Category: Oil & Gas
Cautious optimism as contractor takes over PH refinery for $1.5bn rehab
Stakeholders in the energy industry, on Thursday, called for cautious optimism and a public policy document as the Nigerian National Petroleum Corporation (NNPC) in Port Harcourt handed over the Port Harcourt Refinery to Tecnimont SPA for the commencement of the $1.5 billion rehabilitation project.
Seven countries account for two-thirds of global gas flaring —World Bank
According to satellite data compiled by the World Bank’s Global Gas Flaring Reduction Partnership (GGFR), seven countries account for two-thirds of global gas flaring.
Nigerian refineries idle for 19 months, record N177.21bn loss
In 19 straight months of not processing any barrel of crude oil, the government-owned refineries in Nigeria recorded a total loss of N177.21bn, the latest data from the Nigerian National Petroleum Corporation have shown.
‘Wärtsilä gas conversion project will accelerate Senegal’s move to cleaner energy production’
The technology group Wärtsilä will convert the close to 90 MW Bel-Air power plant in Dakar, Senegal to operate on liquefied natural gas (LNG). The plant, which is owned by Senelec, Senegal’s public utility company, currently operates on heavy fuel oil.
BUA, 27 others now have active refinery licences—DPR
The Department of Petroleum Resources said on Tuesday that 28 investors, including BUA Refinery & Petrochemicals Limited, have active refining licences.
NNPC signs deal with Tecnimont SpA to rehabilitate Port Harcourt refinery
The Nigerian National Petroleum Corporation (NNPC) has signed an Engineering, Procurement & Construction (EPC) contract with Tecnimont SpA, a subsidiary of Maire Tecnimont. The deal is for the rehabilitation of Port Harcourt Refining Company (PHRC).
‘Why we can’t continue subsidy’ —Kyari •Says PMS may sell for N234 per litre
The Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, says the company cannot continue to bear the subsidy burden.
Nigeria’s $26.5bn maintenance cost enough to build three new refineries
The whopping sum of $26.5b, which the Federal Government has so far spent on the maintenance of its loss-making 445, 000 barrels/day capacity refineries, is capable of building three new refineries of the same size going by the cost analysis of refinery projects across the world.
FG will consult widely before petrol subsidy removal, says NNPC
The Nigerian National Petroleum Corporation (NNPC) has said that the Federal Government is going to consult widely before halting subsidy on Premium Motor Spirit, popularly called petrol.
FG urges Nigerians to disregard N212.61 per litre new petrol price
While speaking at the groundbreaking for the Rungas composite cylinder manufacturing plant in Alaro City Free Zone, Epe, the Minister of State for Petroleum Resources, Mr Timipre Sylva, urged Nigerians to disregard the increase, explaining that it was a mix-up.