A country of many paradoxes, Nigeria does not refine a drop of all the products it consumes. But the Nigerian National Petroleum Company says it has devised a different strategy to get the country’s ailing refineries back to function. Will they work this time? Maybe, maybe not, writes Emmanuel Addeh. It’s almost like a basket […]
Tag: Petroleum
Kakumiro, Uganda — The Deputy Speaker of Parliament, Thomas Tayebwa has promised unwavering support from the legislative arm of government towards the production of oil. Tayebwa made these remarks at the belated Women’s Day celebrations hosted by the Prime Minister, Robinah Nabbanja on Friday, 20 May 2022 at the Kakumiro Stadium in Kakumiro District. The […]
Four months after a major oil spill was reported in Lasukugbene community in Southern Ijaw LGA, Bayelsa State, along the Tedibaba Brass Trunk Line operated by the Nigeria Agip Oil Company, NAOC, the leadership of the community has slammed the multinational oil company and the state government for abandoning them. A follow-up visit to the […]
Khartoum — Joint talks between Khartoum and Juba began today in Khartoum to develop joint cooperation in the field of petroleum, discuss technical and financial arrangements, increase oil production and the challenges that faced implementation of previous agreements between the two countries in this regard. A high-level delegation headed by the Undersecretary of the Ministry […]
Four months after starting work at Marsh McLennan, a young woman stood up in a ballroom where hundreds of employees had gathered for an away day and asked what the company was going to do about its fossil fuel work. “There was a smattering of applause,” she recalls with a laugh, but no real answer. […]
President Muhammadu Buhari will unveil the new Nigerian National Petroleum Company Limited, NNPCL on 18th July 2022. The Group Managing Director and CEO of NNPCL, Mele Kyari, stated this on Monday while addressing participants at the ongoing 8th African Petroleum Congress and Exhibition (#CAPEVIII) in Luanda, Angola, according to social media updates by NNPCL. He […]
French multinational oil and gas giant, TotalEnergies has launched the sale of its10 per cent stake in Nigerian joint venture with the Nigerian National Petroleum Company (NNPC) Limited and Shell Petroleum Development Company, (SPDC) and Eni. The oil major appointed Canada’s Scotiabank financial adviser to lead the sale of the assets, a sale document tendering […]
The Mozambican fuel import company, Imopetro, has guaranteed that the importation of liquid fuels is continuing normally, and no interruption in stocks is forecast in the short term. Speaking at a Maputo press conference on 13 May, Imopetro’s Director of Operations, Abiba Amade, stated that the current level of stocks of petroleum products puts Mozambique […]
Amidst raging queues for Premium Motor Spirit (PMS) also called petrol in Abuja and some states, federal government agencies in the petroleum industry, as well as the product marketers, have traded blame on claims of payment and product loading volume. Daily Trust reports that the queues in Abuja resurfaced last weekend when it was observed […]
The federal government has disclosed that French oil major, TotalEnergies EP Nigeria Limited, has invested almost $30 billion in Nigeria’s oil and gas sector within the space of eight years. It said the company had made a lot of investments in developing the country’s oil resources since it began operation in the last 60 years. […]
THERE are indications that despite the rise in crude oil prices in the international market, Nigeria’s economy may not reap the benefits due to the continued increase in theft and pipeline vandalism estimated to have gulped 73 million barrels a year. Investigations by Sunday Vanguard revealed that the country loses about $7.3 billion a year […]
The company’s findings were confirmed from a rigorous hydrocarbon exploration campaign it conducted in the Sierra Leonean basin The Innoson Oil & Gas limited announced Saturday it is on the verge of discovering a huge deposit of 8.2 trillion cubic feet (TCF) and 234 MMbbl of gas and condensate in its Sierra Leonean basin. A […]
Oil is an essential commodity for Kenya’s transport and industrial production, electricity generation and water provision. In 2008, as the world grappled with high oil prices, Kenya introduced price controls to cushion the blow for its citizens. The controls worked for over 10 years. But, since the start of April, there have been intermittent fuel […]
The Organisation of Petroleum Exporting Countries, OPEC, has put Nigeria’s oil output at 1.3 million barrels per day, bpd, in April 2022. This showed a decrease of 13.3 percent compared to 1.5 million bpd recorded in the corresponding period of 2021. Despite the low output, Nigeria remains the highest producer in Africa, while Equatorial Guinea […]
Cabinet has given the go ahead for the implementation of South Africa’s Liquefied Petroleum Gas (LP Gas) Strategy to be implemented. This was announced on Thursday by Minister in the Presidency, Mondli Gungubele, during a briefing on the outcomes of Wednesday’s Cabinet meeting. The strategy – when implemented – is expected to bring some relief […]
THE Petroleum Upstream Regulatory Authority (PURA) is determined to increase participation of Tanzanians in the extraction sector through building capacity to enable the locals exploit opportunities in natural gas value chain. At the ongoing Fourth Exhibition of Funds and Economic Empowerment Programme in Morogoro region,the regulator said it was planning to empower citizens through a […]
Group Managing Director (GMD) of the Nigerian National Petroleum Company (NNPC) Limited, Mr. Mele Kyari, yesterday told the House of Representatives Adhoc Committee investigating the state of refineries in Nigeria that 25 years of bad management was responsible for the poor state of the country’s refineries. Speaker of the House, Hon. Femi Gbajabiamila, had on […]
Oil marketers under the aegis of Major Oil Marketers Association of Nigeria (MOMAN) have faulted airline operators’ claim of buying aviation fuel at N700 per litre. The airline operators, under the aegis of Airline Operators of Nigeria, AON, had cited the high cost of aviation fuel of N700 per litre as a major reason for […]