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Total Set To Approve New Oil Project Offshore Nigeria

Total Set To Approve New Oil Project Offshore Nigeria

January 22, 2019 No Comments

France’s Total will officially endorse a decision to proceed with the development of a new project offshore Nigeria, the Ikike project, Patrick Pouyanné, the chief executive of the oil and gas supermajor, said on Monday. “There is a huge potential in Nigeria, it is probably the most prolific country in west Africa in terms of […]

Nigeria: Fears over toxic assets emanating from loans to the energy sector

Nigeria: Fears over toxic assets emanating from loans to the energy sector

January 18, 2019 No Comments

Following the persistent crises in the electricity sector as well as the crash in oil price in 2014 to 2015 many banks that advanced credit to sector operators were put under bad loan pressure. Consequently, most banks now shy away from lending to the sector, especially with a renewed instability in the oil price according […]

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Eland Announce Gbetiokun Operations Update

Eland Announce Gbetiokun Operations Update

January 14, 2019 No Comments

Eland Oil & Gas PLC (AIM: ELA),announced that through its joint-venture subsidiary, Elcrest Exploration and Production Nigeria Ltd (“Elcrest”), it has completed drilling phase of the Gbetiokun-3 appraisal/development well. The OES Teamwork Rig has successfully completed drilling the Gbetiokun-3 well as part of the initial phase of the field development. The well encountered oil-bearing reservoirs […]

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Nigeria Records 9% Increase in Daily Crude Oil Production in 2018

Nigeria Records 9% Increase in Daily Crude Oil Production in 2018

January 2, 2019 No Comments

Nigeria’s crude oil daily production recorded an upward swing of about 2.09million barrels in outgone 2018, translating to a 9 per cent increment, compared with the 2017 average daily production of 1.86million barrels. Pitched against the low-level daily crude oil production in 2016 and what obtains now, Nigerian National Petroleum Corporation (NNPC) Group Managing Director, […]

Total Starts Up Production of  Egina Field

Total Starts Up Production of Egina Field

January 2, 2019 No Comments

Total has started up production on December 29, 2018 from the Egina field, located in around 1,600 meters of water depths, 150 kilometers off the coast of Nigeria. At plateau, the Egina field will produce 200,000 barrels of oil per day, which represents about 10% of Nigeria’s production. The Floating Production Storage and Offloading (FPSO) […]

NNPC Records Trading Surplus of ₦9.85Billion

NNPC Records Trading Surplus of ₦9.85Billion

December 28, 2018 No Comments

The Nigerian National Petroleum Corporation (NNPC) has announced a trading surplus of ₦9.85billion for the month of September 2018, a figure which is higher than the previous month’s deficit of ₦3.90 billion. Details of the report which is contained in the newly released September 2018 edition of the NNPC Monthly Financial and Operations Report indicated […]

NNPC Assures of Adequate Supplies of Petroleum Products Despite Pipeline Vandalizion

NNPC Assures of Adequate Supplies of Petroleum Products Despite Pipeline Vandalizion

December 22, 2018 No Comments

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has assured of adequate petroleum products supply in Lagos and its environs despite a fire outbreak which occurred in a portion of the vandalised NNPC pipeline at Abule Egba in Lagos. A release today in Abuja by NNPC Group General Manager, […]

Interpol issues arrest warrant for Alison-Madueke

Interpol issues arrest warrant for Alison-Madueke

December 21, 2018 No Comments

The International Police [Interpol] have issued an arrest warrant for former Petroleum Minister, Diezani Allison-Madueke, following a request by the Nigerian Federal Government. According to media reports, the necessary charges had been filed and attached to the extradition request by the office of the Attorney-General of the Federation. By this request, all Interpol member countries […]

Shell grows Bonga oil production

Shell grows Bonga oil production

December 18, 2018 No Comments

Crude oil production from the deepwater asset of the Shell Nigeria Exploration and Production Company (SNEPCo), Bonga field, has reached over 800 million barrels. Shell’s Media Relations Manager, Bamidele Odugbesan, in a statement, said the feat was achieved in 13 years of production from the field. He added it confirms the oil giant as a […]

Eni, Shell aware of corrupt payments, Judge rules

Eni, Shell aware of corrupt payments, Judge rules

December 18, 2018 No Comments

An Italian judge, Giusy Barbara, found out on Monday that Eni and Royal Dutch Shell were fully aware that their 2011 purchase of Nigeria’s Oil Prospecting Lease (OPL 245) would result in corrupt payments to Nigerian politicians and officials. Italy’s Eni and Shell bought the OPL 245 offshore field for about 1.3 billion dollars from […]

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