The drop in the price of crude could adversely affect the insurance industry, given the fact that insurance thrives when the economy is robust, experts have said. President of the Nigerian Council of Registered Insurance Brokers, NCRIB, Mr. Ayodapo Shoderu, who made the assertion, noted that at the level of the common man, the devalued naira will reduce the disposable income of Nigerians, further precluding them to care less about undertaking insurance.

Eunisell Solutions, an indigenous oil and gas company has reaffirmed its resolve towards the provision of solution-based services to ensure the acceleration of oil production in marginal fields.

Except urgent and immediate steps are taken, Nigeria’s quest to have sufficient refining capacity may not be achieved soon as being anticipated, because none of the fluid catalytic cracking, FCC units in all the refineries is working, investigation has shown.

By Jim Rex-LAWSON MOSES Kerosene is an oil distillate commonly used as a fuel or solvent. It is a thin, clear liquid consisting of a mixture of hydrocarbons that boil between 302°F and 527°F (150°C and 275°C). While kerosene can be extracted from coal, oil shale, and wood, it is primarily derived from refined petroleum. […]

With the addition of the 220 megawatts from the newly rehabilitated Egbin turbine, many residents in Lagos are still frustrated by the poor electricity supply and its adverse impact on their businesses. Sweetcrude learnt that while some areas in Lagos continue to groan in darkness, others are luckier and enjoy more than 12hours daily supply.

Layi Fatona is the Managing Director of Niger Delta Exploration and Production Plc, Nigeria’s foremost indigenous and independent operator of small to medium sized fields. He was the guest speaker at the Lagos oil club, where he enunciated the operations of the company in the last 10 years. He spoke to Sweetcrude on the sidelines as reported by Sebastine Obasi. Excerpts:

The Executive Secretary, Major Oil Marketers Association of Nigeria, MOMAN, Mr. Obafemi Olawore, last week intimated journalists about efforts between government and oil marketers to avert fuel supply shortages. Clara Nwachukwu was there. Excerpts:

The continuous decline in the prices of crude oil in the international market in addition to throwing up a number of challenges for the Nigerian economy, has also brought up yet another controversial issue the issue of petroleum subsidy removal.

Experts and stakeholders in the nation’s oil and gas industry have cautioned government on the need to implement policies that would put the industry on a good pedestal in 2015.

The Federal Government has approved the release of first quarter (Q1) 2015 allocation to marketers for the importation of petroleum products into the country. A statement issued by the Petroleum Products Pricing Regulatory Agency (PPPRA), said the early release is in furtherance of the government’s resolve at ensuring continuous products supply in the system, aimed at sustaining the serenity in the downstream industry.