Hopes have been reignited that a 40-year treaty signed 17 years ago for a Joint Development Zone (JDZ) between Nigeria, and Sao Tome & Principe, may become economically viable going by the level of renewed efforts by the countries. Such efforts will lead to further review of the commercial viability of over 500 million barrels…
Shipments of West African oil to Asia are set to hit a two-month high in October as Chinese refineries scramble for alternatives to Iranian crude before U.S. sanctions take effect on Nov. 4. Other buyers across Asia and Europe have also said they would cut back on purchases of Iranian oil, unleashing a burst of…
AIM-listed Sirius Petroleum, the Nigeria-focused oil and gas development and production company, has decided, by mutual agreement with COSL, to abrogate its agreement with COSL for the supply of a jack-up rig for the drilling programme on the Ororo field, OML 95. Sirius has sourced and signed an agreement with Shelf Drilling to supply its Adriatic I jack-up rig which is scheduled…
Bonny7JV (B7JV), a UK-based joint venture led by KBR, JGC and TechnipFMC have awarded a $10 million contract to NDIC, a Nigerian-based consortium lead by Netco, DeltaAfrik, IESL and Crestech for design services. The signing took place recently in Lagos at the FMDQ OTC securities exchange. It would be recalled that B7JV was awarded an LNG FEED contract by…
The Managing Director, Nigeria Electricity Management Service (NEMSA), Engr. Peter Ewesor Thursday explained why some electricity meters were rejecting low voltage. Ewesor, who is the Chief Electrical Inspector of the Federation, said that the meters were programmed to reject low current in order to avoid damage to the appliances the current was supposed to power….
Nigeria’s oil and gas major, Techno Oil Ltd. has unveiled its TechnoGas LPG cylinders at the 31st World LPG Forum rounding off at Houston, Texas in the U.S. The unveiling of the cylinders formally makes Nigeria to join the big league of nations manufacturing LPG cylinders for export. No fewer than 1,500 participants drawn from…
Crude futures steadied on Friday after climbing to four-year highs earlier this week, and both Brent and U.S. crude marked weekly gains ahead of U.S. sanctions on Iranian oil exports. U.S. West Texas Intermediate (WTI) crude Futures rose 1 cent to settle at $74.34 a barrel. Global benchmark Brent crude futures for December delivery fell…
The Lagos Deep Offshore Logistics, LADOL, has accused its technical partner, Samsung Heavy Industries, SHI, of failure to transfer technology to Nigeria in the execution of the $3.1 billion Engina Total Floating, Production, Storage and Offloading, FPSO, vessel. The Egina FPSO project is managed by Total Upstream Nigeria Limited. Other contractual crime said to have been committed…
Port Harcourt — The Federal High Court in Port Harcourt has granted ex parte motion to the Ogoni Youth Federation, to summon the Coordinator of HYPREP, Dr. Marvin Dekil, before it over the management and administration of $10million initial grant released to the agency for Ogoni cleanup. The OYF had gone to court requesting an order…
A total growth of 12.2% in length is expected in the global oil and gas trunk pipelines industry by 2022, according to GlobalData, a leading data, and analytics company. The company’s latest report, ‘H2 2018 Global Length and Capital Expenditure Outlook for Oil and Gas Pipelines – US Leads with Highest New-Build Pipeline Length Additions’, reveals…
