Oil and Gas

court.jpeg

Court Restricts NNPC, Others From Allocating Crude Oil to Addax Oil

By Sunday Elom A Nigerian Federal High Court sitting in Lagos State has restricted the Nigerian National Petroleum Corporation (NNPC) Limited, the Ministry of Petroleum Resources (MPR) and the National Petroleum Investment & Management Respondent Services (NAPIMS) from allocating crude oil to Addax Oil Exploration Plc. The court made the injunction following a motion for …

Court Restricts NNPC, Others From Allocating Crude Oil to Addax Oil Read More »

Power-transmission.jpg

Egypt, Nigeria Seal Deal on Power Transmission, Distribution

By Chibisi Ohakah, Abuja Nigeria has announced plans to partner with Egypt in the areas of technical support in the transmission and distribution of electricity, as well as renewable energy in Nigeria. Minister of power, Abubakar Aliyu, confirmed this after a meeting with the Egyptian Ambassador to Nigeria, Ihad Awad, at the headquarters of the …

Egypt, Nigeria Seal Deal on Power Transmission, Distribution Read More »

Nigeria-oil-production-3.jpg

Nigeria Lost $32.9m Per Day in December

The latest Organization of the Petroleum Exporting Countries (OPEC’s) Monthly Oil Market Report (MOMR) released on Tuesday, shows that Nigeria’s oil production failed to meet the OPEC+ required quota for December and the 2021 budget assumption. Specifically, Nigeria’s crude oil output came in at 1.196 mb/d in December 2021 compared with the 1.666 mb/d of …

Nigeria Lost $32.9m Per Day in December Read More »

Nigerian-Content-Development-and-Monitoring-Board-NCDMB.jpg

NCDMB Commences Development of Brass Island

By Chibisi Ohakah, Abuja The Nigerian Content Development and Monitoring Board (NCMDB) has commenced the first phase of developing the Brass Island Terminal in Bayelsa state. The facility is designed to carry out repairs and maintenance of large ships and vessels such as LNG carriers, VLCCs and maritime equipment such as jack-up rig vessels. This …

NCDMB Commences Development of Brass Island Read More »

Suhail-Al-Mazrouei.png

OPEC+ Can’t Solve Oil Challenges Amid Scarce Energy Investments

By Chibisi Ohakah, Abuja (with agency reports) UAE energy minister, Suhail al-Mazrouei, has said that OPEC+ can’t solve current oil market challenges alone because the world needs more energy investments to avert future oil price hikes that may impact global economic growth. In a report by S&P Global Platts, the minister explained that the world …

OPEC+ Can’t Solve Oil Challenges Amid Scarce Energy Investments Read More »

crude-oil-1.jpg

International Energy Agency Sees Tighter Oil Market

Global oil markets look tighter than previously thought as demand suffers surprisingly little impact from the latest coronavirus strain while supplies are curbed by disruptions, the International Energy Agency said. The surplus facing world markets this year is shrinking, with oil demand — slightly upgraded from last month — on track to hit pre-pandemic levels …

International Energy Agency Sees Tighter Oil Market Read More »

Liquefied-Petroleum-Gas.jpg

Nigeria Endorses NLNG Cooking Gas New Export Policy

By Sunday Elom The federal government of Nigeria has endorsed decision by the country’s liquefied natural gas company to suspend the export of cooking gas (Liquefied Petroleum Gas (LPG).  The Nigerian Liquefied Natural Gas (NLNG) company Ltd had in an announcement last weekend said henceforth the company would sell 100% to the local market to …

Nigeria Endorses NLNG Cooking Gas New Export Policy Read More »

nnpc-1.jpg

Nigeria Exchanges N1.64trn Crude for Refined PMS Under Direct Sale Direct Purchase

By Sunday Elom Latest report from the Nigerian National Petroleum Company (NNPC) Limited has shown that Nigeria exchanged its crude oil valued at N1.64trillion for refined Premium Motor Spirit (PMS), from January to August 2021, under the Direct Sale Direct Purchase (DSDP) arrangement. Nigeria introduced the DSDP scheme in 2016 to ensure adequate petrol imports …

Nigeria Exchanges N1.64trn Crude for Refined PMS Under Direct Sale Direct Purchase Read More »

Mele-Kyari.jpg

PIA Comes With Plenty Business Opportunities for NNPC – CEO

BY Chibisi Ohakah, Abuja The Nigerian new oil sector legislation, Petroleum Industry Act (PIA), has been tipped to provide business opportunities that will enable the Nigerian National Petroleum Company (NNPC) Limited earn more revenue for the country. Addressing staff of the organization in a townhall meeting held at the NNPC Towers, Abuja at the weekend, …

PIA Comes With Plenty Business Opportunities for NNPC – CEO Read More »