OIL

by Abisoye Shola…………… A French Firm is to deploy Higher Technology to BUA Group 200,000 barrels per day planned refinery and petrochemical plant in Akwa Ibom State. The refinery is to be constructed by Axen, one of the French largest hydrocarbon firm. Axen was given the contract to license key refinery technologies to the BUA Group. The technology to be ...

by James Ikenna…………………. Chairman’s and Chief Executive Officer, Lekoil Limited, Lekan Akinyanmi has said that the priority for for the company in the year 2020 is to advance towards the start of the drilling programmes at both Otakikpo and Ogo in OPL 310. “The next two years will prove to be transformative and provide key catalysts for value appreciation for ...

The Director General and Chief Executive Officer of Department of Petroleum Resources (DPR), Sarki Auwal has said that with five built refinery plants across the country and seven coming onstream Nigeria will be a net exporter of petroleum products in the next two years. Auwalu disclosed this in Lagos when the Minister of Information and Culture, Alhaji Lai Mohammed paid ...

by Musa Ibrahim………………….. The Nigeria National Petroleum Corporation (NNPC), Group Managing Director (GMD) Engr. Mele Kyari has once again raised concern over the cost of producing crude oil at $35 per barrel while a barrel sales for $45 per barrel a margin of $10 per barrel. This concern over the cost of production was both expressed by GMD and the ...

by Ben Ndubuwa……………….. The Chief Executive Officer, Waltersmith Petroman Oil Limited, Chikezie Nwosu has said that the modular refinery project the company is building in Ohaji/Egbema in Imo State will be commissioned next month September, 2020. Nwosu also said that plans are underway to increase the capacity of the refinery by 25,000 barrels per day in the year 2022. This ...

Refinery and Petrochemical Company Limited (ERPC), operator of Edo Modular Refinery, is seeking supply of stock to feed into it’s first phase of production and has therefore written to the Nigerian National Petroleum Corporation (NNPC) for the supply of crude oil as it prepares for its first production. ERPC is the first modular refinery in the country to have achieved ...

For the Nigerian Petroleum Industry to move forward in the face of the COVID-19 pandemic, the Nigerian National Petroleum Corporation (NNPC) Group Managing Director, Mallam Mele Kyari, Tuesday, urged the Industry stakeholders to evolve innovative ways to reposition the Sector for sustainability.  The NNPC GMD, speaking at the opening ceremony of the Society of Petroleum Engineers (SPE) Nigeria Energy Industry ...

United States slashed its imports of Nigerian crude oil to 9.37 million barrels in the first five months of this year, 11.67 million barrels lower than what it bought in the same period of 2019. The US imported 21.03 million barrels of Nigeria crude from January to May 2019, according to data obtained from the US Energy Information Administration on ...

Data Democratisation has been identified as a critical enabler of performance excellence towards operating cost reduction in the E&P sector. This was the position of NNPC/IDSL in collaboration with top E&P industry stakeholders during the maiden episode of its webinar series on achieving operational excellence in asset management, themed: Leveraging Data Democratisation to Improve Asset Management Efficiency which held on ...

Chief Timipre Sylva, the Minister of State for Petroleum Resources, said the Federal Government had approved the establishment of Nigeria National Petroleum Corporation (NNPC), oil and gas logistic Centre in Akwa Ibom. Sylva gave the hints at a Gala night organised by the Akwa Ibom Government in honour of a delegation of Stakeholders in the oil and gas industry retreat ...