By Ikenna Omeje The Niger Delta Development Commission, NDDC, has inaugurated three committees to facilitate organisational reforms and drive the commissioning of completed projects across the Niger Delta region. Speaking during the inauguration of the committees at the new headquarters of the Commission, the Interim Administrator, Mr Efiong Akwa, said that henceforth the Commission would…
By Mordi chukwunonso Esther No fewer than 96 companies from various jurisdictions have shown interest in rehabilitating the Nigerian National Petroleum Corporation’s downstream infrastructure. NNPC’s Group General Manager, Group Public Affairs Division, Kennie Obateru, said the infrastructure include critical pipelines to depots and terminals, as the firms would rehabilitate the facilities through the build, operate…
By Mordi Chukwunonso Esther A consortium that includes oil majors Royal Dutch Shell and ExxonMobil has requested a total of 2.1 billion euros ($2.55 billion) in subsidies for a project to store CO2 gasses in empty Dutch gas fields in the North Sea, the Dutch Economy ministry said on Thursday. The subsidies were requested together…
By Mordi Chukwunonso Esther A stakeholder and former Deputy Speaker of the House of representatives, Chibudom Nwuche, has urged Youths in Rivers State to protect oil and gas facilities located in their various communities from vandalism. Nwuche gave the charged in Port Harcourt while receiving members of Ekpeye Youth Congress. He also charged the youths to protect…
By Mordi Chukwunonso Esther OPEC has revealed that Nigeria’s oil sector experienced a decline by approximately 14% last year. This was disclosed in its Monthly Oil Market Report, MOMR for December. According to the report, Nigeria’s oil sector fell by 13.9% compared with a 6.6% decline in the second quarter of same year. On the…
By Mordi Chukwunonso Esther The federal government has said that it will spend N765 billion on the Social investment programmes (SIPs) as the programme got the highest allocation among the selected projects listed in the 2021 approved budget. The Minister of Finance, Zainab Ahmed said N400 billion will go directly to the programme while N365 billion will go…
By Mordi Chukwunonso Esther The Nigerian National Petroleum Corporation (NNPC), following Nigeria’s oil production restricted to 1.74 million barrels per day by the organization of Petroleum Exporting Countries(OPEC),has said it will focus on increasing gas and condensate productions to boost revenue for the country, The Corporation’s Group Managing Director, Mallam Mele Kyari who disclosed this on…
By Ikenna Omeje The National Oil and Gas Authority (NOGA) of the Kingdom of Bahrain and Eni Rewind, Eni’s environmental company, on Thursday, signed a memorandum of understanding (MoU) for the development of circular economy initiatives in Bahrain, in the presence of Shaikh Mohammed bin Khalifa Al Khalifa, Minister of Oil and Claudio Descalzi, Chief…
Vice President Yemi Osinbajo has charged the Oil Producers Trade Section (OPTS) and the Independent Petroleum Producers Group (IPPG) on reconciling and maintaining Nigeria’s domestic gas obligation for maximum benefits for both investors and the government. According to the spokesman to the Vice President, Laolu Akande, in a statement on Wednesday in Abuja, Osinbajo said…
The Nigerian National Petroleum Corporation (NNPC) has expressed its plans to deepen gas development, adding that it had begun the process to diversify its portfolio beyond oil assets to hedge future crisis and align with global energy transition. The oil firm noted that the country’s huge unharnessed gas resources as well as condensate could provide…