Oke Peter with Agency Report Nigeria’s Minister of State for Petroleum Resources, Mr Ibe Kachikwu, has said the Federal Government generated over $2 billion from the renewal of oil block licences. The former Group Managing Director the Nigerian National Petroleum Corporation (NNPC), said the funds will be used to implement the nation’s budget. “We have…
ExxonMobil said today that it has begun drilling the Haimara-1 exploration well offshore Guyana, the first of two planned wells in January. The Stena Carron drillship is drilling the well, which is located 19 miles (31 kilometers) east of the Pluma-1 discovery in the southeast Stabroek Block. The Noble Tom Madden drillship is expected to…
Edo State Ggovernor, Godwin Obaseki yesterday inspected progress of work and equipment at the 55 Megawatts CCETC/Ossiomo Power plant facility in the state. The plant is located at Ologbo on Benin-Sapelr road axis of the state. Addressing reporters after the inspection, Obaseki said when the plant was completed, more electricity would be provided for distribution…
Oil and gas firms operating in the country flared a total of 215.9 billion standard cubic feet of natural gas in the first nine months of last year, amounting to a potential loss of N197 billion. The Punch has reported. Data obtained from the Nigerian National Petroleum Corporation (NNPC) showed that 31.68 billion scf of…
Oke Peter with Agency Report A Niger Delta militant group, known as the Koluama Seven Brothers, has blown up a crude oil pipeline owned by Conoil in Bayelsa State. The group launched the bomb attack on the pipeline located at Koluama community in the Southern Ijaw Local Government Area of the state late on Friday….
Damilola Shittu – Abuja A sum of N1. 149, 385 trillion is estimated to go into the payment of subsidy on petrol imported into the country this year. With the provision of a mere $1 billion, which is about N305 billion in the 2019 budget year, the country may run into a massive budget deficit…
By Julianne Geiger Iran’s Parliament Research Center is predicting negative growth for Iran in the current fiscal year that ends March 20 due to its falling exports, Radio Farda reported on Friday. The economic contraction could be as significant as 5.5 per cent negative growth, the Research Center figures, with the best-case scenario ending with…
The General Manager, Corporate Communications, Eko Electricity Distribution Company (EKEDC), Mr Godwin Idemudia, said the company distributed food items to orphanages in 10 districts within its network. Idumudia said on Thursday, in Lagos that the gesture was part of the company’s Corporate Social Responsibility (CSR). Idemudia said the food items were distributed between December 20,…
Damilola Shittu with Agency Report Crude oil cargoes leaving for the United States from Nigeria and other members of the Organisation of Petroleum Exporting Countries (OPEC) dropped in December to the lowest level in at least five years, data from Refinitiv Eikon and market intelligence firm, Kpler, showed. Oil cargoes departing from OPEC nations to…
By Irina Slav The oil industry, it seems, has gone all-in on digital technology, having gotten an early taste of how much various solutions can influence its cost discipline and bottom lines. Last month, Oilprice wrote how some in the digital tech field expected artificial intelligence for the oil and gas industry to pass from…
