Nigeria, E/Guinea consider new oil, gas opportunities
THE Governments of Nigeria and the Republic of Equatorial Guinea, yesterday, considered the establishment of a joint logistics base, deployment of indigenous capacities across countries, and lowering the costs of major oil and gas operations.
New operating consortium promises Nigeria better value from 4 oil assets
Kaztec Engineering Limited and Salvic Petroleum Resources consortium have promised to offer Nigeria better value in terms of increased revenue, local content boost, and more employment opportunity as they take over the operatorship of the Oil Mining Leases (OMLs) 123, 124, 126 and 137 previously operated by Addax Petroleum.
COVID: FG may miss N2trn oil revenue target — Agusto Consulting
There are indications that the Federal Government may not meet the N2.01 trillion oil and gas revenue target as encapsulated in the 2021 budget over low energy consumption occasioned by the Covid-19 pandemic, according to an expert.
FG revokes 4 Addax Petroleum’s Operating Mining Leases
THE Federal government has revoked four Oil Mining Leases, OMLs belonging to Addax Petroleum Nigeria Limited citing inability to comply with work programme targets.
Nigeria oil production falls by 10.25%
By Obas Esiedesa Nigeria’s total crude oil and condensate production from January to October 2020 fell by 10.25 percent when compared to similar period in 2019, latest data from the Nigerian National Petroleum Corporation, NNPC, has shown. Data contained in the NNPC monthly financial and operational report for November 2020 showed that for the eight […]
Oil/Gas: Nigeria loses billions of Naira as dockyards capacity drops to 15% — Investigation
By Udeme Akpan There are indications that the capacity utilisation of oil and gas dockyards in Nigeria has dropped to 15 per cent as a result of relatively low oil prices in the global oil market. This appears to be very significant, when the over 60 per cent capacity utilisation of the dockyards in 2014 […]
