Barely two weeks after the National Assembly passed the N8.916 trillion budget for 2019, the implementation of the financial plan is already being threatened by the spate of vandalism of oil pipelines across the country. Nigeria has set oil production target of 2.3 million barrels per day (mbpd) at a price benchmark of $60 to…
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, will tomorrow (Tuesday) address foreign investors at the 50th edition of the Offshore Technology Conference (OTC) in Houston, United States. Baru, who will speak on the topic “Deep-water Operations in Nigeria: The Journey so Far” is expected to address participants on…
Less than 24 hours after switching on the Nembe Creek Trunk Line (NCTL), after identified leak points were amended, Aiteo Group on Monday announced a fresh closure of the same trunk line as two new compromised spots were discovered near Awoba Riser Manifold. NCTL is a 97-kilometre, 150,000 barrels of oil per day owned by Aiteo…
U.S. refiners have turned to several lesser-used oil suppliers in the wake of U.S. sanctions that restricted usual providers of widely-used grades as they gear up for peak driving season. Iraq, Nigeria, Brazil and Angola combined this month are set to deliver their most crude oil to the United States in more than 18 months,…
Nigerian investors and industry players will be keeping an eagle eye on a current wave of investment opportunities about to open up for local companies as International Oil Companies (IOCs) move to fully divest from onshore assets. According to sources, oil majors in Nigeria are expected to be selling off their onshore assets while focusing…
Invictus Energy has announced that the Cabora Bassa Project partners, comprising Invictus (80%) and One-Gas Resources (20%), have entered into a non-binding Memorandum of Understanding (MOU) with Sable Chemical Industries to progress gas supply from the Cabora Bassa Project subject to a commercial gas discovery being made from SG 4571. Sable is the sole manufacturer of agriculture grade ammonium nitrate fertiliser in Zimbabwe…
Two legal experts from the International Atomic Energy Agency (IAEA) are in Rwanda for a three-day mission to train Rwandan officials about the international legal framework on how to ensure nuclear safety, security, and civil liability for nuclear damage. Attended by about 25 officials and experts from different Rwandan institutions, the training is being conducted…
BHGE (BHGE.com) to provide turbomachinery equipment for four FLNG compression trains for BP’s Greater Tortue Ahmeyim natural gas project; Award is second major contract for Greater Tortue development, expanding on BHGE’s contract for subsea production equipment; Floating LNG facility to provide circa 2.5 million tonnes of LNG per annum and represents the first stage of a…
Flintstone Technology has secured a substantial contract with MODEC for its in-line tensioning and pull through connection mooring system to be deployed off West Africa. The system will be used on Tullow Oil’s Kwame Nkrumah MV21 floating production storage and offloading (FPSO) vessel located on the Jubilee field off the coast of Ghana. The mooring…
Beginning from today (Tuesday) containers and oil tankers would start moving goods from Lagos ports through the newly acquired Railway wagons to the north. The goods would move to the dry port in Kaduna in the North. The transport minister Rotimi Amaechi had ordered some wagons for the Lagos-Ibadan railway for the purpose. This measure…
