Category: Oil & Gas

BREAKING: Petrol Tanker Tumbles In Lagos Otedola Bridge Multiple Car Crash

ADEOLA YUSUF

How tanker overturned caused collision of multiple vehicles on notorious Otedola bridge, Lagos Emergency Management boss explains, as fear rocks Nigeria’s commervial capital over accident   A 45,000 Litre capacity petrol tanker has tumbled in a multiple vehicles’ accident on the Lagos notorious Otedola Bridge, Platforms Africa reports. The Permanent Secretary of the Lagos State Emergency Management Authority (LASEMA), DR OLUFEMI DAMILOLA OKE-OSANYINTOLU, who confirmed the accident in a statement obtained by Platforms Africa on Friday morning, allayed apprehension that has immediately greeted the accident across Lagos. The statement reads;…

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Sierra Leone Begins 5th Offshore Licensing Round

Aoko Benjamin

Ukraine war has sens oil and gas prices skyrocketing to their highest levels in almost 10 years   Sierra Leone has launched its 5th offshore licensing round that is anticipated to receive some interesting offers for acquisition of oil blocs, government officials are saying. The announcement was made at the recent African Global Energy Summit in London, and has ‘generated a lot of buzz’ in the sector around the world, according to the officials. This is coming at a time when countries around the world are looking at new ways…

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Saudi Arabia Rakes In $1Billion From Oil Exports Every Day

ADEOLA YUSUF

Crude production by the Kingdom rose to 10.3 million barrels a day in March, with Brent oil prices averaging $112 a barrel   Saudi Arabia’s oil exports reached $30 billion in March, the highest in at least six years, driven by a rally in oil prices and rising production. The value of crude exports, now almost $1 billion a day, increased by 123% year on year, the kingdom’s statistics office said. READ ALSO: EXCLUSIVE: Buhari Declines Ministerial Consent For ExxonMobil $1.6bn Assets’ Sale To Seplat Oil Theft: Fact And Figures…

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Nigeria, Others Need $15.7bn to Upgrade Existing Refineries – Refiners Group

Ayobami Adedinni

The African Refiners and Distributors Association (ARDA) has said Nigeria and other African countries would need at least $15.7 billion to upgrade existing refineries in their bid to reduce sulphur content. Speaking at the second Refining and Specifications Virtual Workshop organised by the ARDA, the association noted that the upgrade was necessary to ensure that Africa embraces cleaner sources of fuels. The Executive Secretary of ARDA, Anibor Kragha, noted that adoption of harmonised specification would halt importation of fuels not meeting the AFRI specs into Africa. READ ALSO: Caleb Varsity…

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How Oil Firms in Nigeria Suffered N2.2tn Revenue Deficits In 1 Year

ADEOLA YUSUF

SNEPCo 17.8mn/b, Chevron 12.2mn/b, Agip 11.1mn/b, SPDC with 15.1%, Addax 2.3mn/b, Seplat 7.4m/b, Aiteo 470t/b. Full list of 16 oil firms and whooping volume of crude oil loss they recorded in 2020   International Oil Companies (IOCs) and their local counterparts operating in the Nigeria’s multi-billion dollars oil industry lost a whopping N2.1 trillion as a result of crude oil production deferment in one year. Platforms Africa, which reported this quoted the 2021 statistics from the Nigeria Extractive Industries Transparency Initiative (NEITI). NEITI data showed that the huge loss was…

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ExxonMobil Rescinds Sack of Nigerian Staff, Ernest Omo-Ojo, After 3 Years

ADEOLA YUSUF

The banters. The battle. The backslide. Platforms Africa reports how, after Court confrontations, the Nigerian oil minister Timipre Sylva’s Mediation led to the withdrawal of the sack letter issued to Omo-Ojo,  ex-staff at the Media and Communications unit of the United States (U.S) oil giant, in June 2019   After three years search for justice, reprieve finally came the way of Ernest Ivie Omo-Ojo, a Nigerian ex-worker with United States oil super major, ExxonMobil, Platforms Africa reports. This reputable media group had, in an exclusive story published  on August 14,…

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Corporate Takeovers: Contextualising the Savannah Move on Lekoil, By Tope Ajayi

Tope Ajayi

Business is war! That is the thrust of what people learn in business school, and from the preponderance of available literature on business and strategy. Business owners, boardroom tacticians, and corporate raiders pursue business interests just like battle-tested generals at the war front, who must deploy all the arsenal at their disposal to win. The stories of hostile business takeovers around the world are too numerous to list. There are a number of very famous case studies on hostile takeovers, including those involving Kraft Foods Inc. and Cadbury Plc, InBev…

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EXCLUSIVE: Buhari Declines Ministerial Consent For ExxonMobil $1.6bn Assets’ Sale To Seplat

ADEOLA YUSUF

. NUPRC Confirms Platforms Africa Exclusive, writes ExxonMobil to veto deals + word-for-word content of the letter . Real reason Buhari declined Ministerial Consent, ordered all parties in the transaction to revert status quo . The NNPC right of first refusal that made the deal to hit the rock . How Platforms Africa broke news in a world-class exclusive over two months ago   Nigeria’s President Muhammadu Buhari has declined Ministerial consent for ExxonMobil’s $1.6bn assets’ sale to Seplat, Platforms Africa reports authoritatively. Buhari, the substantive minister of Petroleum Resources,…

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How N47bn Racket Landed NDDC Ex-MD, Nsima Ekere, In EFCC Net

Ayobami Adedinni

Patricia Etteh, Nsima Ekere; how forensic audit of the NDDC is making heads to roll, more arrests imminent A former Managing Director of the Niger Delta Development Commission (NDDC) Nsima Ekere was grilled by the operatives of the Economic and Financial Crimes Commission (EFCC) over alleged link with the diversion of funds to the tune of N47 billion. Platforms Africa reports that the EFCC’s Head of Media and Publicity, Wilson Uwujaren, who made this disclosure to journalists on Wednesday, gave details of how the alleged N47 billion racket landed Ekere…

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