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MASTERS energy, an indigenous operator in the downstream sector has announced the arrival of its maiden vessel, Victory 1, laden with about 50000Metric tonnes of Automotive Gas Oil (AGO) also called diesel.
UMBRELLA body for senior staff Associations in the country, the Trade Union Union Congress of Nigeria (TUC), has given some essential tips perceived to be paramount for a successful deregulation of the nation's downstream sector of the petroleum industry.
The Nigerian National Petroleum Corporation (NNPC) and the Rivers State Government have pledged to work together to restore production activities at the Shell Petroleum Development Company, SPDC operated Obigbo Gas Plant in Oyigbo Local Government Area of Rivers State.
THE Shell Petroleum Development Company (SPDC) operated Joint Venture produced a total of 512 million standard cubic feet of gas (MMscf/d) in Western Niger Delta on November 18, 2009 representing the highest volume achieved in the last two years.
Plans are underway to put up a solar energy training facility in Nigeria where people can be trained. This is a welcome development because barely one month to the December target date for the attainment of 6,000mw electricity promised the nation by the Federal Government, it has become obvious that it cannot be met as the nation has less than 3,000mw now.
There will be no future electricity rationing in the country, the government has declared.
Energy minister Kiraitu Murungi has declared an end to future power rationing in the country.
ABIA State Government, weekend raised hope that the NNPC depot at Osisioma, near Aba would soon be reopened.
Kenya's electricity crisis could worsen with the evident failure of El-Nino rains that were expected to shore up water levels at the main generating power plant, the Seven Folks Dam.
A NEW developing licence for the Kudu gas field, which is likely to feature Russian natural gas giant Gazprom as a shareholder alongside existing partners Tullow Oil, Itochu Corporation and Namcor, will be announced soon.
Residents of Aso in Mararaba yesterday expressed their displeasure over power outage that has afflicted their community for over eight months.
Chief Ojo Maduekwe, the chairman, ECOWAS Council of Ministers, on Friday, said the transportation of gas from Niger Delta to Benin, Togo and Ghana would begin in 2010.
After pocketing an estimated $600 million as signature bonus as revenue for the Federal Government, the Ministry of Petroleum Resources yesterday renewed three shallow water oil licences jointly operated by the Nigerian National Petroleum Corporation and ExxonMobil, granting the U.S. energy firm leases of a further 20 years with the option to renew again.
Uganda settled for relatively unfavourable terms from agreements she signed with companies currently working the huge oil fields discovered in western Uganda, according to a new report to be released this week.
The opposition parties in Abia State have risen in support of the state government's clamour to have the federal government pay the arrears of royalties accruing from the 64 oil wells recovered for the state and then start reflecting its new status in the monthly revenue allocation.
The irony surrounding the fuel market at the moment is that Nigerians cannot buy more than N1,000 worth of fuel at any given time.
Still basking in the euphoria of its victory over the former chairman of the Nigeria Ports Authority (NPA), Chief Bode George, in court, the Economic and Financial Crimes Commission (EFCC) may just be on its way to prosecuting another set of highly- placed Nigerians, and probably consolidate on its gains in the fight against corruption in the country.
The Rivers State House of Assembly is to hold an international roundtable on how to achieve and surpass the planned 6000 megawatts of power by next month by attracting private partnership into the sector.
A consultant for the Nigerian Extractive Industries Transparency Initiative, NEITI, yesterday disclosed that the deliberate failure of the Nigerian National Petroleum Corporation (NNPC) and the Department of Petroleum Resources, DPR, to effectively monitor crude oil production was responsible for the inability to know the correct revenue from the sector.
Afren Nigeria and its partner, Oriental Energy Resources, have announced completion of the Ebok-5 appraisal well, which had been drilled to a total depth of 3,743' md. The oil column identified is full to base in both reservoirs
In a sustained opposition to the deregulation policy of the federal government, the Nigeria Labour Congress (NLC) at the weekend vowed that members of organised labour would be called upon to take actions that would frustrate the policy.
Opec's president Jose Botelho de Vasconcelos said today the group sees global oil demand growing to 106 million barrels per day in the period from last year to 2030, up 20 million barrels.
Representatives from national, international and smaller contracting oil companies are scheduled to meet with African government representatives to discuss local content policy this December.
Many out there, especially those engrossed in the hustle of city life, may not appreciate the magnitude of the impending food crisis. For such and more, agriculture appears secondary on the scale of things that require urgent attention from government at all levels.
There's been a lot of news on the oil front in the past few days. Today, it was announced that Heritage Oil has sold its stake to Italian energy giant Eni S.p.A. for $1.5 billion -- quite a large sum.
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