By Olatunde Dodondawa The Department of Petroleum Resources (DPR) has revoked the oil licenses of of five companies due to non-settlement of legacy debt. The revocation of oil licenses was contained in a public notice issued on Thursday. The DPR revoked Oil Mining Licenses (OML) and one Oil Prospecting License […]
Energy
SEPLAT partners NNPC to produce 300m scuf/d
Seplat Petroleum Development Company Plc has partnered the Nigerian National Petroleum Corporation (NNPC) to deliver 300millon standard cubic of gas per day to the domestic market through the ANOH Gas Processing Company (AGPC). The ANOH project is designed to abridge the estimated 3.4 billion cubic feet of gas per […]
Solving Nigeria’s Power Sector Crisis Using Nuclear Technology
Nigeria’s perpetual erratic power supply has continued without any solutions in sight soon. Previous governments had attempted to solve this challenge through various energy mix which includes hydro (water), thermal (natural gas) and renewables (solar). However, in addition to existing Nigeria’s energy mix, the present administration is planning to embrace […]
NGA seeks to address gas challenges in oil, gas sector
Olatunde Dodondawa The Nigerian Gas Association (NGA) seeks to address sectoral challenges confronting gas business in the oil and gas industry. Expected speakers are exceptional personalities in the sector that will discuss and debate at the gas forum include; Paul McGrath(Chairman, OPTS); Saidu Mohammed(Group Executive Director-Gas & Power; NNPC); Kabiru […]
Operators jostle for NCDMB’s $100bn business opportunities
Olatunde Dodondawa, Lagos The Nigerian Content Development and Monitoring Board (NCDMB) has presented 80 business opportunities that worth $100billion for operators in the Nigerian Oil and Gas industry. Speaking at the recently concluded 2nd Nigerian Oil and Gas Opportunity Fair (NOGOF) in Yenagoa, Bayelsa State, the Executive Secretary, NCDMB, Engr. Simbi Kesiye […]
Stakeholders call for ‘co-location strategy’ to unlock Nigeria’s gas potentials
Olatunde Dodondawa At media training to sensitize the public on the initiative, experts in the oil and gas industry believed that the strategy could encourage and promote increased GBI investments by the private sector; create a vibrant value chain, provide employment and substantially increase government revenue and the potential […]
Dangote Refinery to empower host communities youths
By Olatunde Dodondawa Dangote Refinery to empower host communities youths As part of efforts aimed at making youths from its host communities employable, Dangote Petroleum Refinery & Petrochemicals Company yesterday flagged off a vocational training scheme that will inculcate necessary skills in the young men and women from the Ibeju-Lekki […]
Stiff penalty awaits defaulters of due process in procurement – Baru
By Olatunde Dodondawa Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has warned management and staff of the corporation against any action that contravenes the provisions of the Public Procurement Act in the award of contracts, saying severe penalties await any defaulter. The NNPC […]
OPEC likely to defer output policy decision until June
By OLATUNDE DODONDAWA OPEC and its partners are unlikely to decide on their output policy in April as it would be too early to get a clear picture of the impact of their supply cuts on the market by then, three OPEC sources said on Monday. The sources said […]
NEITI confirms Nigeria loses $16bn to PSCs in 10 yrs
By Olatunde Dodondawa The Nigeria Extractive Industries Transparency Initiative (NEITI) has stated that Nigeria lost at least $16 billion in 10 years due to non-review of the 1993 Production Sharing Contracts (PSC) with oil companies. This was contained in NEITI’s latest report titled “The Steep Cost of Inaction” released in […]