Mozambique’s Rovuma LNG project has secured government approval, ExxonMobil’s Mozambique Rovuma Venture announced on Tuesday. The project involves construction of two LNG trains with a combined capacity of 15.2 million tonnes per year and will be fed by gas from Mozambique’s offshore Area 4 block. A final investment decision for the project is expected later…
Italian player Eni has found 45 metres of net light oil pay offshore Angola, the super-major said in a press release on Tuesday. The discovery was made in deepwater Block 15/06 through the Ndungu-1 NFW well, drilled to a total depth of 4,050 metres by the Poseidon drillship. The well could produce more than 10,000 bopd. “Being…
The Federal Government is coming up with a policy that will remove the ownership of Liquefied Petroleum Gas (cooking gas) cylinders from consumers. It stated that the move would help deepen the use of LPG, popularly known as cooking gas, adding that the government had reached an agreement with two original cylinder manufacturers to deliver…
There is tension in the Nigerian National Petroleum Corporation (NNPC) over the retirement and deployment of 30 officials, which was approved by the Group Managing Director, Dr. Maikanti Baru. There were fears that the corporation was losing good hands to mediocrity and subservience. It was also alleged that the ongoing recruitment, if it follows a…
A fresh indication has emerged that a final Investment Decision, FID, for Amukpe to Escravos 160,000 barrels of oil per day (bopd), alternate export pipeline has been taken. This will provide a third export option for liquids production at Oil Mining Licences, OMLs, 4, 38 and 41 and will be coming on stream in the…
The humanitarian crisis in the North-east part of the country has received the attention of the United Nations (UN) Nigerian Humanitarian Fund- Private Sector Initiative (NHF-PSI) made up of some key private sector operators, as they have initiated moves to galvanize a new wave of donor support for the displaced persons in the volatile region….
Lawmakers in Nigeria’s upper house of parliament on Thursday approved a 129 billion naira ($422 million) payment to cover debts to local oil firms related to a fuel subsidy programme. The Senate listed 67 companies that will get a portion of the payment. The government has struggled for years to make timely subsidy payments to…
Electricity workers in the country under the auspices of Nigerian Union of Electricity Employees, NUEE, have backed the Rivers State Governor, Nyesom Wike, on his revocation of the sale of the state-owned power infrastructures, hitherto sold to Sahara Energy. Recall that the Rivers State Government recently said it had terminated the sale of 70percent equity…
More than a month into the biggest crisis to hit Russia’s Druzhba (“Friendship”) pipeline, operator Transneft and the government are at odds over who should pay to clean up the contamination that halted flows. Buyers are keen to know who will resolve the impasse, which has seen five million tonnes of oil contaminated with high…
The Independent Petroleum Marketers Association of Nigeria, IPMAN, has urged the Federal Government to encouraged local refiners to boost local refining of crude oil in the country. Mr. Chinedu Okoronkwo, the National President of IPMAN made the appeal in Lagos on Wednesday. Okoronkwo said this became imperative for President Buhari to put in into consideration…