Thursday August 28th, 2014
Thursday August 28th, 2014
Latest

Nigeria loses N113bn over low refining capacity

  /   in Sweet Crude 12:59 am   /   Comments

refinery-7

The inability of the four refineries in Nigeria to produce at optimal capacity has continued to impact negatively on the economy of the country, costing the country $706.521 million, about N113.04 billion in February 2014, data obtained from the Nigerian National Petroleum Corporation, NNPC, has revealed

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Cost concerns frustrating oil, gas projects —NNPC

  /   in Sweet Crude   /   Comments

Mr. Andrew Yakubu  GDM NNPC

The former Group Managing Director, the Nigerian National Petroleum Corporation, NNPC, Mr. Andrew Yakubu, recently had a chat with journalists in Uyo, Akwa Ibom State, on the state of affairs in the nation’s petroleum industry. He spoke about a number of issues including the state of the refineries, petroleum industry bill, bunkering, and sundry matters. SEBASTINE OBASI was there

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New power investors still learning the ropes

  /   in Sweet Crude   /   Comments

Light

Nine months after acquiring the unbundled assets of the defunct Power Holding Company of Nigeria, PHCN, the new investors have attributed their inability to improve on power supply situation in the country to lack of understanding of the workings of the sector

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‘Solid minerals hold strong potential for economic diversification’

  /   in Sweet Crude   /   Comments

President Jonathan

The responsibility of steering the ship of theNigerian Geological Survey Agency, now rests on Mr. Alex NdubuisiNwegbu, who was recently appointed the agency’s Director-General. In this interview with GABRIEL EWEPU, he stressed the need to use the mining sector for rapid economic diversification

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Apapa gridlock: Operators berate FG for bad roads

  /   in Sweet Crude   /   Comments

File: Traffic gridlock on Apapa/Oshodi express road, due to slow construction job of the road by Julius Berger and commuter spent sever hours on the road. Photo: Bunmi Azeez

The CHAIRMAN, Seaport Terminal Operators Association of Nigeria, STOAN, Princess Vicky Haastrup, has called on the Federal and Lagos State governments to commence urgent repairs of roads leading into and out of Apapa, as a way of addressing the perennial traffic gridlock currently being experienced in the port city.

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Bayelsa seeks relocation of NOSDRA HQ

  /   in Sweet Crude   /   Comments

Gov Dickson

Bayelsa State has kicked against the siting of the head office of National Oil Spill Detection and Response Agency, NOSDRA, in Abuja, where oil spill and pollution does not take place

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Pipeline Security: New Technology for today’s demanding environment

  /   in Sweet Crude   /   Comments

Gas pipeline

The protection of oil, gas and refined product pipelines against sabotage, illegal tapping, militants and terrorist actions, combined with the detection of leaks and in-line equipment failure, is a high priority in all countries, but has been notoriously difficult to achieve

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Uncertainty clouds marginal fields’ award

  /   in Sweet Crude   /   Comments

oil-gas

Eight months after the unveiling of guidelines for participation in a much-awaited marginal fields bid round, investors’ expectations appear to have been dashed, as there is yet no clear information on the round expected to have been concluded since May

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Lagos spends N300m on gas in 2 years

  /   in Sweet Crude   /   Comments

gas

Lagos State Government has disclosed that it spent about N300 million on the Eko Gas initiative between last year and now.

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Divestment: PENGASSAN seeks listing of IOCs on stock exchange

  /   in Sweet Crude   /   Comments

Divestment in the Nigeria’s oil and gas industry is worrisome due to the level of attendant job losses and other losses that accompany the process. Many of the International Oil Companies, IOCs, operating in the country have sold some of their assets to other interest parties, who may not have the technical and financial wherewithal for the exploration and exploitation activities in the onshore and shallow water production assets.

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Oando oil production hits 50,000 bpd

  /   in Sweet Crude   /   Comments

Federal Government’s quest for strong indigenous participation in the nation’s oil and gas sector has received a boost as Oando Energy Resources, OER, production capacity has reached 50,000 barrels per day, bpd.
The development follows Oando’s completion of the acquisition of the Nigerian upstream oil and gas business of ConocoPhillips at the sum of $1.5 billion.

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IKEDC opens online payment platform

  /   in Sweet Crude 8:29 pm   /   Comments

Ikeja Electricity Distribution Company, IKEDC, said it has created an online platform to facilitate secure, convenient and more efficient payment options for IKEDC post-paid customers, for both energy and non-energy related bills

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Renewable energy insurance spend to triple by 2020

  /   in Sweet Crude   /   Comments

The renewable energy industry could be spending three times as much on insurance every year by 2020, to mitigate risks to projects, according to a new report by Bloomberg New Energy Finance sponsored by Swiss Re.
The report looked at six of the world’s leading markets for solar and wind, including Australia, China, France, Germany, the United Kingdom and the United States

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Subsidy regime of controversy

  /   in Sweet Crude 1:55 am   /   Comments

Fuel-dispenser

MICHAEL EBOH A of years now the Federal Government has mused over the removal of subsidy on some petroleum products, notably, premium motor spirit, PMS or petrol and household kerosene, HHK, simply called kerosene. Datelines have been pushed yearly, and now pegged at 2015. However, attempts to remove the fuel subsidy, supported through the Petroleum

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There are no price tags on our assets -Shell

  /   in Sweet Crude   /   Comments

pg-10

Last week, the Managing Director, Shell Petroleum Development Company, SPDC, and Country Chair, Shell Companies in Nigeria, Mr. Mutiu Sunmonu, reiterated that the company has not put any price tags on any of the oil blocks it is divesting from. Clara Nwachukwu captured the interactive session with journalists, during which he also spoke on varied

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Gazprom rejects Ukraine gas pipeline proposal

  /   in Sweet Crude   /   Comments

oil-gas

Gazprom has shrugged off a Ukrainian proposal to bring in Western companies to invest in the natural gas pipeline which crosses the country, saying other transit routes bypassing Ukraine still promised to make the pipeline redundant.

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Drilling: Using high power lasers for oil, gas wells

  /   in Sweet Crude   /   Comments

A refinery

Laser drilling may be key to make previously uneconomic oil or gas deposits commercially attractive as Argonne National Laboratory (Laser Applications Laboratory) and a group of collaborators are examining the feasibility of adapting high-power laser technology to drilling for gas and oil. The initial phase is designed to establish a scientific basis for developing a

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Metering: NAPE seeks transparency in oil sector

  /   in Sweet Crude   /   Comments

Gas pipeline

The Nigerian Association of Petroleum Explorationists, NAPE, has announced plans to contribute to efforts aimed at bringing about a significant improvement in Nigeria’s crude oil production through the entrenchment of effective meeting and transparent oil and gas accounting system.

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FG to commence refineries’ sale after PIB passage

  /   in Sweet Crude   /   Comments

refinery 7

The Federal Government has disclosed that it will commence the privatisation of the country’s refineries and concessioning of pipelines and depots immediately the Petroleum Industry Bill, PIB, is passed into law.

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NALPGAM urges FG to back gas as cooking fuel

  /   in Sweet Crude   /   Comments

Gas-energy

The President of National Association of Liquefied Petroleum Gas Marketers NALPGAM, Mr Basil Ogbuanu, has appealed to Federal Government to initiate sustainable polices that will boost the use of gas as cooking fuel in Nigeria.

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Enugu DISCO critical to Southeast economic growth —Soludo

  /   in Sweet Crude   /   Comments

The former Governor of Central Bank of Nigeria (CBN), Mr. Charles Soludo, has said that the reinforcement of the Enugu Electricity Distribution Company (EEDC), is critical to the economic growth of the South-East geopolitical zone.

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NEITI sets 2015 target for audit automation project

  /   in Sweet Crude   /   Comments

The Executive Secretary of the Nigerian Extractive Industries Transparency Initiative, NEITI, Mrs. Zainab Ahmed, said the transparency watchdog is set to implement its audit automation in 2015, to achieve reliable and efficient results.

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Banks cautious over investing in solid minerals —NGSA

  /   in Sweet Crude   /   Comments

FOLLOWING poor interests expressed by investors to invest in the solid minerals sector, banks in Nigeria have been cautious over funding investments in the sector.

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Chevron partners Bayelsa Govt on HIV/AIDS

  /   in Sweet Crude   /   Comments

Attempt by the Bayelsa State Government to curb the spread of HIV/AIDS in the state has received a boost as the Nigerian unit of America’s oil giant, Chevron Nigeria Limited, CNL, has donated about $1.7million to battle the scourge in the predominantly riverine state.

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FG boosts miners’ confidence with geosciences lab

  /   in Sweet Crude   /   Comments

THE federal government recently gave a boost to miners’ confidence with the re-launch and sensitisation workshop on the existence of the Nigeria Geosciences Research Laboratory, NGRL, Kaduna

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Build more IPPs, FG urged

  /   in Sweet Crude   /   Comments

ENERG

The federal government has been told that building of more independent power plants, IPPs, would solve Nigeria’s power challenges as well as provide the much needed support for economic growth, and guarantee returns on investments.

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PENGASSAN warns against exploitative employment

  /   in Sweet Crude   /   Comments

PETROLEUM and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, has put the government and employers in the sector on notice that it will not hesitate to shut down the Petroleum Industry, should the emerging employment policy in the sector be found to be exploitative with the tendency to degrade jobs.

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Local content: GE harps on capacity development

  /   in Sweet Crude 11:34 pm   /   Comments

Offshore gas facility

General Electric, GE Nigeria has emphasized the need to improve on the skills and capacity of indigenous workers in the Nigerian oil and gas sector, especially in the area of technology, so as to empower them to tackle the industry challenges.

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Labour demands time frame to end fuel importation

  /   in Sweet Crude   /   Comments

Apapa Oshodi road completely shut down

ORGANISED labour in the nation’s petroleum industry, has called on the Federal Government to give Nigerians a definite time frame to end fuel importation and gas flaring in the country.

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FG rakes in N26.9bn from solid minerals in 2011

  /   in Sweet Crude   /   Comments

Solid minerals

The Nigeria Extractive Industries Transparency Initiative, NEITI, has announced that the Federal Government earned a total of N26.9 billion from solid minerals in 2011.

The Executive Secretary of NEITI, Mrs. Zainab Ahmed, who disclosed this at the public presentation of 2011 Solid Minerals Industry Audit Report in Abuja, said, out of this amount, a total sum of N26.8 billion represents funds paid by companies.

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Nigeria gets bulb recycling plant

  /   in Sweet Crude   /   Comments

Go Green Nigeria, Light up Nigeria, in association with the American bulb giant, Technical Consumer Products, TCP, is set to build West Africa’s first ever compact fluorescent lamp recycling plant in Nigeria.

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Nigerians showcase potential to the world

  /   in Sweet Crude 1:24 am   /   Comments

economy

The 2014 edition of the Offshore Technology Conference, OTC, the biggest annual oil and gas event in the world, which held in Houston, Texas, from May 5 to 8th, brought to the fore the growing importance of Nigerian companies in the oil and gas industry.

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