Headlines Oil & Gas

NNPC, Shell, Chevron sign agreement to boost FG’s revenue by $16bn

Ihesiulo Grace 4 August 2017 0

Two sets of alternative financing agreements on Joint Venture (JV) projects to boost reserves and production in line with government’s aspiration were executed in London on Monday between the Nigerian National Petroleum Corporation (NNPC) and two of its JV partners: NNPC/Chevron Nigeria Limited

News Oil & Gas

Oil& gas: FEC seeks local refining as against products’ importation

Ihesiulo Grace 28 July 2017 0

The Ministry of Petroleum Resources is pushing for a refining processing environment and moving away from exporting to refining petroleum products. This is contained in the approved National Petroleum Policy by Federal Executive Council (FEC) meeting held on Wednesday 19th July, 2017 in Abuja, which ended on a high note as the cabinet meeting presided […]

Oil & Gas

OPEC to cap Libya, Nigeria oil output

Ihesiulo Grace 18 July 2017 0

The market is on a recovery track due to rising global demand, Kuwait’s Organisation of the Petroleum Exporting Countries Governor Haitham Al-Ghais told Reuters. In an effort to eradicate a supply glut, the OPEC is curbing output by 1.2 million barrels per day (bpd) until March 2018, while Russia and other non-OPEC producers are cutting […]

News Oil & Gas

Delta oil community urges FG to prevail on NPDC to give jobs to indigenes

Ihesiulo Grace 6 July 2017 0

Gbaramatu Traditional Council in Warri South West Local Government Area of Delta State has urged the Federal Government to prevail on the management of the Nigerian Petroleum Development Company (NPDC), to honour the agreement reached with the people of the oil rich Gbaramatu Kingdom to sustain the prevailing peace in the area. The spokesman of […]

Nigeria Oil & Gas

Our goal is to add value to the society- Chevron

Ihesiulo Grace 21 June 2017 0

…as Company sponsors AWARES 2017 for journalists International oil company, Chevron Nigeria Limited (CNL), has said that its long term interest is to add value to society, creating value for its stakeholders. The reassurance was given in the Welcome Address by the Company’s General Manager, Policy, Government and Public Affairs, Esimaje Brikinn at the ongoing

News Oil & Gas

Niger Delta traditional rulers slam NLNG for failure to pay statutory 3% of its annual budget to NDDC

Ihesiulo Grace 25 May 2017 0

Traditional rulers from across the Niger Delta under the auspices of Traditional Rulers of Oil Mineral Producing Communities of Nigeria (TROMPCON), have lampooned the Nigeria Liquefied Natural Gas Limited (NLNG), for refusing to meet its statutory obligation of the payment of three percent of its annual budget to the Niger Delta Development Commission (NDDC) thereby, […]

Oil & Gas

GE proposes to invest in Nigeria’s three refineries

Ihesiulo Grace 25 January 2017 0

  General Electric, GE, a US multinational company, Tuesday in Abuja, proposed to invest in the nation’s three refineries located in Port Harcourt, Warri and Kaduna. GE, in a presentation to NNPC GMD, Dr. Maikanti Baru, and his team stated that the company’s teams of partners, including its consortium involving the Engineering, Procurement and Construction […]

News Oil & Gas

50 Companies bid for NNPC’s boat supply contract

Ihesiulo Grace 15 January 2017 0

A TOTAL of 50 companies recently submitted bids to partake in the provision of sea worthy Tug boats on charter time basis for the maritime operational requirements of the Nigerian National Petroleum Corporation  (NPC) in Lagos, Warri and Port Harcourt. The public bid opening event which was held at the Abuja corporate headquarters of the […]

News Oil & Gas

NNPC, Schlumberger collaborate on frontier exploration

Ihesiulo Grace 13 January 2017 0

  The Nigerian National Petroleum Corporation, NNPC, has stepped up collaboration with the reputable multinational oil service company, Schlumberger, in the deployment of state-of-the-art technology in the ongoing search for commercial hydrocarbon deposits in the Chad basin and other parts of the inland sedimentary basins. In an interview published in the latest edition of

Business News Oil & Gas

Chevron appoints new MD

Ihesiulo Grace 31 December 2016 0

Chevron Nigeria Limited (CNL) has announced the appointment of Mr Jeffrey Ewing to the position of Chairman and Managing Director of its companies in Nigeria, effective January 1, 2017. Its General Manager, Policy, Government and Public Affairs (PGPA), Mr Esimaje Brikinn disclosed this in a statement issued and made available to the News Agency of […]

Business Oil & Gas

NNPC lifted crude oil worth N6.6trn in 22 months — Report

Ihesiulo Grace 22 December 2016 0

The Nigeria National Petroleum Corporation (NNPC) lifted crude oil worth N6.6trillion between January 2015 and September 2016, a report by the Nigeria Extractive Industries Transparency Initiative (NEITI) has said. NEITI in its summary of the report, contained in its occasion paper series issued for December, lauded the corporation for publishing its monthly reports since

Headlines News Nigeria Oil & Gas

Transparency in procurement processes our watchword, NDDC chairman assures

Ihesiulo Grace 16 November 2016 0

As part of measures to ensure transparency in the Niger Delta Development Commission, (NDDC), the agency is taking some giant strides to strengthen its procurement processes. The Chairman of the NDDC Governing Board, Senator Victor Ndoma-Egba (SAN), said this after an extra-ordinary meeting of the board on Monday in Abuja, according to a statement signed […]

Headlines News Oil & Gas

FG to scrap NNPC, DPR, PPPRA as Buhari targets single regulator for oil sector

Ihesiulo Grace 14 November 2016 0

    There is an air of upset in the oil sector following the plan by the government to scrap regulatory authorities including the Nigerian National Petroleum Corporation (NNPC), Department of Petroleum Resources (DPR) and Petroleum Products Pricing Regulatory Agency (PPPRA). This was contained in the draft National Oil Policy document released by the Ministry

Headlines News Oil & Gas

Nigeria Targets 60% Drop In Petroleum Products Import By 2018

Ihesiulo Grace 25 October 2016 0

The Nigerian government says it is targeting at least 60% drop in importation of petroleum products by 2018 and export increase by 2019. The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, told a gathering in Lagos that current reforms initiated by the government would ensure the reduction in importation and subsequently position the country […]

Headlines News Oil & Gas

Recession: Petrol sells above N145 per litre in 15 states

Ihesiulo Grace 18 October 2016 0

Despite the federal government’s assurance that the price of petrol will reduce from N145 per litre, it sold above the price in 15 states of the federation, last September, data from the National Bureau of Statistics, NBS, has shown. According to the NBS, Cross River State led the price table with N154.6, followed by Kaduna, […]

Headlines News Oil & Gas

Shell, partners empower 60 Ogoni entrepreneurs

Ihesiulo Grace 17 October 2016 0

The Shell Petroleum Development Company Joint Venture said it had trained another 60 youths in entrepreneurship, business planning, management and pitching as part of its employment generation initiatives in Ogoniland. It said in a statement on Sunday that 50 of the trainees, who were successful in the final assessment, received start-up funds for their business […]

Oil & Gas Politics

North moved against Jonathan because of oil blocs – Ofeimun

Ihesiulo Grace 10 October 2016 0

Awoist and poet, Odia Ofeimun, is not happy with how Nigeria has been destructured and unitarised over the years and how some vested interests are interpreting restructuring as a move to dismember the country. At the 20th anniversary lecture of the City People magazine, penultimate Thursday, he traced the socio-political history of the country and […]

Business Oil & Gas

Recession: NNPC warns, reserves running out.

Ihesiulo Grace 4 October 2016 0

—The Nigerian National Petroleum Corporation, NNPC, yesterday, painted a gloomy outlook for Nigeria’s economic fortunes, as it disclosed that the country’s crude oil and gas reserves were fast depleting. The NNPC in a statement in Abuja, therefore, begged oil and gas exploration companies, professionals and other stakeholders to focus on increasing the nation’s oil and

Business Oil & Gas

In Five Months FG saves N173bn.

Ihesiulo Grace 3 October 2016 0

The Federal Government says it has been saving a total of $4m (N1.22bn) daily in fuel import bill since May 12, this year when it stopped paying subsidy claims to importers. The Minister of Budget and National Planning, Senator Udo Udoma, who confirmed the figure, said the liberalisation policy in the oil sector had also […]

Business Oil & Gas

Global Oil bench mark: $50 per barrel.

Ihesiulo Grace 3 October 2016 0

Global oil benchmark, Brent crude, extended its rally on Sunday to hit the $50 per barrel mark, the third time this year. This comes as the expected return of the Forcados export terminal has helped to boost Nigeria’s planned crude oil exports this month to about 1.98 million barrels per day, the most since January. […]