DrillBytes

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,…

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…

Nigerian crude market is still stuck with an overhang of close to 20 unsold cargoes from the 58-strong October loading programme...

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…

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,…

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…

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…

Deputy Managing Director, Deep Water District, TOTAL, Mr. Ahmadu-Kida Musa, has promised a 200, 000 barrel per day increase to Nigeria’s oil output. Musa disclosed this at the National Association of Energy Correspondents’ Conference in Lagos yesterday. He said the projection by Total E&P Nigeria Limited would be realised in the fourth quarter of this…

The United State (U.S) product imports from the Organisation of the Petroleum Exporting Countries (OPEC) member countries dropped by 23 thousand barrels per day (tbpd) compared to a month before to stand at 301 tbpd. Besides, OPEC has raised world oil demand by 1.65 million barrels per day (mbpd) in 2018 in its July monthly…

Even with the passage of the Petroleum Industry Governance Bill by the National Assembly, is still being faced with unaddressed issues, which originally should have been dealt with in the legislation, STANLEY OPARA writes It is no news that the current National Assembly has passed the Petroleum Industry Governance, which seeks to provide for the…

Sale of petroleum products by the Pipeline and Products Marketing Company (PPMC) decreased from the N198.94 billion realised in the month of February to N184.02 billion in May, 2018. Total revenues generated from the sales of white products for the period March 2017 to March 2018 stands at ₦2.129 trillion, where Premium Motor Spirit (PMS)…

Last week, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, said that the Federal Government is targeting 10 per cent of the world’s market share...