OIL

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has said that the turnaround maintenance of the nation’s refineries will be done with finances generated from the private sector. Kachikwu made the information known while fielding questions from journalists in Abuja on Thursday. “We are planning to begin to do well-targeted repairs and turnaround maintenance of some of the ...

The Managing Director of Total Exploration and Production (E & P) in Nigeria,Nicolas Terraz, has said that the current dwindling fortune of the oil industry occasioned by the fall of oil price in the global oil market is an opportunity for the oil companies, IOCs to refocus their operations. This he said should include cutting down the cost of operations ...

As part of its ongoing investigation into the petroleum sector of the economy, the Senate Committee on Gas Resources, has mandated the Nigerian National Petroleum Corporation (NNPC) and its subsidiaries to submit their detailed audited accounts for the past three years, The Sun reports. The committee blamed the Federal Government agencies for the worsening gas flaring in the country, saying ...

The fate of over 2000 workers at federal government oil and gas agencies currently hangs in the balance as there are indications that the government may have concluded plans to release a number of them from active service, this month, The Sun reports. Staff to be affected are expected to come from the Nigerian National Petroleum Corporation (NNPC), Petroleum Products ...

The Nigerian Content Monitoring Board (NCDMB), has said it has concluded plans to promote local content in the nation’s oil and gas industry in 2016, just as oil prices continue to drop in the global market, National Mirror reports. The Executive Secretary of NCDMB, Mr. Denzil Amagbe Kentebe recently indicated that as the country enters into 2016 and so long as ...

The Nigerian National Petroleum Corporation, NNPC has announced the operational shutdown of the Port Harcourt and Kaduna Refineries owing to crude supply challenges arising from recent attacks on vital crude oil pipelines. A statement by the Corporation informed that the plants were shut simultaneously on Sunday after the Bonny – Okrika crude supply line to the Port Harcourt Refinery and ...

The Nigerian Agip Oil Company, NAOC, is responsible for 10 of the 18 oil spill cases in the fourth quarter of 2015, according to data complied by the National Oil Spill Detection and Response Agency, NOSDRA. According to the data, NAOC recorded four spills in October and six in November.Other affected oil companies include Chevron Nigeria, which had two spill ...

The Nigerian National Petroleum Corporation, NNPC, has announced that the nation’s three refineries in Kaduna, Port Harcourt and Warri have attained a combined daily production of over 6.76 million litres of petrol per day which is projected to increase to over 10 million litres per day by the end of January 2016. A statement by the NNPC which gave a ...

The Minister of State for Petroleum Resources and Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Ibe Kachikwu on Thursday dispelled insinuations in some quarters that the Federal Government has concluded plans to increase the pump price of fuel from N87 to N97 per litre as from January 2016.   Speaking during a media parley at the NNPC ...

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has called on member countries of the African Petroleum Producers Association (APPA), to close ranks and bring their influence to bear on the global oil and gas production matrix. Speaking at a media briefing to herald the forthcoming 6th Africa Petroleum Congress and Exhibition (CAPE Vl) billed for Abuja from ...