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DrillBytes

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,…
3 Oct 2018
After 58 years of independence, the state of the Nigerian oil industry has remained pathetic among other oil producers. Up till this moment, the industry lacks relevant and contemporary regulations. In other words, the industry lacks global competitiveness, which automatically puts it at the mercy of subjective interests, STANLEY OPARA writes The refusal of President…
3 Oct 2018
Nigerian crude market is still stuck with an overhang of close to 20 unsold cargoes from the 58-strong October loading programme...
3 Oct 2018
Aveon Offshore has partnered National Oilwell Varco (NOV) to launch an OLT in Port Harcourt, the Rivers State capital. The Chairman of Aveon Offshore, Tein George said: “We at Aveon Offshore continually strives for excellence by delivering top-notch services within defined project timelines. We are a proudly safety-conscious company and our amazing safety record, which…
3 Oct 2018
The Nigerian Gas Association has said the only remedy to addressing the energy needs of the country’s fast growing population remains the effective use of gas resources. The President, NGA, Mr. Dada Thomas, said for a country growing by over three per cent per annum, “we need energy security, and gas provides the solace.” However,…
3 Oct 2018
Oilerv Limited, a leading indigenous oil and gas Company in Nigeria recently signed a joint venture agreement with GEpetrol, which resulted in the formation of Oilserv Equatorial Guinea S.L, to expand its global footprint. The joint venture partnership is a collective strategic thinking aimed at driving inbound investment into the Equatorial Guinea oil/gas landscape and…
12 Sep 2018
Failure on the part of industry regulators in Nigeria has relegated Nigeria to the background among the comity of nations, thus making it a destination for dirty fuels. Petroleum products that are not accepted in other parts of the globe including most African nations, have continued to flood the country’s product space, leaving Nigerians, the…

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48 mins ago
The Speaker, House of Representatives, Mr Femi Gbajabiamila, has pledged the commitment of the House to drive a legislative agenda that will promote the country’s manufacturing sector.
4 hours ago
Afropop, Afrobeats, R & B singer-songwriter Wande Coal is back with a supremely catchy new song "Come My way". Produced by Bruno and Screwface, Wande whose insane talent for colouring sounds is undoubtedly the King of Falsetto, as he does justice to this beautiful new single. "Come My Way" overflows with ethereal excellence with Wande's…