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.
Shell Reopens 180,000 Bpd Bonny Light Crude Export Pipeline
Shell has re-opened the 180,000 barrels per day capacity Trans Nigeria pipeline, which supplies Bonny Light crude oil grade to the export terminal. Although Shell did not declare a force majeure on supplies, the 4-day closure could lead to delays in loading some June cargoes according to Reuters. The reason for the shut down was…
Conoil acquires mega aircraft fuellers
Major petroleum products marketer, Conoil Plc has placed orders for two new world-class, state-of-the-art bowsers to deepen its service delivery to leading domestic and international airlines operating in the nation’s airspace.
Stakeholders seek new refineries
As the current scarcity of Premium Motor Spirit (PMS) lingers, stakeholders in the Nigerian oil and gas sector believed that the establishment of new refineries and the deregulation of the downstream sector is the only way out.
SC orders Chevron to maintain status quo with regard to disputed oil blocks
Britannia-U’s attempt to win the divested oil mining leases (OMLs) 52, 53, 55, received yet another boost after the Supreme Court ordered all parties to maintain the status quo with respect to the action. Britannia-U was appealing against a Court of Appeal order dismissing the interlocutory injunction, which Britannia-U Nigeria had obtained against Chevron in…
Electricity supply dips further, consumers, Discos lament
The energy crisis in the country may have eaten deep into the system, as the Distribution Companies (Discos) lament sharp drop in electricity from the national grid.
Seven Energy Begins delivery of gas to Alaoji Power Station
Seven Energy, the indigenous Nigerian integrated gas company, through its wholly owned subsidiary, Accugas, has commenced supply of gas to the Alaoji Independent Power Project in Alaoji, Abia State. Gas delivery to the 504MW power station commenced in May 2015. Accugas is one of two gas suppliers to the plant with an initial contractual commitment…
Oyo Field Production Stabilises at Over 7,000 Barrels Per Day
Independent oil and gas exploration and production company, Erin Energy Corporation has commenced production from its new Oyo-8 well and says that production from the field located offshore on oil mining lease (OML) 120 has now stabilised at a rate of 7,080 barrels per day.
Offshore West Africa announce Strategic Partnership with International Trade Council
Offshore West Africa Conference & Exhibition, owned and produced by PennWell Corporation, has announced a Strategic Partnership for the upcoming 20th anniversary edition with the International Trade Council (ITC). Taking place on 26‐28 January 2016 at the Eko Hotel & Suites, Lagos, Nigeria, the 20th annual Offshore West Africa will build on the success of…
Oando marketing rewards distributors for best performance
Oando Marketing Plc, a leading oil marketing company recently rewarded best performing lubricant distributors nationwide for their outstanding performance in 2014 financial year in an event comprising of an award ceremony tagged “Lubes Distributors Award 2015”and strategic business review meeting with its top performing lubricants distributors from various regions across the country.