Fossil fuel industry fingered for delayed climate action
The fossil fuel industry has been active in lobbying for delays in global climate action as they stand to make enormous amounts of money when the process is stalled. If the targets of the Paris Agreement on climate change to reduce emissions are to be met, the fossil fuel industry will be losing money. A […]
NNPC: Announces three-point Strategies Aimed at Ending Gas Flaring
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has announced a three-point smart strategy aimed at ending gas flaring in the nation’s Oil and Gas Industry. Dr. Baru made the announcement while delivering the lead paper on a panel session at the ongoing 50th Offshore Technology Conference (OTC), in […]
OTC 2018: Energy Policy Pro, Officials See Better Government-Industry Ties
A word starting with the letter “o” that’s been rare in oil and gas in recent years – “optimism” – seems to be a popular sentiment at the 2018 Offshore Technology Conference (OTC), which began Sunday in Houston. How might the offshore oil and gas industry summarize its relationship with U.S. federal regulators? An energy […]
Chevron to shut 2nd Gorgon LNG train in May May 2, 2018
US-based energy major Chevron plans to close in May the second production train at its giant Gorgon liquefied natural gas (LNG) plant on Barrow Island in Western Australia. “We have a planned pit-stop on Gorgon Train 2 next month to replicate performance improvement modifications that we have made in the other two trains,” Pat Yarrington, […]
Shell: Deep water Projects Need to Break Even at $40 a Barrel
Despite oil price rising above $75 per barrel, oil major, Royal Dutch Shell wants its deepwater projects at not more than $40 per barrel or below. Deepwater projects need to break even at $40 a barrel or preferably lower, said Harry Brekelmans, Shell’s project, and technology director, in an interview with Bloomberg TV. On Monday, […]
497 oil and gas projects to start production by 2022
A report by GlobalData – a leading data and analytics company – has indicated that a total of 497 planned projects are expected to start production across the world by 2022. Oil and gas analysts at GlobalData said the number of planned projects has decreased by 12 when compared with February. Globally, Asia leads with […]
NPDC Poised to Become Nigeria’s Number One E&P Company
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has said that the target of the corporation is to make its foremost upstream subsidiary, the Nigerian Petroleum Development Company (NPDC), the number one exploration and production company in Nigeria. Dr. Baru, who spoke on the sidelines of the 18th Annual […]
Rising oil price pushes petrol landing cost higher …NNPC to spend more on subsidy
The expected open market price of Premium Motor Spirit (petrol) being imported into Nigeria may have risen above N190 as crude oil price climbed towards a four-year high of $75 per barrel. As of March 20, 2018, when the international benchmark for oil prices, Brent, traded around $66 per barrel, the EOMP of petrol, according […]
NNPC awards Oando Engineering, Procurement and Construction mandate to develop Ajaokuta-Kaduna-Kano gas pipeline project
A two-party consortium consisting of Oando, in conjunction with its midstream affiliate, Axxela Limited (formerly known as Oando Gas & Power) and Oilserv Limited, has been awarded the Engineering, Procurement, Construction (EPC) mandate for the Ajaokuta – Abuja portion (Lot 1) of the Ajaokuta-Kaduna-Kano Pipeline system (AKK Pipeline) by the Nigerian National Petroleum Corporation (NNPC). […]
Forex, oil price volatility top 2018 business risks — KPMG
KPMG Nigeria has said that Foreign Exchange (Forex) and crude oil price volatility are among the top ten risks for Nigerian businesses in 2018, even as the nation’s business environment shows encouraging signs of improvement through a resurgence in consumer confidence and moderating inflation. The audit firm made this known during the launch of its […]