Category: Oil & Gas

Nedogas, NCDMB commissions 300 MMscfd Kwale Gas Gathering Facility

ADEOLA YUSUF

Nedogas Development Company Limited (NDCL), a joint venture company between Xenergi Limited and NCDMB Capacity Development Intervention Company, has, in collaborative partnership with the Nigerian Gas Company Limited (NGC), a subsidiary of the Nigerian National Petroleum Company (NNPC), successfully completed the construction and technical commissioning of a 300 MMscfd Capacity Kwale Gas Gathering (KGG) and injection Facility located in the Umusam Community, near Kwale in Delta State, Niger-Delta, Nigeria. The KGG Facility was designed to handle stranded gas resources in Nigeria’s OML56 oil province by providing the opportunity for independent…

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Petrol to Hit N190/L As Depot Owners Hike Price by N20/L

Dawood Rabiu

We are not aware, report them first, Industry Regulator, NMDPRA, says as IPMAN Speaks Out on alleged profiteering, sabotage by private depot owners   The cost of Premium Motor Spirit, popularly called petrol, may hit N190/litre in most filling stations in coming weeks if nothing is done about a recent hike in its ex-depot price by private depot owners. A report by Punch showed that most private depot owners recently raised the cost of petrol by N20 per litre from the approved N142-N145/litre price to between N162-N170/litre. This, oil marketers…

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Nigerian Content Retains $8bn Annually, Creates 50,000 Jobs

ADEOLA YUSUF

The implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act has created over 50,000 direct jobs in the local economy over the past 11 years, the Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote has said. Platforms Africa reports that Wabote stated this in Lagos during separate breakfast meetings he held with members of the Guild of Corporate Online Publishers on Thursday and editors of newspapers and broadcast stations on Friday respectively. He hinted that the level of Nigerian content in the…

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The Untold Story Of The Aiteo Santa Barbara Oil Spill

Bisi Daniels

The Untold Story Of The Aiteo Santa Barbara Oil Spill, By Bisi Daniels The recent spill at Santa Barbara 1 well in Nembe, Bayelsa State, made the news so loud that it drowned some salient points and diverted attention from bigger stories elsewhere in the creeks. Aiteo Eastern Exploration and Production Company, operators of the well, must have been under intense pressure going by the number of highly placed Bayelsa indigenes in the oil and gas industry. They include the Minister of State for Petroleum Resources, Timipre Sylvia, who visited…

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NNPC, MOMAN, DAPMAN Team Up Against Fuel Queues

ADEOLA YUSUF

The Major Oil Marketers Association of Nigeria (MOMAN) has assured the Nigerian public that its members are working with the regulatory Authorities and the Nigerian National Petroleum Company Limited (NNPC) towards a resolution of the current fuel crisis. Platforms Africa reports that a statement signed by MOMAN Chairman, Olumide Adeosun, stated that MOMAN subject-matter experts are active contributors to the technical and commercial committees set up by the regulatory Authorities to re-stock fuel supplies, resolve the blending of contaminated products and identify losses suffered by customers, operators and third parties.…

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Why, How Test Did Not Discover Off-Spec Petrol At Nigerian Depots – NNPC

ADEOLA YUSUF

Kyari Assures Fuel Queues’ll Vanish in Few Days as House C’ttee Vows To Handle Erring PMS Suppliers   The Nigerian National Petroleum Company Limited (NNPC) has given reason the off-spec Premium Motor Spirit (PMS), also known as petrol, was not discovered through test at the depots. Platforms Africa reports that the Chief Executive Officer (CEO) of the NNPC, Mallam Mele Kyari, who said this during a meeting with the members of the House Committee on Petroleum (Downstream), maintained that the “reason why tests did not reveal methanol presence was because…

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Oil Price Charges at $100 Per Barrel, Rallies At 8-Year High

Efe Wellington

Oil prices rallied more than 2% on Wednesday, resuming its upward path as investors weighed conflicting statements on the possible withdrawal of some Russian troops from around Ukraine. On Monday, both benchmarks hit their highest since September 2014, with Brent touching $96.78 and WTI reaching $95.82. Russia’s threatening posture has dominated oil markets for several weeks, with concerns that supply disruptions from the major producer in a tight global market could push oil prices to $100-a-barrel. “The market remains extremely tight and prices had been on an upward trajectory prior…

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We Need N2.557trn For Fuel Subsidy in 6 Months, Buhari writes Senate

Aliyu Aliyu

President Muhammadu Buhari has written the Senate, seeking approval of a supplementary budget of N2.557trn to cover subsidy on petroleum products from June to December 2022. Platforms Africa reports that President Buhari’s letter was read on Tuesday during plenary by the President of the Senate, Senator Ahmad Lawan. The amount approved for subsidy on Petroleum products from January to June was N443 billion and with the present request, the total amount stands at N3 trillion. Indications that the President would submit the supplementary budget emerged on Tuesday, January 25, when…

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Petrol Sells for N250 per litre As Scarcity bites Harder

ADEOLA YUSUF

. Succor Underway as 300 million litre petrol-laden Vessels commence product’s discharging in Lagos . Black marketers record business booms while filling stations ‘run out of fuel”   Two vessels laden with 300 million litres of Premium Motor Spirit (PMS), known as petrol, which arrived at Lagos ports, have started to discharge the product, Platforms Africa reports, just as hardship caused by off-spec product supply bite harder. The vessels, Platforms Africa gathered, arrived on Tuesday at ASPM jetty Ijora and Wednesday at Pinnacle jetty, Apapa, area of Lagos, Nigeria’s commercial capital.…

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‘Brittania-U, A Member of Our Consortium, Imported Off-Spec Petrol’ — Emadeb-led Group

ADEOLA YUSUF

A consortium led by Emadeb Energy Services Limited has said that its member, Brittania-U, is responsible for the recent importation of off-spec petrol in the country. The Nigerian National Petroleum Company (NNPC) had named the consortium among the suppliers that brought in methanol-blended petrol from Belgium. The consortium comprises four companies namely Emadeb, Hyde, Ay Maikifi and Brittania-U. However, in a statement on Thursday, three members of the consortium (Emadeb/Hyde/Ay Maikifi) said the importation was done solely by its fourth member — Brittania-U. The companies said they needed to provide…

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