NNPC evacuates harmful substances from refineries
The corporation, which disclosed this in commemoration of the World Environment Day, said the feat is first of its kind in the world, thereby positioning Nigeria and the NNPC on the global environmentally friendly map, adding that other countries where such evacuations were carried out recorded several incidences.
Eunisell advances spill prevention technology on marginal fields
IN a bid to further strengthen its track record in health, safety and environment, Eunisell Solutions has introduced a secondary tank containment system on its production facilities to further minimize oil spill in the country. According to the Chief Executive Officer, Dickson Okotie, this is in line with the company’s commitment to the health and…
NLNG convenes national conference on contracting, procurement
A NATIONAL conference of Contracts & Procurement General Managers in private sector and Directors of Procurement in public sector is being convened by Nigeria LNG Limited (NLNG) to hold on June, 8, 2015 in Lagos. With the prevailing oil and gas prices, which are 40% lower than previous levels and its resultant significant reduction in…
BPE clears air on privatization issues
THE Bureau of Public Enterprise (BPE) has cleared the air regarding the issues surrounding the privatization of Integrated Energy Distribution and Marketing Company (IEDM) and distribution companies. The BPE said in a statement yesterday, that being the Secretariat of the National Council on Privatisation (NCP) does not have the powers to approve disbursement of funds…
Marketer seeks govt’s support for new refineries
THE building of refineries in Nigeria may not be realistic until government engenders an enabling environment that encourages investment by local marketers, the managing director of Capital Oil, Ifeanyi Ubah has said. Speaking on the prevailing fuel scarcity in the country, Ubah argued that removal of fuel subsidy remains the only viable option for President…
Infrastructure deficit: Seven Energy sues for increased investment
WORRIED by the spate of gas shortages in the domestic market, an indigenous integrated gas firm, Seven Energy has advocated for a reviewed gas policy that would encourage fresh investments in pipeline infrastructure. Abdullahi Bukar of Seven Energy, in a chat with the media in Lagos, recently said the infrastructure deficit in Nigeria is massive…
Anxiety over oil prices, as OPEC meets this week
ALL eyes are on the ministers of the Organisation of Petroleum Exporting Countries (OPEC), as they gather to determine the fate of member countries on Friday in the midst of crude price volatility. The prevailing crude price situation has nearly cracked OPEC, as member-countries lobby to protect their various economies, which were apparently affected by…
Port Harcourt Refinery embarks on rehabilitation programme
PORT HARCOURT Refining Company (PHRC) Limited, has unveiled plans to embark on rehabilitation project to meet local needs of petroleum product in the country.
Universal Energy Commences Production at Stub Creek
Universal Energy in which gas producers, Seven Energy has a 62.5 per cent equity interest, has commenced production from the marginal field, Stubb Creek Field in Akwa Ibom State at an initial gross rate of 2,000 barrels per day (bpd).
Trouble brewing as SAC oil announces exit from OPL 223
In spite of SacOil’s optimistic announcement that it is quitting oil prospecting licence (OPL) 233 located in Koloama Community, Bayelsa State, within the transition zone and shallow offshore environment (5-10m) in the Niger Delta, it seems that trouble is brewing in yet another example of failed “marriages” in the Nigerian upstream sector.
Samsung Heavy, NLNG buoy local content in oil, gas sector
Poised to ensure realisation of the local content policy of the Federal Government in the oil and gas sector, Samsung Heavy Industries Nigeria (SHI) and the Nigerian Liquefied Natural Gas (NLNG), have trained about 57 Nigerian youths at the SHI shipyard in Geoje, South Korea.