Author Archives: steph

NNPC spends $1.2b on Brass LNG project

The Nigerian National Petroleum Corporation (NNPC) yesterday said only  $1.2 billion has so far been committed to the Brass LNG project.   Speaking at the House of Representatives Ad-hoc Committee investigating the expenditure and implementation of the $22 billion Brass LNG project,  General Manager, New LNG Venture of the NNPC, Engr. Ahmed Dikko, said the […]

Senate Assures AGIP On U.S.$13.5 Billion Oil Project

The Senate has assured the Nigerian Agip Oil Company (NOAC) and other stakeholders of its support and commitment for the commencement of the $13.5 Billion offshore Zabazaba crude oil production project that is awaiting final investment decision.   Giving the assurance at an NOAC/Oando and NNPC organised Research and Development Forum/Exhibition of Emerging Technology with […]

NNPC reduces joint venture indebtedness to $3.5bn

The Nigerian National Petroleum Corporation, NNPC, yesterday said that it has reduced joint venture cash call indebtedness to international oil companies to $3.5 billion.   Group Managing Director of the NNPC, Dr. Maikanti Baru disclosed this in Abuja, at the 12th national conference of the Nigerian Association for Energy Economics/International Association for Energy Economics, NAEE/IAEE. […]

IMF’s advice poisonous, say NUPENG, PENGASSAN

The Nigeria Union of Petroleum and Natural Gas Workers and the Petroleum and Natural Gas Senior Staff Association have described as poisonous the International Monetary Fund’s advice to the Federal Government on fuel subsidy.   The Managing Director, IMF, Christine Lagarde, during a press conference on Thursday at the joint annual spring meetings with the […]

NNPC commends Oilserv over east-west gas pipeline development

The Nigerian National Petroleum Corporation (NNPC) has commended Oilserv Limitted for playing a major role in the oil and gas industry since her inception in 1992.   The NNPC said the company has contributed immensely to the development of pipelines systems infrastructure in Nigeria, having executed various large and medium scale projects.   Oilserv is […]

Kachikwu challenges ExxonMobil, others on gas commercialization policy

The Minister of State for Petroleum Resources, Dr Ibe Kachikwu has urged ExxonMobil and other  International Oil Companies operating in Nigeria, to key into the gas commercialization policy of government for gas development in the country.   Kachikwu gave the advise while fielding question from newsmen after  visiting the ExxonMobil  Erha Floating Production Storage and […]

NNPC, Seplat shop for N253b to develop gas project

Nigerian National Petroleum Corporation (NNPC) and Seplat Petroleum Development Company Plc are shopping for $700 million (about N253 billion) to develop their joint venture gas project in Imo State, it was gathered at the weekend.   NNPC and Seplat had in August, last year, signed five agreements for the construction of the gas processing plant […]

Chevron, Lonadek to train professionals in drilling, completions

Chevron Nigeria Limited has partnered Lonadek Inc. to train 12 professionals in oil and gas drilling and completions.The training seeks to close the gap between expatriates and local competency while stimulating drilling and completion talents as alumni of top Nigerian universities. According to the duo, the training is an incorporated project for drilling and completions […]

Firm ties refinery construction to full downstream deregulation

Petrocam Nigeria Limited has said it would build a refinery in-country only when the Federal Government fully deregulates the downstream sub-sector of the oil industry.   The Chief Executive officer of the firm, Mr. Patrick Ilo, stated this at the opening of the firm’s 10th retail outlet in Abule Ado, Lagos-Badagry Expressway, Lagos. Ilo said […]