Category: Oil & Gas

NNPC Releases 66th Monthly Report, Downs Pipeline Vandalism by 37.2% in Jan

Efe Wellington

  The Nigerian National Petroleum Corporation (NNPC) on Tuesday deepened its culture of transparency as it released the 66th edition of its Monthly Financial and Operational Report (MFOR) in which it announced a 37.21 % decrease in cases of pipeline vandalism across the country in the month of January 2021. This report, according to a press release by the Group General Manager, Group Public Affairs Division of the Corporation, Dr. Kennie Obateru, indicates that a total of 27 pipeline points were vandalized in January 2021 down from the 43 points…

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More IOCs may lose oil blocks, Nigeria talks tough on OMLs revocation

Efe Wellington

  Here is why DPR tagged some oil firms “economic saboteurs,” revoked Addax Petroleum Nigeria oil blocks   More oil producers in Nigeria may lose mining leases as the government talked tough on activities of some of them it tagged as “economic saboteurs.” The government has also given reasons it revoked six Oil Mining Leases (OML) initially given to International Oil Companies (IOCs) including Addax Petroleum Nigeria Limited. Oil industry regulator, Department of Petroleum Resources (DPR), which declared this, added that the oil block leases were revoked due to the…

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NNPC in epoch-making haulage of 96 line pipes for $2.8bn AKK project

Aliyu Aliyu

  Phase one of 1,300km Trans-Nigerian Gas Pipeline (TNGP) project for gas delivery to Europe received a boost   The execution of $2.8 billion Ajaokuta-Kaduna-Kano, AKK gas pipeline project was boosted at the weekend through the delivery of 96 pipes from Warri Southsouth region to Itakpe in Kogi state, Northcentral Nigeria by rail. The conveyance by rail was made possible through the efforts of the Nigerian National Petroleum Corporation, NNPC, a major stakeholder in the project. The Corporation, which confirmed this in a message obtained by Platforms Africa from its…

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Eni pushes Angola, Nigeria’s biggest rival, ahead with 250m bbls oil discovery

Aoko Benjamin

  How Nigeria is losing out + why IOCs shrink investment for oil discovery in country, surged funding for Angola oil acreages   Italian firm Eni has made a new light oil discovery off the coast of Angola after exploration activities recommenced following a year of pandemic restrictions. This discovery and advancement in renewables makes Angola to the African Oil giant to watch in the next five years. The discovery, made on Tuesday, is in Angola’s deepwater Block 15/06. Eni believes the exploration well, drilled at 500 metres in the…

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Why we approached NCDMB for Collaboration – Nigerian Amnesty Boss

Efe Wellington

  The Presidential Amnesty Programme (PAP) has declared that it decided to approach the Nigerian Content Development and Monitoring Board (NCDMB) based on the board’s industry role, which will be of immense benefit to get the ex-agitators to become entrepreneurs and employers of labour. PAP and the NCDMB, Platforms Africa reports, agreed to work together to build the capacity of beneficiaries of the amnesty programme. Interim Administrator of the PAP,  Milland Dixon Dikio while enumerating the vision and strategic plan of the PAP under him, said everything is being done…

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NNPC, Italian firm Technimont ink $1.5bn deals For PH Refinery Repair

Efe Wellington

  The Nigerian National Petroleum Corporation and Italian Engineering giant, Maire Tecnimont, have signed off on the $1.5 billion contract to repair the Port Harcourt Refinery. The contract was signed on Tuesday morning by the Managing Director of the Refinery, Ahmed Dikko as well as the Vice President ofTecnimont, Sub-Saharan Africa, Davide Pellizola. Tecnimont SpA, an Italian engineering company, is to handle the engineering procurement and construction (EPC) contract for the rehabilitation of the 210000 barrels per day capacity refinery in Rivers state, Southsouth Nigeria. The contract is expected to…

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Nigeria Eyes $8.7bn Investments from Refineries, Pipelines’ Repairs

Efe Wellington

  Mele Kyari: Corporation remains destination of choice for global investors The Nigerian National Petroleum Corporation (NNPC) expects an investment of about $8.7 billion to flow in during the rehabilitation of the Warri Refinery and Petrochemical Company (WRPC), the Kaduna Refinery and Petrochemical Company (KRPC), as well as the revamping of some of its 5,000-kilometre pipelines throughout the country. In a virtual presentation titled: “Accessing Energy Infrastructure Opportunities at the NNPC”, at an event hosted by the United States Department of Commerce, the Group Managing Director of the NNPC, Mallam…

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Afreximbank’s $1bn fund for PH Refinery Rehab, fruit of transparency- Kyari

Aliyu Aliyu

. As NNPC, NEITI Renew Commitment to Deepen Transparency The Nigerian National Petroleum Corporation (NNPC) on Thursday declared that it secured financing agreement for the rehabilitation of the Port Harcourt Refinery by the African Export Import Bank (Afreximbank) as a fruit it reaped from its transparency and accountability. Though the rehabilitation is to gulp $1.5 billion, the financing deals secured from the Afreximbank, Platforms Africa gathered, is $1 billion. Group Managing Director of the NNPC, Mallam Mele Kyari, said while playing host to the management team of the Nigeria Extractive…

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Why NCDMB investments limited to Govt Policies, Projects – Wabote

Efe Wellington

  The Nigerian Content Development and Monitoring Board (NCDMB) has said that it would not invest in competitive business areas because such investments would compromise its morale position as a regulatory agency. The board added it only partners with strategic policies and projects that are promoted by the Federal Government and would not invest in oil and gas businesses that have competitive private players. The Executive Secretary of NCDMB, Engr. Simbi Kesiye Wabote made the clarification on Tuesday when he hosted members of the Women in Energy Oil and Gas…

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