Nigerian Content Development Management Board, NCDMB, yesterday, stated that it would not be deterred by the antics of oil and gas companies trying to sabotage local content initiative of the Federal Government. Cyril Odu, Executive Vice Chairman, Mobil Producing Nigeria (left) and Engr. Ernest Nwapa, Exec. Secretary of the Nigerian Content Development Monitoring Board (NCDMB),…
… FG to extend project beyond N/Delta The Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu on Friday performed the ground-breaking of the Nigerian Oil and Gas Park being developed by the Nigerian Content Development and Monitoring Board (NCDMB) at Emeyal-1, Ogbia Local Government Area of Bayelsa State. The park will generate about…
The Nigerian Content Development and Monitoring Board (NCDMB) has begun the construction of the Nigerian Oil and Gas Park at Odukpani, Cross River State, with the goal of creating a regional low-cost manufacturing hub that would produce equipment components and spare parts that would be utilized in the Nigerian Oil and Gas industry. The Odukpani…
President Muhammadu Buhari is set to inaugurate General Electric’s (GE) $250 million manufacturing plant in Calabar, the Cross River State capital, which is billed to be ready in the third quarter of this year. This aligns with Nigeria’s infrastructure needs and will contribute to economic development, especially in the oil & gas, power and transportation…
With effect from June this year, the Nigerian Content Development and Monitoring Board (NCDMB) will begin third forensic audit of all unremitted deductions by oil and gas companies meant for the Nigerian Content Development Fund (NCDF). The impending exercise was announced by the Executive Secretary of NCDMB, Engr. Simbi Wabote at the two-day Stakeholders Sensitization…
…Minister targets $1bn The Nigerian Content Development and Monitoring Board (NCDMB) and the Bank of Industry (BOI) on Thursday in Abuja launched the 200 million dollars Nigerian Content Intervention Fund (NCI Fund). The pool of funds will provide loans to Nigerian companies involved in manufacturing in the oil and gas industry as well as firms…
Equatorial Guinea’s government officially announces the 2019 Year of Energy initiative, tying together landmark energy projects and a series of Africa-focused events. The Ministry of Mines and Hydrocarbons is working in partnership with Africa Oil & Power to organize the series of conferences. Three key events will take place: the Equatorial Guinea Gas Summit, the…
Safely figuring out how to buy crude oil from Nigeria is one of the most daunting tasks crude oil buyers from many parts of the world face. The Nigerian market is highly volatile, too many people masquerade themselves as crude oil sellers, and after a long series of engagements, both the crude oil buyer and…
Norway’s Bergen Group has entered into an agreement with its compatriot oil service company Endúr Fabricom for a merger between the two companies. Bergen Group, an industrial group based in the western part of Norway, is a supplier of products and services to the areas of energy & industry, maritime, defense, access technology & services…
Yinka Folawiyo Petroleum has received consent from the Nigerian Minister of Petroleum Resources for the renewal of the OML 113 license. MX Oil said on Friday that Yinka Folawiyo Petroleum was granted the renewal for another term of 20 years. According to the company, which has an investment in the license, the renewal is subject to…
