Category: Oil & Gas

NIPCO, NGML, LFZDC Ink Multi-Million Dollars Gas Deals

Tade Salako

Nigerian Government gas utilisation policy has received a boost as the NIPCO Gas Limited (Consortium) signed a tripartite agreement with the NNPC Gas Marketing Limited (NGML) and Lekki Free Zone Development Company (LFZDC) to build pipeline infrastructure and supply gas to industries in the Lekki area of Lagos. Platforms Africa reports that the gas pipeline, which is expected to be completed in the next six months, is planned to supply gas to industries in and around the Lekki Free Zone and feed a 24 Mega Watts (MW) power plant in…

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Nigeria Sinks To Number 4, Dethroned by Angola, Algeria, Libya As Africa’s Top Oil Producer

Abibat Babalola

  . Platforms Africa Forum Reviews Legislation Threat To FID, Ease of Doing Business   Nigeria has lost the top spot as Africa’s number one oil producer. Team Lead of Platforms Africa, Adeola Yusuf, who said this on the sideline of the Continental Forum In Lagos, added that the country has, through production statistics for the month of October, sank from number one to number four biggest producer after Angola, Algeria and Libya. “While in October, Algeria produced 1.060 million barrels per day, Angola produced 1.051 million bpd, Libya’s output…

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NLNG Begins Varsity Teaching Hospital Projects’ Commissioning In 12 States

Efe Wellington

Nigeria LNG (NLNG) Limited Friday,commenced the commissioning of Phase 1 projects in its multi-billion-naira Hospital Support Programme (NLNG HSP) with the opening of a maternity centre at the University of Abuja Teaching Hospital (UATH), Gwagwalada. It will also commission new Intensive Care Units (ICUs) at the University of Benin Teaching Hospital (UBTH) and the Niger Delta University Teaching Hospital (NDUTH) in 2022 as part of the first phase of its HSP program. Six hospitals were selected in the first phase. The NLNG HSP targets 12 hospitals from the six geographical…

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A Review of Africa’s Fuel Market, By DAPPMAN Chairman

Mrs. Winifred Akpani

Here is the full address by Mrs. Winifred Akpani, Chairman, Depots and Petroleum Products Marketers Association of Nigeria (DAPPMAN) on how downstream oil subsector is faring in Africa     TOWARDS A SUSTAINABLE DOWNSTREAM SECTOR FUELED BY A LEVEL-PLAYING FIELD AND SEAMLESS COLLABORATION Being address by Mrs. Winifred Akpani, Chairman, Depots and Petroleum Products Marketers Association of Nigeria (DAPPMAN) at the DAPPMAN Secretariat in Lagos, on November 8, 2022 Over the last year, the African Downstream sector has gone through significant changes. Just as the recoveries from the Covid-19 pandemic…

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Enemies Of Nigerian Oil Sector Reforms Want To Kill Me – Kyari

Aliyu Aliyu

NNPCL boss paints pictures of how his life is under threat, opens up on why smuggling and round-tripping of petrol from Nigeria will never stop   The Chief Executive Officer of the NNPC Limited, Mele Kyari has said that his life is under threat on account of changes in the country’s oil sector. He spoke in Abuja on Wednesday at the Legislative Transparency and Accountability Summit organised by the House of Representatives Anti-Corruption Committee,where he also said those opposed to changes in the sector have resorted to threats in a…

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Naira Sinks To N860/Dollar, Alters Petrol Depot Dynamics

ADEOLA YUSUF

DAPPMAN seeks official forex access, assures Nigerians of Fuel crisis-free Yuletide   The acute shortage of foreign exchange (forex) in the official market has pushed naira to N860 against a Dollar at the parallel market, altering dynamics for the importation, distribution and marketing of Premium Motor Spirit (PMS) also known as petrol. Platforms Africa reports that the Chairman, Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), Dame Winifred Akpani, who disclosed this during a press briefing by its Governing Council in Lagos, called on the government to give petroleum…

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Flood: Oando, Agip, NPDC Donate Relief Materials to 260 Communities

Ganiyu Amodu

On Monday, the NAOC Joint Venture (JV) made up of Oando PLC, Agip and the Nigerian Petroleum Development Company Ltd (NPDC), delivered food and essential commodities to 260 communities affected by flood in Rivers Bayelsa, Delta and Imo states. As a way of assisting the victims, Oando and its JV partners delivered food and essential goods such as beds and non-perishable food items, including bags of 50kg rice, bags of 100kg garri, cartons of tomatoes, vegetable oil, beverage drinks, milk and noodles as well as mattresses, blankets and mosquito nets.…

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OPEC Oil Output Hits 929.38m Barrels In October

Ganiyu Amodu

The Organization of Petroleum Exporting Countries, OPEC’s crude production held steady in October after the group pledged a symbolic cutback to stabilize market sentiment. The Organization increased daily output by 30,000 barrels to 29.98 million barrels in October, according to a Bloomberg survey. It had agreed to make a token reduction of 100,000 barrels a day rescinding an increase made the previous month. With so many members already lagging behind their targets few needed to do any actual cutting, and overall output was well below the group’s target even after…

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Conoil Pays N1.73bn Dividends, Posts 13.7% Profit Surge

Scott Matthew

Shareholders of nation’s total energy provider Conoil Plc, at the weekend, reportedly approved the proposed final dividend payout of N1.734 billion, which translates to N2.50 per share, for the 2021 financial year. The dividend payment ratified at the company’s 52nd Annual General Meeting held in Lagos, according to a statement from the company, “represents an increase of 66.7 percent over the approved dividend payment of N1.04 billion in the 2020 financial year.” Conoil had assured the shareholders of its commitment to continue to deliver strong and sustainable performance that would…

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TotalEnergies Hits 500 MW Of Onsite B2B Solar Generation

Abibat Babalola

French energy major TotalEnergies has reached the milestone of 500 MW of onsite B2B solar distributed generation in operation. The company said that more than 300 sites of its industrial and commercial customers have been equipped with solar panels in Asia, the Middle East, Europe, and the United States. TotalEnergies has reached the milestone of 500 MW of onsite B2B solar distributed generation in operation. TotalEnergies sells to its B2B customers green electricity produced directly on their sites through long-term onsite Power Purchase Agreements. It develops, finances, builds, and operates…

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