Category: Oil & Gas

Savannah Energy Begins First Gas Sales To Central Horizon Gas Company

ADEOLA YUSUF

Savannah Energy Plc, has commenced gas sales to Central Horizon Gas Company Limited (“CHGC”), a subsidiary of Axxela Limited (“Axxela”), and a major gas distribution company situated in the South-South region of Nigeria. On February 2022, Savannah signed an interruptible gas sales agreement (“GSA”) with CHGC to supply up to 5 MMscfpd daily for an initial one-year period. CHGC operates a 17km gas pipeline infrastructure network with a throughput capacity of 50 MMscfpd, which provides natural gas to industrial and commercial customers in the Trans Amadi Industrial Area of Port…

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Major Marketers Open Up on Real Cause of Fuel Scarcity

ADEOLA YUSUF

MOMAN expresses fears over end to crisis, insists current supply framework cannot guarantee steady, consistent supplies to the country   The Major Oil Marketers Association of Nigeria on Wednesday opened up on the real cause the fuel scarcity rocking Nigeria just as it empathized with its customers as they continued to grapple with recurrent scarcity of Premium Motor Spirit (petrol) in various parts of the Country. Platforms Africa reports that Chairman of MOMAN, Olumide Adeosun, and the CEO/Executive Secretary of the group, Clement Isong, stated during a virtual press conference…

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Prepare For N19bn Loss in Oil Revenues By Dec., W’Bank To Govs

ADEOLA YUSUF

The World Bank has said that Nigerian states will likely lose N18.8bn in oil and gas revenues in 2022, as worsening revenue collection at the federation level increases budgetary pressures for the states. The Washington-based bank said this in its Nigeria Development Update report, titled, ‘The Continuing Urgency of Business Unusual’. According to the lending bank, the declining revenue from the federation level had put many states in a precarious fiscal position. The bank warned that many states would be unable to meet up with their expenditures, adding that there…

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OML 21: Nivafer Delivers HP Skid For Shell Asa North Gas Project

ADEOLA YUSUF

Nigeria matching forward in local content development, NCDMB boss, Simbi wabote, pours eulogies on Nivafer over unveiling, load out of in-country fabricated High Pressure fuel gas skid for Shell Asa North gas project   Nivafer Engineering and Construction Limited on Wednesday delivered an in-country fabricated High Pressure Fuel Gas Skid for Asa North gas project, one of the largest greenfield gas condensate development projects being undertaken in Nigeria. The skid, which was unveiled, loaded out and delivered to Shell Petroleum Development Company (SDPC) at the Nivafer fabrication yard in Lagos,…

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Shell, Host Community Bicker Over S’Court Verdict On Asset Sale

ADEOLA YUSUF

“Supreme Court says there should be no bids, no sales until the hearing of the applications which has been fixed for November 3, 2022.” – Host Community “The Supreme Court ruling on 16 June was with respect to the contempt proceedings and not related to (the) onshore portfolio review.”- Shell spokesman   Royal Dutch Shell and 88 host communities in Nigeria have bickered over Supreme Court’s latest injuction. While lawyer to the communities said that the apex Court  has, through the injuction, upheld a lower court ruling that stopped Shell…

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JUST IN: N180/Litre Or Nothing, Petrol Marketers Declare As Queues Worsen

ADEOLA YUSUF

“With the current price, there is no way we can sell less than N180 per litre,” IPMAN   Marketers of petroleum products in Nigeria on Monday pushed for N180 per litre as queues for Premium Motor Spirit (PMS) also known as petrol worsened in Lagos and Ogun. Platforms Africa, which earlier broke the story of queues for fuel at filling stations in parts of Lagos and Ogun, reports that the situation has been worsened with scarcity spreading to more stations. Rising under the auspices of Independent Petroleum Marketers Association of…

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Cooking Gas Price Skyrockets To N12,000 Per 12.5Kg

ADEOLA YUSUF

+ Real reason there is no end in sight to price surge yet The cost of cooking gas, also known as Liquefied Petroleum Gas (LPG) has drastically increased across the country. This has, according to checks by Platforms Africa, been blamed on Russian- Ukrainian war that has caused a lot of disruption to the supply chain of the product. The Nigeria LNG which has been very active in the production and supply of the commodity cannot produce all that is needed domestically. The larger chunk of  the  LPG needed in the…

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NCDMB Begins $40m Women Fund’s Disbursement

ADEOLA YUSUF

“15 applications have been received and three have been approved and the disbursement of funds would soon start.” The Nigerian Content Development and Monitoring Board (NCDMB) has announced plans to set a minimum percentage of females that must be included in any human capacity development (HCD) programme or initiative that it will approve for the Nigerian Oil and Gas Industry. The Executive Secretary of NCDMB, Engr. Simbi Kesiye Wabote, stated this on Tuesday at the 2nd Nigerian Women in Oil and Gas Conference. He said the Board would work on…

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BREAKING: Fuel Queues Resurface In Lagos, Ogun

ADEOLA YUSUF

“There is no fuel. This is beside the fact that we have not had light for the past three days”   Fuel queues have surfaced in parts of Lagos, Nigeria’s commercial capital, and its neighbouring Ogun state, leaving passengers stranded across the state. A survey by Platforms Africa on Monday indicated that many filling stations have run out of stock while the few selling have long queues. The same situation was observed in Abeokuta, Ogun state capital, Ota, and other parts of the state. READ ALSO: BREAKING: Buhari Hikes Fuel…

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New Jersey Court Orders Arbitration in Akinyanmi Vs Lekoil Cayman Suit

ADEOLA YUSUF

The New Jersey court hearing the application challenging the hostile ouster of Lekan Akinyanmi as the Chief Executive Officer of Lekoil Cayman Limited, on June 14, 2022, ordered a stay of all proceedings in the matter pending the arbitration the court has ordered. Akinyanmi, Chief Executive Officer of Lekoil Nigeria Limited, filed an action in the Superior Court of New Jersey on September 24, 2021, with case number MER-L-001733-21, claiming breach of contract in the termination of his employment contract through a process fraught with irregularities and for which he…

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