PETAN Anticipates PIA’s Positive Impact on Nigeria’s Oil Bidding Round. The Petroleum Technology Association of Nigeria (PETAN) is optimistic about the forthcoming oil bidding round in Nigeria, foreseeing enhanced success due to the implementation of the Petroleum Industry Act (PIA). Mr. Wole Ogunsanya, PETAN’s Chairman, shared this perspective during the Offshore Technology Conference (OTC) in…
NNPC E&P, NOSL Hit First Oil in OML 13 Akwa Ibom State. The announcement of first oil production at Oil Mining Lease (OML) 13 in Akwa Ibom State, Nigeria, marks a significant milestone for NNPC Exploration and Production Limited (NNPC E&P) and Natural Oilfield Services Limited (NOSL). Commencing on May 6th, 2024, with an initial…
NIMASA to automate ship registry as stakeholders decry $1trn loss to non-disbursement of CVFF. In a landmark engagement with maritime stakeholders in Lagos, Mr. Mobereola, the Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), laid out a bold vision for the future of the maritime industry, emphasizing the need for progress and alignment…
Stop electricity subsidy, IMF tells FG The International Monetary Fund (IMF) has issued a stark warning to the Nigerian government, urging the removal of what it terms as implicit subsidies on fuel and electricity. In a recent report published by the IMF, the organization cautioned Nigeria that these subsidies are projected to consume three percent…
CBN Appoints Pre-Shipment Monitoring Agents for Oil and Gas Exports In a significant development aimed at bolstering oversight in Nigeria’s oil and gas export sector, the Central Bank of Nigeria (CBN) has appointed pre-shipment monitoring and evaluation agents across the country. According to a circular, TED/FEM/PUB/FPC/OO1/014, dated May 13, 2024, issued by Dr. Hassan Mahmud,…
Nigerian Navy Deploys Eight Warships to Combat Sea Piracy in Gulf of Guinea. In a bid to tackle the persistent challenge of sea piracy in the Gulf of Guinea (GoG), Nigeria has deployed eight elite Navy warships to join a global joint naval operation. The announcement was made by Nigeria’s Chief of Naval Staff, Vice…
Tinubu commissions Funtua Inland Dry Port to support economic diversification. President Bola Ahmed Tinubu, represented by Senator George Akume, presided over the official commissioning of the Funtua Inland Dry Port in Katsina State on Thursday. The ceremony marked a significant milestone in Nigeria’s economic development, with the port expected to play a pivotal role in…
President Tinubu Appoints Minister Ekpo as Co-Chairman of NCDMB Governing Council. In a move aimed at enhancing efficiency and oversight in Nigeria’s oil and gas sector, President Bola Tinubu has appointed Mr. Ekperikpe Ekpo, the Minister of State for Petroleum Resources (Gas), as the Co-Chairman of the Governing Council of the Nigerian Content Development…
Expert Encourages FG to Establish Enabling Environment for Oil and Gas Investment. Mr. Usman Mohammed, the Chief Executive Officer of New Energy Services Company Ltd., said, “The market is not waiting for Nigeria, hence contract projections, especially revenue are mostly impacted due to delays in the series of layers involved in approval processes.” He added,…
Ubah Urges FG to Prioritize Modular Refineries to Address Fuel Scarcity Senator Ifeanyi Ubah, Chairman of the Senate Committee on Petroleum (Downstream), has urged the Federal Government to prioritize the development of modular refineries as a key strategy for addressing Nigeria’s fuel scarcity challenges. Speaking at the ongoing Offshore Technology Conference in Houston, Texas, U.S.,…
