Category Archives: Oil&Gas

NLNG: Federal Government committed to Train-7 commencement –Finance Minister

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The Minister of Finance, Mrs Kemi Adeosun, says the Federal Government is committed to supporting the commencement of the Train-7 initiative of the Nigerian Liquefied Natural Gas (NLNG) plant. Adeosun stated this on Sunday during a visit to the NLNG plant in Finima, Bonny Local Government Area of Rivers state, Southern Nigeria. She said the most […]

Fed Govt mulls VAT removal on locally produced LPG

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The Federal Government is working with relevant agencies to remove the controversial value added tax (VAT) from locally produced liquefied petroleum gas (LPG), commonly called cooking gas,  The Nation learnt at the weekend. There has been effort from operators in the LPG subsector of the oil and gas industry to persuade the government to remove VAT from […]

NNPC chief urges firms to diversify

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The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, has called on stakeholders in the oil and gas industry to explore other areas to boost economic diversification. Baru spoke at the 2018 Nigerian Annual International Conference and Exhibition (NAICE) of the Society of Petroleum Engineers (SPE) Nigeria Council titled: Diversification of the Nigerian […]

Conoil grows first half profit by 29%

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Conoil Plc recorded double-digit growths in sales and profitability in the first half of this year, with pre-tax profit rising by 29 per cent to N809.78 million within the six-month period. Key extracts of the interim report and accounts of Conoil for the period ended June 30, 2018 released yesterday at the Nigerian Stock Exchange […]

Dangote refinery’ll boost Nigerian crude oil sale – Edwin

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The Group Executive Director, Dangote Industries Limited, Devakumar Edwin, has said the oil refinery being built by the company will provide a ready market for the nation’s crude oil. Edwin was quoted in a statement as saying that the construction of the 650,000 barrels per day refinery would help Nigeria save over $7.5bn through import […]

PENGASSAN Addax branch gets chair

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Members of the Petroleum and Natural  Gas Senior Staff Association of Nigeria (PENGASSAN) in Addax Petroleum have elected Comrade Chris Ogiemwonyi Jnr. chairman for a second term of three years. Ogiemwonyi Jnr. was unanimously chosen as the chair through a consensus by delegates during the branch’s fifth Triennial Delegates Conference in Lagos. Other members of […]

Nigeria seeks World Bank support to boost power supply

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World Bank

The Minister of Finance, Mrs Kemi Adeosun, has called on the World Bank to support the country in addressing challenges in the power sector. The minister made the call during a meeting with the World Bank’s Vice President for Africa, Mr Hafez Ghanem in Abuja. Adeosun said that the World Bank had enough expertise in […]

N3.8tn lost to oil theft in 2016 – NNRC

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The Nigeria Natural Resource Charter on Tuesday revealed findings of its latest report on crude oil theft and stated that the country lost about N3.8tn as a result of the menace two years ago, which was under the current administration of President Muhammadu Buhari. It also stated that the estimated value of the total losses […]

Shell to make final investment call on Nigeria’s oilfield

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Royal Dutch Shell and its partners will decide on whether to go ahead with the development of Nigeria’s Bonga Southwest offshore oilfield in 2019. The Managing Director of Shell Nigeria Exploration and Production Company, Mr Bayo Ojuli said that the project, one of the country’s largest with an expected production of 180,000 barrels per day, would […]

Buhari to inaugurate 69km Warri-Escravos road soon

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The Niger Delta Development Commission says plans have reached an advanced stage for President Muhammadu Buhari to inaugurate the construction of a 69-kilometre road network that will link Warri to the Nigeria Maritime University, Okerenkoko, and the Escravos terminal in Warri South West Council Area of Delta State. The Executive Director, Projects, NDDC, Mr Samuel […]