By Jimitota Onoyume PORT HARCOURT – OWNER of the first indigenous oil and gas drilling company in Nigeria, Lonestar Drilling Nigeria limited, Chief Humphrey Irikefe Saturday Idisi, is dead. A statement issued by his Lonestar firm in Port Harcourt and signed by the company’s secretary, Mr. Kunle Ovo Edun said the oil magnate died at […]

Deepwater operations in the Gulf of Guinea is set to be boosted by the activities of the Society for Underwater Technology (SUT) which recently established the Sub-Saharan Africa Branch with headquarters in Lagos, Nigeria. First on their list of specialised activities is to arrange the successful and highly renowned SUT Subsea Awareness Course for individuals […]

Nigeria has been re elected Council member of the International Maritime Organisation(IMO) in category ‘C’ at the election which took place at the on-going 26th Regular Session of the IMO General Assembly at its Corporate Headquarters in London.

Dresser-Rand will supply advanced turbomachinery for SBM Offshore (SBM) floating, production, storage and offloading (FPSO) vessel destined for Noble Energy’s Aseng Field offshore Equatorial Guinea. Dresser-Rand will supply gas compression and power generation packages. Dresser-Rand will provide 4 DATUM® centrifugal compression trains driven by electric motors and three DR-61G (LM2500) gas turbine generator sets. The […]

By Godwin Oritse THE Lagos Free Trade Zone (LFTZ) project may suffer a major setback if urgent steps are not taken to address the infrastructural needs of the mega  project. The promoters of the project led by LFTZ’s Group Managing Director, Me Haresh Aswani said that the non-expansion of roads and provision of rail networks […]

The President of the Chartered Institute of Taxation of Nigeria (CITN), Prince Kunle Quadri, has noted that all levels of government in the country are yet to be aware of enormous advantages of taxation, especially as a major source of revenue.

President Umaru Yar’Adua has approved the appointment of two new deputy commissioners for the insurance industry regulator, National Insurance Commission (NAICOM).

Projects worth N215 million have been inaugurated by Nembe community in Bayelsa State and Shell Petroleum Development Company of Nigeria Ltd (SPDC), the company has disclosed.

The Nigerian National Petroleum Corporation (NNPC) has said that the nation’s crude oil production capacity has recorded a quantum leap in the aftermath of the amnesty programme and the return of peace in the Niger Delta area. The Group Managing Director of the NNPC, Dr. Mohammed Barkindo, who said this during a visit to the […]

…Wants gas flaring to end by Dec. 31, 2010 By Oscarline Onwuemenyi ABUJA – The proposed reform of the nation’s oil and gas sector could get underway with the planned passage of the Petroleum Industry Bill by the National Assembly before the Christmas holidays begin. This position was disclosed on Tuesday by the Chairman of […]

By Babatunde Fashakin Let’s not kid ourselves, things are not bad….they are extremely bad! We are in a situation of denial, our economic power has dwindled, our confidence shaken, and our fate hijacked. The current situation of the oil and gas industry has turned and for the worse. We have an industry bill that has […]

By Innocent Edemhanria For some years now, the Niger Delta has been literally turned to a war zone as militants held the nation to ransom. From their various camps in the Niger Delta creeks, the militants who were armed to the teeth, destroyed vital oil installations and kidnapped expatriate oil worker, most of who have […]

By  Patience Saghana In line with government objective to discourage monopoly in business community coupled with level playing field that now abound in the insurance sector, Custodian and Allied Insurance Company has won the Nigerian National Petroleum Corporation’s Consolidated Insurance Policy (NNPC-CIP) for 2010/2011. Vanguard can authoritative revealed that Custodian and Allied Insurance won the […]

By Ifeanyi Ugwuadu Year-end signals from the insurance sub-sector indicate that the Nigerian insurance market will key into a government-backed growth initiative in the energy sector to expand participation in the energy sector and grow premium income. A growth strategy unveiled by the industry regulator in its Market Development and Restructuring Initiative identified Nigerian Content […]