Category: Oil & Gas
Court orders FG to renew Shell’s OML 11 for 20 years
Abdullahi Dangiwa – Abuja The Federal High Court in Abuja on Friday ordered the Minister of Petroleum Resources to grant the renewal of the Oil Mineral Lease 11 to Shell Petroleum Development Company of Nigeria for 20 years. Justice Taiwo Taiwo, in his judgment delivered on Shell’s suit, ruled that renewal would be for 20…
African Liquefied Natural Gas (LNG) to attract $103bn in 2019
Nigeria, Egypt, South Africa, Mozambique, Senegal and Mauritania lead investment across supply and demand driven projects Africa is an exciting frontier in the global natural gas sector. The continent holds 7.1 percent of proven global gas reserves and is expected to contribute nearly 10 percent of global production growth through to 2024. On the demand…
Bayelsa guber fight is about access to oil money
This November, the ruling All Progressives Congress (APC) will slug it out with the Peoples Democratic Party (PDP) for the gubernatorial position in oil-rich Bayelsa and the central state of Kogi. In the general polls earlier this year, elections for governor held in only 29 of the country’s 36 states due to a calendar distorted…
5.61bn litres of PMS imported into Nigeria in Q2 2019 —NBS
The petroleum products importation statistics for Q2 2019 reflected that 5.61 billion litres of premium motor spirit (PMS), 1.38 billion litres of automotive gas oil (AGO), 12.22 million litres of Household kerosene (HHK), 131.36 million litres of aviation turbine kerosene (ATK), 77.24 million litres of base oil, 41.79 million litres of bitumen, 27.68 million litres…
Iraq: The only OPEC member that could challenge Saudi oil dominance
In line with its targets for increasing crude oil production to 6.2 million barrels per day (bpd) by end-2020 and 9 million bpd by end-2023, up from the current 4.6 million bpd or so and on a par with Saudi Arabia’s output, Iraq has made it clear to foreign and domestic oil field developers alike…
Expectations as Kyari promises to fix refineries, end fuel import by 2023
Damilola Shittu – Abuja In his determination aimed at meeting Nigerians’ expectations in the oil and gas sector, the new Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has promised to fix the nations’ four refineries before the end of May 2023. He made the promise at the valedictory session organised…
NSCDC considers drones to monitor oil pipelines
The Commandant of the Nigeria Security and Civil Defence Corps (NSCDC) in Lagos State, Mr Tajudeen Balogun, has said the agency has proposed to use drones to enhance its operations to tackle pipeline vandalism. The NSCDC commandant spoke just as the Nigerian National Petroleum Corporation (NNPC) said it had engaged community leaders to secure the…
Buhari removes Kachikwu, appoints new NNPC board chairman
By Oke Peter President Muhammadu Buhari has appointed Dr Thomas John as the acting alternate chairman of the Governing Board of the Nigerian National Petroleum Corporation (NNPC), bringing to an end the tenure of the former Minister of State for Petroleum Resources, Dr Ibe Kachikwu. NNPC’s Group Managing Director, Maikanti Baru, who announced this in…
South Africa proposes new oil, gas policy to enable growth
Regulation to be separate from mining sector’s, minister says Total made country’s first deep-water oil discovery this year South Africa is working on a policy to govern the development of oil and gas resources after calls by potential investors to shield the industry from a long-running debate over laws that apply to mining exploration. The…
I’m confident Kyari, new COOs ‘ll deliver —Baru
Encomiums have continued to pour in for the appointment of the new Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kolo Kyari. Leading the torrent of commendation is the Group Managing Director of the NNPC, Dr. Maikanti Baru, who described Kyari’s appointment as well as that of the new Chief Operating…