Petroleum sector to witness transparency, cost reduction, others, says NNPC’s MD Kachikwu
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Ibe Kachikwu, has unveiled plan that would move the country’s oil and gas sector towards profitability. Among other things, the GMD, has vowed to flush out more people who engage in illegal activities from the NNPC, reduce loses of Nigeria’s crude oil resources…
Sustained low oil prices could reduce exploration and production investment
The United States Energy Information Administration (EIA) has said that sustained low oil prices could mark the beginning of a long-term drop in upstream investment. According to the agency, oil prices reflect supply and demand balances, with increasing prices often suggesting a need for greater supply. It added that greater supply, in turn, typically requires…
Bonga oil spill: Shell faces more community grievances, as N3.6 billion fine intrigues linger
The intrigues trailing the N3.6 billion compensation for damages caused by the Bonga oil spill may be deepening, as the Ilaje communities in Ondo State, are currently considering a legal action against Shell Nigeria Exploration and Production Company, (SNEPCO), a subsidiary of Shell Petroleum Development Company (SPDC) for alleged marginalisation. Specifically, the communities alleged that…
Eunisell records 100,000 LTI free man-hours on Qua Iboe field
Africa focused oil and gas company, Eunisell Solutions has achieved a milestone of 100,000 plus man-hours without loss time incident on one of the nation’s marginal oil fields in Qua Iboe. The company’s Chief Executive, Dickson Okotie, who made this known in a statement issued on Monday, attributed the achievement to the professionalism of the…
‘Create healthy environment for workers’
NIGERIAN employers have been advised to create healthy environment for workers, promote the best occupational health and safety standards. Speaking at the 1000 Days Without Lost Time Accident organised by FrieslandCampina WAMCO Nigeria Plc, Lagos, the Managing Director, of WAMCO, Rahul Colaco, said the company has achieved a lot in terms of safe workplace for…
Crude at $50 threatens $1.5 trillion in oil, gas projects
DESPITE efforts to cut costs, the petroleum industry can’t make money on $1.5 trillion in pending investments on conventional and North American shale drilling projects with $50 oil, Wood Mackenzie estimates.
Star Deepwaters donates chest clinic to Akwa Ibom hospital
Star Deepwater Petroleum Limited and its partners in the operation of the Agbami Field has donated fully equipped Chest Clinics for the control of tuberculosis in the country.
Oando Plc boosts traders’ fortunes with LPG gas stove
Oando Marketing Plc has initiated a new social benefit scheme aimed at alleviating the sufferings of Nigerian women entrepreneur in the food business by making available Liquefied Petroleum Gas (LPG) to them at affordable prices.
Oil sinks more than 2.5% on uncertain global outlook
Crude oil prices fell on Tuesday, reversing a steep rally the previous day, under pressure from uncertainty over whether global demand will be enough to erode a sky-high surplus
Nigeria’s petroleum, power sectors under ‘change’ mantra
Since the inception of the new administration, better days seem to be ahead for the nation’s power, oil and gas sector. Though, power supply is still far less than the country requires to drive economic growth, there has been appreciable improvement in electricity generation since June this year.