Oil prices rose on Tuesday after U.S. President Donald Trump predicted a trade deal with China following positive comments by Beijing, calming concerns raised by an earlier round of tit-for-tat tariff hikes. Brent crude LCOc1 was up 39 cents, or 0.7 per cent, at $59.09 a barrel by 1220 GMT, after falling one per cent…
Nigeria Agip Oil Company(NAOC), an affiliate of Italian oil giant, Eni, says it has discovered a significant quantity of gas and condensate in the Obiafu-Obrikom fields in Oil Mining Lease, (OML) 61, onshore Niger Delta. In a statement in Abuja on Tuesday, the company said the gas and condensates were discovered in the deeper sequences…
The Department of Petroleum Resources (DPR) has launched a device, Digital Seraphin Can, to help ensure accuracy in dispensing of petroleum products across the country. Mr Sadiu Abubakar, the DPR Head of Public Affairs, Abuja, who led some journalists on monitoring of some sealed filling station in Abuja on Tuesday, said the device was one…
The Infrastructure Concession Regulatory Commission (ICRC) says it has partnered with the Nigerian Electricity Management Services Agency (NEMSA) toward reviving its moribund transformer repairs and testing workshop in Ijora Olopa area of Lagos State. Mr Chidi Izuwah, ICRC Director-General, who made this known during a facility tour to the workshop on Tuesday, said it would…
Total Exploration and Production Nigeria, yesterday, disclosed that it has significantly invested in the development of infrastructure in the petroleum industry to enable it boost domestic gas supply by 300 million standard cubic feet. Speaking during a visit to the Group Managing Director of the Nigerian National Petroleum Corporation, Managing Director/Chief Executive Officer of…
Equatorial Guinea’s Ministry of Mines and Hydrocarbons (MMH) is pleased to announce that U.S. oil and gas company Noble Energy has made a discovery in offshore Block I MALABO, Equatorial Guinea, August 27, 2019/ — Noble Energy makes oil discovery in Block I, located in Equatorial Guinea’s offshore sector; The well was drilled to…
Upgrade of three GE’s LM6000PA and one LM6000PC Aero derivative gas turbines Improved Plant Efficiency and Reliability DAR ES SALAAM, Tanzania, August 27, 2019/ — Songas Ubungo Power Plant provides more than 20 percent of the grid connected power in Tanzania; upgrade of three GE’s LM6000PA and one LM6000PC Aero derivative gas turbines Improved Plant…
Some stakeholders in the power sector have called on the Federal Government to fulfill its 40 per cent funding to electricity distribution companies (DISCOS) to enable them function effectively. The stakeholders made the call in interviews with the following reports that government was considering repossession of the 10 DISCOS as one of the options to…
Globally competitive fiscal policy, a robust legal framework and a healthy contract integrity culture has been identified as panacea and key drivers to profitability and attracting huge Investments in the oil and gas sector. This as ExxonMobil attributed its landmark achievements in the Nigerian oil and gas sector to the Nigerian National Petroleum Corporation (NNPC),…
Stakeholders have decried recalcitrant challenges undermining Nigeria’s efforts to boost electricity supply through gas. The nation’s enormous gas reserves, estimated at 187 trillion standard cubic feet, are grossly under-utilized in the gas to power value chain. Operators in the electricity sub-sector stated this, at a conference in Lagos. The event tagged “Harnessing oil and Gas…
