The Management of the Nigerian National Petroleum Corporation is executing a major restructuring of its corporate governance framework to engender an accountable and fraud repellent system across its value chain.
Nigerian National Petroleum Corporation and Chevron Nigeria Limited have executed the second and final phase of an Alternative Financing Agreement that would increase crude oil production in the country by about 39,000 barrels per day.
To improve performance and visibility into plant and turbine operations, GE’s Power Services business has signed an agreement with Azito Energie S.A. to upgrade two gas turbines at the company’s combined-cycle power plant.
The Nigerian National Petroleum Corporation (NNPC) has pledged to promote the development and commercialization of home-grown technology in collaboration with the Nigerian Content Development and Monitoring Board.
The Nigerian National Petroleum Corporation and the Nigerian Agip Oil Company Joint Venture is set to boost the Federal Government power generation aspiration by 480 megawatts through the completion of its Okpai Phase II Independent Power Project by 2019.
Following the flag-off of oil search on the Nasarawa State end of the Benue Trough last week, the Nigerian National Petroleum Corporation has commenced a move to mobilize for oil exploration in the Benue State sector of the Benue Trough.
The U.S. Trade and Development Agency awarded a grant to the GreenCape Sector Development Agency for a feasibility study to assess the market demand, socio-economic impacts, and key risks of a proposed integrated liquefied natural gas (LNG) importation .
Nigeria's excess oil revenue has risen to N11.1 billion ($36.6 million) daily as the price of crude oil hits $60.44 per barrel in the international market.
Carlyle-backed Assala Energy has completed the acquisition of Shell’s onshore assets in Gabon, Africa, for a total of USD $628 million including an amount equivalent to interest.
Oando PLC, Nigerian indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, today announces unaudited results for the nine months period ended 30 September, 2017, with the following highlights:
The Nigerian National Petroleum Corporation (NNPC) has signed a Memorandum of Understanding (MoU) with the Ondo State Government to establish a 65,000 million litres per annum biofuel plant in Okeluse, Ondo State.
American international oil company Kosmos Energy has completed drilling the Hippocampe-1 exploration well located in Block C-8 offshore Mauritania in approximately 2,600 meters of water.
Oil search in the nation’s inland basins received a fresh impetus following the commencement of exploration activities in the Benue Trough by the Nigerian National Petroleum Corporation.
The Gas flare rate in Nigeria stands at 12.00 per cent, the Nigerian National Petroleum Corporation Monthly Financial and Operations Report for August has revealed.
TOTAL Nigeria has commissioned the second High Speed Filling Machine in its Lubricant Blending Plant in Koko, Delta State in October 2017.
The Ministry of Mines and Hydrocarbons of Equatorial Guinea, Hess Corporation and its license partners have reached a $220-million settlement on tax issues related to the companies’ interests in two producing oilfields, Ceiba and Okume.
However hard it tries, the National Oil Corporation is unlikely to push Libyan oil production beyond its year-end target of 1.25 million bpd, says a study from leading international oil firm Wood Mackenzie.
The assets of Hess Corporation in Equatorial Guinea will be acquired by Kosmos Energy, the Ministry of Mines and Hydrocarbons has announced.
The Ministry of Mines and Hydrocarbons of Equatorial Guinea, Kosmos Energy of the US and national oil company GEPetrol have signed three new production sharing contracts (PSC) for Block EG-21, Block S and Block W offshore Rio Muni.
The Nigerian National Petroleum Corporation has a stock of over two billion litres of Premium Motor Spirit (PMS), also known as petrol, to ensure a hitch-free end-of-year movement of motorists.
Italian multinational oil and gas company Eni has finalized the sale of a 30 per cent stake in the Shorouk concession, where the super-giant Zohr gas field is located, to Rosneft.
The Ministry of Mines and Hydrocarbons, Ophir Energy and national oil company GEPetrol have signed a new production sharing contract (PSC) for Block EG-24 offshore Rio Muni, Equatorial Guinea.
The Shell Nigeria Gas has donated an ultramodern ICT Centre and well-equipped science laboratories to African Church Community Secondary School in Ewupe, a community hosting the company’s facilities in Ota area of Ogun State.
As part of strategies to shore up the nation’s reserve base, the Nigerian National Petroleum Corporation (NNPC) will reinvigorate exploratory activities in the seven hydrocarbon basins in the country.
Tullow Oil is pleased to announce that it has acquired 90% stakes in four onshore blocks in Côte d’Ivoire.
The Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Dr. Maikanti Kacalla Baru, has said that he had engaged investors to establish a refinery in Akwa Ibom State.
Oranto Petroleum has signed two production sharing agreements (PSA) in the Ngassa Shallow and Deepwater Play of Lake Albert in Uganda.
CH2M wins marine engineering support contract on BP project developing offshore gas fields in Senegal and Mauritania
CH2M has been awarded a new marine engineering support contract on BP's innovative Tortue development offshore Mauritania and Senegal.
OPEC nations pumped slightly more crude in September as Libya’s biggest oil field returned to production.
Total and the National Office of Petroleum of Guinea (ONAP) have signed a Technical Evaluation Agreement to study deep and ultra deep offshore areas located off the coast of Guinea Conakry.
SDX Energy Inc., the North Africa focused oil and gas company, is pleased to announce that an oil discovery has been made by the Rabul 2 Well in the West Gharib Concession in Egypt.
The Nigerian National Petroleum Corporation, NNPC has announced a total export receipt of $471.90 million for the month of July 2017 as against $219.34 million posted in June 2017.
Shell has launched its global education initiative, NXplorers, in Nigeria, in the latest effort to inspire young people to find solutions to the global challenges of food, water and energy in the face of an increasing global population.
The Petroleum Oil and Gas Corporation of South Africa SOC Ltd. (PetroSA), has recorded a loss for the year of R1.4billion for 2016/17 (2016: R449 million loss).
Erin Energy has announced that funding commitment has been obtained to drill our high-impact Miocene exploration well. Site survey of drilling location has been completed and the well is planned to be spudded during this quarter.
African national oil companies need to evolve for the future in light of a challenging and disruptive environment - PwC analysis
NOCs across Africa have an enormous opportunity to secure a more sustainable future by transforming into “national energy companies” (‘NECs’), escaping the economic trap of a lower oil price
KBR awarded engineering and project management services contract for Sonatrach, Statoil and BP joint project in Algeria
KBR, Inc. has been awarded an engineering and project management services contract by JVGAS – a joint venture of Sonatrach, Statoil and BP.
San Leon Energy PLC said on Friday its loss narrowed in the first half of 2017, as it says it is concentrating on its Nigerian interests.
The International Monetary Fund recently stated that the oil reserves in Uganda may account for around four percent of the country’s economy annually in the next few years if managed well.
Nigerian Petroleum Development Company is poised to grow its equity production from the current 180,000 barrels per day to 300,000 bpd by 2018 and by 2019 and 2020 its production is expected to hit 400,000 bpd and 500,000 bpd, respectively.
Kosmos Energy has announced that the Special Chamber of the International Tribunal of the Law of the Sea (ITLOS) has issued its final decision in the maritime boundary dispute between the Governments of Ghana and Côte d'Ivoire.
The Nigerian National Petroleum Corporation (NNPC) will accelerate local capacity development in all its operations within the nation’s Oil and Gas industry.
Baker Hughes, a GE company, has signed an agreement for the provision of Asset Performance Management software and services for LNG trains and related Balance of Plant by Nigeria LNG Limited.
The Danish Government will guarantee a 10 per cent equity financing of a Joint Venture Company involving the Nigerian National Petroleum Corporation (NNPC) and a Danish firm, Unibio A/S Limited.
In line with the Presidential mandate of rehabilitating the nation’s three refineries, the Nigerian National Petroleum Corporation has inaugurated eight committees charged with returning the refineries to their nameplate capacities by the year 2019.
Shoreline Energy Limited and The Shell Petroleum Development Company of Nigeria Limited have signed an agreement to explore opportunities to buy, market, distribute and sell natural gas to consumers and companies in the Victoria Island,
PetroSA and Rosgeo sign multi-million dollar agreement to develop oil and gas blocks in South Africa
PetroSA, the Oil and Gas Corporation of South Africa, and Rosgeo, geological exploration company of the Russian Federation, have signed an agreement that will see about US$400 Million invested in oil and gas development.
The Nigerian National Petroleum Corporation and its upstream joint venture partner, ExxonMobil, are seeking new measures to expand existing operational portfolio with a view to increasing crude oil production and availability of gas for power generation.
In a signing ceremony hosted by H.E. Eng. Tarek El-Molla, Minister of Petroleum and Mineral Resources for Egypt, Baker Hughes, a GE company has announced a major subsea contract from Petrobel
Orca Exploration Group is in discussions with Swala Oil & Gas in Tanzania on a possible minority investment in PAE PanAfrican Energy Corporation, a Mauritius-registered company that is a wholly-owned subsidiary of the Company.
Statoil has completed a transaction with ExxonMobil Exploration and Production South Africa Limited, acquiring a 35 per cent interest in Exploration Right 12/3/252 Transkei-Algoa.
Economic Commission for Africa’s Executive Secretary Vera Songwe has met with the principals of the Food and Agriculture Organization, World Food Programme , and the International Fund for Agricultural Development and agreed to work closely with them in a number of areas.
The ongoing restructuring of the Nigerian National Petroleum Corporation, NNPC received fresh impetus on Tuesday with the appointments and deployments of top executives across the value chain of its operations.
Oil and gas is big business in Ghana, and it is only getting bigger! In 2007, the Jubilee oilfield was discovered, and it is containing up to three billion barrels.
The Nigerian National Petroleum Corporation has increased daily average natural gas supply to the nation’s gas power plants by 123 per cent to 730 million standard cubic feet per day (mmscf/d).
PetroSA , the Petroleum, Oil and Gas Corporation of South Africa, has donated R4 million for the complete reconstruction of the Maseleni Junior Secondary School, at Ntsetshe Village, Dutywa, in the Eastern Cape.
Baker Hughes, a GE company has announced a second major contract for Eni East Africa’s (EEA) Coral South FLNG development, offshore Mozambique.
Nigerian National Petroleum Corporation urges indigenous companies to bid for 30 marginal oil fields
The Nigerian National Petroleum Corporation has urged members of the Independent Petroleum Producers Group to participate in the forthcoming bid round for about 30 marginal oil fields which will soon be flagged off by the Federal Government.
Schneider Electric, the global specialist in energy management and automation, has signed a contract to provide comprehensive process automation systems, solutions and services to Dangote Oil Refinery.
The Nigerian National Petroleum Corporation (NNPC) has requested a deeper collaboration with India in the area of expertise and state-of-the-art medical equipment to revitalize its 52 clinics across the country.
The Shell Petroleum Development Company of Nigeria Joint Venture has commenced production at Gbaran-Ubie Phase 2, a key project in the Niger Delta that will help to boost gas supply to the domestic market and maintain supply to the export market.
The Nigerian National Petroleum Corporation is working closely with the international oil companies (IOCs) to deploy a structured and holistic security apparatus to tackle incidence of oil and gas infrastructure sabotage in the country.
By embracing a digital revolution in its oil and gas facilities, Nigeria could propel itself from the shadows of persistent underperformance to become a global energy powerhouse.
The Ministry of Mines and Hydrocarbons, Ophir Equatorial Guinea Ltd, OneLNG SA and La Compania Nacional De Petroleos De Guinea Ecuatorial have nominated Gunvor Group Ltd as its preferred LNG Buyer for offtake from the Fortuna FLNG project.
NNPC has pledged support to the Presidential Committee on Harmonised Standard Operating Procedures on Arrest, Detention and Prosecution of Vessels and Persons in Nigeria’s Maritime Environment (HSOP) to tackle the menace of oil theft.
In late July, Uganda chose a consortium, including General Electric Co., to build and operate a crude oil refinery, which will eventually process oil from fields being developed by Total SA and Tullow Oil Plc
The Nigerian National Petroleum Corporation (NNPC) has driven down the cost of crude oil production from $78 dollars per barrel as at August 2015 to $23 per barrel representing 70.5 per cent reduction.
Bolloré Logistics Zambia has been awarded the tender contract for the distribution of lubricants by TOTAL Zambia. The contract was awarded for a period of five years renewable.
In its bid to support the Federal government’s aspiration to increase power generation to 10GW, the Nigerian National Petroleum Corporation has unveiled plans to expand gas generation and distribution nationwide.
Erin Energy Corporation announces today financial and operational results for the quarter ended June 30, 2017.
Oil prices fell as much as 2 per cent on Monday on selling triggered by a rebound in production from Libya’s largest oil field along with worries about higher output from OPEC and the United States.
The leaders of Tanzania and Uganda laid a foundation stone on Saturday for the construction of a $3.55 billion crude export pipeline that would pump Ugandan oil for international markets.
Kosmos Energy, a company behind some of the industry’s largest recent oil discoveries, will begin drilling the first of a trio of so-called super-giant prospects off the coast of Senegal and Mauritania later this month.
Uganda has picked a consortium including GE and Italian Saipem to build and operate the African country’s first oil refinery.
The Nigerian National Petroleum Corporation has disclosed that the four major investments it recently embarked upon with key upstream joint venture partners are capable of providing incremental revenue to the national treasury by over $30 billion.
Two sets of alternative financing agreements on Joint Venture projects to boost reserves and production in line with government’s aspiration were executed in London on Monday between the Nigerian National Petroleum Corporation, Chevron and Shell.
The Nigerian National Petroleum Corporation has said the West African Gas Pipeline would be extended from Ghana to Cote d’ Ivoire as part of the Federal Government West African energy integration policy.
Erin Energy Corporation has announced the arrival of the Pacific Bora drilling rig to the Oyo field offshore Nigeria. Erin Energy plans to use Pacific Bora to drill the Oyo-9 well (Oyo-9) on the Oyo field in deepwater offshore Nigeria.
The highly efficient sixth generation drilling rig Pacific Bora meant to carry operation at the Oyo field offshore Nigeria has arrived in the area according to Erin Energy Corporation.
Oando PLC, the Nigerian indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, today announced unaudited results for the six months period ended 30 June, 2017.
The Federal Government has said it relies heavily on the Dangote refinery to fulfill its promise to Nigerians to end fuel importation by December 2019.
Cairn Energy has released the results of the FAN South-1 well in the South Fan prospect offshore Senegal.
Erin Energy Corporation has announced that the Government of the Republic of The Gambia has approved the farm-out agreement with FAR Ltd. (FAR), an Australian Securities Exchange listed oil and gas company
Anadarko Petroleum Corporation has announced that it has finalized two agreements with the Government of Mozambique, together known as the "marine concessions" , which would allow it to design, build and operate the marine facilities for its LNG project in northern Mozambique.
Total Nigeria Plc and Blackbit Limited signed a Solar Home Solution distribution agreement. This Solar Product distribution partnership is aimed at facilitating seamless nationwide access to Solar energy products.
OPEC moved on Monday to cap Nigerian oil output and called on several members to boost compliance with production cuts to help clear excessive global stocks and support flagging prices.
The British Government has expressed its readiness to invest in pipeline infrastructure, renewable energy, gas and power of the Nigerian Oil and Gas Industry.
The average national daily gas supply to the nation’s power plants has risen by 64 per cent, the Nigerian National Petroleum Corporation (NNPC) Financial and Operations Report for May 2017 released in Abuja has said.
A new vista has been added to the ongoing search for commercial hydrocarbon in the inland sedimentary basins by the Research and Development Division of the Nigerian National Petroleum Corporation in collaboration with US based Halliburton.
[Nigeria] Erin Energy Drilling and Production Update - Oyo-9 expected to increase production by 6-7bpd
Erin Energy Corporation provided an update today on its drilling operations that are expected to double production for the Company and also updated its plans for drilling one of its prime exploration prospects.
The Nigerian National Petroleum Corporation, NNPC, has secured $2billion discounts in the last one year from renegotiated Upstream contracts being executed by its various service providers.
Erin Energy Corporation has announced that the Government of the Republic of The Gambia has approved the farm-out agreement with FAR Ltd., an Australian Securities Exchange listed oil and gas company.
The recent strategic intervention of the Nigerian National Petroleum Corporation which led to a 42 percent fall in the price of Automotive Gas Oil, popularly called diesel, has continued to sustain the downward price across the country.
[Tunisia] Africa Finance Corporation announces $28 million loan facility for development of oil block
Africa Finance Corporation has announced it is to provide a $28 million subordinated loan facility for the development of Topic SA’s (Topic) Halk El Menzel offshore oil concession block in Northern Tunisia.
The plan by the Nigerian National Petroleum Corporation to grow the nation’s crude oil reserves to 40 billion barrels by the year 2020 received a major boost on Thursday with the execution of a tripartite agreement in Abuja.
The French Government has said that it has set aside about one billion euros to be invested in the Nigeria Oil and Gas industry, stating that Nigeria remains her first economic trading partner in Africa.
The Federal Government’s plan to attract investment in modular refineries as part of efforts to boost local refining capacity has started gaining momentum with an Indonesian firm, PT Intim Perkasa.
Erin Energy Corporation has provided an update on its drilling operations that are expected to double production for the Company, as well as updated its plans for drilling one of its prime exploration prospects.
Price of Automotive Gas Oil (AGO), also known as Diesel, has crashed to about 42% nationwide, a huge downslide over the last six months, following key strategic interventions by the Nigerian National Petroleum Corporation.
The Nigerian Government is said to have received the sum of $3.7 billion in taxes and royalties from Anglo-Dutch Shell Group.