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Seplat Announce consolidated interim financial results for the three months ended 31 March 2019

Seplat Announce consolidated interim financial results for the three months ended 31 March 2019

April 30, 2019 No Comments

Seplat Petroleum Development Company Plc (“Seplat” or the “Company”), announced its first quarter results. Information contained within this release is un-audited and is subject to further review. Financial performance summary Revenue of US$160 million (2018: US$181 million) and gross profit of US$81 million (2018: US$93 million) represents a 51% gross profit margin (unchanged year-on-year); Revenue […]

Nigeria: Aiteo declares force majeure on oil supply from Bonny Light pipeline

Nigeria: Aiteo declares force majeure on oil supply from Bonny Light pipeline

April 23, 2019 No Comments

Aiteo Eastern Exploration and Production has declared force majeure on crude oil supply through Nigeria’s 150,000 b/d Nembe Creek Trunk Line, a key oil pipeline connected to the Bonny terminal, after a fire broke out at the facility on Sunday Investigations on the cause of the fire are ongoing, but Aiteo said it suspected sabotage. […]

PETRONAS Well-Positioned to Meet Rising LNG Demand

PETRONAS Well-Positioned to Meet Rising LNG Demand

April 10, 2019 No Comments

PETRONAS, with its growing portfolio of LNG supply sources in Malaysia, Australia, Egypt and soon in Canada, is well-positioned to provide clean energy through its flexible and innovative LNG solutions to existing and new demand markets, as well as to emerging trading hubs. PETRONAS President and Group Chief Executive Officer Tan Sri Wan Zulkiflee Wan […]

INEOS to invest £1 Billion in UK

INEOS to invest £1 Billion in UK

March 19, 2019 No Comments

INEOS is to invest £1 billion in the UK in multiple projects designed to ensure its British assets stay world class for a generation. The biggest investment being announced is in the Forties Pipeline System (FPS). This £500 million investment will transform the asset and extend the life of the pipeline by at least twenty […]

34 Per cent Increase in Pipeline Breaches Nationwide – NNPC

34 Per cent Increase in Pipeline Breaches Nationwide – NNPC

March 18, 2019 No Comments

There appears to be no let-up in the activities of vandals who in December last year pushed pipeline breaches across the Country by a whopping 34 percentage point, NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, stated this in a release Sunday in Abuja. Ughamadu said the upward swing in the breaches […]

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NNPC, Nigeria Police Renew Synergy on Anti-Pipeline Vandalism Campaign

NNPC, Nigeria Police Renew Synergy on Anti-Pipeline Vandalism Campaign

February 6, 2019 No Comments

The Nigerian National Petroleum Corporation (NNPC) and the Nigeria Police have pledged to work together in a renewed drive to combat the perennial menace of oil theft and pipeline vandalism across the country. Group General Manager, Group Public Affairs Division of the NNPC, Mr. Ndu Ughamadu, stated in a release Tuesday in Abuja that the […]

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, […]

Canadian government announces support for workers in oil and gas sector

Canadian government announces support for workers in oil and gas sector

December 20, 2018 No Comments

The Government of Canada announced more than $1.6 billion to support jobs and workers in Canada’s oil and gas sector, as Canada seeks to diversify export markets for its resources beyond the United States. These measures will support workers and their families, foster competitiveness and improve the long-term environmental performance of the oil and gas […]

Shale Under Pressure As Oil Falls Below $50

Shale Under Pressure As Oil Falls Below $50

December 18, 2018 No Comments

The OPEC+ cuts still are not doing very much to boost oil prices, dashing hopes for many U.S. shale producers. With companies in the process of formulating their budgets for 2019, the prospect of $50 oil sticking around raises questions about the heady production figures expected from the shale patch. The IEA expects U.S. oil […]

Wood Awarded Major pipeline Contract

Wood Awarded Major pipeline Contract

December 5, 2018 No Comments

Wood has been awarded a $43 million (USD) contract by a large-cap midstream company to construct 80 miles of steel pipeline in west Texas. The project will serve to transport natural gas liquids (NGL) across Texas. At peak construction, the project is anticipated to employ 200 people. Andrew Stewart, CEO of Wood’s Asset Solutions Americas […]

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