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LEKOIL Otakikpo Operational Update in Nigeria

LEKOIL Otakikpo Operational Update in Nigeria

June 26, 2017 No Comments

LEKOIL (AIM: LEK), the oil and gas exploration, development and production company with a focus on Africa, announced its second export from the Otakikpo Marginal Field (“Otakikpo”) in OML 11. Approximately 250,000 barrels of gross production have been lifted from the FSO Ailsa Craig by Shell Western Supply and Trading Limited (“Shell Trading”), a subsidiary […]

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Indonesia to Build Refinery in Nigeria

Indonesia to Build Refinery in Nigeria

June 22, 2017 No Comments

The Federal Government’s plan to attract investment in modular refineries as part of efforts to boost local refining capacity has started gaining momentum with an Indonesian firm, PT Intim Perkasa Nigeria Ltd, a subsidiary of PT Intim Perkasa, Indonesia, indicating interest to build a refinery in Nigeria. Mr. Adi Hartadi, the Head of Investor Relations […]

Erin provides drilling operations update

Erin provides drilling operations update

June 22, 2017 No Comments

Erin Energy Corporation (“Erin Energy”) (NYSE MKT:ERN) (JSE:ERN) provided an update on its drilling operations that are expected to double production for the Company, as well as updated its plans for drilling one of its prime exploration prospects. Erin Energy currently produces approximately 6,000 barrels of oil per day (BOPD). Drilling operations for the Oyo-9 […]

Bumi Armada Suspends Operations on FPSO ARMADA PERDANA to Erin

Bumi Armada Suspends Operations on FPSO ARMADA PERDANA to Erin

June 22, 2017 No Comments

Malaysia-based international offshore energy facilities and services provider Bumi Armada Berhad (“Bumi Armada” or “the Group”) announced that its wholly owned subsidiaries Armada Oyo Limited (“AOL”) and Bumi Armada (Singapore) Pte Ltd (“BASPL), are suspending the bare-boat charter (“BBC”) and operations and maintenance (“O&M”) contracts respectively, on the FPSO Armada Perdana to Erin Petroleum Nigeria […]

NCDMB sign MOU with CWC Group on PNC Forum

NCDMB sign MOU with CWC Group on PNC Forum

June 22, 2017 No Comments

Nigerian Content Development & Monitoring Board (NCDMB) reinforces its commitment to the Practical Nigerian Content (PNC) (www.CWCPNC.com) Forum held annually with the signing of a MoU with the CWC Group. Under the terms of the MoU, the NCDMB & CWC alongside Nigerian partner, Levmora Services will collaborate to deliver greater value through PNC. This will […]

Oil Pipeline Vandalism Drops by 12 Per Cent in Nigeria

Oil Pipeline Vandalism Drops by 12 Per Cent in Nigeria

June 21, 2017 No Comments

The extensive engagement with oil and gas community stakeholders embarked upon by the Federal Government and the Nigerian National Petroleum Corporation, NNPC has continued to yield positive results with the attainment of 12.77 per cent reduction in downstream pipeline vandalism. According to the April 2017 NNPC Financial and Operations report released in Abuja on Monday, […]

Expect $30 Oil -Bank Of America

Expect $30 Oil -Bank Of America

June 21, 2017 No Comments

Oil prices hit on Tuesday their lowest levels since mid-November last year, with WTI entering a bear market, and analysts now see the price of oil sliding further down to below US$40 and even into the US$30s, as rising output from Libya and Nigeria adds to the persistent concerns over global oversupply. As of 2:21pm […]

Oil and Gas Newstrack to June 19

Oil and Gas Newstrack to June 19

June 20, 2017 No Comments

The price of OPEC basket of fourteen crudes stood at $44.46 a barrel on Monday, 19 June 2017, compared with $44.58 the previous Friday, according to OPEC Secretariat calculations. —————————- Nigeria has surpassed Angola to regain the top position as the largest oil exporter in Africa, a title it lost to Angola in 2016 after […]

NNPC crashes diesel price nationwide by 42%

NNPC crashes diesel price nationwide by 42%

June 19, 2017 No Comments

Price of Automotive Gas Oil (AGO), also known as Diesel, has crashed to about 42% nationwide, a huge downslide over the last six months, following key strategic interventions by the Nigerian National Petroleum Corporation (NNPC). It would be recalled that in the first quarter 2017, retail prices of AGO, which is one of the deregulated […]

A review of the book “BIG BARRELS”

A review of the book “BIG BARRELS”

June 15, 2017 No Comments

BIG BARRELS has arrived very late. For many like myself, who struggled with the scarcity of positive Africa-specific case studies at business school; it’s about time, too. By showcasing examples of countries where the ‘Resource Curse’ is being overcome, NJ Ayuk and Joio Gaspar Marques have placed a finger right on the pulse of Africa’s […]

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