Category Archives: Oil&Gas

Waltersmith begins construction of 5,000bpd refinery

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Waltersmith Refining and Petrochemical Company Limited has expressed its readiness to contribute about 271 million litres of refined products annually towards the development of Nigeria’s economy. The Chairman and Chief Executive Officer, Waltersmith Petroman Oil Limited, Mr Abdulrazaq Isa, said the modular refinery being built by the firm would create direct and indirect employment as […]

NNPC Embarks on Multibillion Healthcare Venture to Curtail Medical Tourism

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2.    NNPC Moves To Curtail Medical Tourism With Multibillion Naira Healthcare Venture By Andy Nssien The Nigerian National Petroleum Corporation (NNPC) has teed-off a major national healthcare intervention project designed to halt medical tourism to foreign destinations through the provision of state-of-the-art hospitals and diagnostic centres across the country. Details of the medical venture plans published […]

Oil Exports To Hit Six-Month High in November

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Udo ONYEKA Nigeria’s oil exports will may hit its  highest point in six months in November, led in part by an increase in supply of the country’s four largest crude grades, according to loading programmes. Total loadings of Nigerian crude will rise to 1.876 million barrels per day in November, from October’s 1.652 million bpd. […]

Global Markets-Oil races toward $100 as stocks inch off 3-week lows

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Fresh sparring between Washington and Beijing over trade kept world stocks close to three-week lows on Wednesday, while a slight dollar pullback gave little respite to emerging markets, Indian rupee plumbied new record lows. Oil prices extended to 80 dollars a barrel as Hurricane Florence advanced and U.S. sanctions started weighing on Iran’s exports. Analyst […]

ExxonMobil: blockade threatens Nigeria’s oil production

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  Oil giant ExxonMobil has decried the blockade mounted by its former employees around its facilities in Nigeria. The oil firm said the activity threatens crude production and such “disruptions to these operations have the potential to significantly impact revenues.” It said the blockade was characterised by playing of loud music, defacing of company facilities […]

Oil marketers pledge support to curb pipeline vandalism

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The Independent Petroleum Marketers Association of Nigeria (IPMAN) on Thursday pledged  to work with the Nigerian National Petroleum Corporation (NNPC) to curb pipeline vandalism. Alhaji Ayo Alanamu, the IPMAN Chairman in Ejigbo Satellite Depot,  gave the assurance in an interview in Lagos against the backdrop of frequent pipeline vandalism on the network. A five-member gang […]

NNPC says to establish two condensate refineries

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Nigerian National Petroleum Corporation (NNPC) says it will establish two condensate refineries with a total refining capacity of 200,000 barrels per day. The corporation disclosed this in a statement signed by its spokesman, Mr Ndu Ughamadu, in Abuja on Tuesday. Ughamadu said that the refineries would be located at the Western Forcados Area and Assah North […]

Edo Approves N700m For Modular Refinery Take-Off

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President Muhammadu Buhari

The Edo State Governor is scheduled to accompany President Muhammadu Buhari on an investment tour in China following the federal government’s listing of several Edo State governments’ projects which are backed by Chinese investors, on its itinerary. The Chinese investors-backed big ticked projects in Edo State include the Benin River Port in Gelegele, the Benin […]

Oil Exports to Hit Four-Month High in October

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Nigeria’s oil exports are expected to rise to their highest in four months in October, thanks to supply of several larger grades coming back online following a series of pipeline outages in the last couple of months.  Loadings of Nigerian crude will rise to 1.73 million barrels per day, from September’s 1.41 million bpd. October’s […]

Nigeria considers use of methanol fuel technology

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Nigeria is considering the utilisation of methanol fuel technology to generate electricity and expand the chemical industry. The Minister of Science and Technology, Dr.  Ogbonnaya Onu disclosed this while inaugurating the Technical Committee on Methanol Fuel Technology Implementation programme in Abuja, the nation’s capital. Dr. Onu said that ”the adoption of Methanol would revitalise the country’s weak […]