petroleum
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Featured
Former chairman of China petroleum chief arrested for bribery
The Supreme People’s Procuratorate (SPP) has ordered the arrest of Wang Yilin, former Chairman of the China National Petroleum Corporation (CNPC), on suspicion of bribery, the SPP said on Wednesday. The case of Wang, who is also a former secretary of the leading Party members group of the CNPC, was handed over to prosecutors for examination. He will be examined…
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Featured
Nigeria, Equatorial Guinea to sign agreements on petroleum resources, security
President Bola Tinubu has arrived Malabo, the capital of Equatorial Guinea, for a three-day official visit, which will include signing of petroleum resources, security agreement. President Tinubu, who arrived the Presidential Wing of the Malabo International Airport at about 2.07 p.m., was received by the Prime Minister of the country, Manuela Botey. A statement by Chief Ajuri Ngelale, the President’s…
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Featured
Can 10th National Assembly lay petroleum industry challenges to rest?
Nigeria is a leading producer of crude in Africa and a major crude exporter in the world. Oil receipts are the major source of revenue source for the country, contributing more than 80 per cent of the country’s income. Available records from the Statista showed that Nigeria’s crude oil reserves stood at 36.9 billion barrels and valued at roughly 74…
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Defence
I-G appoints new commander for Petroleum Task Force
The Inspector-General of Police (I-G), Mr Kayode Egbetokun, has appointed Mr Bayonle Sulaiman, a Deputy Commissioner of Police (DCP), as the new Commander of the Petroleum Task Force. The Force Public Relations Officer, ACP Olumuyiwa Adejobi, said this in a statement on Thursday in Abuja. He said Sulaiman’s appointment as the new Commander of the Special Task Force on Petroleum…
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Featured
Stakeholders commend FG for reviving Port Harcourt Refinery
Some stakeholders in oil and gas industry have commended the Federal Government for revamping the Port Harcourt Refinery, expected to begin partial operation in the first quarter of the year. The stakeholders who spoke with the News Agency of Nigeria (NAN) in Lagos on Thursday, also lauded the initiative geared towards eliminating fuel importation. NAN reports that the Minister of…
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Featured
FG reiterates commitment to eradicating petroleum products smuggling, others
The Minister of State for Petroleum Resources, Mr Timipre Sylva says the Federal Government is committed to eradicating smuggling of Premium Motor Spirit (PMS). This according to him is to ensure energy sufficiency in Nigeria. According to the News Agency of Nigeria (NAN),Sylva who said this at the 16th Edition of the President Muhammadu Buhari Score Card Series in Abuja,…
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NEWS
TotalEnergies targets 50% gas energy mix by 2030
The Executive Director Commercial and Strategy of TotalEnergies, Mr George Oguachuba, says the company targets a 50 per cent gas energy mix by 2030. Oguachuba made this known at a panel discussion at the 4th Nigeria International Petroleum Summit in Abuja on Thursday. ”As a company and a business, the strategy is to become more and more as a company…
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Energy & Environment
Savannah announces cash flows for 2019
Savannah reported $16.9 million of gas sales and $0.9mn of liquids sales in 2019. Production in Nigeria reached 17,200 barrels of oil equivalent per day on a full year basis, up from 13,000 boepd in the previous year. “We completed the Nigerian asset acquisition in November 2019, which transformed Savannah into a highly cash flow generative full cycle energy company,”…
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News
Nigeria should curb president’s oil licensing powers – lawmakers
The Nigerian president’s power to grant oil licences should be removed and the government should float 30 percent of the state oil company, lawmakers recommended in a report on a bill aimed at cleaning up the industry in Africa’s top crude producer. An executive summary of the report by the Nigerian House of Representatives committee also said the new bill…
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Energy & Environment
Scarcity: NNPC to import over 1b litres of petrol in March
The Management of the Nigerian National Petroleum Corporation on Monday began fresh measures to halt what it described as artificially induced petrol scarcity noticeable in some parts of the country. To this end, the corporation said it plans to import more than one billion litres of petrol in March to address short fall in supply. The News Agency of Nigeria…
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Energy & Environment
Group calls for probe of oil wells allocation, rains knocks on Danjuma
THE Niger Delta Indigenous Movement for Radical Change in Warri, Delta state has called on the Federal government to as a matter of urgent national importance to set up an enquiry into the allocation of oil wells to some Nigerians including the former Defence Minister, General Theophilus Yakubu Danjuma. In a press statement signed by its President, Nelly Emma; Secretary,…
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