…….by Victor Egbo……..Austin Avuru, Executive Chairman of AA Holdings, has stated that Nigeria will need about $25 billion of annual investment in the next ten years if it is committed to achieving crude oil output of 4 million barrels per day and 3 billion cubic feet per day of domestic gas production. Avuru made this known during a panel session ...

The federal government is set to distribute 1.25 smart meters to electricity consumers under the Phase 2 of the National Mass Metering Programme (NMMP).The special adviser to President Bola Tinubu on Energy, Olu A. Verheijen, who made this known yesterday, said the procurement process for the phase involving 1.25 million pre-paid meters, is beginning this month.Verheijen reiterated the federal government’s ...

Photo: Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote, senior personnel of NCDMB’s Zonal Coordination & Communication Division with the Executive of the Guild of Online Corporate Publishers (GOCOP) at the breakfast meeting organised by the Board for members of the Guild on Tuesday in Abuja. The ongoing and planned divestments of onshore assets by ...

The ongoing and planned divestments of onshore assets by some international operating oil and gas companies (IOCs) and subsequent acquisition by Nigerian operating companiesmust not be allowed to impact negatively on the level of compliance with the Nigerian Oil and Gas Industry Content Development (NOGICD) Act and remittance of tax revenues to the Federal Government, the Executive Secretary of the ...

………..by Ben Ndubuwa…….The Nigerian Upstream Regulatory Commission (NUPRC) is now set to rein in oil theft using advance technology on cargo declaration. NUPRIC said that the introduction of Advanced Cargo Declaration regime in upstream petroleum operations is to arrest oil theft and curtail export of stolen crude oil. Mr Gbenga Komolafe, the Commission Chief Executive of NUPRC, said this at ...

……….by Victor Egbo…….Major Oil Marketers Association of Nigeria (MOMAN) has pleaded caution on the part of the federal governmentnot not to return subsidy on petroleum products. This move to partially return subsidy by the government is said to be understandable given the need to curb rising cost of Premium Motor Spirit (PMS) otherwise known as petrol. MOMAN pointed out that ...

Saipem’s Head of LNG Technology, Sergio Armenante has said that Africa is a prominent Liquefied Natural Gas (LNG) market, noting that the company has a consistent track record of EPC projects executed in various African countries as well as participating in almost all the continent’s LNG project developments over the last 10 years. Speaking in an exclusive interview with The ...

Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo (2nd left); Group CEO, NNPCL, Mele Kyari (3rd left); Executive Vice President (EVC), Gas, Power and New Energy, NNPCL, Olalekan Ogunleye (left) and EVP Upstream, Oritsemeyiwa Eyesan (right) at the ADIPEC 2023 in Abu Dhabi, United Arab Emirates on Tuesday. Minister of State Petroleum Resources (Gas), Mr. Ekperikpe Ekpo, has ...

Photo: Rick Kennedy, Chairman/Managing Director, Chevron Nigeria Limited ……by Ben Ndubuwa…….. As Nigeria celebrates her 63rd independence anniversary, Chevron companies in Nigeria are proud of our partnership and contribution to the social and economic development of the country. In its six decades of operation in Nigeria, Chevron Nigeria has continued to make significant investments in the country that have helped ...

……….by Ben Ndubuwa……..Savannah Energy PLC, a British firm has announced its unaudited half-year results for the six months ended 30 June 2023.The H1 2023 Unaudited Financial Results showed that the company’s total revenue grew 8% to US$138.7 million, compared to US$128.7 million in H1 2022. Adjusted EBITDA likewise increased by 8% to US108.2 million (H1 2022: US$100.3 million), and adjusted ...