Tag Archive

20-year License renewal for OMLs 4, 38 and 41 confirmed.

20-year License renewal for OMLs 4, 38 and 41 confirmed.

November 15, 2018 No Comments

Seplat Petroleum Development Company Plc (“Seplat” or the “Company”), announced that Nigeria’s President and Honourable Minister of Petroleum Resources has given consent for the renewal of OMLs 4, 38 and 41 to a new expiry date of 21 October 2038. Seplat holds a 45% working interest in OMLs 4, 38 and 41 and in the […]

Nigeria’s EFCC begins moves to extradite Alison-Madueke

Nigeria’s EFCC begins moves to extradite Alison-Madueke

November 12, 2018 No Comments

The Economic and Financial Crimes Commission has confirmed that the process for the extraditing former Minister of Petroleum, Mrs Deziani Alison-Madueke from the United Kingdom has begun. Acting Spokesman of the commission, Mr Tony Orilade, disclosed this on Sunday in Abuja according to a News Agency of Nigeria (NAN) report. There have been calls from […]

Man found dead inside pipeline in Nigeria

Man found dead inside pipeline in Nigeria

November 12, 2018 No Comments

A 45-year-old suspected vandal, was on Sunday found dead inside an Nigerian National Petroleum Corporation (NNPC)’s Petroleum Motor Spirit [PMS] pipeline at Gbaga Axis, Ogijo, Ogun State according to local media reports. The Nigeria Security and Civil Defence Corps [NSCDC] Public Relations Officer, Dyke Ogbonnaya, in a statement said the command had reported the incident […]

Nigeria Records Crude Oil and Gas Export Sale of $470m in August

Nigeria Records Crude Oil and Gas Export Sale of $470m in August

November 8, 2018 No Comments

The Nigerian National Petroleum Corporation (NNPC) has said that crude oil and gas export sale by the corporation in August 2018 was $470million, indicating an upsurge of about $78million in relation to July oil and gas export figures of $391.91million. NNPC Monthly Financial and Operations report for August 2018 released today in Abuja by the […]

GEL Utility  Signs Multiyear Services Agreement with GE to power Nigeria’s Largest Oil Refinery

GEL Utility Signs Multiyear Services Agreement with GE to power Nigeria’s Largest Oil Refinery

November 6, 2018 No Comments

GE’s Power Services (NYSE:GE) today announced that it has signed a multiyear service agreement (MYA) with GEL Utility Limited (GELUL) , a joint subsidiary of Engro Corporation of Pakistan and Genesis Power & Energy Solutions, to support the power generation requirements of the Nigerian National Petroleum Corporation’s wholly owned subsidiary- the Port Harcourt Refining Company […]

Outlook for Africa’s oil & gas industry improves – PwC report

Outlook for Africa’s oil & gas industry improves – PwC report

November 6, 2018 No Comments

The outlook for Africa’s oil & gas industry is positive amid difficult operating and economic headwinds. Tough economic and external conditions have placed pressure on oil & gas companies to be more cost-effective and efficient. Companies have adopted to a low-cost environment, which promises to be even more beneficial given the current recovering oil price. […]

NNPC, BP Sign PMS Supply Agreement

NNPC, BP Sign PMS Supply Agreement

November 2, 2018 No Comments

As part of measures to sustain the robust supply of petroleum products across the country and especially going into the Yuletide period and beyond, the Nigerian National Petroleum Corporation (NNPC) has signed a six-month Direct Sale-Direct Purchase (DSDP) agreement with the British Petroleum’s (BP) trading arm, BP Oil International Ltd, for the supply of Premium […]

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NNPC Tasks Engineers on Renewable Energy Development

November 1, 2018 No Comments

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has challenged Nigerian engineers to come up with technologies to help deepen the development of renewable energy in the country. The NNPC helmsman threw the challenge during a courtesy call on him by members of the executive committee of the Nigerian […]

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Africa Oil, Delonex and Vitol Announce Acquisition of Producing Assets in Deepwater Nigeria

Africa Oil, Delonex and Vitol Announce Acquisition of Producing Assets in Deepwater Nigeria

November 1, 2018 No Comments

A consortium led by Vitol and comprising Africa Oil Corp (“Africa Oil”) (25%), Delonex Energy Ltd. (“Delonex”) (25%) and Vitol Investment Partnership II Ltd. (“Vitol”) (50%), (collectively, the “Consortium”), announced that it has entered into a Share Purchase Agreement (“SPA”) to acquire a 50% ownership interest in Petrobras Oil and Gas B.V. for $1.407 billion. […]

ex-Afren executives sentenced in fraud, money-laundering case

ex-Afren executives sentenced in fraud, money-laundering case

October 30, 2018 No Comments

Osman Shahenshah and Shahid Ullah received a total of 30 years for fraud and money laundering offences they had committed whilst they were CEO and Chief Operating Officer of Afren Plc. The men were found guilty at trial earlier this month for a scheme they created to profit from business deals Afren made with its […]

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