30-10-2014 23:52:00 | by: Default Admin User | hits: 4330315 | Tags:

Uganda- Tanzania oil pipeline to create 10,000 jobs
18-01-2017 | 07:10:00
Close to 10,000 jobs are set to be created following the three year construction of the crude oil pipeline that will run from Western Uganda to Tanga Port in Tanzania.
SDX Energy set to acquire Circle Oil’s Egypt and Morocco assets
17-01-2017 | 11:17:00
SDX Energy Inc revealed it has agreed to acquire the Egyptian and Moroccan assets of failed AIM firm Circle Oil. A non-binding heads of terms agreement has been signed, and it gives SDX 30 days exclusivity to finalise a deal.
[Nigeria] NNPC, Schlumberger Collaborate on Frontier Exploration
16-01-2017 | 09:21:00
The Nigerian National Petroleum Corporation, NNPC, has stepped up collaboration with the reputable multinational oil service company, Schlumberger, in the deployment of state-of-the-art technology in the ongoing search for commercial hydrocarbon deposits in the Chad basin and other parts of the inland sedimentary basins.
[Nigeria] NPDC Clarifies Oil Revenue Remittance to Federation Account
12-01-2017 | 10:45:00
The Nigerian Petroleum Development Company, NPDC, the upstream subsidiary Company of the Nigerian National Petroleum Corporation, NNPC, has provided clarification on the reported non-remittance of some crude oil revenue to the Federation Account.
Republic of Congo to receive USD250m Afreximbank support for oil fields strategic plan
12-01-2017 | 09:26:02
The African Export-Import Bank (Afreximbank) and the Government of the Republic of Congo yesterday in Cairo signed a facility agreement under which the Bank will provide $250 million in future flow pre-financing to meet the Government’s strategic plan for its oil fields.
[South Sudan] Government extends oil exploration agreement for three multinationals by five years
11-01-2017 | 10:20:06
The government of South Sudan through the Ministry of petroleum has extended the oil exploration and production licenses by five years for three multinational companies as it seeks to boost production.
[South Africa] Oil Trader Gunvor Suing Cerberus Over Failed Chevron Bid
10-01-2017 | 10:23:00
Oil trader Gunvor Group is suing Cerberus Capital Management, alleging that the private-equity firm is refusing to pay its share of costs incurred when the two companies made a failed $650 million bid for Chevron Corp. assets in South Africa.
Kenya considers producing oil from coal to cut imports
10-01-2017 | 10:14:00
Kenya is considering converting a portion of its coal deposits to oil as part of measures to cushion the economy from the volatile fuel import market.
Nigerian National Petroleum Corporation releases list of official oil suppliers for the year 2017/2018
06-01-2017 | 13:20:34
The Nigerian National Petroleum Corporation (NNPC), has released the names of 39 bidders for the sale and purchase of Nigerian crude for 2017/2018.
[Tanzania] Ophir Energy confirms timely completion of two exploration wells drilling
05-01-2017 | 10:10:31
London listed firm Ophir Energy, with its local venture partners BG Tanzania, Shell and Pavilion have announced the completion of drilling of two exploration wells offshore Tanzania well within set timelines.
[Nigeria] Oando PLC Completes $115.8mn Gas and Power Partial Divestment to Helios Investment Partners
03-01-2017 | 11:46:00
Indigenous energy group, Oando, has announced the completion of a partial divestment of 49% of the voting rights in Oando’s midstream business subsidiary, Oando Gas and Power Limited, to Glover Gas & Power B.V., a special purpose vehicle owned by Helios Investment Partner.
More revenue for Nigeria, others as oil production cut begins - OPEC
02-01-2017 | 12:34:00
The agreement by the oil producing nations to cut about 2 million barrels of crude oil off the market commenced yesterday giving hopes for commodity-reliant nations like Nigeria of more revenue in 2017.
Libya reopens two oil fields in exploration binge
23-12-2016 | 12:00:00
Libya’s National Oil Company (NOC) said it has reopened two oilfields this week, as it continues to recover oil production lost during the civil strife that followed the downfall of the country’s former dictator, Muammar Gaddafi, five years ago.
[Nigeria] Lagos residents benefit from NNPC/SNEPCo health outreach
20-12-2016 | 09:49:00
Thousands of residents in Nigeria’s commercial capital, Lagos, benefitted from a health outreach organised by the NNPC and Shell Nigeria Exploration Production Company (SNEPCo), which offered free medical services and education at strategic areas in the mega city.
[Nigeria] NNPC Proposes Revisions in Petroleum Industry Governance Bill
15-12-2016 | 09:09:06
The Nigerian National Petroleum Corporation, NNPC, on Wednesday outlined a detailed proposal to help the National Assembly fine-tune its deliberation on the draft Petroleum Industry Governance and Industrial Framework law, PIGIF which is currently before it for legislative action.
[Nigeria] SPDC boosts geology studies at Obafemi Awolowo University
12-12-2016 | 11:02:27
The Shell Petroleum Development Company of Nigeria Ltd (SPDC) Joint Venture has donated modern geophysical equipment, accessories and books to the Department of Geology, Obafemi Awolowo University, Ile-Ife to uplift research and study of geosciences at the institution.
Chongqing Construction Engineering, Oilserv, Tianjin Energy, Alpha Group sign MoAs to develop Nigeria’s Oil and Gas Infrastructure
12-12-2016 | 09:56:00
Four companies have signed eight MOAs today in Abuja for the development of several multi-billion dollar investment and infrastructure projects in Nigeria.
Tunisia unveils campaign to fight contraband fuel
09-12-2016 | 06:11:10
Distributors of petroleum products and petrol station owners have launched a campaign against contraband fuel in Tunisia.
Egypt Petroleum Company to receive $200m Afreximbank support for electricity generation and distribution expansion
08-12-2016 | 11:37:48
The African Export-Import Bank today in Cairo signed a $200-million loan facility agreement with the Egyptian General Petroleum Company (EGPC) to support the expansion of electricity generation and distribution in the country.
[Nigeria] NNPC and Total JV begin gas supply to Alaoji Power Plant
06-12-2016 | 11:24:00
The Nigerian National Petroleum Corporation (NNPC) and Total E&P Nigeria Limited (TEPNG) joint venture has begun gas supply to the Alaoji Power Plant owned by the Niger Delta Power Holding Company within the Eastern Grid Domestic Gas market
Nigeria and Morocco sign gas pipeline deal to link Africa to Europe
06-12-2016 | 10:54:00
Nigeria and Morocco have signed a joint venture to construct a gas pipeline that will connect the two nations as well as some other African countries to Europe, Nigeria's minister of foreign affairs said on Saturday.
[Mozambique] Fourteen companies express interest in natural gas project
30-11-2016 | 15:50:43
Fourteen companies have expressed interest in developing projects using natural gas from the Rovuma Basin in northern Mozambique.
[South Sudan] Government looks to non oil revenues to fund national budget
30-11-2016 | 15:28:47
The government of South Sudan has announced measures it says will seal gaps occasioned by drops in the production of oil resources.
[Egypt] BP acquires 10 per cent stake in Eni’s Shorouk offshore concession
29-11-2016 | 15:31:39
Integrated oil and gas company BP has bought a 10 per cent stake in Shorouk offshore concession located around the Mediterrarean Sea and owned by Italian company Eni, for $375 million. The stake includes the Zohr gas field estimated at 30 cubic feet.
[Nigeria] NNPC to Upgrade, Expand Kaduna Refineries
29-11-2016 | 08:50:00
The Nigerian National Petroleum Corporation (NNPC) has reiterated its commitment to the upgrade and expansion of the Kaduna Refining and Petrochemical Company Limited (KRPC) in line with the 12 key business focus areas of the Corporation’s present management.
African oil producers throw weight behind OPEC efforts to stabilize market
28-11-2016 | 11:28:33
The African Petroleum Producers' Association (APPA) has expressed their support to the Organization of Petroleum Exporting Countries (OPEC) efforts to stabilize the oil markets, ahead of the cartel meeting scheduled next Wednesday in Vienna to implement Algiers Agreement.
[Nigeria] Shell, Yemi Alade partner for bright energy ideas
28-11-2016 | 10:59:00
Nigeria music icon, Yemi Alade, has taken the lead in spreading Shell’s #makethefuture campaign which aims to inspire youths and entrepreneurs for bright energy ideas that can help in the global quest for more and cleaner energy.
[Morocco] Samir refinery costs BP $68 million in court fines
25-11-2016 | 12:30:55
Oil and gas multinational BP has been ordered to pay National Bank of Abu Dhabi over $68 million following the abrupt closure of SAMIR, Morocco’s sole refinery in August 2015.
Algeria records ballooning trade deficit as oil prices dip
23-11-2016 | 13:05:24
Algeria has continue to record a ballooning trade deficit occasioned by a drop in oil prices which has heralded economic problems for the North African country.
[Chad] Exxon Mobil Corp negotiating record $74 billion fine with government over royalties dispute
23-11-2016 | 12:58:08
World’s biggest oil producer by market value EXXON Mobil Corp is negotiating with Chad’s government about a record $74 billion fine the oil company was told to pay last month by a court in the Central African nation for a dispute over royalties.
[Nigeria] NNPC, Shell Sign MOUs with eight Nigerian Banks
21-11-2016 | 10:00:00
Shell Companies in Nigeria, supported by the NNPC, have signed an MoU with eight Nigerian banks under the refreshed Shell Contractors' Support Fund, the latest milestone in efforts to improve access to finance for Nigerian vendors and suppliers in the oil and gas industry.
[Nigeria] NNPC Moves to Improve Diesel Quality
21-11-2016 | 09:45:00
The Nigerian National Petroleum Corporation (NNPC) has commenced work on a scheme to improve the quality of diesel in the Nigerian market for efficient and optimal performance of diesel-powered engines.
SNEPCo donates modern test laboratory to Nigerian Institute of Welding
17-11-2016 | 10:54:11
Shell Nigeria Exploration and Production Company and it co-venturers (ExxonMobil, TOTAL and ENI) have donated facilities including a modern test laboratory to the Nigerian Institute of Welding (NIW) at Imasabor-Ologbo, Benin City,
International Finance Corporation expresses interest in funding Ethiopia Djibouti fuel pipeline project
14-11-2016 | 14:04:16
The International Finance Corporation, IFC, the investment arm of the World Bank has expressed interest in financing the planned Ethiopia Djibouti fuel pipeline project.
[Egypt] GE Oil& Gas in expansion spree to sate growing local and export appetite
08-11-2016 | 16:51:24
Oil and gas powerhouse GE Oil& Gas has announced an expansion of its services facility in Egypt with an additional 2,00 square metres in the industrial free zone bringing its space to 5,000 square metres.
[Nigeria] Shell donates N1b library to the Port Harcourt Literary Society
08-11-2016 | 10:12:00
A modern e-library donated by Shell to the Port Harcourt Literary Society has opened its doors to book lovers and other literary enthusiasts.
[Malawi] Energy Regulatory Authority revises fuel prices upwards causing jitters
08-11-2016 | 07:15:04
The Malawi Energy Regulatory Authority, MERA has revised the price of fuel upwards in a move that has been greeted by criticism by both businesses who cite the already higher fuel charges.
Libya Doubles Oil Production Since OPEC's Algeria Meeting
03-11-2016 | 12:00:00
Libya's National Oil Corporation spokesman has reported that the country's oil production rose to 670,000 bbl/day this week, up from the 363,000 bbl/day that the country produced when OPEC members representatives met in Algeria the last week of September.
[Cameroon] Victoria Oil and Gas launches development drilling at its gas fields
02-11-2016 | 14:50:07
Victoria Oil and Gas PL has spudded two development wells at its Logbaba gas field in Cameroon.
[Ethiopia] Total partners with Addis Ababa Institute of Technology to tackle waste oil
02-11-2016 | 11:26:58
Total Ethiopia has partnered with Addis Ababa Institute of Technology to tackle the indiscriminate handling, management and disposal of used oil, a major contaminant of the ecosystem. The first phase of the partnership will be though a recycling study.
Egypt, Iraq discuss joint cooperation in oil sector
01-11-2016 | 13:45:00
Minister of Petroleum and Mineral Resources Tarek el-Molla discussed, during an Iraq visit, with Iraqi Prime Minister Haider al-Abadi means of boosting joint cooperation in the fields of oil and natural gas and establishing an Egyptian-Iraqi partnership.
[Nigeria] Oando announces YTD September 2016 Results, posts N330bn top line revenue
01-11-2016 | 13:30:00
Nigerian indigenous energy group, Oando PLC, listed on both the Nigerian and Johannesburg Stock Exchange, today announced unaudited results for the six months period ended 30 September, 2016, with the following highlights:
Kenya, Sudan sign oil and mining pacts
01-11-2016 | 12:15:00
Kenya and Sudan have signed agreements to deepen collaboration in oil and mining industry. Hence, Kenya is poised to gain from the agreements as Sudan has made strides in both sectors.
[Nigeria] NNPC Seeks $51bn Investment in Gas Sector
01-11-2016 | 10:18:14
The Nigerian National Petroleum Corporation (NNPC) has said about $51 billion investment opportunities exist today in the midstream and downstream gas sector to achieve the growth phase in the Industry in Nigeria.
Egyptian General Petroleum Corporation signs agreement with Kuwait energy for gas field acquisition
31-10-2016 | 15:27:31
The Egyptian General Petroleum Corporation (EGPC) has signed a partnership agreement with Kuwait Energy for the Seba gas field located in southeast Basra, Iraq. The agreement stipulates that EGPC owns 15% of this field.
[Nigeria] ExxonMobil discovers one billion barrel oil field near Bayelsa
31-10-2016 | 12:00:00
ExxonMobil says it has made a “significant discovery” of oil off the coast of Nigeria. The oil find is located at the Owowo offshore field located in the southern Bayelsa State.
[Nigeria] Buhari Unveils Petroleum Roadmap, says Oil and Gas Critical for Nigeria's Growth
31-10-2016 | 10:38:00
President Muhummadu Buhari has unveiled Seven Big Wins, as part of short to medium term strategy framework with robust priorities to grow Nigeria's oil and gas sector.
[Algeria] Sonatrach Company expresses interest in Sudan oil and gas
27-10-2016 | 13:40:18
Sonatrach Company has said it is interested in investing in Sudan’s field of oil and gas.
[Nigeria] NIPCO Aquires 60 per cent of Mobil OIl
20-10-2016 | 10:32:28
Indigenous Nigerian downstream oil and gas firm, NIPCO Plc, yesterday acquired 60 per cent equity in Mobil Oil Nigeria (MON) Plc.
[Liberia] Exxon Mobil Corp to start oil exploration in November
19-10-2016 | 13:07:18
World’s largest publicly traded oil company Exxon Mobil Corp has set November as the month it will start drilling its first exploratory well off the coast of Liberia.
Mozambique government partners with French CGG Company in pursuit of oil and gas
19-10-2016 | 11:24:46
Mozambique's National Petroleum Institute (INP) has entered into an agreement with CGG, a French company for the collection of seismic data in three regions, two of which are offshore, to facilitate exploration for oil gas in the areas.
Tullow Seeks Truckers for Early Shipments of First Kenya Oil
18-10-2016 | 12:15:00
Tullow Oil Plc’s Kenyan unit said it’s seeking trucking companies to transport crude from northwestern fields to the port city of Mombasa as the East African nation rushes to export its first oil by mid-2017.
African firms SacOil and Nigdel end row over Nigeria licence
13-10-2016 | 12:45:00
South-Africa-based SacOil and Nigdel United Oil Company have dropped legal claims against each other over a licence in Nigeria.
Total Kenya appoints five members to its board
12-10-2016 | 11:44:35
Oil marketer Total Kenya has appointed five members to its board of directors bringing to three the number of independent directors that sits in its board.
[Nigeria] NNPC, Shell Award Scholarship to 110 Students
11-10-2016 | 11:38:00
In furtherance of its commitment to providing quality education for indigent students within the country, the Nigeria National Petroleum Corporation (NNPC) and Shell Nigeria Exploration and Production Company Limited (SNEPCo) have awarded scholarship to 110 secondary school students.
Peter Costello Succeeds Markus Droll as Shell VP for Nigeria, Gabon
10-10-2016 | 11:12:00
Shell has appointed Peter Costello to succeed Markus Droll as the company’s Vice President for Nigeria and Gabon. He will assume a new role of Executive Vice President, Projects in Shell International based in Rijswijk, The Netherlands.
[Kenya] Hashi Energy ventures into food supplies through $140 million deal with SS Lootah
07-10-2016 | 08:18:00
Oil industry player Hashi Energy has entered into a $140 million deal SS Lootah, a Dubai venture firm allowing it to move into the supply of food to the military and non-governmental institutions in the Democratic Republic of Congo.
[Nigeria] Oil Firms to Increase Spending in 2017
04-10-2016 | 12:26:01
The oil industry appears to be ready to open its wallet after two years of slashing investments, BMI Research, a Fitch rating company said. This came on the hopes raised in the global market over Organisation of Petroleum Exporting Countries, OPEC, group reaching an accord last week on production cut back to boost revenue.
PETAN Announces Details of Inaugural WAIPEC to Launch in February 2017
04-10-2016 | 10:01:00
The Petroleum Technology Association of Nigeria (PETAN) has announced the launch of the inaugural West African International Petroleum Exhibition and Conference (WAIPEC) taking place 21-23rd February 2017 at the Eko Convention Centre, Lagos, Nigeria.
BP signs agreements for Egypt field developments
03-10-2016 | 11:26:00
BP has revealed that it had signed three concession amendments with Egypt allowing the company to develop the Nooros play.
Egypt Announces Progress on Cuts to Costly Fuel Subsidies
29-09-2016 | 13:09:00
Two years after launching a concerted effort to sharply reduce subsidy programs that had proven unsustainable to the country’s government, Egypt has announced significant progress in the reduction effort, reporting a 28.7% drop in spending during the 2015-2016 fiscal year.
[Nigeria] Heyden Oil and Gas Expands Downstream Chain with over N10billion
27-09-2016 | 10:08:00
Indigenous oil firm, Heyden Oil and Gas has announced over N10billion investment in its downstream retail chain, which involved acquiring and rebranding 40 filling stations in Lagos, bringing to 50, the total number of outlets in Lagos and Ogun states owned by the firm.
Vivo Energy Kenya unveils largest diesel storage facility by oil marketer in the country
23-09-2016 | 08:35:12
Oil marketer Vivo Energy Kenya has opened the largest diesel storage capacity by any one oil marketer in the country as it seeks to support the growing retail business.
Ahead of OPEC Meeting, Libya Ups Oil Output by 70%
22-09-2016 | 12:29:00
Libya has achieved the unthinkable: oil production in the war-torn country is actually up substantially in recent weeks, as some idled oil fields came back into operation.
Egypt to Begin $10B Privatization Plan with Oil Firms
22-09-2016 | 11:10:32
Egypt is set to launch its initial public offerings in government-owned companies with oil sector businesses, aiming to collect up to $10 billion dollars within three to five years, the minister of investment said.
Eni successfully restarts exploration activities in Tunisia
21-09-2016 | 14:25:23
Eni has successfully resumed exploration activities onshore Tunisia in the Sahara desert, approximately 700 kilometers south of Tunis. Eni has just completed operations on the discovery well Laarich East-1, located in the MLD (Makhrouga-Laarich-Debbech) license, where Eni owns a 50% stake and the Tunisian state company ETAP the remaining 50%.
Oando PLC Signs $115.8 Million Midstream Agreement With Helios Investment Partners
21-09-2016 | 13:57:00
Oando PLC, Nigeria’s leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, has announced the execution of a definitive agreement with a vehicle owned by funds advised by Helios Investment Partners LLP, a premier Africa-focused private investment firm, to acquire 49% of the voting rights in Oando’s midstream business subsidiary, Oando Gas and Power Limited.
[Nigeria] Oando signs USD115.8m mainstream agreement with Helios Investment Partners
20-09-2016 | 12:30:00
Oando has announced the execution of a definitive agreement with a vehicle owned by funds advised by Helios Investment Partners to acquire 49% of the voting rights in Oando’s midstream business subsidiary, Oando Gas and Power Limited
[Tanzania] Shell sets eyes on oil exploration
20-09-2016 | 09:26:47
Shell has announced plans to start oil exploration in Tanzania in the course of this year. According to its partner Ophir Energy, the program will cost $20 million and will comprise two wells on Blocks 1 and 4
Star Oil partners Zeepay Ghana to make fuel payments digital
15-09-2016 | 14:19:00
Star Oil, a leading local Oil Marketing Company with over 163 petrol stations partners with Zeepay, the fastest growing Mobile Financial Services Company to issue contactless fuel cards and offer Mobile Money Services to over 10million consumers.
Exxon set to Load First Nigerian Qua Iboe Oil Since July Force Majeure
15-09-2016 | 10:15:00
For the first time since ExxonMobil declared force majeure on Nigeria’s Qua Iboe oil exports in July, the U.S. oil company is offering Qua Iboe crude cargo for October loading.
Puma Delivers first cargo of Bitumen to Nigeria
08-09-2016 | 12:34:00
Puma Energy delivered its first cargo of bitumen to its terminal located in Calabar, South East, Nigeria. The cargo was delivered under JV with WABECO Petroleum Ltd, registered as P.E. Bitumen Resources (Nigeria) Limited.
Cyprus and Egypt sign agreement for the transport of natural gas
08-09-2016 | 11:04:26
On Wednesday, the 31st of August 2016, an agreement was signed between Cyprus and Egypt which sets out the legal framework allowing companies to commence discussions on the transport of natural gas from Cyprus to Egypt via a sub-sea pipeline.
OPEC Supports Nigeria’s Diversification Agenda
05-09-2016 | 11:31:00
Secretary-General of Organisation of Petroleum Exporting Countries (OPEC), Mohammad Sanusi Barkindo, has declared his support for Nigeria’s ongoing efforts to diversify the economy and expanding the agricultural sector.
Shell to Reopen Oil Pipeline in Nigeria; Finds Gas in Egypt
05-09-2016 | 10:27:00
According to reports published by Bloomberg, integrated energy major Royal Dutch Shell plc RDS.A expects its Forcados oil pipeline in Nigeria to restart deliveries in mid-September.
Egypt enters into gas deal with Cyprus to bolster local supply
02-09-2016 | 12:48:13
Egypt has entered into a partnership with Cyprus for transportation of gas from the exclusive economic zone, EEZ, in Cyprus to LNG terminals in Egypt as Egypt looks to bolster domestic demand in its power stations.
Uganda issues oil licenses to Tullow Oil and Total to speed production
02-09-2016 | 12:21:00
The government of Uganda has granted Tullow and Total five and three oil production licenses respectively as it seeks to speed the exploration and production of crude oil.
[Nigeria] SPDC JV trains more youths on power plant operations
01-09-2016 | 12:08:00
The Shell Petroleum Development Company (SPDC) operated Joint Venture has trained 15 engineering graduates from host communities of the Afam VI Power Plant at Oyigbo in Rivers State on the operation and maintenance of combined cycle power plants.
Tanzania mulls setting up oil trading hub to serve East and Central Africa
31-08-2016 | 11:56:01
The government of Tanzania is exploring the possibility of setting up an oil trading hub in Tanga, the north sea port city with a view to supplying fuel to East and Central Africa.
Total Uganda unveils new unleaded fuel
26-08-2016 | 06:52:23
Oil marketer Total Uganda has introduced a new brand of petrol and diesel gas it says has lasting protection on car engines
DRC Shows Interest as Uganda-Tanga Port Oil Pipeline Preps in Top Gear
25-08-2016 | 10:37:00
As the Vice-President of Total East Africa, Mr Javier Rielo, assured President John Magufuli that preparations for the construction of the 1,410-kilometre oil pipeline from Lake Albert in Uganda to Tanga Port in Tanzania are in good progress, DRC has shown interest in using the facility.
Kenya to start exporting oil by mid 2017
24-08-2016 | 14:25:53
Kenya has set June 2017 as the month it will start exporting oil with oil and gas exploration company Tullow Oil confirming that it will start oil production in March next year.
[Nigeria] NNPC, Benue Renew Partnership on Ethanol Project
17-08-2016 | 10:11:00
The Nigerian National Petroleum Corporation (NNPC) and the Benue State Government (BNSG) have pledged to deepen their collaboration on the Ethanol project which is geared towards production of biofuels for energy sufficiency.
SNEPCo breaks new ground with in-country Subsea Tree refurbishment project
16-08-2016 | 14:30:00
Shell Nigeria Exploration and Production Company (SNEPCo) achieved significant savings in the cost of subsea equipment through an initiative which has seen the refurbishment of five Subsea Trees in-country led by Nigerian engineers.
[Nigeria] SNEPCo breaks new ground with in-country Subsea Tree refurbishment project
15-08-2016 | 10:36:00
Shell Nigeria Exploration and Production Company (SNEPCo) achieved significant savings in the cost of subsea equipment through an initiative which has seen the refurbishment of five Subsea Trees in-country led by Nigerian engineers.
India, Spain, Netherlands Buy 43 Percent of Nigeria's Crude Oil - NNPC
12-08-2016 | 11:36:00
India, Spain and The Netherlands have emerged biggest buyers of Nigeria's crude oil over a 12-month period, from June 2015 to May 2016, according to a document obtained, yesterday, from the Nigerian National Petroleum Corporation, NNPC.
Transcorp delays $1 billion power project over gas shortage in Nigeria
09-08-2016 | 11:40:00
Transnational Corp. of Nigeria Plc suspended plans to build one of the nation’s biggest power plants as a local gas shortage makes it difficult to obtain fuel and a downturn in Africa’s largest economy hinders efforts to raise funds for the project, Bloomberg reports.
Nigeria, Spain Pledge to Strengthen Trade Ties in Oil and Gas
09-08-2016 | 11:04:00
Nigeria and Spain have expressed their readiness to strengthen their bilateral trade relationship in every spectrum of the Oil and Gas Industry for the benefit of the two countries.
[Nigeria] Shell emerges Best Exhibitor at 2016 SPE conference
08-08-2016 | 10:32:00
Shell Companies in Nigeria (SCIN) have emerged Best Exhibitor at the 2016 Nigeria Annual International Conference and Exhibition (NAICE) of the Society of Petroleum Engineers (SPE) which was held in Lagos August 2 -4.
[Uganda] Petroleum directorate announces four new firms in oil exploration bid
03-08-2016 | 14:05:19
Four firms that had bided to carry out exploration and production of oil in key oil blocks in Uganda have received a nod from The Petroleum Directorate, of the Ministry of energy.
President Buhari orders NNPC to intensify oil search in North East Nigeria
26-07-2016 | 10:11:00
President Muhammadu Buhari has ordered for intense search for hydrocarbon prospects in Chad Basin and the North Eastern part of Nigeria.
Nigeria Launches $100 Million Oil Fund
21-07-2016 | 10:45:00
Nigeria’s government has launched a special fund worth US$100 million to take care of securing the credit that the oil industry of the country needs
[Nigeria] Oando announces earnings guidance for H2 2016
19-07-2016 | 11:21:00
Oando expects to report materially lower earnings for the second quarter of 2016 due to the impact of the Naira devaluation against the US dollar (“USD”), resulting in unrealized foreign exchange losses.
Nigeria LNG appoints Tony Attah new CEO and Managing Director
15-07-2016 | 10:32:00
Nigeria LNG, operator of the giant Bonny export plant, said it has appointed Tony Attah as new managing director and CEO.Attah will take over from Babs Omotowa, who has been at the helm of the LNG operator since December 2011.
OPEC Sees Brexit Risk to Oil Demand, Slide in Non-OPEC Supply
14-07-2016 | 12:06:00
OPEC said the U.K.’s vote to leave the European Union could curb global economic growth next year, notably in Europe, where the risk is that demand for oil could fall.
OPEC oil production on the rise again, Nigeria sees largest increase in June
14-07-2016 | 10:49:00
The Organization of Petroleum Exporting Countries produced nearly 32.9 million barrels of oil a day in June, according to its monthly statistical bulletin.
Nigeria’s Oil Production Hits 1.9million Barrels Daily
13-07-2016 | 11:33:00
Nigeria’s oil production capacity now stands at about 1.9 million barrels per day, the Minister of Petroleum Resources, Mr. Emmanuel Ibe Kachikwu said last week.
[Nigeria] Dr. Maikanti Kacalla Baru takes over as GMD of NNPC
12-07-2016 | 14:22:00
Baru unfolded his 12-point agenda to include: Creating an all-inclusive internal advisory council on security comprising representatives from NNPC, the IOCs, the Unions and Security Operatives to brainstorm and address host community agitations to complement efforts of the Government Security Team.
Oando concludes recapitalization in its downstream operations to a consortium of Helios and Vitol
11-07-2016 | 09:32:00
Oando, Nigeria’s indigenous energy group has announced a $210 million recapitalization of its downstream operations by HV Investments II B.V., (“HVI”), a joint venture owned by Helios Investment Partners and the Vitol Group, (together, the “Consortium”).