The Nigerian National Petroleum Corporation (NNPC) has announced a trading surplus of ₦13.23billion in October 2019, representing an increase of 54 percent vis-à-vis the ₦8.59billion surplus posted in September last year. The NNPC, in a release signed by its Acting Group General Manager, Group Public Affairs Division, Mr. Samson Makoji, explained that the figures contained…
LEKOIL, the oil and gas exploration and production company with a focus on Nigeria and West Africa has secured $184m to finance the appraisal drilling and initial development programme activities on the Ogo field within OPL 310. In a statement sent to The Daily, the company stated: “Lekoil 310 Limited, a wholly owned subsidiary of…
The Minister of State for Petroleum Resources, Chief Timipre Sylva, has stated that the Petroleum Industry Bill will be passed in mid-2020.In a statement made available to the News Agency of Nigeria, he stated: “We thank every Nigerian, all our key stakeholders, heads of agencies of the ministry: Nigerian National Petroleum Corporation, Department of Petroleum…
Dr Akinwumi A. Adesina On Dec 2, 2019 Vice Chancellor, Registrar, Members of the University Council, Members of the Senate, Deans of Faculties, Senior Officers of the university, lecturers, parents, families and friends of the students, and most importantly, the great students of Bowen University! Congratulations to you all on the 13th convocation ceremony of…
Nigeria’s power sector lost about N13 billion in seven days, due to constraints arising from insufficient gas supply, distribution and transmission infrastructure, according to statistics from the advisory power team, office of the Vice President. The revenue loss covered a seven day period; December 21 to 27, 2019 with the dominant constraint being unavailability of gas…
As part of efforts to reduce the country’s oil production cost, the Nigerian Content Development and Monitoring Board (NCDMB) has announced plans to facilitate the establishment of an oil and gas logistics base in Brass, Bayelsa State. Executive Secretary of NCDMB, Mr.Simbi Wabote, made the disclosure during the inauguration of a modular science laboratory to Model…
…says 40% of marine vessels owned by Nigeria The Nigerian Content Development and Monitoring Board, (NCDMB) says it target over 300,000 direct jobs in its 10 years development plans just as it disclosed that 40 percent of Vessels operating currently offshore are owned by Nigerians. According to the agency, 10 years from now, it is…
The Nigerian Content Development and Monitoring Board ( NCDMB), says it will partner Waltersmith Petroleum Ltd. to construct a modular refinery in Brass Island in Bayelsa. The Executive Secretary of the board, Mr Simbi Wabote disclosed this in a statement issued by the Board’s Management in Abuja on Thursday. He spoke at the commissioning of…
Nigeria LNG Limited (NLNG) today in Abuja took the Final Investment Decision (FID) for its Train 7 Project, which will increase its production by 35 per cent and its competitiveness in the global LNG market. The company in a statement on Friday said the decision allows the expansion to increase the capacity of NLNG’s six-train…
The Office of the Auditor-General of the Federation (OAuGF) has bemoaned the delay in the review of laws guiding activities in the country’s oil and gas industry, noting that these obsolete laws are undermining the revenue-generating capacity of the Department of Petroleum Resources, DPR. In its Annual Report on the Accounts of the Federation of…
