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.
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.
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 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.
[Nigeria] Oando PLC Completes $115.8mn Gas and Power Partial Divestment to Helios Investment Partners
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.
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.
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.
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.
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
Four companies have signed eight MOAs today in Abuja for the development of several multi-billion dollar investment and infrastructure projects in Nigeria.
Egypt Petroleum Company to receive $200m Afreximbank support for electricity generation and distribution expansion
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.
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
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.
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.
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.
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.
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,
A modern e-library donated by Shell to the Port Harcourt Literary Society has opened its doors to book lovers and other literary enthusiasts.
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.
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.
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:
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.
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.
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.
Indigenous Nigerian downstream oil and gas firm, NIPCO Plc, yesterday acquired 60 per cent equity in Mobil Oil Nigeria (MON) Plc.
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.
South-Africa-based SacOil and Nigdel United Oil Company have dropped legal claims against each other over a licence in Nigeria.
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.
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.
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.
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 has revealed that it had signed three concession amendments with Egypt allowing the company to develop the Nooros play.
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.
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.
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 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.
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
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.
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 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.
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.
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.
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.
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.
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.
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 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.
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 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’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 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 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.
The Organization of Petroleum Exporting Countries produced nearly 32.9 million barrels of oil a day in June, according to its monthly statistical bulletin.
Essar Energy Overseas Limited has announced that it will sell its entire 50 percent stake in Kenya Petroleum Refineries Ltd (KPRL) to the Government of Kenya (GoK).
Shell Companies in Nigeria spent a total of $195.5 million on social investments in the country in 2015, making Nigeria the largest concentration of social investment spending in the Shell Group.
Sasol’s field development plan (FDP) for the Production Sharing Agreement (PSA) licence in Inhambane province, Mozambique, has reached an important milestone with the commencement of the drilling of the first well.
The Petroleum Technology Association of Nigeria (PETAN), a foremost association of indigenous service companies has commended the pioneering role of Shell in the development of Nigerian content in the oil industry.
Technical investigation of the condition of the turret bearing on the FPSO Kwame Nkrumah has confirmed that the bearing has been damaged and is no longer able to rotate as originally designed.
The Shell Petroleum Development Company of Nigeria Ltd (SPDC) Joint Venture is producing more gas from Agbada field in the Eastern Niger Delta in support of government’s aspiration of increasing domestic gas production for manufacturing and power generation.
In line with today’s turbulent market landscape especially in the Oil and Gas industry, leading Communications Services Company, MainOne has urged forward-looking enterprises to gain competitive advantage by embracing digital transformation.
Willem Vis is Dutch entrepreneur, innovator and founder of Induct Industrial Contracting, located in Katwijk near The Hague,The Netherlands, but with operations reaching as far as Africa. His interview with Africa Business Communities:
An indigenous company, Integrated Oil and Gas Ltd., has been given initial license to commence preliminary work for a 20,000 capacity modular refinery in one of the islands on the coast of Lagos.
The Nigerian National Petroleum Corporation (NNPC) has unveiled plans to build a mega station in every Senatorial district of the nation, thus upping its market share in the fuel retail business from the current 12 per cent to a significantly higher number.
Eni has started production from the Mpungi field in the West Hub Development Project, within Block 15/06 of the Angolan Deep Offshore, approximately 350 kilometres northwest of Luanda and 130 kilometres west of Soyo.
Music star Akon joined Shell to shine a light on the power of innovative options for access to smarter energy by unveiling Africa’s first human and solar powered football pitch at the Federal College of Education, Akoka, Lagos.
Nigeria and Angola on Saturday agreed to cooperate and also reach out to other oil producing countries in an effort to shore up the dwindling price of oil in the global market.
The Federal Government has expressed its readiness to raise funds from international investors and the private sector in 2016 to fund the Joint Venture cash calls between the Nigerian National Petroleum Corporation (NNPC) and International Oil Companies operating in the country.
The Afam VI Power Plant in Rivers State has been recognised and rewarded by the United Nations for reducing carbon emissions through environmentally friendly operations.
The youths from the four local government areas in Ogoniland - Tai, Khana, Gokana and Eleme - received the four-week training at the Songhai Farm at Bunu-Tai, where they learnt vital skills in fishery, cassava production and poultry farming.
Shell companies in Nigeria have emerged the best in Corporate Social Responsibility Innovation, and also the best in Sustainable Stakeholder Engagement at the 2015 edition of the Social Enterprise Report and Awards (SERAs) held in Lagos on Friday.
Eni signed with the Egyptian Government three amendments for the IEOC concessions of "Sinai 12 and Abu Madi", "North Port Said" and "Baltim", which is in partnership with BP, and signed one new Concession Agreement, "Ashrafi", in partnership with ENGIE.
The Nigerian National Petroleum Corporation, NNPC, has assured that it has enough volume of petrol in stock to satisfy the nation’s domestic consumption requirement.
SNEPCo will provide 2,5000 clean cookstoves and 15,000 canisters for distribution to households in Lagos while PGPL will ensure the supply of Ethanol fuel blended with methanol during the one-year study.
Eni, together with Statoil, Sasol and ENH, have been awarded a new exploration block in the offshore of Mozambique
Eni, together with Statoil, Sasol and ENH, have been awarded, following the 5th Competitive Mozambique Bid Round, the exploration and development rights of the offshore block A5-A, in the area of Mozambique named Angoche, about 1,500 kilometers northeast of the capital city Maputo.
The Nigerian National Petroleum Corporation, NNPC, on Sunday, November 1, announced that it had paid N790.75 billion into the Federation Account between January and September.
The Federal Government has reached an agreement with Ghana on the modalities to settle the outstanding N33.8bn owed by the Volta River Authority (VRA) on gas supplied for power generation by a Nigerian company, N-Gaz.
Tullow Oil plc is pleased to announce that it has reached agreement with the Government of Gabon over its licences in the Onal Complex Fields.
Nigeria produced 445 million barrels of crude oil and condensates from January to July 2015, a monthly report of the activities of the Nigerian National Petroleum Corporation (NNPC) has shown.
Tullow Oil plc (Tullow) and its lending banks have completed the routine six-monthly Reserve Based Lend (RBL) redetermination process and available debt capacity remains unchanged at US$3.7 billion.
Kolawole Akinmuyiwa is Managing Partner and Business Developer of oil and gas company, Throttle Energy, Texas, USA. His interview with Africa Business Communities:
Kentebe meets Shell, Statoil, Oando Energy Resources and GE Oil & Gas to Discuss Nigerian Content and Wealth Creation
Over the last five years, the Nigerian Oil and Gas Industry Content Development Act (NOGICDA) has arguably been the single most impactful piece of legislation for the Nigerian oil and gas industry since the Petroleum Act of 1969.
Indigenous oil company, Conoil Nigeria plc has posted N359.41 million profit in the first six months of 2015 even as fuel marketers in Africa’s largest economy continue to struggle with unpaid government debts.
Centurion Law Group is continuing its pan-African expansion with the opening of an office in Cameroon this month. The group will set up operations in Douala, Cameroon’s largest city and the wealthiest business hub in Central Africa.
Lekki Free Trade Zone (LTZ), Medical Park, Transportation, Agriculture, Manufacturing, Oil and Gas, Power, Shopping Mall, Power generation, International Airport, among others have been identified as some of the immediate key investment opportunity areas available in Lagos State for investors to tap into.
President Muhammadu Buhari is set to head the Ministry of Petroleum for 18 months before appointing a substantive minister for the ministry, The Punch reports.