Accurate Accounting of Production Critical for Nigeria’s Oil and Gas Industry Growth – NUPRC The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has re-emphasised the importance of accurate accounting in Nigeria’s oil and gas Industry. This was made known by the commission’s chief executive, Gbenga Komolafe, in a workshop on production determination, accounting and reconciliation for…
By Ikenna Omeje, Jerome Onoja According to a 2010 report by Accenture, “The golden era of easy oil is over.” The report noted that “Today the rules of the game have changed: developing local economies, stimulating industrial development, increasing local capability, building a skilled workforce and creating a competitive supplier base—also referred to as local…
The Nigerian oil and gas industry is strategic to the overall socio-economic development of the country. Nigerian Content (“NC”) development is critical for the nation as it progresses in its quest to acquire oil and gas technology and build indigenous capacity in the oil and gas industry. As an industry that thrives on partnership with…
Butane Energy Limited, one of the gas based business supported with equity investment by the Nigerian Content Development and Monitoring Board (NCDMB) has opened its 100 metric tonnes Liquified Petroleum Gas (LPG) Storage and Bottling Plant in Kabukawa layout, Kastina State. The project was commissioned on Saturday by the Kastina State Governor, Rt. Hon Aminu Bello…
… achieve 42% Nigerian Content The Nigerian Oil and Gas Industry spent approximately $20.4billion between 2016 and 2020, particularly in key areas such as Engineering, Procurement, Fabrication, Project Management, and Services. Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote revealed this at the opening of the 10th Practical Nigerian…
By Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea Since Ireland in 2018 became the first country to say it would divest entirely from fossil fuels, governments, activists, and agencies worldwide have begun reciting the same rallying cry: ban all financing on hydrocarbons development and production. The idea of a blanket ban…
The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote has said that the Duport Modular Refinery is on track to be completed before the end of December 2021. He made this statement recently during an inspection visit to Duport Energy Park situated at Egbokor in Edo state. The…
By Ikenna Omeje Nigerian energy giant, Seplat Energy, will soon begin drilling of Sibiri prospect on Oil Mining Lease (OML) 40, the Chief Executive Officer of the company, Roger Brown, has said. Brown disclosed this while commenting on the company’s third quarter 2021 unaudited financial results, in which the company reported revenue of N182.7bn, representing…
….a sneak peek at COP26 Intrigues; any hope for Africa? By Ikenna Omeje, Jerome Onoja The effects of climate change is being felt by everyone. It’s going to be more devastating for the regions that are least prepared; and Africa among others, tops that list of continents with very little adaptation and mitigation measures in…
By Ikenna Omeje As the world pushes towards clean and greener energy sources, part of measures to reduce global temperature to 1.5 degree Celsius, the Vice President, Prof. Yemi Osinbajo, has said that energy transition can no longer be limited to incremental steps. Osinbajo sated this while declaring open Seplat Energy Summit 2021, which held…
