Daily Archives: February 28, 2018

NNPC in final talks with Vitol, GE, Eni others to overhaul refineries

  Nigeria’s state oil firm NNPC is in the final stages of talks with two consortiums that include top traders, energy majors and oil services companies to revamp its dilapidated refineries, Reuters reports.   The move is aimed at helping Nigeria save billions of dollars on fuel imports. Four banking and trading sources said the […]

NNPC, Kogi sign MoU to produce 84m litres of bio-fuel per annum

  The Nigerian National Petroleum Corporation (NNPC) and the Kogi State Government have executed a Memorandum of Understanding for the development of fuel-ethanol processing plant that would produce 84 million litres of bio-fuel per year.   Speaking during the signing of the MoU today in Abuja, the Group Managing Director of the NNPC, Dr. Maikanti […]

Petroleum Ministry urges stakeholders to provide accurate data

  Dr Folasade Yemi-Esan, the Permanent Secretary, Ministry of Petroleum Resources on Monday urged oil and gas stakeholders to collate accurate, up-to-date data for the industry, NTA News reports.   Esan said this at the opening of the OPEC Data Management Training Workshop in Abuja. According to her, the ministry is working with other stakeholders […]

U.S. to overtake Russia as world’s top oil producer by 2019 at latest – IEA

  The International Energy Agency (IEA) said on Tuesday that the United States will overtake Russia as the world’s biggest oil producer by 2019 at the latest, as the country’s shale oil boom continues to upend global markets, Reuters reports.   IEA Executive Director Fatih Birol said at an event in Tokyo the United States […]

Hull offshore equipment manufacturer secures £500k supply contract with Nigeria LNG

  North Sea Ventilation Ltd (NSV), the Hull-based specialist manufacturer, has secured a £500k order to supply cooling equipment to Nigeria LNG Ltd. Established in 1992, NSV supplies heating, ventilating, air-conditioning and refrigeration systems for the energy sector. The £9m-turnover company currently sells to customers around the world, with 80% of its sales to international […]

Diversification will bring more benefits, says Guinness MD

  The ongoing efforts to diversify the economy from dependence on crude oil will enhance national development and create more opportunities for Nigerians, Guinness Nigeria Plc Managing Director, Mr Peter Ndegwa, has said.   He said the diversification of the economy and improvement from a raw-material only country to manufacturing economy will create a more […]