Category Archives: Oil & Gas

13 countries shun Nigeria’s crude

Thirteen countries may have shunned Nigeria’s crude oil as data obtained from the Nigerian National Petroleum Corporation, NNPC, shows they have not purchased the product since 2016. Full story

Source: https://www.vanguardngr.com/2017/11/13-countries-shun-nigerias-crude/

Posted by Hussaini Ali November 15, 2017

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Senate to probe Kachikwu’s allegations against Baru, corruption in police

The Senate has set up a committee to conduct a comprehensive investigation on the alleged insubordination and due process abuse made by the Minister of State for Petroleum, Ibe Kachikwu, against the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, particularly in the award of contracts worth over $25 billion without board approval. Full story

Source: http://guardian.ng/news/senate-to-probe-kachikwus-allegations-against-baru-corruption-in-police/?utm_source=Guardian+Newsletter&utm_campaign=934910b1a0-Newsletter&utm_medium=email&utm_term=0_b799d7d8ad-934910b1a0-99238021

Posted by Hussaini Ali October 5, 2017

How Falana’s Letter to Kachikwu Exposed Nigeria’s Huge Losses in Deep Offshore PSCs

Indications have emerged that a letter written by a human rights activist and Senior Advocate of Nigeria (SAN), Mr. to the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, when he was the Group Managing Director of Nigerian National Corporation (NNPC), exposed Nigeria’s huge losses in the Production Sharing Contracts (PSCs) signed with the international oil companies (IOCs) on the deep offshore oil fields. Full story

Source: www.thisdaylive.com

Posted by Amaka, 14 August 2017

Multinationals have moral obligation to comply with Nigerian content law – ExxonMobil MD

The Managing Director of ExxonMobil Nigeria, Paul McGrath, said on Thursday that compliance with the provisions of the Nigerian Content Act was not only legal, but also a ‘moral obligation’ for multi-national oil and gas operating and servicing companies based in Nigeria. Full story

Source: www.premiumtimesng.com

Posted by Amaka, 24 July 2017

Nigeria’s Excess Crude Account ‘most poorly governed…” – Report

Nigeria’s Excess Crude Account, ECA, has been ranked the most poorly governed sovereign wealth fund among 33 resource-rich countries around the world, a new report by the Natural Resource Governance Institute has shown. Full story

Source: www.premiumtimesng.com

Posted by Amaka, 30 June 2017

RenCap: Trans Forcados Pipeline Repair May Push Nigeria’s Oil Production to 2mbd

Analysts at Renaissance Capital (RenCap) have projected that the repair of the Trans Forcados Pipeline (TFP) will likely increase Nigeria’s production to about two million barrels per day (mbd). Full story

Source: https://www.thisdaylive.com/index.php/2017/05/18/rencap-trans-forcados-pipeline-repair-may-push-nigerias-oil-production-to-2mbd/

Posted by Hussaini Ali May 19, 2017

Reps pass NLNG Bill to end gas flaring, protect environment

The House of Representatives yesterday passed into law “A bill for an act to amend the Nigerian LNG (Fiscal incentive, Guarantees and Assurances) to make its statutory contribution to the NDDC fund and for other matters connected therewith.” Full story

Source: http://guardian.ng/news/reps-pass-nlng-bill-to-end-gas-flaring-protect-environment/?utm_source=Guardian+Newsletter&utm_campaign=7fc3bbd07e-Newsletter&utm_medium=email&utm_term=0_b799d7d8ad-7fc3bbd07e-99238021

Posted by Hussaini Ali May 10, 2017