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…
10 Chiefs of Navies and 250 international senior officials at The International Maritime Defence Exhibition and Conference – International Maritime Bureau: 201 Incidents Reported to Piracy Reporting Center in 2018 -$ 818.1 million is the economic cost of piracy to West Africa -$ 213.7 million maritime security personnel expenses 20 captains, commodores, rear admirals, vice admirals, & admirals discussing…
Total will meet Algerian authorities for talks over its plans to buy Anadarko’s assets in the country and is not worried by media reports that Algiers would block the deal, Chief Executive Patrick Pouyanne said on Wednesday. “We will meet Algerian authorities very soon,” Pouyanne told shareholders at the company’s annual meeting in Paris. “We…
ExxonMobil’s proved reserves of crude oil in Africa has decreased by 46% in the last four years, the company itself reports. The company holds exploration and production assets in nine countries on the continent, including Angola, Chad, Equatorial Guinea, Namibia, Nigeria, Mauritania, Mozambique, South Africa and Tanzania. Reserves dropped from 1.295Billion barrels at the end…
Royal Dutch Shell Plc is planning to acquire an oil-block stake in a second deal in South Africa’s relatively unexplored waters, months after a major discovery by Total SA boosted the country’s hydrocarbon prospects. Shell has applied to take a stake in a license owned by OK Energy, located in deep waters off South Africa’s…
Eni, through its subsidiary Eni Mozambico, has acquired rights to explore and develop offshore Blocks A5-B, Z5-C and Z5-D, located in the deep waters of the Angoche and Zambezi Basins. Through a farm-in agreement, signed with ExxonMobil and authorized by Mozambican institutions, Eni acquires a 10% stake in the three blocks. Block A5-B is located about 1,300 kms northeast of the capital…
REN’s Sines LNG import terminal on Portugal’s Atlantic coast is set to receive a cargo of liquefied natural gas from Nigeria. The cargo will be delivered from Nigeria LNG’s Bonny Island liquefaction plant onboard the LNG Borno liquefied natural gas carrier. The vessel with the capacity to transport 149,600 cubic meters of liquefied natural gas…
Indications have emerged that more companies are coming into the mainstream of meter production in the country, just as meter asset providers (MAPs) will roll out meters to 4,606,106 electricity consumers soon. The idea will enable them to maintain a stronghold of the metering sub-sector, as they would be regarded as part of the indigenous…
The Kaduna Refining and Petrochemical Company did not refine any crude oil from February 2018 to January this year, the latest data obtained from the Nigerian National Petroleum Corporation showed. The Port Harcourt Refining Company was idle from July 2018 to January this year It was gathered on Wednesday in Abuja that the last time…