Mordi Chukwunonso Esther Chief Timipre Sylva, Minister of State for Petroleum Resources, says almost 50 per cent of companies who won the bid for Nigeria’s 57 marginal oilfields have paid their signature bonuses. The News Agency of Nigeria (NAN) reports that Sylva spoke with newsmen on Tuesday after the First Quarter 2021 Ministerial Governance Meeting…
Mordi Chukwunonso Esther The Group Managing Director, The Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has said that Nigeria currently produces between 1.6 and1.7 million barrels of crude oil per day. The GMD disclosed this during an interview with Channels Television on Monday night. He also insisted that Nigeria has not breached OPEC quota,…
Daniel Terungwa The Ethiopian Minister of Water, Irrigation and Energy, Dr Sileshi Bekele, has said that African countries involvement in the tapping of energy resources and enhancing of regional cooperation and integration constitute major factors to attain Sustainable Development Goals (SDGs) in the energy sector by 2030. The minister’s remark came while addressing the recently…
Total and Shenergy Group, the leading energy player in Shanghai, have signed binding agreements for the supply of up to 1.4 million tons per annum of Liquefied Natural Gas (LNG) from Total, as well as the creation of a joint venture to expand LNG marketing in China. This was disclosed via a press release by Total on Tuesday. Total…
Daniel Terungwa The Nigerian Ports Authority (NPA) has announced the suspension of export receipts at the Lagos Ports Complex, the Tin Can Island Port and all satellite truck parks for two weeks. In a press statement signed by the Assistant General Manager Corporate and Strategic Communications Division, NPA, Mr Ibrahim Nasiru, the 14-day suspension…
…Project to create jobs for 1500 persons The 2500 barrels per modular refinery being established at Egbokor, Edo State by Duport Midstream Company Limited in partnership with the Nigerian Content Development and Monitoring Board (NCDMB) will be ready for commissioning in the last quarter of 2021. The Executive Secretary of the NCDMB, Engr. Simbi Kesiye Wabote visited the project…
Daniel Terungwa The Nigerian Maritime Administration and Safety Agency (NIMASA), has received the approval of President Muhammadu Buhari to disburse $2 million Cabotage Vessel Financing Fund (CVFF) to qualified indigenous maritime operators in line with the Treasury Single Account (TSA) policy and the CVGG Guidelines of 2006. The Cabotage Fund although established alongside the Nigerian…
By Ikenna Omeje Nigeria is set to benefit as global crude oil demand is set to rise to 104 million barrels per day by 2026, up 4 percent from 2019 levels, according to a report by the International Energy Agency (IEA). In Oil 2021, the IEA’s latest annual medium-term market report, the global energy watchdog said that…
Mordi Chukwunonso Esther The Department of Petroleum Resources (DPR) has identified six key areas of operational excellence for Nigeria’s oil and gas industry, urging Stakeholders to build a culture in these specific areas. Mr Sarki Auwalu, Director, DPR, disclosed this on Thursday, during his keynote address at the 2021 Oloibiri Lecture Series and Energy Forum (OLEF)….
By Ikenna Omeje The Court of Milan, Italy, has fully acquitted all charges against Eni – owner of the Nigerian Agip Oil Company (NAOC), its Chief Executive Officer and the top managers of the company over the transaction of the Nigeria’s Oil Prospecting Licence (OPL) 245. Eni and Shell have been on trial for allegedly…
