Crude at $50 threatens $1.5 trillion in oil, gas projects
DESPITE efforts to cut costs, the petroleum industry can’t make money on $1.5 trillion in pending investments on conventional and North American shale drilling projects with $50 oil, Wood Mackenzie estimates.
Star Deepwaters donates chest clinic to Akwa Ibom hospital
Star Deepwater Petroleum Limited and its partners in the operation of the Agbami Field has donated fully equipped Chest Clinics for the control of tuberculosis in the country.
Oando Plc boosts traders’ fortunes with LPG gas stove
Oando Marketing Plc has initiated a new social benefit scheme aimed at alleviating the sufferings of Nigerian women entrepreneur in the food business by making available Liquefied Petroleum Gas (LPG) to them at affordable prices.
Oil sinks more than 2.5% on uncertain global outlook
Crude oil prices fell on Tuesday, reversing a steep rally the previous day, under pressure from uncertainty over whether global demand will be enough to erode a sky-high surplus
Nigeria’s petroleum, power sectors under ‘change’ mantra
Since the inception of the new administration, better days seem to be ahead for the nation’s power, oil and gas sector. Though, power supply is still far less than the country requires to drive economic growth, there has been appreciable improvement in electricity generation since June this year.
World nuclear body projects 25% growth by 2050
World Nuclear Association has emphasized the need for the global nuclear industry to aim to achieve a 25 per cent share of world electricity production by 2050.
Nigerians in Diaspora to explore opportunities in local oil, gas sector
There are indications that Nigerians in Diaspora are now gathering interest in exploring opportunities in the local oil and gas market, even as they are keen to repatriate their richly endowed skills to support their motherland.
China records decrease in use of coal
Economic deceleration, industry restructuring, and new energy and environmental policies have slowed the growth of coal consumption in China and are also driving more centralized and cleaner uses of coal, the U.S Energy Information Administration (IEA), has said.
Nigerian Gas and Steel moves against capital flight
Nigerian Gas and Steel (NGSL) Limited has restated its commitment to save the huge capital flight incurred by Nigerians who depend on importation of steel pipes.
Nigeria, Angola as Africa’s hub for offshore oil, gas
Nigeria and Angola present attractive growth and operational expansion opportunities for manufacturers in the offshore oil and gas paints and coatings market, according to a report by Frost & Sullivan, a South African-based growth partnership company.
Reforming the industry, transforming the benefits
There are certain grey areas in the management of Nigeria’s oil and gas industry that has hitherto been overlooked over the years either due to our military mentality, inclement operating environment, fiscal indiscipline, impunity, ignorance or all of the above.