Safely figuring out how to buy crude oil from Nigeria is one of the most daunting tasks crude oil buyers from many parts of the world face. The Nigerian market is highly volatile, too many people masquerade themselves as crude oil sellers, and after a long series of engagements, both the crude oil buyer and…
Norway’s Bergen Group has entered into an agreement with its compatriot oil service company Endúr Fabricom for a merger between the two companies. Bergen Group, an industrial group based in the western part of Norway, is a supplier of products and services to the areas of energy & industry, maritime, defense, access technology & services…
Yinka Folawiyo Petroleum has received consent from the Nigerian Minister of Petroleum Resources for the renewal of the OML 113 license. MX Oil said on Friday that Yinka Folawiyo Petroleum was granted the renewal for another term of 20 years. According to the company, which has an investment in the license, the renewal is subject to…
Offshore driller Stena Drilling has secured more work for its Stena Don offshore drilling rig with the French oil giant Total. The rig is currently on a contract with Total E&P UK on an exploration well west of the Shetland Islands. Stena Drilling on Monday said it had signed a new contract which will see the Stena…
Oilfield services firm Wood has secured two new strategic modifications contracts with Norwegian oil and gas giant Equinor for the Mongstad refinery near Bergen, growing its downstream capability in Norway. Wood said on Tuesday that the scope of the contracts includes front-end engineering design (FEED) for a gas residue debottleneck project, and engineering and procurement…
Egina FPSO sails away to Egina offshore field after completing works in SHI Nigeria’s Lagos facilities; Source: Samsung Heavy The Egina oil field is located some 130 kilometers off the coast of Nigeria at water depths of more than 1,500 meters. Samsung Heavy won the order to build the Egina FPSO in 2013. The newbuild contract is worth…
By Stan Edom Buying crude oil from Nigeria can be relatively straight forward if the crude oil buyer can buy crude oil from a reliable or genuine crude oil seller (mostly a company that has the ability to lift crude oil from the NNPC) or a crude oil broker (a company who brokers on behalf…
The National Bureau of Statistics (NBS) said 165.71 million litres of Liquefied Petroleum Gas (LPG) was imported into the country in the second quarter of 2018. The NBS disclosed this in its “Petroleum Products Importation and Consumption (Truck Out): LPG (Q2 2018)” report released on Sunday in Abuja. According to the report, April recorded the…
The Managing Director, Shell Petroleum Development Company (SPDC), Mr. Osagie Okunbor, has described the lengthy contracting process in the oil and gas sector as the major blight stunting its growth. Okunbor, in an interview with KPMG magazine, said there was an urgent need to review and shorten the length of the contract threshold. According to…
The Rural Electrification Agency has been awarded a Certificate of Compliance in accordance with the ICRC Act, 2005 & the National Policy on PPP for the deployment of Mini-grids and SHS. The certificate was presented by Mr. Chidi Izuwah, the Acting Director-General, Infrastructure Concession Regulatory Commission (ICRC) to the MD/CEO, Rural Electrification Agency, Mrs. Damilola…
