Category: Oil & Gas
Buhari commissions 5,000bpd Waltersmith modular refinery in Imo
President Muhammadu Buhari on Tuesday commissioned a 5,000-barrel per day Waltersmith modular refinery in Imo State, saying the advent of such refineries in the country will aid the availability of petroleum products and eliminate importation.
Crude oil in commercial quantity discovered in Benue Trough, says NNPC
The Nigerian National Petroleum Corporation (NNPC) on Thursday said the volume of crude oil discovered in Benue Trough was in commercial quantity.
We are driving growth of domestic gas market to power Nigerian economy —Seplat
SEPLAT Petroleum Development Company Plc, said it is driving the growth of the domestic gas market to power the economy particularly because of the energy shortfall in terms of electricity.
2019 financials: Bankruptcy looms at NNPC —Auditors, management warn
Independent auditors and management of the Nigerian National Petroleum Corporation, NNPC, have raised doubts over the ability of the corporation to continue as a going concern, following rising losses and negative capital as a result of excess of liabilities over its assets as stated in its recently published 2019 Audited Financial Statement.
FG tightens requirements for setting up gas plants
The Department of Petroleum Resources, (DPR), on Sunday released guidelines for the establishment and operations of downstream gas facilities across the country, stating that companies seeking to establish gas-dispensing facilities would be required to obtain three approvals and licences, among others, before commencing operations.
FG deploys 1,000 automobile petrol-to-gas conversion kits
He said, “As a way to address the barrier, we have about 1,000 conversion kits for trucks and smaller vehicles to be deployed nationwide in the fourth quarter of 2020.
Unlock Nigeria’s gas potential for economic development —Dangote urges FG
“But, our focus at Dangote is how to add value to the natural gas. After all, this Liquefied Natural Gas (LNG) that is being imported by various countries is used as fixed stock. They use this natural gas to generate power, fuel and as feedstock. The value-added products are thereby exported to Nigeria.
Buhari submits PIB to National Assembly, scraps NNPC, PPPRA in new bill
The President Muhammadu Buhari, has transmitted the much-awaited Petroleum Industry Bill 2020 to the National Assembly and has proposed the creation of the Nigerian National Petroleum Company Limited.
OPEC in trouble as oil outlook worsens
OPEC members were served an unpleasant surprise from exempted fellow Libya. The country’s warring factions reached a ceasefire, and some long-shuttered oil ports have been reopened, along with the fields that feed them.
Non-passage of Petroleum Industry Bill scaring investors —Kyari
Kyari said international investors were losing confidence in the nation’s oil and gas industry and tasked the lawmakers to act fast and arrest the situation.