An Oil and Gas expert, Mr Emmanuel Iheanacho, has said the improvement observed in the value of the naira, would not bring about an automatic reduction of petroleum pump price. Iheanacho, Chairman, Integrated Oil and Gas Ltd, said in an interview with the News Agency of Nigeria (NAN)...
oil and gas
The Group Chief Executive Officer, Nigerian National Petroleum Corporation Ltd (NNPCL), Mr Mele Kyari, on Thursday said the Port Harcourt refinery would begin production by end of March. Kyari said this after a meeting with the Senate Ad-hoc Committee, investigating the various Turn Around Maintenance (TAM) projects...
By JOY ADARA, Abuja – The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), Mr. Mele Kyari, says no public wealth creation endeavour can achieve any meaningful success without energy security. The GCEO stated this in a presentation at the Ministry of Finance Incorporated...
Shell has said it is working to extend the life of its Bonga Floating, Production, Storage, Offloading vessel by another 15 years. This would enable the company to handle more production from Nigeria’s first deep-water development which came on stream in 2005. The assurance was given in Lagos...
The Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr Gbenga Komolafe, says Nigeria has the potential to produce 2.2 million bpd as against the current production of between 1.5 million and 1.6 million. Komolafe disclosed this at the 8th Sub-Saharan Africa International Petroleum, Exhibition and Conference (SAIPEC) on...
By OLA MUDOPE, Lagos – In its avowed bid to drive and grow sustainable investments in Nigeria’s upstream for energy security and national economic development and in the process return value to all stakeholders, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Thursday met in Lagos with members...
Shell said it has reached an agreement to sell its Nigerian onshore subsidiary, the Shell Petroleum Development Company of Nigeria Limited (SPDC), to Renaissance. Renaissance is a consortium of five firms made up of four exploration and production companies based in Nigeria and also an international energy...
The Nigerian National Petroleum Company Limited (NNPCL) has generated N4.5 trillion as revenue for the federation for 2023 as at October, its Group Chief Executive Officer, Mr Mele Kyari has said. Kyari, said this in Abuja on Wednesday at an interactive session with the Senate Committee on...
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has signed two major agreements to deliver Liquefied Natural Gas (LNG) to the domestic gas market and the international LNG market. Held on the sidelines of the UN Climate Change Conference (COP28), NNPC Ltd. signed a Memorandum of Understanding (MoU)...
The media is somewhat awash with reports about broadening the government’s income base. It is commonsensical to grow inflow, flowing from the extant, age-old, and probably weather-beaten desire to diversify the nation’s revenue source from Oil. Agriculture, steel development, manufacturing, mining and quarrying, have among other sectors been proposed...
The National Oil Spills Detection and Response Agency (NOSDRA) has deployed an aircraft and five vessels to contain the oil leakage from Egina facility operated by TotalEnergies. According to the spills agency, the response aircraft and vessels were used to apply dispersants on the oil leak that...
Oil bearing communities in Bayelsa have bemoaned prolonged delays in the implementation of the host community fund component of the Petroleum Industry Act (PIA). Representatives of the communities expressed dismay that since the PIA came into effect in 2021, no meaningful development projects had been carried out due to...
By MBAFAN ADE, Abuja – The Nigerian Content Development and Monitoring Board (NCDMB) and SLB, a global technology company on Tuesday in Lagos unveiled the first three products of their joint program, the NCDMB-SLB Technology Enhancement Program (N-STEP), a platform whereby students of higher institutions develop software...
The president of the Senate, Dr Godswill Akpabio, says with careful planning and execution, Nigeria can meet the Organisation of Petroleum Exporting Countries (OPEC) quota of 1.8 million barrels per day. Akpabio spoke at the National Assembly Capacity Building Workshop organised by the Independent Petroleum Producers Group (IPPG)...
Seven communities at the Shell Petroleum Development Company (SPDC) Estuary Area (EA) in Bayelsa, have insisted on their autonomy in development matters. The communities in Ekeremor Local Government Area (LGA) said they will continue to resist plans by SPDC to join them with five others in the Host Community...
The Nigerian National Petroleum Company Limited (NNPC Ltd) has signed a Memorandum of Understanding (MoU) with the Nigerian Content Development and Monitoring Board (NCDMB) and International Oil Companies for optimal contracting cycle in the industry. The MoU will implement industry framework, focused on processes and timelines for achieving...
The Nigerian National Petroleum Company (NNPC) Limited. has signed up as a participant of the United Nations Global Compact, thereby becoming the first state-owned oil company to join the global initiative. Group CEO of NNPC Ltd., Malam Mele Kyari,, signed the Letter of Commitment, at the ongoing UN General...
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has threatened to revoke the licences of oil operators who failed to remit the three per cent statutory fees to oil communities before September ending. The NUPRC management on Friday said its attention had been drawn to the agitation by host...
The Nigeria LNG Ltd. (NLNG) says the operation at its plant on Bonny Island is ongoing, despite a Force Majeure that is still in effect. It said that the Force Majeure, caused by the unavailability of major liquids evacuation pipelines, was due to acts of sabotage and vandalism...
By ORKULA SHAAGEE, Abuja – Nigeria can overcome the challenges of environmental hazards posed by the exploration activities in the Oil and Gas industry, particularly in the oil producing areas with the deployment of adequate machinery, including human and material resources. The Country is believed to have...