.Mordi Chukwunonso Esther OPEC+, raising concerns that uncertainties may impact the recovery in oil demand due to rising numbers of virus infections globally with new lockdown measures, has lowered its 2021 oil demand growth forecast by 300,000 barrels per day. This is according to a report from the group’s experts panel meeting seen by Reuters on Wednesday. The…
The Nigerian Content Development and Monitoring Board (NCDMB) has said that it only partners with strategic policies and projects that are promoted by the Federal Government and would not invest in oil and gas businesses that have competitive private players. The Executive Secretary of NCDMB, Engr. Simbi Kesiye Wabote made the clarification on Tuesday when…
Iraq has signed a heads-of-agreement deal with French firm Total spanning four projects involving natural gas, solar energy and seawater reprocessing, the oil ministry said on Monday. Total will make a “multi-billion-dollar” investment and the four initial deals will be submitted to the cabinet for final approval, Oil Minister Ihsan Abul Jabbar was quoted as saying…
The Nigerian Content Development and Monitoring Board (NCDMB), the Nigerian National Petroleum Corporation (NNPC), Brass Fertilizer and Petrochemical Company Limited and DSV Engineering on Tuesday signed two key agreements for the construction of 10,000 tonnes per day methanol plant and the 500 million standard cubic feet per day gas processing plant in Odeama, Brass, Bayelsa State. The Executive Secretary of NCDMB,…
By Ikenna Omeje As part of the Federal Government’s gas revolution agenda, President Muhammadu Buhari, on Monday, launched the “The Decade of Gas” programme, which aims to make Nigeria a gas powered economy by 2030. Gas is seen as the energy of the future and Nigeria has over 200 Trillion Cubic Feet (TCF) of gas…
Mordi Chukwunonso Esther The Department of Petroleum Resources (DPR) has outlined five critical levers for gas development as Nigeria moves to leverage its abundant gas resources for national growth, diversification of the economy and to use gas as the fuel for economic transformation. A statement issued on Monday by Mr Paul Osu, Head, Public Affairs, DPR…
… records largest Nigerian oil & gas bond By Ikenna Omeje Seplat Petroleum Development Company, a leading Nigerian independent energy Company listed on both the Nigerian Stock Exchange (NSE) and the London Stock Exchange (LSE), has priced its offering of $650 million in aggregate principal amount of senior notes due 2026. The company, which disclosed…
By Ikenna Omeje The Petroleum Tanker Drivers, an affiliate body of the National Union of Petroleum and Natural Gas workers (NUPENG), has threatened to withdraw their services from May 1, 2021, over the Federal Government delay in enforcing mandatory installation of safety valve on petroleum tankers. The Drivers said that despite several engagements with various…
Nigeria’s leading energy company, The Shell Petroleum Development Company of Nigeria Limited (SPDC), operator of the SPDC Joint Venture, and the University of Port Harcourt in Rivers State have appointed Sunday Ikiensikimama, a professor of Petroleum and Gas Engineering, on a four-year term to the SPDC JV Aret Adams Professorial Chair in Petroleum Engineering at the…
Daniel Terungwa The Federal Government has stated that the mining sector has every local manpower required to drive further growth. This assertion was made by the Minister of Mines and Steel Development, Arc. Olamilekan Adegbite, after receiving the Honourary Fellowship Award bestowed on him by the Nigerian Mining and Geosciences Society (NMGS), recently. Adegbite noted…
