Category: Oil & Gas

Customs Boss Queries NNPC’s ’60m Ltrs’ Daily Consumption Figure

ADEOLA YUSUF

“if the NNPC puts daily consumption of PMS at 60 million litres, why does it allow 98 million litres to be lifted daily from the depots?”   The Comptroller General of the Nigeria Customs Service, Col. Hameed Ali, has questioned the figures for the daily consumptions of Premium Motor Spirit (PMS), popularly known as petrol. According to Col. Ali, if the Nigerian National Petroleum Corporation puts daily consumption of PMS at 60 million litres, why does it allow 98 million litres to be lifted daily from the depots? He stated…

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Dangote Mulls 30,000 Youths Employment, End To Forex Crisis

Abibat Babalola

The President of Dangote Group, Aliko Dangote, has resolved to employ over 30,000 youths and significantly reduce the importation of sugar into the country by 40 per cent, thereby saving the country’s scarce foreign exchange. Dangote disclosed recently to newsmen that Dangote Group is embarking on Phase II of its Sugar project, which will then cover over 100,000ha to make the sugar plant the largest in Africa. According to him, the integrated sugar complex to be located in Tunga, Awe Local Government Area of Nasarawa State, comprises 60,000ha sugar plantation…

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Nigeria’s N4.5trn Annual Petrol Importation’ll End by 2023 – NNPC

ADEOLA YUSUF

The Nigerian National Petroleum Company (NNPC Ltd.) has said the importation of Premium Motor Spirit, otherwise known as petrol, into the country will be stopped by mid-2023. Platforms Africa reports that Nigeria spent a total of N4.56 trillion on the importation of Prwmium Motor Spirit (petrol) in 2021 about 128% higher than the N2 trillion spent on fuel importation in 2020. The Group Chief Executive Officer of NNPC Ltd., Mele Kyari, disclosed this at the State House Ministerial Briefing organised by the Presidential Communications Team in Abuja on Tuesday. A…

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Shell Hires Deepsea Bollsta For Namibia Work

Aoko Benjamin

Offshore drilling contractor Northern Ocean has secured a contract award from oil major Shell for operations in Namibia. Northern Ocean said that it won a contract award for the Deepsea Bollsta semi-submersible rig from Shell for work in a benign environment market. The contract is expected to start in the middle of the fourth quarter of 2022 and has an estimated firm duration of twelve months plus one six-month option. According to the offshore driller, the contract with Shell adds approximately $124 million of firm revenue backlog to the company,…

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NUPRC, NNPC’s Crude Oil Theft Figures Outrageous, Impractical – Navy

Aliyu Aliyu

How Chief Of Naval Staff punctured 400.000 barrels daily loss figures by oil minister, others   There is a significant miscalculation in determining how much Nigeria is losing in terms of oil theft because oil losses due to other factors are often lumped together as theft, the Chief of the Naval Staff, Vice Admiral Awwal Gambo, has disclosed. This is a puncture on the figures given by Nigerian Upstream Regulatory Commission( NUPRC) and the Nigerian National Petroleum Company (NNPC) Limited may not be correct. The Naval Chief, Vice Admiral Awwal…

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Shell Commissions Indigenous Firm for Nigeria’s Largest Domestic Gas Survey

Abibat Babalola

Nigeria’s leading domestic gas distribution company, the Shell Nigeria Gas Limited (SNG), has commissioned a far-reaching gas market survey in 33% of the states in Nigeria to gain deeper market insights for entry and to accelerate the achievement of Nigeria’s Decade of Gas objectives. Platforms Africa reports that SNG has engaged notable indigenous consulting firm, Philips Consulting Limited, for this project which has the potentials to advance Nigeria’s energy transition agenda. READ ALSO Shell, AFC, GTBank, 6 Other Banks Drag Aiteo to Court Over $2bn Debts Nigeria Eyes $500bn, Renews…

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BREAKING: Niger Delta ex-Amnesty Boss, Charles Dokubo, Is Dead

Efe Wellington

Charles Dokubo, 70, former Chairman of the Presidential Amnesty Programme (PAP), has died, two years after he was fired by President Muhammadu Buhari from his job. Details of the incident is still sketchy, but the former Amnesty boss, was born in Abonnema, Akuku Toru Local Government Area of Rivers State on the 23rd of March 1952, who was fired in August 2020, over a burning controversy in the agency, was said to have died after a brief illness on Wednesday evening. Dokubo, who had his primary and Secondary School education in Abonnema,…

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Nigeria Eyes $500bn, Renews Offshore Deals With Shell, ExxonMobil, Chevron

ADEOLA YUSUF

OMLs 128 – 138, full list of five oil mining leases (OMLs) and what the MDs of Shell, ExxonMobil, Chevron said about their Production  Sharing Contracts (PSCs) renewals    The Nigerian National Petroleum Company (NNPC) has executed fully termed agreements for the renegotiated Production Sharing Contracts with contractors in five Oil Mining leases, Platforms Africa reports. This, which came only one month after it had transited into a fully limuted liability company, is, according to the Nigerian government, a step towards unlocking over $500 billion in revenue from its oil…

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NCDMB Donates Multi-Million Naira Vocational Centre to University of Ibadan

ADEOLA YUSUF

Wabote Harps on Technical Education, describes completion, handing over of facility as an important milestone in Nigerian content development   The Nigerian Content Development and Monitoring Board (NCDMB) on Friday handed over the University of Ibadan Vocational School which it constructed in line with its capacity-building mandate and the Nigerian Content 10-year strategic roadmap. Handing over the facility to the Vice Chancellor of the university, Prof Kayode Adebowale, the Executive Secretary of NCDMB, Engr. Simbi Kesiye Wabote described the completion and handing over of the facility as an important milestone…

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U-TURN: Buhari Awards Tompolo Multi-Billion Pipeline Protection Contracts

Efe Wellington

Buhari who stopped a similar contract initiated by his predecessor, Goodluck Jonathan, reverses self as Nigeria’s loss to crude theft surpasses $40 million every 24 hours   Nigeria’s President Muhammadu Buhari has awarded the former militant leader and Commander of the defunct Movement for Emancipation of Niger Delta (MEND), Government Ekpemupolo, better known as Tompolo, a pipeline surveillance contract. Platforms Africa reports that this came as the Nigeria’s losses to oil theft surpasses $40 milliin every 24 hours. Buhari who stopped a similar contract initiated by his predecessor, Goodluck Jonathan,…

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