Houston, Texas —Attendance at the Offshore Technology Conference fell for the fifth consecutive year to 59,200, despite stable oil prices and a spike in new discoveries. Last year, attendance was 61,300, the lowest since 2006 and more than 40 percent off the 108,300 records set in 2014, a time when oil prices were hovering around $100 a…
Lagos — The Minister of Transportation, Mr. Rotimi Amaechi has disclosed the federal government has approved the construction for Warri seaport at the cost of about 3.9 billion dollars and also awarded a contract for Abuja-Warri rail line. Amaechi told the News Agency of Nigeria (NAN) on Tuesday in Abuja that government also approved the linking…
Vienna, Austria —The price of OPECbasket of fourteen crudes stood at $69.66 a barrel on Thursday, compared with $69.88 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran…
Shell Nigeria targets the equivalent of 2,400 megawatts of electricity from new gas supply project THE ongoing Assa North/Ohaji South gas development project in Imo State, southeast Nigeria will produce 600 million standard cubic feet of gas per day. This energy is equivalent of about 2400 megawatts which is enough to provide uninterrupted electricity to about…
The Nigeria Police Force raises intelligence alert over plots by subversive elements to attack and destroy oil facilities THE Nigeria Police Force has uncovered specific plots by some subversive elements masquerading as climate and environmental activists to commence massive and coordinated attacks on oil installations across the country especially in the Niger-Delta region and adjoining States. These plots,…
The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, on Tuesday said the Corporation had recovered 1.6 billion dollars from some companies fleecing one of its subsidiaries. Baru disclosed this in Abuja while fielding questions from newsmen after a visit by officials of the Chartered Institute of Forensic and Investigative Professionals of…
Nigerian Afro Hip hop star, Olamide Adedeji a.k.a. Olamide, has released a new single, Oil and Gas, from the anticipated album, `Oil & Gas’ The 30-year-old Bariga, Lagos-born rapper took to his Instagram handle @baddoneh to announce the release of the song. He added a sign of fuel pump facility at an oil station. In the…
The PETAN Awards is an initiative by Nigeria’s foremost industry advocacy group, Petroleum Technology Association of Nigeria (PETAN); and it is intended to promote and heighten awareness of organizations and individuals that are catalyzing development in the country’s oil and gas industry. The nation’s future is bright when we have leaders and organizations committed to changing…
DATA made available by the Nigeria Extractives Industries Transparency Initiative (NEITI) has shown that 28 states would be unable to fund their 2019 budgets from revenue realised in 2018 and 2017. The data was made available in the NEITI Quarterly Review, signed by its spokesman, Dr. Orji Ogbonnaya Orji. The eight states that would be able…
Shell Nigeria targets the equivalent of 2,400 megawatts of electricity from new gas supply project THE ongoing Assa North/Ohaji South gas development project in Imo State, southeast Nigeria will produce 600 million standard cubic feet of gas per day. This energy is equivalent of about 2400 megawatts which is enough to provide uninterrupted electricity to about…
