Category Archives: Oil&Gas

“Nigeria can generate 3,000MW from flared gas” – DPR report

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The Department of Petroleum Resources (DPR ) in Nigeria has revealed that additional 3,000 megawatts of electricity can be generated from the current gas being flared in the country. This is contained in DPR’s report made available at a workshop organised for energy journalists in Lagos state. The report which explained routine gas flaring as […]

Baru says NNPC to create 5 million jobs

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The Nigerian National Petroleum Corporation (NNPC), has pledged to create over five million jobs through the development of renewable energy sector in the country. The Group Managing Director of the NNPC, Dr Maikanti Baru, said this in a lecture he gave at the 12th Mechanical Engineers Distinguished Lecture organised by the Nigerian Institution of Mechanical […]

FG plans construct of 150,000 b/d refinery in Katsina

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Nigeria is to construct a 150,000 barrels per day capacity refinery in Katsina State. Minister of State-Petroleum resources, Dr Ibe Kachikwu disclosed this in an interview with Journalists soon after the signing of the Memorandum Of Understanding between Nigeria and Niger Republic on Tuesday at the Presidential Villa, Abuja. “We are constructing a refinery from Niger Republic […]

NNPC: Kaduna, Port Harcourt refineries dormant

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The latest operational performance of the nation’s refineries as released by the Nigerian National Petroleum Corporation shows that two of the plants in Kaduna and Port Harcourt have been dormant. According to the NNPC, while the two refineries cannot refine any crude oil, the one in Warri is performing better, as its capacity utilisation has […]

Nigeria, others to spend $105bn on oil, gas decommissioning

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Nigeria and other oil-producing countries across the world will expend about $105bn on decommissioning in the next 10 years. According to a recent report released by Wood Mackenzie otherwise called WoodMac, between 2018 and 2022, nothing less than $32 billion would be spent on decommissioning around the world. While UK, the US and Norway, were […]

Aiteo, Total, other oil firms get Senate approval for N348bn outstanding subsidy claims

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The Nigerian Senate has approved the payment of =N=348 billion as outstanding subsidy claims to 74 petroleum marketers. This followed adoption of interim report of its Committee on Petroleum (Downstream) on the Promissory Note Programme and a Bond Issuance to Settle Inherited Local Debts and Contractual Obligations to Petroleum Marketers. Out of this amount, 55 oil marketers are […]

Oil Price Slides after OPEC’s Top Producer, Saudi offers extra oil

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Organisation of Petroleum Exporting Countries (OPEC) largest producer, Saudi Arabia, is offering extra oil on top of its contractual volumes to some buyers in its key market-Asia. WTI traded down 3.25 per cent at $68.70, while Brent tslumped 3.40 per cent at $72.77. The country is  boosting oil production to keep markets well-supplied amid disruptions […]

Reps probe N100b ‘under-remittance’ by NNPC

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The House of Representatives has launched an investigation into the earnings of the Nigerian National Petroleum Corporation (NNPC) from since the begining of this year. The lawmakers said the ambiguities surrounding the running of state-owned oil firm made it imperative for the lawmakers to ascertain the volume of production of oil within the period under […]

NNPC eyes 3.4bscfd domestic gas supply

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The Nigerian National Petroleum Corporation (NNPC) plans to deliver about 3.4 billion standard cubic feet per day (bscfd) of domestic gas supply to bridge existing and anticipated supply gap by 2020. Its Group Managing Director, Dr. Maikanti Baru, stated this yesterday in Lagos while delivering his keynote address at the ‘7 Critical Gas Development Projects […]

AfDB okays $12b for energy

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The African Development Bank (AfDB) has committed $12 billion to its New Deal on Energy for Africa programme. Sub-Saharan Africa  has 14 per cent of the world’s population and accounts for four per cent of global energy investment. Analysts at the bank note that several countries, including Ethiopia, Gabon, Ghana and Kenya, are on track […]