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29 May 2019
Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, yesterday restated commitment to developing the nation’s gas sector as part of measures to increase local consumption of gas in Nigeria as well as export market.    Speaking as indigenous and international firms jostle for contracts to off-take Natural Gas Liquids (NGLs), in which…
23 May 2019
Considering the amount of stranded gas that can be utilised for domestic consumption and the nation’s energy challenges, stakeholders in the gas sector have said gas-fired power generation represents the most economically viable and immediate means to fuel Nigeria’s energy needs.    According to them, most of the gas produced is not channelled for local…
17 Apr 2019
The Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, has stated that his visit to the ERHA FPSO operated by ExxonMobil Nigeria is to provoke the nation’s Oil Production Fields to ramp up crude production and unlock gas in line with the Gas Revolution Agenda of the #7BigWins.     While addressing key business…
Report of a looming fuel scarcity again at this time of the year has come
17 Apr 2019
Prosecution witness, Chidi Nweke, has told a Federal Capital Territory (FCT) High Court in Apo, Abuja, how two directors of Origin Oil and Gas Limited, Adegbite Adetoye and Ponle Abiodun, defrauded the federal government of over N735 million in subsidy scam. At the resumed hearing of the case yesterday before Justice Silvanus Oriji, an operative…
10 Apr 2019
The Nigerian Content Development and Monitoring Board (NCDMB) has presented 80 business opportunities that worth $100billion for operators in the Nigerian Oil and Gas industry. Speaking at the recently concluded 2nd Nigerian Oil and Gas Opportunity Fair (NOGOF) in Yenagoa, Bayelsa State, the Executive Secretary, NCDMB, Simbi Kesiye Wabote, said the Board had identified over…
10 Apr 2019
Mafuta Energy Services Nigeria Limited, has stated that it would continue to leverage new technologies to address challenges in the oil and gas sector, as a way of contributing its own quota to the development of the upstream sector of the economy. Speaking on the capability and functionality of the oil and gas firm, Co-founder…
8 Apr 2019
Oando Nigeria Plc has recorded a turnover of N679.5 billion and Profit After Tax of N28.8 billion for the financial year ended December 31, 2018, despite acclaimed harsh operating environment. Specifically, the firm’s audited result showed that turnover increased by 37 per cent to N679.5 billion compared to N497.4 billion in 2017, while PAT rose…
8 Apr 2019
Head of Agro-Economy Desk, FEMI IBIROGBA, writes on how seasonal and highly perishable mangoes could be processed, preserved and used to create wealth for the processors and other value chain players. THEY are here now in abundance. They come every year. But more of them get wasted than consumed or utilised. They are mangoes. The…
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
The ministries of Petroleum Resources, Finance and Budget & National Planning have promoted a new initiative targeted at addressing key challenges in the nation’s oil and gas sector. Speaking in Abuja at the inaugural meeting of the Nigerian Petroleum Fiscal Consistency Network, which would drive the initiative, Adviser to the Minister of Petroleum Resources, Dr.…
27 Mar 2019
Gas supply needed to boost generation dropped to 17,464 million standard cubic feet (mmscf) within the last 24 days in March, as against 21,521 mmscf recorded in February. Data from the Office of Vice President, Prof. Yemi Osinbajo, indicated that last month, Nigeria’s privatised power sector lost a total of N44.38 billion revenue due to…
27 Mar 2019
An application called Petroapp has been launched to help integrate operations in Nigeria’s oil and gas downstream sector. The Managing Director, Axiom Tech Limited, Andre Bassey who also doubles as Co-founder Petroapp, explained that the move was imperative owing to the fact that the downstream sector of Nigeria’s oil and gas industry is bedevilled by…

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