DrillBytes
10 Apr 2019
Dangote Refinery, currently under construction has been described as a project that would assist Nigeria’s quest of attaining 1.095 million barrels per day self-sufficiency in the refining of petroleum products. Chief Operating Officer, Upstream, Nigerian National Petroleum Corporation (NNPC), Bello Rabiu, disclosed this at the just concluded Nigeria Oil and Gas Opportunity Fair (NOGOF) in…
10 Apr 2019
Seplat Petroleum Development Company Plc, has urged public and private sector operators to invest more in research and development aimed at promoting safety. The oil company noted that such investments should cut across the different sectors of the economy as is the case for the oil/gas and aviation sectors, among others. The Operations Director of…
27 Mar 2019
Solar Nigeria for the People Limited (Solar Nigeria FTP), the Nigerian subsidiary of Solar Philippines has signed a Community Agreement with Ode Omi Community to invest about half a million dollars to build a large rural mini grid. Signing the agreement, the Country Director of Solar Nigeria FTP, Dr. Tobi Oluwatola in a statement, said…
27 Mar 2019
The $12 billion Train 7 (T7) project got a boost as the Bonny Entrepreneurs and contractors Forum has assured the Nigerian Liquefied Natural Gas (NLNG) and the federal government that Bonny is ready for the project. The Forum Chairman, Idawarifagha Benstowe, who spoke to newsmen after the forum's inaugural meeting said: "We are hopeful that…
27 Mar 2019
The Shell Petroleum Development Company of Nigeria Limited (SPDC) has upped its contractor support fund with $200 million in an effort to boost the financial capacity of vendors and suppliers in Nigeria’s oil and gas industry. This latest move brings the fund size to $2.4 billion. Shell, in 2016, had signed a $2.2 billion MoU…
27 Mar 2019
As parts of efforts to expand the penetration and accessibility of renewable energy in Nigeria, ‘infinity,’ an online solar energy technology which optimises diverse power provision has been unveiled in the Nigerian market to close the lingering energy gap. The technology, which is a combination of smart storage of energy and solar, has been formulated…
21 Mar 2019
An increase in the number of new refining capacity, expected to extend till the end of 2024, signifies major competition ahead for the oil industry, with possible shutdowns, the International Energy Agency (IEA), said in its Oil 2019 Report. The IEA noted specifically that such a capacity expansion will require shutdowns to balance, estimating that…
16 Jan 2019
The fear over oil price volatility and its implications on Nigeria’s economy in 2019, continues to headline discourses and research, as Coronation Merchant Bank predicts, “a lot depends on oil this year.” In the lender’s “2019 Macroeconomic Outlook” report, due to be released today, it forecasts oil price at an average of $58 per barrel…
7 Nov 2018
The Nigerian Content Development and Monitoring Board (NCDMB) and the Indigenous Petroleum Producers Group (IPPG) have restated their commitment to ending unnecessary delays in contract cycles. In a bid to driving this, the entities signed a Service Level Agreement (SLA), which would boost local content implementation and simplify the procurement and tendering processes for oil…
16 Oct 2018
The Federal Government and other major stakeholders have identified challenges militating against Nigeria’s journey to a gas-based economy. They spoke at the Nigerian Gas Association (NGA) 11th International Conference and Exhibition yesterday in Abuja. The Minister of State, Petroleum Resources, Dr. Ibe Kachikwu, Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti…
3 Oct 2018
Schneider Electric, a global specialist in energy management and automation, restated its resolve to taking clean energy to some of Nigeria’s most rural areas This move, which complements its provision of high quality electrical appliances to Nigerians, is aimed at empowering more Nigerians, especially those not connected to the grid. “The company is doing this…
3 Oct 2018
As more stakeholders in the country’s oil/gas and maritime space continue to leverage critical partnerships to develop vessels, the country’s local content programme championed by the Nigerian Content Development and Monitoring Board (NCDMB) appears to be gathering momentum. Collaborations have been identified as particularly effective way to lower costs and simplify contractor management. Combining equipment,…
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