Monthly Archives: March 2018

Navy discover 6 new illegal refineries in Rivers

  The Nigerian Navy says it has discovered six new illegal refineries with combined capacity to refine four million litres of crude oil daily in Alakiri, Asari Toru Local Government Area of Rivers.   Capt. Victor Choji, Executive Officer of the Nigerian Navy Ship (NNS) Pathfinder Port Harcourt, disclosed this while destroying one of the […]

Shell implicates former oil executive in Nigeria corruption scandal

  Royal Dutch Shell has filed a criminal complaint against a former executive in its Africa oil exploration business over bribery allegations, which have dogged Shell’s work in oil-rich Nigeria in recent years.   The oil major implicated Peter Robinson in the latest corruption scandal after an internal investigation unearthed suspicions of wrongdoing in the […]

‘Nigeria’s oil output, others to hit 12m bpd’

  Daily oil production from African countries, including Nigeria, has been projected to reach 12 million barrels per day (bpd) in the next few years. The  current output is about 10 million bpd,.   African Petroleum Producing Organisation (APPO), formerly African Petroleum Producing Association (APPA), Executive Secretary His Excellency, Mahaman Laouan Gaya, spoke of the […]

PENGASSAN, Oil Companies’ Dispute Deepens

  The labour dispute between the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the oil service firms has worsened despite efforts by Petroleum Technology Association of Nigeria (PETAN) to find solutions to the picketing of oil firms over their alleged refusal to allow workers to unionise.   THISDAY gathered that PETAN, […]

Independent producers record 100% increase in oil output – NNPC data

  Current data from Nigerian National Petroleum Corporation (NNPC) has shown that crude oil output from independent and sole risks producers have increased by over 100 per cent from 2.388 million barrels recorded in May 2017 to 7.487 million barrels in June, The Guardian reports.   According to the NNPC’s data titled: “Crude Oil Well-head […]

Thousands of Jobs At Risk As Nigerian Oil Industry Crumbles

  Thousands of oil workers in Nigeria may lose their jobs after a wave of picketing against several service companies from the industry from members of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).   The protests follow allegations that the service companies are refusing to allow their workers to unionize.   […]

Traders back local firms to buy Petrobras’ Nigerian oilfield stakesR

Global oil traders Vitol and Glencore are in talks to financially back Nigerian firms racing to buy assets owned by Brazil’s Petrobras valued at up to $2 billion, several sources familiar with the matter said.   Cash is being lined up for purchases of stakes in two major oilfields in the west African country, according […]

Why Nigeria may miss targets for oil reserves

A 10-year target set by the Federal Government to boost crude oil reserves to 40 billion barrels and daily production to four million by 2020 is becoming unrealistic due to uncertainties that decrease investments in the sector.   Indeed, instead of making progress, the country may be taking steps backward, going by statistics from the […]

Multiple NGOs call for the Nigeria-Morocco gas pipeline project to be scrapped

  The Nigeria-Morocco project would be the continuation of the West African Gas Pipeline (GOA) – which links Nigeria to Ghana through Benin and Togo – to run 5000 km from Nigeria to Morocco. It would cost an estimated US$20 billion, serve 12 African countries and approximately 300 million potential consumers.   Advertisement The project […]