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Nigeria loses N19.6bn as oil firms flare 18bscf of gas

On May 21, 20194:17 amIn Energy, Newsby Urowayino WaramiComments

Nigeria lost $64.05 million, an equivalent of N19.6 billion, to gas flaring in one month, as oil and gas firms operating in the country flared 18.30 billion Standard Cubic Feet (SCF) of gas in January 2019, according to data obtained from the Nigerian National Petroleum Corporation, NNPC.

Price of Bonny Light drops to $73.58 as OPEC plans to stabilise market

On May 21, 20193:19 amIn Energy, Newsby Urowayino WaramiComments

THE price of Bonny Light, Nigeria’s premium oil grade has dropped from $74.00 to $73.58 as the Organisation of Petroleum Exporting Countries, OPEC, plans action to achieve market stability.

Seplat takes FID on 160,000bopd alternate export pipeline

On May 21, 20192:20 amIn Energy, Newsby Urowayino WaramiComments

Seplat Petroleum Development Company Plc, has taken a Final Investment Decision, FID, for Amukpe to Escravos 160,000 barrels of oil per day, (bopd), alternate export pipeline. This will provide a third export option for liquids production at Oil Mining Licences, OMLs, 4, 38 and 41 and will be coming on stream in the second quarter of 2019, Q2’19.

Invest $17bn yearly to increase oil reserves, Aye tells FG, others

On May 14, 20194:36 amIn Energy, Newsby Urowayino WaramiComments

Nigeria has been tasked to invest at least $17 billion yearly in order to make new oil and gas finds, targeted at increasing production capacity.

IOCs, others raise alarm as vandalism, oil theft rise in Niger Delta

On May 14, 20194:36 amIn Energy, Newsby Urowayino WaramiComments

THERE are indications that Nigeria has lost significant oil as a result of increasing pipeline vandalism and oil theft in the Nigeria Delta.

We need functional SCADA to prevent grid collapse -TCN

On May 14, 20193:57 amIn Energy, Newsby Urowayino WaramiComments

THE Transmission Company of Nigeria, TCN, has made a case for functional SCADA in order to prevent a repeat of the nationwide blackout experienced last week’s Wednesday and Thursday in most parts of the country following multiple tripping of the transmission line along Onitsha substation in Anambra State.

Deep Blue Project to tackle criminality on Nigeria’s waterway- NIMASA DG

On May 14, 20193:57 amIn Energy, Newsby Urowayino WaramiComments

There is hope in the horizon for the high level of insecurity in Nigeria’s waterways as the Nigerian Maritime Administration and Safety Agency (NIMASA), has established the Integrated Security and Waterways Protection Infrastructure known as Deep Blue Project to drastically reduce criminalities in the Gulf of Guinea.