Category: Oil & Gas

“False Alarm,’ NNPC Replies Atiku, Clears Air On OVH Acquisition

Aliyu Aliyu

“Neither Wale Tinubu nor the President has any interest in the OVH acquisition.”   The Nigerian National Petroleum Company Limited (NNPC) has declared as a false alarm, a statement credited to former Vice president Atiku Abubakar where he alleged shoddy deals in the acquisition of OVH assets. Platforms Africa reports that the company made this know in a statement by its spokesman, Olufemi Soneye. Here below is the statement. The attention of NNPC Ltd has been drawn to a press release signed by Mr. Paul Ibe, a Media Adviser to…

Read More

How NNPCL’s N2.1tn Dividend, N2.6tn Tax’ll Lessen FG’s Financial Burden – Chukwu

Aliyu Aliyu

‘Historic profit before tax of N5.98tn,’ Cowry Assets’ CEO underscores key points in NNPCL 2023 financial books     The Chief Executive Officer of Cowry Assets Management Ltd, Jonhson Chukwu has said that the dividend and taxes paid by the Nigerian National Petroleum Company Ltd will reduce the financial burden of the federal government. Chukwu said this in response to the record performance of the state-owned company after it released its financial accounts for 2023. It has been reported that the company made N3.297tn net profit for 2023 which surged…

Read More

‘Not Correct;’ NNPC Punctures Report On $6.8bn Debts

Aliyu Aliyu

The Nigerian National Petroleum Company Limited (NNPCL) has refuted report that it was indebted to international oil traders to the tune of $6.8 billion. Platforms Africa reports that the company said this through a statement signed by its spokesman, Olufemi Soneye. NNPC Releases Fresh Message For Job Seekers Here is the statement. The attention of the Nigerian National Petroleum Company Limited (NNPC Ltd.) has been drawn to a media report that the company is indebted to international oil traders to the tune of $6.8bn and that it has not remitted…

Read More

“900k To 1.53m bopd,” Mele Kyari’s Magic That Rebooted Nigeria’s Output

ADEOLA YUSUF

“Not just gloom and doom and missed deadlines for delivering on refinery overhauls and construction of grid length gas pipelines,” Full report on First E&P narration of how NNPC saved company, provided visionary leadership for industry   Despite the harsh criticisms of the Nigerian National Petroleum Company Limited (NNPCL), the national oil company under Mele Kyari as Group CEO, has in recent times worked very hard to improve Nigeria’s daily crude production by as much as 60,000 barrels per day, it was learnt yesterday. Slowly and steadily, the Group Chief…

Read More

NCDMB Hails BEAMCO For Local Assembly Of Train 7 Equipment

ADEOLA YUSUF

The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe, on Tuesday visited the facilities of BEAMCO Nigeria Limited in Lagos and commended the oil and gas service firm for the giant strides it recorded in oil and gas equipment components manufacturing. Specifically he lauded the Nigeria Liquefied Natural Gas (NLNG) Limited, Saipem-Daewoo Joint Venture, and BEAMCO Limited for enhanced in-country value addition, as locally assembled pumps and valves are set for installation and pre-commissioning preparations on the multibillion-dollar NLNG Train-7 project on Bonny Island, Rivers…

Read More

NCDMB, Petroleum Commission Ghana Begin Technical Cooperation

ADEOLA YUSUF

In furtherance of its long-standing support to African oil and gas producing countries and development of local content in the continent, the Nigerian Content Development and Monitoring Board (NCDMB) on Monday in Lagos began a five-day knowledge sharing programme with the Petroleum Commission of Ghana. The engagement seeks to establish technical cooperation between the NCDMB and the Ghanaian Commission through capacity building and learning from the Board’s rich experiences, best practices and procedures in local content development. Part of the objectives are to foster the Petroleum Commission of Ghana’s efforts…

Read More

Ohanaeze Demands Hon. Ugochinyere-Led Committee’s Probe

Aliyu Aliyu

  , As Controversies Over Committee’s Alleged Interest In Dangote Refinery, NNPCL Rift Worsens   A Pressure Group in the South East, Ohanaeze Think Tank, has called on the House of Representatives to investigate the activities of the disbanded Ugochinyere led committee investigating the NNPCL under Engr Mele Kyari. The Think Tank Group described the 15-man committee as scandalous, which must be investigated forthwith, adding that Ugochinyere and his cohorts were poised to impose their sinister agenda on the House and the Nigerian public. According to a statement signed by…

Read More

Ekpo Launches Ride Share CNG Conversion Incentive Scheme

Precious Ibekwe

. Says Tinubu’ll leave Nigeria better than he met it Amid ongoing protests fuelled by socio-economic challenges, Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo on Friday assured Nigerians that President Bola Tinubu is poised to leave Nigeria better than he met it on assumption of office. Platforms Africa reports that Ekpo stated this during his address at the launch of the Ride Share Compressed Natural Gas (CNG) Conversion Incentive Programme and PI-CNG’s My CNG App, noting that the initiative reaffirmed the Federal Government’s commitment to providing accessible…

Read More

‘Marginal Field, Others,’ SPE Highlights 47 Years’ Feats, Unveils 5 Years’ Communiques

ADEOLA YUSUF

Who-Said-What: Salahudden Tahir; Amina Danmadami; Francis Nwaochei and Felix Obike; Names and faces at a press conference to conclude the 47th NAICE in Lagos   The Society of Petroleum Engineers (SPE) has declared that many feats being enjoyed in the Nigeria’s oil industry, including the marginal field programme, were the brainchildren of its past conferences. Promising to do more during a press conference to mark the conclusion of the 47th Nigeria Annual International Conference (NAICE) organised by the Nigerian Council of the society, Chairman, Nigerian Council of the SPE, Salaudeen…

Read More

Dangote Refinery: Dangers of a Single Narrative – Sifting Facts from Emotion, By RICHARD AKINOLA

ADEOLA YUSUF

From my findings, here are three major critical issues that are affecting the operations of Dangote Refinery   When the Dangote refinery controversy blew up, naturally as someone wired to support anyone l perceive to be oppressed, this time, Dangote, l lined up in support of the richest man in Africa. I perceived he was being unduly treated by the Downstream and Midstream regulators, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). For days, l had heated arguments with people with opposing views on this matter. However, Ademola Adigun,…

Read More