Category: Oil & Gas

Petrol Landing Cost Soars To N1,117 /Liter

Ganiyu Amodu

‘Diesel landing cost is N1,157 per liter, Aviation Turbine Kerosene (ATK) N1,217 per liter;” Major marketers speak on new price, promise to publish daily cost survey   The Major Energy Marketers Association of Nigeria (MEMAN) has estimated the current landing cost for Premium Motor Spirit (PMS), also known as petrol at N1,117 per liter. Platforms Africa reports that petrol is sold for between N580 per liter to N800 per liter at the filling stations depending on the location, indicating a surge in subsidy payment by the government. Petrol Subsidy: Nigerian…

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‘3.2 Bn Barrels In A Swoop,’ Massive Oil Discovered Offshore Kuwait

Ganiyu Amodu

One of the Middle East’s largest oil producers, Kuwait, announced on Sunday a “huge” discovery of oil and associated gas in an offshore field east of Failaka Island. Preliminary estimates have shown that reserves at the Al-Noukhitha offshore field could be about 3.2 billion barrels of oil equivalent of light oil and gas, Kuwait Petroleum Corporation said during a meeting with the Emir of Kuwait, Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah. Reserves could be 2.1 billion barrels of light oil and 5.1 trillion standard cubic feet of gas, all of which…

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‘20% To 7.2%,’ NNPC Reacts As Dangote Says Firm’s Stake in His Refinery Depleted

ADEOLA YUSUF

“We made a commercial decision to cap our investment at the amount already paid.” Word-for-word of what NNPCL spokesman, Olufemi Soneye, said on the claim by Dangote   Africa’s richest man, Aliko Dangote, says the Nigerian National Petroleum Company (NNPC) Limited no longer owns 20 percent stake in Dangote Petroleum Refinery, a statement that has drawn a reaction from the state oil firm. Speaking during a press briefing at the refinery on Sunday, Dangote said NNPC now owns 7.2 percent of the refinery over failure to pay the balance of…

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NCDMB’s Obinna Ezeobi Bags PhD in Communications

ADEOLA YUSUF

How thesis by the NCDMB’s deputy manager titled; “Nigerian Oil and Gas Content Communication Campaigns and Selected Oil Companies’ Awareness and Compliance,” earned him the highest academic degree at the University of Port Harcourt, Rivers State   One of the founding staff of the Nigerian Content Development and Monitoring Board (NCDMB), Mr. Obinna Joseph Ezeobi, on Friday, successfully defended his thesis that earned him a Doctorate Degree in Communication Studies at the University of Port Harcourt, Rivers State. At the external examination conducted by renowned academics, Ezeobi, Deputy Manager at the…

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Submit Cargo Price Quotes Monthly, NUPRC Orders Oil Producers, Refiners

ADEOLA YUSUF

‘Weeks after Dangote Refinery alleged sabotage by IOCs to starve it of crude stock;’ Here are the details of the crucial meeting where upstream oil sector’s regulator and producers agreed on sustainable crude supply to local refiners   About five weeks after Dangote Refinery alleged sabotage by International Oil Companies (IOCs) to starve it of crude stock, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has directed producers and refiners to provide tje commission with cargo price quotes on crude supply and delivery for effective monitoring and regulation of transactions among…

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NLNG: 35 Years of Nigeria’s Gas Success Story

ADEOLA YUSUF

As Nigeria flagged various initiatives for gas commercialisation and utilisation, ADEOLA YUSUF digs deep on the critical role the Nigerian Liquified Natural Gas (NLNG) has played in moving the country forward in the last 35 years of the company’s existence.   So many key interventions initiatives and private sector partnerships in the recent times have given a major boost to Nigeria’s gas commercialisation and utilization efforts. However, according to the Natural Resource Government Institute, NRGI, meeting Nigeria’s domestic energy needs remains one of the most significant barriers to sustainable development…

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NNPC Plans 3 LNG Stations, 100 CNG Sites Nationwide

ADEOLA YUSUF

The Nigerian National Petroleum Company (NNPC Ltd.), says the drive to bring Compressed Natural Gas (CNG) closer to Nigerians has commenced and is irreversible. Malam Mele Kyari, Group Chief Executive Officer, NNPC Ltd, said in addition to the massive deployment of CNG stations nationwide, the company and its partners would also build three Liquefied Natural Gas (LNG) stations in Ajaokuta. Kyari said this on Thursday during the simultaneous commissioning of 12 CNG stations in Abuja and Lagos by Mr Ekperikpe Ekpo, Minister of State Petroleum Resources (Gas). “There is simply…

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NAOC-Oando Deals, Equinor – Project Odinmim Divestments Completed – NUPRC

ADEOLA YUSUF

. Oil Industry Upstream Regulator gives latest information on $2.4Bn Shell- Renaissance, $1.2Bn ExxonMobil-Seplat deals to stakeholders at NOG Energy Week   The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the completion of oil assets sale between NAOC and Oando, and Equinor – Project Odinmim divestments. Platforms Africa reports that the helmsman for the commission, Gbenga Komolafe, who declared this at the on-going NOG Energy Week in Abuja, maintained that the signing ceremonies for the two deals would come up any moment. ‘Weed Them Out,’ PETAN Exposes Antics of…

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WEOG Deepens Decarbonisation Engagement, Mulls 10 Million Trees Planting

Aliyu Aliyu

. declares September 3 as ‘World Decarbonization Day’ Women In Energy Oil and Gas (WEOG) officially announced September 3 as World Decarbonisation Day. As part of the Decarbonization Initiative, WEOG plans to plant over 10 million special trees that have higher rates of carbon absorption. Oladunni Owo, National President of WEOG in Nigeria and CEO of Blackgold Energy Authorities made the declaration during the Decarbonization Initiative Press Conference on Tuesday in Abuja. READ ALSO: ‘Weed Them Out,’ PETAN Exposes Antics of Oil Sector’s ‘Middlemen Businesses’ WEOG is a forum created…

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‘Weed Them Out,’ PETAN Exposes Antics of Oil Sector’s ‘Middlemen Businesses’

Aliyu Aliyu

. ‘How they (‘middlemen businesses’) cast shadow on the competencies and integrity of Nigerian oil and gas operators,’ PETAN’s Wole Ogunsanya talks on deepening ties with NCDMB, NUPRC   Petroleum Technology Association of Nigeria (PETAN) has reaffirmed its commitment to Support the federal government’’s effort to weed out ‘Middlemen Businesses’ ,as it advocates for local content in the nation’s oil production. Platforms Africa reports that PETAN Chairman and CEO, Geoplex Drillteq Limited , Engr. Wole Ogunsanya, made the statement while speaking during a panel session where he was one of…

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