Category: Oil & Gas
Foreign refineries process N2.39tn oil for Nigeria in 13 months
Foreign refineries processed crude oil valued at N2.39tn between March 2020 and March 2021 to ensure domestic supply of refined petroleum products in Nigeria as the country’s plants remained in a state of disrepair.
PIC Group awarded O&M Support Services Agreement for a new refinery in Nigeria
Having operated and maintained assets, deployed and trained workforces in remote locations around the world, and building on years of experience in Nigeria, PIC Group has entered into a 5-year service agreement with Azikel Petroleum Ltd. for the new Azikel Refinery to be located in Yenagoa, Bayelsa State, Nigeria.
Senate passes Petroleum Industry Bill, approves 3% for host communities
The Senate on Thursday passed the Petroleum Industry Bill and approved 3 per cent for the host communities
OP-ED: Changing SA fuel landscape opens fields for new BEE players
The spate of recent closures of major refineries in South Africa, and the uncertainty over whether it’s worthwhile to lift the local refining industry up off its knees, has fundamentally changed the country’s fuel landscape.
NNPC plans to acquire stakes in six private refineries
The Nigerian National Petroleum Corporation (NNPC) on Monday said it is currently considering equity participation in some private refineries across the country.
Nigerian govt, Shell in talks over sale of oil assets
The Minister of State for Petroleum Resources, Chief Timipre Sylva, has said the Federal Government is in talks with Shell over the planned sale of the company’s stakes in Nigeria’s onshore oil assets.
NNPC seeks investors to operate, maintain refineries
The Nigerian National Petroleum Corporation (NNPC) is soliciting expression of interest (EOI) from companies qualified to operate and maintain three state-owned oil refineries.
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.