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Tag: Oil and Gas

NACCIMA, EU partner on business innovation
Oil and Gas

FG needs to fix Nigeria’s refineries – NACCIMA

The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, has called on the Federal Government to urgently fix the four refineries which have been in comatose for the past 16 years. The President of the association, John Udeagbala, said this should be done so as to end petroleum products importation into the country. […]

Crude hits $83 as Nigeria's export passes 1.4mbpd
Business

FG to introduce 13 more oil sector regulations 

The upstream sector of the oil and gas industry can expect 13 new regulations from the Federal Government in the next few weeks. According to The Punch, the Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, made this announcement on Tuesday during the Nigerian International Energy Summit in Abuja. In addition […]

Business

Ex-Shell CEO’s pay package hits £9.7m – Report

The former CEO of the oil giant, Shell, Ben van Beurden, received a total pay package of £9.7 million in 2022, a report has revealed. According to Shell’s annual report and accounts accessed by BBC, the Dutchman received a total remuneration of £6.3 million in 2021. This means there was over £3 million increase in […]

EXXONMOBIL-REFINERY
Business

ExxonMobil to complete sale of shallow water assets soon

Energy leader, ExxonMobil, said it is hopeful to sell its shallow water oil production assets to Seplat Energy soon upon approval from the Nigerian government. This was disclosed in a statement by the President of Global Upstream, Liam Mallon, issued to Reuters. According to Nairametrics, the statement was made ahead of the CERAWeek Energy Conference […]

Tight security as Buhari visits Maiduguri for power plant inauguration
Oil and Gas

Tight security as Buhari visits Maiduguri for power plant inauguration

Security measures have been beefed up at the Maiduguri Emergency Power Plant project site in Borno ahead of its inauguration by President Muhammadu Buhari. According to the News Agency of Nigeria, the president will officially open the 50-Megawatt gas-fired power plant on Thursday. It was developed by the federal government in partnership with the Borno […]

PTI to be revamped before Buhari regime ends - Committee
Oil and Gas

PTI to be revamped before Buhari regime ends – Committee

In order to train and create local technologies that will operate the oil and gas industry before the current Buhari administration leaves office, the Petroleum Training Institute’s training facility in Effurun, Delta State, may be restructured. The Punch reported that on Monday, the PTI Repositioning Committee paid a working visit to the Institute to assess […]

Maritime

NIMASA’s deep blue project to remove Nigeria from high rate attack nations

The Director General of Nigerian Maritime Administration and Safety Agency, Dr. Bashir Jamoh, has said that the reassurances that the deep blue project for which the federal government procured air, land and water assets for maritime security has made the industry safer and removed Nigeria from the list of countries with high incidence of attacks. […]

NNPCL, Daewoo sign $740.6m deal for KRPC rehabilitation
Oil and Gas

NNPCL, Daewoo sign $740.6m deal for KRPC rehabilitation

The Nigerian National Petroleum Company Limited yesterday, signed with Daewoo Engineering & Construction Nigeria Limited a $740.6m deal for Kaduna Refinery & Petrochemical Company Limited to be rehabilitated. LEADERSHIP News reported that the contract is a follow up to the memorandum of understanding for the rehabilitation of the refinery that NNPC and Daewoo Group of South Korea […]

Gas consumption to decline over Russia, Ukraine war - Report
Oil and Gas

Gas flares to be commercialised by 139 investors – FG

Bisola David     The Federal Government announced on Thursday that a total of 139 investors have expressed interest in profiting from the 48 flare sites located across the nation’s gas flares.   According to The Punch, this information was presented during the Nigerian Gas Flare Commercialization Programme Bidders Conference and Investors Forum in 2022, which […]