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.
Dangote Selects UOP Technology for its Lekki Refinery
The dreams of Africa’s richest man, Aliko Dangote, to solve the nation’s refinery capacity is a step closer to realization following the news that the Dangote Group has chosen the technology for its refinery.
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.
Nigerian-owned oil firm donates $1m to Nepal earthquake victims
West African Ventures Limited, a 100 per cent indigenous oil and gas company, owned by a Nigerian, Jacques Roomans, has donated $1 million to the unfortunate victims of the recent devastating earthquake in Nepal. This donation from the company, which is a subsidiary of the Sea Trucks Group, was made to help the country in…
Oilserve incorporates new gas, power companies
The OilServe Group, a consortium of Pan African Oil & Gas and Power companies that provide services across the Oil & Gas and Power sector value chains in the Sub-Saharan Africa region, has incorporated two new companies – FrazOil Limited and FrazPower Limited.
NNPC faults forensic report on misappropriation of $20 billion kerosene subsidy
The Nigerian National Petroleum Corporation (NNPC) has once again faulted the alleged misappropriation of $20 billion through kerosene subsidy, saying that forensic report of PricewaterhouseCoopers (PwC) on the corporation’s income and expenditure did not capture the reality.