Hope rises as Port Harcourt refinery bounces back next month
Hopes of petroleum products consumers may have risen following the recent confirmation by the Nigerian National Petroleum Corporation (NNPC) that the Port Harcourt refinery would begin operation by July, 2015. The Group Managing Director of the NNPC, Joseph T. Dawha, who disclosed this at the monitoring of filling stations in Abuja recently said, when the…
Nigeria set for fresh EITI revalidation test in 2016
Nigeria is on the verge of revalidating its membership of the Extractive Industry Transperency Initiative (EITI), thereby setting a greater task on the Federal Government to entrench transparency and accountability in the oil and gas industry. The sector had been characterised by in-depth corruption, which were revealed in the Nigerian Extractive Industry Transparency Initiative (NEITI)…
Aiteo explains role in crude oil swap arrangement
Aiteo, an indigenous oil and gas firm has refuted a publication in the media alledging the company is involved in indiscriminate exchange of crude for petoleum product as well as its Offshore Processing Agreement (OPA) with the Nigerian National Petroleum Corporation (NNPC), stressing that it never exploited its relationship with the state-run oil firm.
Leeway to more effective procurement mechanism, by NLNG boss
Piqued by the huge loss of money to inefficiencies in the contract procurement procedure in Nigeria, the Managing Director, Nigerian Liquefied Natural Gas (NLNG), Babs Omotowa has proffered a leeway into effective mechanisms that could rescue the country from such corrupt practices and cushion the effect of the oil price crash on the nation’s economy.…
Role of NNPC in low oil price regime, by stakeholders
THE Society of Petroleum Engineers (SPE) Nigeria Council has emphasised the need for the Nigerian National Petroleum Corporation (NNPC) to respond to low oil price regime through subsidy removal, review of CAPEX spending, focus on profitable subsidiaries, delivery of gas projects and domestic refinery optimisation. SPE, in a communiqué issued at the end of 2015…
Lagos oil field to commence production in December
The dream of Lagos State becoming one of the oil producing states is moving fast closer to reality, as the operator projected that the Well in Oil Mining Lease 113 (OML 113) would be churning out the first oil by December. A joint venture partner, Panoro Energy ASA, in its operations update recently, said the…
Govt promises to sanitise petroleum sector
THE Federal Government has expressed commitment to tackle corruption and bring back transparency and accountability to the petroleum industry.
Oriental Energy advances on Okwok oil field development
ORIENTAL Energy Resources Limited (OERL) and its JV Partners, Afren Energy Resources (Afren) and Addax Petroleum (Addax) have announced the completion and flow testing of their first development well, in Okwok marginal field in Oil Mining Lease 13 (OML67).
Matrix Energy delivers 104 million of PMS
MATRIX Energy Limited has embarked onthe delivery of over 12 million litres of Premium Motor Spirit (PMS) and Kerosene on daily basis to ease the challenges of fuel scarcity in the country.
‘Africans living on less than $2.50 a day spend $10 billion on energy’
AFRICAN governments, investors, and international financial institutions must significantly scale up investment in energy to unlock Africa’s potential as a global low-carbon superpower.
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.