Category: Oil & Gas
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.
FG spends N8.9trn on subsidy in 10 years, says PPPRA
It said that the subsidy was paid to oil marketers and the Nigerian National Petroleum Corporation (NNPC) in the period under review.
Gas can guarantee Nigeria’s economic security —Neconde Energy Head of Gas Ventures, Chichi Emenike
We need to open up the market for investments. We have talked about this for too long and fortunately, Nigeria is strategically positioned to even become a hub for gas in Africa. Even if we don’t do the entire Africa, we can start along the corridors within the Gulf of Guinea and to take the gas outside to the world but we need to open up domestically across the value chain from here into the West African region.
Filling stations’ll dispense gas in vehicles from September, says FG
Documents obtained from the Federal Ministry of Petroleum Resources in Abuja on Friday stated that the Committee on National Gas Expansion Programme had been assigned to ensure the effective implementation and take off of this initiative.