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Tag: oil and gas industry

NCDMB: Afreximbank Invested Over $42bn In African Enterprises In Five Years

Nigerian Content Development and Monitoring Board (NCDMB)
Africa must address funding, technology, other limitations to achieve energy security, says Sylva The Nigerian Content Development and Monitoring Board (NCDMB) yesterday disclosed that the African Export-Import Bank (Afreximbank) hadRead More

Governors Doubt NNPC’s N287bn Profit, Call For More Transparency

Nigeria Governors Forum (NGF)
Bemoan oil firm’s inability to contribute to Federation Account in January The Nigeria Governors Forum (NGF) yesterday questioned the veracity of the profit recently declared by the Nigerian National PetroleumRead More

Massive Oil Theft, High Pipeline Repairs Cost, Bleeding Nigeria’s Economy

Oil pipeline
At 200,000bpd, over $29bn lost to theft in six years Over N700bn expended on repairs, maintenance A combination of huge oil pipeline repairs cost and a high-level crude oil theftRead More

Report: Nigeria’s Oil & Gas Industry to Face Liquidity Challenges In 2022

Nigeria’s oil and gas industry
Dangote refinery to alter sub-region’s fuel supply dynamics Nigeria’s oil and gas industry may struggle with liquidity challenges in 2022, a new report by Mordor Intelligence, a global market researchRead More

NCDMB, Navy Plan Joint Committee on Maritime Security In Oil Locations

Nigerian Content Development and Monitoring Board (NCDMB)
Content board commences facility repairs for large ships The Nigerian Content Development and Monitoring Board (NCDMB) and the Nigerian Navy yesterday agreed to set up a joint committee to workRead More

NNPC-Chevron Venture Donates 186 Equipment To Ijaw, Itsekiri Cottage Hospitals

Nigerian National Petroleum Corporation (NNPC) and Chevron Nigeria Ltd Joint Venture (CNL)
The Nigerian National Petroleum Corporation (NNPC) and Chevron Nigeria Ltd Joint Venture (CNL) has donated an assortment of hospital equipment and pharmaceutical products to two cottage hospitals at Egbema-Gbaramatu KingdomRead More

Bowing To Chinese Pressure, Buhari Restores 4 Oil Blocks To NNPC/Addax

President Muhammadu Buhari
President Muhammadu Buhari yesterday approved the restoration of the permits on Oil Mining Leases (OMLs) 123, 124, 126 and 137 to the Nigerian National Petroleum Corporation (NNPC) and, by extension,Read More

FG Mulls Incentives For Banks To Restructure Oil Firms’ Debts

Minister of State for Petroleum Resources, Chief Timipre Sylva
DPR remits N2tn to govt coffers The Federal Government is considering a regulatory forbearance for banks to encourage them to restructure oil companies’ loans. Minister of State for Petroleum Resources,Read More

Nigeria Wastes N115bn Gas In Seven Months

Nigerian National Petroleum Corporation (NNPC)
International oil companies and local players in the nation’s oil and gas industry flared natural gas worth an estimated N114.79bn from January to July this year. The companies produced 1.64Read More