil Extends Losses As Stockpile Rise Amid Weakening Demand

Oil prices fell for a second day on Friday, pressured by a surprise rise in U.S. stockpiles as the coronavirus pandemic continues to erode demand for fuels.Brent crude was down 18 cents, or 0.5%, at $39.88 a barrel by 0337 GMT, after fallin...
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Oil Prices Slip
September 10, 2020 No Responses

Oil Prices Slip

Oil futures fell in early trade on Thursday, paring overnight gains, on worries about fuel demand after data showed U.S. crude stockpiles rose last week, rather than dropping as expected, and COVID-19 cases continued to rise aroun...
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Crude Affreightment: NIMASA Revives Move to Change Terms of Trade
September 7, 2020 No Responses

Crude Affreightment: NIMASA Revives Move to Change Terms of Trade

The Nigerian Maritime Administration and Safety Agency (NIMASA) has revived efforts to change the Terms of Trade for the affreightment of Nigerian crude oil from Free on Board (FOB) to Cost Insurance and Freight (CIF).  Director-General of NIMASA, Dr. Bas...
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DPR Generates N673.7b Revenue In Six Months
September 2, 2020 No Responses

DPR Generates N673.7b Revenue In Six Months

The Department of Petroleum Resources (DPR) has generated a total sum of N673.7 billion in the first half of this year.   Its Spokesman, Paul Osu, explained in a statement that the Director of DPR, Mr Auwalu Sarki, disclosed this...
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Arunma Oteh, Rolet, Join SEPLAT’s Board
August 28, 2020 No Responses

Arunma Oteh, Rolet, Join SEPLAT’s Board

The Board of Directors of Seplat Petroleum Development Company Plc has announced the appointment of Ms. Arunma Oteh, OON and Mr. Xavier Rolet KBE as Independent Non-Executive Directors of the Company with effect from October 1, 2020.   Ms. Arunm...
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