The Nigerian Content Development and Monitoring Board (NCDMB) and the Bank of Industry (BOI) have scheduled meetings with oil and gas service companies, community contractors and commercial banks in a bid to address the factors responsible for the slow disbursement of the US$200 million dollars Nigerian Content Intervention Fund (NCI Fund). NCI Fund is a…
Hon. Dr. Emmanuel Ibe Kachikwu, Minister of State, Petroleum Resources to speak at Africa Oil & Power event in Cape Town, South Africa. AOP 2018 takes place on September 5-7, 2018 and brings together 500 public and private sector delegates from Nigeria and around Africa. This year’s conference features a Nigeria-themed exhibition area and on-stage…
Oil prices stabilised on Monday as worries over production losses were outweighed by concerns that trade disputes would reduce economic growth and hit global energy demand. Benchmark Brent crude oil LCOc1 was up 15 cents at 73.22 dollars a barrel by 7.50 GMT while U.S. light crude CLc1 was unchanged at 68.26 dollars. Finance ministers…
Shell Exploration and Production Mauritania (C-10) B.V. and Shell Exploration and Production Mauritania (C-19) B.V. (“Shell”) today signed two Production Sharing Contracts with the government of Mauritania for the exploration and potential future production of hydrocarbons in the offshore blocks C-10 and C-19. “This move represents Shell’s entry into the West African Atlantic Margin exploration…
Malabo, Equatorial Guinea —The Ministry of Mines and Hydrocarbons of Equatorial Guinea has mandated all petroleum operators to cancel all contracts with Canadian-based CHC Helicopters, over noncompliance with the country’s national content regulations. Some of these operators include Noble Energy, Exxon Mobil, Kosmos Energy, Trident, Marathon Oil Corporation and others. “It is the responsibility of the Ministry of Mines…
Nigeria and the Republic of Niger, Tuesday signed an agreement for the construction of a petroleum pipeline and refinery. The Memorandum of Understanding, MoU, for the project was signed by Nigeria’s Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, and Niger Republic’s Minister of Energy, Foumakaye Gado, at a ceremony in Abuja. The pipeline is expected to run…
The Nigerian Ports Authority would between September 17 and 19 host the International Association of Ports and Harbours (IAPH) Africa Regional Conference in Abuja with a theme, “African Ports and Hinterland Connectivity.” According to the Local Organising Committee, the conference which will hold at the Transcorp Hilton, Abuja will draw key stakeholders in port and harbours from across the…
The Nigeria Customs Service (NCS) says it has embarked on Time Release Study (TRS) to measure the efficiency of its trade facilitation scheme and reduce the time of cargo clearance. Mr Wale Adeniyi, Deputy Commandant, Customs Training College, Gwagwalada, Abuja, disclosed this in an interview with the News Agency of Nigeria (NAN) at a workshop…
Lagos State Police Command and other relevant agencies will today at midnight commence an action it tagged ‘Operation Restore Sanity’ to free Apapa of gridlock. The Lagos State Commissioner of Police, Imohimi Edgal, who disclosed this on Thursday after meeting with representatives of some relevant stakeholders in Lagos, briefed newsmen on the planned operation. The CP who…
As a country, Senegal had largely been overlooked by the oil and gas industry In 2014, Cairn and its joint venture partners made one of the world’s biggest oil discoveries and this was followed by Kosmos with significant gas discoveries. “The region has now evolved from a frontier to an emerging hydrocarbon opportunity attracting…