Crude Oil Theft: NNPC Ltd launches Monitoring Apps The Nigerian National Petroleum Company Limited (NNPC Ltd.) launched ‘Crude Theft Monitoring Applications’ to curb oil theft and pipeline vandalism. The launching took place on the sideline of the signing of renewed Production Sharing Contracts (PSCs) agreements between NNPC and its partners in Oil Mining Leases. The…
EU Gas Flows through Nord Stream Steady amidst Russia/Ukraine War Russian gas flows to Europe via the Nord Stream pipeline and via Ukraine remained steady on Friday, operator data showed. Physical flows via the Nord Stream 1 pipeline from Russia to Germany were at 14,575,401 kilowatt hours per hour (kWh/h) for 0800-0900 CET, similar to…
NNPC, Shell, Chevron, Renew PSC Leases The Nigerian National Petroleum Company (NNPC) Ltd, and its Production Sharing Contract (PSC), contractors negotiated renewed PSCs leases. During an end to mark the landmark achievement held at the NNPC Towers in Abuja, the parties renewed their agreements in five Oil Mining Leases (OMLs 128, 130, 132, 133 and…
Imminent Strike as IPMAN threatens to shutdown depots The Independent Petroleum Marketers Association (IPMAN), South East Zone, has threatened to shut down depots in Calabar, Port Harcourt and Enugu over incessant police harassment of its leaders. Mr Robert Obi, Cross River Chairman, IPMAN, made the threat on Friday in Calabar in an interview with newsmen….
Oil Derivation: Bayelsa receives N31.84bn in May and June 2022 The Bayelsa State Government has announced that the state received the sum of N31.84billion from the derivation revenue of 13percent of the value of crude oil produced in the state in the months of May and June 2022. While the Bayelsa state received N17.82billion from…
NCDMB Partners Siemens Energy, Commence Training Of 60 Bayelsa Teachers On STEM The Nigerian Content Development and Monitoring Board (NCDMB) in partnership with Siemens Energy has commenced the training of 60 primary school teachers in Bayelsa state. The training is targeted at introducing innovative teaching of Sciences, Technology, Engineering and Mathematics (STEM) education to the…
CNL Showcases Investment in Local Content for 2021 Report Chevron Nigeria Limited (CNL) showcases Corporate Social Responsibility (CSR) report of company’s multimillion naira investments in Nigerian local content. It revealed in its 2021 CSR report where it stated its investment in Nigerian Content was approximately $863,110,905.70, with approximately $214,418,107.76 spent on materials and services provided…
NAPE Recommends Sanctions for Non-compliance with Regulations by IOCs Foremost oil industry association, Nigerian Association of Petroleum Explorationists (NAPE) has called for sanctions on international oil companies (IOCs) that flout the decommissioning of non-functional oil and gas assets before their planned exit. Speaking in Abuja at the NAPE quarterly technical presentation, the Coordinator, Abuja chapter…
President Buhari Withholds Consent of Exxon Mobil’s Asset Sale Nigeria’s President Muhammadu Buhari has withheld his initial approval of Exxon Mobil’s (XOM.N) sale of local offshore shallow water assets to Seplat, his spokesman said on Thursday, after the oil regulator refused to give its consent. Buhari on Monday consented to the $1.28 billion transaction, only…
IE Signs Tripartite Mini Grid Contract for Improved Power Supply Ikeja Electric Plc, has signed a Tripartite Interconnected Mini-Grid Agreement with Enaro Energy Limited and Ayobo community, to provide reliable and uninterrupted electricity supply to Ishokan Phase1 Estate, Mercy Land Estate and Mercy Land Phase1 residents in Ayobo, Lagos State. The initiative is in line…