Monthly Archives: March 2019

‘Separate Petroleum ministry from Presidency’

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has called on President Muhammadu Buhari to separate the Ministry of Petroleum Resources from the Presidency to make it efficient.   It urged the incoming federal lawmakers to ensure that they pass the Petroleum Industry Bill (PIB) as soon as possible.   PENGASSAN President […]

Nigeria’s LPG market set to boom with NLNG’s Train-7 project – NCDMB boss

The Executive Secretary of the Nigerian Content Development Management Board (NCDMB), Mr. Simbi Wabote, has predicted a boom in Nigeria’s Liquefied Petroleum Gas (LPG) market with the anticipated addition of a seventh train to the existing six Liquefied Natural Gas (LNG) trains of Nigerian LNG (NLNG).   The NLNG plans to expand its production capacity […]

Nigeria’s oil rich Bayelsa state opens oil spills inquiry

A major new inquiry into oil companies operating in the Niger Delta has been launched by the Archbishop of York, John Sentamu. The probe will investigate “environmental and human damage” in Nigeria’s vast oil fields.   “This Commission will investigate the human and environmental impact of multinational oil company activity and is crucial to the […]

Nigeria showcases $48 billion upcoming oil, gas projects to investors

The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, yesterday said $48billion oil and gas investment opportunities have been identified in the country. Speaking on ‘Insights on Future Exploration Hotspots: Opportunities for Africa’s Oil & Gas Industry, at the 2019 International Petroleum Week conference in London, Baru urged investors to invest in […]

NNPC assures of 2.3m bpd crude oil production budget benchmark

The Nigerian National Petroleum Corporation (NNPC) has said that the Oil Industry will achieve the 2.3million barrel per day production volume-target for the 2019 budget, assuring that measures have been emplaced to attain the set mark.   Speaking in a presentation to the Senate Committee on Finance on the 2019  – 2021 Medium Term Expenditure […]

You can no longer remain as Petroleum Minister- PENGASSAN tells Buhari

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has urged President Muhammadu Buhari to appoint a substantive minister for the petroleum sector in his second term.   Mr. Francis Johnson, PENGASSAN President made the appeal while fielding questions from journalists on Friday in Lagos on the association’s National Executive Council (NEC) held […]

MOSOP Faults N3 Billion Expenditure On Ogoni Cleanup

The Movement for the Survival of Ogoni People (MOSOP) has described the Federal Government’s N3.039 billion expenditure on Ogoni clean up as the “biggest scam, using it to resume oil exploration in the region.”   In a statement, the group’s president, Fegalo Nsuke, said his people had lost confidence in the entire process, alleging lack […]

NNPC Begins Rehabilitation Of Port Harcourt Refinery

The Nigerian National Petroleum Corporation on Thursday announced the formal commencement of the first phase of the rehabilitation of the 210,000 barrels per day capacity Port Harcourt refinery.   Port Harcourt refinery complex also houses the 60,000 barrels per day old refinery that was built in 1965 and the 150,000 barrels per day new refinery, […]

New Refineries to Overrun Inefficient Plants By 2024

An increase in the number of new refining capacity, expected to extend till the end of 2024, signifies major competition ahead for the oil industry, with possible shutdowns, the International Energy Agency (IEA), said in its Oil 2019 Report.   The IEA noted specifically that such a capacity expansion will require shutdowns to balance, estimating […]

Nigeria to deploy technology in oil pipelines monitoring

The Managing Director, Nigerian Pipelines Storage company (NPSC), Luke Anele, has said the agency is deploying new technologies to monitor activities in oil pipelines across the country. Mr Anele made the disclosure in an interview with the News Agency of Nigeria (NAN), in Abuja on Wednesday. NPSC is a subsidiary of Nigerian National Petroleum Corporation […]