Category: Oil & Gas

How 33,000 Litre-Petrol Tanker Exploded In Lagos Filling Station – Witness

Tade Salako

11 Plc probes cause of the incident as fire razed storey building, rendered many homeless There was pandemonium at Idi-Oro, in the Mushin area of Lagos State, Nigeria’s commercial capital, on Wednesday, when a tanker loaded with Premium Motor Spirit (petrol) exploded at a Mobil Filling Station in the community. The fire was said to have spread to an adjoining three-storey building, burning down the property. Eyewitnesses said the fire started around 1pm when the tanker, laden with 33,000 litres of petrol, was discharging its content at the filling station…

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Oil Firms’ Debts To Nigeria Hit N1.32trn in 2020 – NEITI

Efe Wellington

Nigeria earned $20.43 billion from the sector in 2020, a decline of 40 per cent compared to $34.22 billion realised in 2019. The Nigeria Extractive Industries Transparency Initiative (NEITI) has said that oil and gas companies liabilities to the Federation Accounts as at December 31, 2020 was N1.32 trillion. Executive Secretary of NEITI, Dr. Orji Ogbonnaya Orji, made this known on Monday in Abuja at the public presentation of reports on Oil, Gas and Mining as well as Fiscal Allocation and Statutory Disbursement. Orji, while providing highlights on the 2020…

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Nigeria, Senegal Ink MoU on Local Content Development

Efe Wellington

This is part of Nigeria’s strategic support to the development of Local Content across the African continent, which has already been extended to Ghana, Niger Republic, Uganda, Kenya, Gabon, Ugandan, and Congo Brazzaville The Nigerian Content Development and Monitoring Board (NCDMB) and the authorities of the Senegalese Petroleum Industry agreed on Tuesday to sign a Memorandum of Understanding (MoU) to guide Nigeria’s support for the development of Local Content in Senegal. This agreement was reached during a meeting in Lagos between the Executive Secretary, Engr. Simbi Kesiye Wabote and key…

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Africa Not Ready To Abandon Oil, Wrong To Blame Us For Emission ― APPO

Aliyu Aliyu

As the global climate debate gets more intense, reaffirming the reality that the energy industry must decarbonize in order to save the earth from what may eventually become an irreversible catastrophe, meaning also that the exploitation anduse of fossil fuels must be phased out or at least phased down, the African Petroleum Producers’ Organization (APPO) has insisted that the people of Africa cannot immediately abandon the use of fossil fuels for the continent’s economic development According to Dr. Omar Farouk Ibrahim, who heads the continent’s 15 Member Countries Petroleum Organization,…

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Lagos to Probe Petrol Souvenir at Party

Damilola Olonade

The attention of the Lagos State Government has been drawn to a video showing kegs of petrol being handed out as souvenirs at an event Centre in Lagos. The video has gone viral on the social media. There is no doubt that this action is dangerous and can lead to loss of lives and property. It is blatantly against all safety measures in such places. The Lagos State Government through the Safety Commission is investigating this matter and will ensure that all parties to this reprehensible action are made to…

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EXCLUSIVE: NNPC Cancels ExxonMobil $1.6bn Assets’ Sale To Seplat

ADEOLA YUSUF

State-owned oil giant opts to exercise of right of First Refusal as contained in Joint Operating Agreement (JOA) of the JV + details of NNPC position on planned sale of ExxonMobil shares to SEPLAT Energy Plc The Nigerian National Petroleum Company Ltd has notified Mobil Producing Nigeria Unlimited of its intention to exercise a Right of Pre-emption on ExxonMobil’s planned sale of its entire asset in Nigeria’s onshore and shallow waters. Recall ExxonMobil and SEPLAT Energy recently announced a Sales Agreement for SEPLAT to purchase ExxonMobil’s complete shares in MPNU,…

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BREAKING: NNPC JV, Dangote Ink Multi-million Dollars Gas Supply Deals

ADEOLA YUSUF

The deals involving the JV of NNPC, Shell, ENI, and Total will deliver 70million scuf of gas daily to Dangote Fertiliser The Joint Venture (JV) consisting of the Nigerian National Petroleum Company (NNPC) Limited, Shell, Total and ENI, has signed a multi-million dollars deal to supply 70 million standard cubic feet (scuf) of gas to Dangote Fertiliser Company. The signing which took place at the on-going Nigeria International Energy Summit (NIES) was attended by President of Dangote Group, Alhaji Aliko Dangote; Group Managing Director of NNPC, Mallam Mele Kyari; Country…

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BREAKING! Court Stops Lekoil Cayman, Savannah Energy Restructuring Deals

ADESUPO OSOSANYA

Lekoil Cayman Limited has been stopped from proceeding on the convertible facility agreement (option agreement and the tripartite) with Savannah Energy Investments Limited, a wholly owned subsidiary of Savannah PLC after it was announced February 28, 2022. Lekoil Nigeria, a statement sent to Platforms Africa read, has challenged the takeover move in a suit filed against the London-listed oil firm, Lekoil (Cayman) Limited in a Cayman Islands court. The statement added that an injuction has been given against the restructuring deals. READ ALSO:Lekoil Limited Gets Savannah Investment’s GBP.9m Loan At…

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Lekoil Limited Gets Savannah Investment’s GBP.9m Loan At 5%/Annum Interest

ADEOLA YUSUF

The CFA, repayable on Wednesday 2 March 2022, may see Savannah Investments electing to convert the outstanding amount into 177.1 million new ordinary shares of Lekoil Limited at a price of 0.5 pence per share, Platforms reports   LEKOIL, the oil and gas exploration and production company with a focus on Nigeria and West Africa, has announced that Savannah Energy Investments Limited (“Savannah Investments” or the “Investor”), has entered into a convertible facility agreement (the “CFA”) and option agreement (the “Option Agreement”) with the Company in order to support the Company’s…

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Buhari Declares $50m Clean Energy Investments, 20m Cylinders Injection

ADEOLA YUSUF

Oil minister says NLNG key partner in Nigeria’s energy transition journey, declares 5th Nigeria International Energy Summit open   Nigeria has declared investment of $50 million for clean energy initiatives including the 20 million cylinders injection scheme. Platforms Africa reports that President Muhammadu Buhari represented by the Minister of state for Petroleum Resources, Timipre Sylva, said this while declaring the 5th Nigeria International Energy Summit (N.I.E.S) open at the Banquet hall of the State House, Abuja, Nigeria’s commercial capital. READ ALSO: BREAKING: No Achievement Record, No Fund Approval – Nigeria…

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