…………..by Victor Egbo………Nigeria rig count, an index of measuring activities in the upstream sector, has risen on a year-on-year, YoY basis by 27.3 per cent to 14 in July 2023, from 11 in the corresponding period of 2022. But on a month-on-month, MoM basis, the count remains flat at 14 in July 2023, against June 2023. The Organisation of Petroleum ...

Chairman NIPCO Plc ,Chief Bestman Anekwe ; Company Secretary ,Paul Chukwuma Obi and Non – Executive Director ,Ramesh Virwani at the company’s 19th Annual General Meeting held at Abuja Continental Hotel ………by Ben Ndubuwa……. NIPCO PLC, an integrated Oil & Gas company has lauded the Federal Government’s efforts in deepening gas utilization in the country in consonance with global energy ...

President Bola Tinubu has approved the establishment of the Presidential Compressed Natural Gas Initiative (PCNGI), targeting over 11,500 new CNG-enabled vehicles and 55,000 CNG conversion kits for existing PMS-dependent vehicles, while simultaneously bolstering in-country manufacturing, local assembly and expansive job creation in line with the presidential directive in the immediate term. Ajuri Ngelale, Presidential spokesperson made this known in a ...

Seplat Energy has provided an update to the previous announcement regarding the incident involving the Majestic rig. The company stated that contrary to some media reports, the Majestic rig is owned by Depthwize Nigeria Limited and not Seplat. “ As stated in our previous announcement, the rig was in transit to its next drill location at Ovhor. Seplat is the ...

….NLNG Plant Not Shut Down….. ………by Ben Ndubuwa…..The Nigeria Liquefied Natural Gas (NLNG) has said that it has come to it’s notice in a report on 17th August 2023 that the company has been shut down The report titled “NLNG prolonged shutdown threatens gas production,” was published in one of the national newspapers. NLNG is therefore stating that the report ...

…….by Victor Egbo……… In a deft move and to further consolidates Transcorp’s position in the Nigerian power sector, a consortium led by Transcorp Group has acquired 60 per cent stake in Abuja Electricity Distribution Company (AEDC) Following the acquisition, Christopher Ezeafulukwe has been appointed as managing director/chief executive officer (MD/CEO) of AEDC.It is said that Ezeafulukwe, who is currently the ...

Photo: Director Corporate Services NCDMB, Mr. Patrick Obah; Executive Secretary NCDMB, Engr. Simbi Kesiye Wabote and Director Legal Services, Mr. Umar Babangida at the two-day Namibia Oil and Gas Conference held in Windhoek, Namibia. ………by Victor Egbo……. On the heels of remarkable discovery and exploration of oil and gas resources across several countries in Africa, the Nigerian Content Development and ...

……..by Ben Ndubuwa…… The financial inflow from the Nigeria’s extractive industries Oil, gas and solid mineral total $1,376.8 billion. This shows that $741.5 billion for oil and gas, then N635.3 billion from the solid minerals sector between 1999 and 2020, a period of 21 years. NEITI’s Executive Secretary, Ogbonnaya Orji, announced this at a stakeholders’ roundtable meeting in Abuja for ...

…….by Victor Egbo…….. The Nigerian Maritime Administration and Safety Agency (NIMASA) has disclosed that the oil rig, which capsized on Tuesday at Ovhor in Warri, Delta State, had been operating on the nation’s waters illegally since 2016.In a press statement by the Head, Public Relations of the agency, Osagie Edward, on Wednesday, he said the Majestic Rig belonging to Depthwize ...

………..by Victor Egbo………. The Nigerian National Petroleum Corporation (NNPC) Limited has secured a $3 billion emergency crude repayment loan to support the naira and stabilise the foreign exchange market. NNPC Limited secured the crude-for-cash funding from the African Export-Import Bank (Afreximbank) headquarters in Cairo, Egypt. Meanwhile, experts are saying that this loan strategy is a difficult petroleum economic strategy. They ...