Upstream

NNPC/Chevron joint venture has set in motion all the necessary measures that will enable it to achieve a cumulative barrel equivalent of hydrocarbon production of up to 450,000 per day in about two years. Bala Wunti, managing director of the NNPC Upstream Investment Management Services (NUIM), disclosed this in an interview he had with Channels Television. This follows the recent ...

The Nigerian Association of Energy Correspondents (NAEC) is set to host its flagship annual conference on Thursday, October 3, 2024, at Eko Hotel and Suites, Victoria Island, Lagos. The event, which begins at 9 a.m., will bring together key players in Nigeria’s energy sector to deliberate on critical developments in the oil, gas, power, and renewable energy industries. The theme ...

Vice President Kashim Shettima has welcomed ExxonMobil’s proposed $10 billion investment in Nigeria’s deepwater oil operations, describing it as a clear testament to the Tinubu administration’s economic reforms and investment-friendly policies. This is coming just as the international maritime giant, DP World, has announced plans to develop a multi-billion dollar port project in Nigeria. According to a statement by his ...

……Wants FG to Acquire More Equity Stake in Dangote Refinery…. ………by Ben Ndubuwa…….. The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has said that the growing trend of divestment by International Oil Companies (IOCs) in Nigeria, needs strategic shifts that prioritize local empowerment and innovation. PENGASSAN cautioned that while divestments can present opportunities for the Nigerian economy, ...

…Leafcutter empowers users in asset intensive industries with data intelligence at scale to achieve operational excellence.. ……..by victor Egbo…… Radix, a global technology solutions company, at the forefront of industrial digital transformation, announces the launch of Radix Leafcutter, an Intelligent Industrial Data Solution designed to empower organizations with the insights needed to achieve operational excellence.  Leafcutter streamlines data management and integrates ...

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has refuted claims that it approved Shell International Plc’s sale of its onshore assets to Renaissance for $1.3 billion. In a statement signed by Mrs. Olaide Shonola, NUPRC’s Head of Public Affairs and Corporate Communication, the Commission addressed a report which suggested that regulatory approval had been granted for the transaction. NUPRC emphasized ...

Photo R-L: GCEO NNPC Ltd, Mr. Mele Kyari and Director, Deepwater and Production Sharing Contract (PSC) of Chevron Nigeria Limited (CNL), Mrs. Michelle Pflueger, sign documents during a ceremony on conversion of the NNPC/CNL JV assets into PIA terms, held at the NNPC Towers in Abuja, on Monday. Watching with keen interest is the Business Advisor (Upstream) to the GCEO ...

Africa Oil, a partner in the TotalEnergies-operated Akpo and Egina fields offshore Nigeria, has said that the commitment for a drilling rig working offshore Nigeria has been extended. This the company explained would allow drilling to continue across Akpo and Egina through 2025. The companies have been conducting infill drilling at these fields with Noble Corp’s 3,658-m drillship Noble Gerry ...

Exxon Mobil said on Monday it expects crude demand to stay above 100 million barrels per day (bpd) through 2050, similar to today’s levels, a forecast 25% higher than top European rival BP (BP.L). The stronger demand, projected by the largest U.S. oil company in its latest global oil outlook underpins Exxon’s production growth plans, the most ambitious among Western ...

There are strong indication that the move by Shell International Plc to transfer its $1.3 billion worth of shares from onshore assets to Renaissance may sail through as it receives presidential boost even though the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) is yet to give its approval citing technical and financial capabilities as key to allow the deal to go ...