Category: Oil & Gas

How We Recovered 9 Bodies From Kano Gas Explosion Scene – NEMA

Abibat Babalola

Nigerian Air Force, NAF, has postponed its 58th anniversary celebration billed to commence in Kano as a result of the explosion   Although initial report said the explosion took place in a primary school in the area, Kano State government said the explosion, which affected buildings around the area, including a primary school, was from an animal food shop opposite the school, along Aba road. The National Emergency Management Agency, NEMA, which also corroborated police account that the explosion was caused by a gas explosion, said its personnel recovered nine…

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TotalEnergies Puts Up 16 Nigeria’s Oil Assets, Pipeline’s Stakes For Sale

ADEOLA YUSUF

Appoints Canada’s Scotiabank financial adviser for sale of assets including its 10 per cent stake in Nigerian joint venture with SPDC and NNPC French energy major, TotalEnergies has launched the sale of its 10 per cent stake in Nigerian joint venture Shell Petroleum Development Company, SPDC, with Canada’s Scotiabank leading the sale as financial adviser, a sale document tendering for interest showed. Though Scotiabank declined to comment on the exercise TotalEnergies earlier announced the sale in late April. READ ALSO: Shell Targets $3bn, Places More Assets For Sale Onshore Nigeria Chevron…

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UPDATED: Kano Explosion Kills 4, Injures Scores

Aliyu Aliyu

Police say incident gas explosion not bomb explosion   At least four people have been confirmed dead in a gas explosion that rocked Kano on Tuesday morning. Platforms Africa reports that many residents including students of Winners Schools were injured in the explosion that rocked the Sabongari area of Kano State. The police command in Kano State has confirmed the killing of four persons in the gas explosion. READ ALSO: 33,000-litre Petrol Tanker explodes in Delta School Pupils Feared Killed As Explosion Rocks Kano Abuja Female Corps Member Bathed with…

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EU Gives Member-States, Firms Go-Ahead to Buy Gas From Russia

ADEOLA YUSUF

Moscow insists on Rubles not Dollars or Euro for gas deals while shelling of ukraine continues   The European Union said companies can keep buying gas without breaching sanctions, as it softened its stance in a standoff with Moscow over energy supplies. The European Commission sent its revised guidelines to member states on Friday, a spokesperson said on Monday. In the updated recommendations, it said companies should make a clear statement that they consider their obligations fulfilled once they pay in euros or dollars. READ ALSO: Interfere In Ukraine War,…

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High Crude Oil Prices Not Adding Value To Nigeria’s Economy -World Bank

Abibat Babalola

Nigeria was yet to benefit from increasing oil prices as a result of declining oil production and fuel subsidy,the World Bank has said. It also said the country’s oil production declined in 2021 due to a lack of maintenance and the loss of infrastructure efficiency. The  bank disclosed these  in a new report titled ‘Migration and Development Brief titled ‘A War in a Pandemic: Implications of the Ukraine crisis and COVID-19 on the global governance of migration and remittance flows. READ ALSO BREAKING: Crude Oil Price Hits $85 per barrel, 3-Year…

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Oil Minister, Timipre Sylva, Withdraws From APC Presidential Primaries

ADEOLA YUSUF

Sylva said he withdrew from the race to support President Muhammadu Buhari in his quest to achieve a robust oil sector, an official of the ministrt said Another presidential aspirant on the platform of All Progressives Congress (APC) and Minister of State for Petroleum, Chief Timipre Sylva, has withdrawn from the presidential race. Platforms Africa reports that Sylva has returned to work today, the last day given by President Muhammadu Buhari to all political appointees aspiring for elective political office to quit his cabinet and pursue their ambition. Recall that…

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N500bn Or Fuel Scarcity, IPMAN Threatens Supply Upset Over Bridging Claims

Ganiyu Amodu

Prepare for worst fuel scarcity ever or prevail on downstream regulator, NMDPRA, to pay us N500 billion incurred on bridging, oil marketers declare   The Independent Petroleum Marketers Association of Nigeria (IPMAN) has warned of the possibility of the worst case of fuel scarcity ever in the country. Platforms Africa reports that IPMAN, which said this, however added that the scarcity can be averted only if the Federal Government prevailed on the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to pay N500 billion bridging claims by its members. READ…

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Not Again, Arik Air, Dana Air, Aero Dump Strike Plan

Abibat Babalola

“We support the efforts by the AON to address the fuel price hike but our passengers would be served, our flight operations won’t stop.”   Three more airlines have joined Ibom Air on the list of airlines that have pulled out of the planned shutdown of flight services  as announced by the Airline Operators of Nigeria (AON). Platforms Africa reports that on Friday, the AON had announced its decision to suspend flight operations from Monday. Ibom Airlines Limited (Ibom Air), on Saturday, became the first airline to counter the AON’s proposed…

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Nigeria Ups Oil Reserves To 37bn barrels, Begins Crude Theft Audit

ADEOLA YUSUF

Here are the details of Country’s new position on mandatory conduct of gas well deliverability tests, gas flaring, below conventional oil window drilling, new automated model for IOCs local and foreign royalty payments; unique identifier for oil cargoes, among others   Nigeria’s total national oil reserves have surged to 37.046 billion barrels. Platforms Africa reports that the data obtained from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), which contained this new reserves figure attained as at January 2022, added that the country has also begun a forensic audit of crude…

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