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Sunday, August 9, 2020

Petrolex Group to Launch Sub-Saharan Africa’s Largest Tank Farm

-Vice President to Commission Ultramodern Mega Oil City to decongest Apapa -The state-of-the-art facility has capacity to turnover 600 million litres of petroleum products every month -Facility set to cut down turnaround time in Nigeria’s downstream sector Petrolex Oil & Gas Limited, Africa’s emerging indigenous energy giant,...

Africa’s richest man, Aliko Dangote Wants Oil Prices To Remain Low

Africa’s richest man, Aliko Dangote, said at the United Nations General Assembly in New York that he was praying for the global crude oil prices to remain low for a longer period to enable resource-rich countries to turn to other sectors to grow their...

Shell backed Joint Venture restates commitment to development of host communities

By Joseph Afam The Shell Petroleum Development Company of Nigeria Ltd operated Joint Venture (SPDC JV) has said its commitment to the welfare of host communities in the Niger Delta remains unshaken, even as it decried the illegal occupation of Belema Flow Station and Gas...

Senate backs PPP model for local refineries’ repairs, kicks against Eni/Agip, Oando deal

Oando gets nod for Port Harcourt plant’s job The Senate has finally endorsed the private-public partnership (PPP) for the repair of the country’s four refineries. The lawmakers kicked against the government initiative, given that the contract given to Eni/Agip and Oando to repair Port Harcourt Refinery...

Morocco’s OCP plans chemical plants, fertiliser blenders in Nigeria, Ghana and Ethiopia

(Adds details and background) By Ahmed Eljechtimi CASABLANCA, March 4 - Morocco’s OCP Group, expects to reach a deal this year to build a Nigerian ammonia plant and to start production at a $3.7 billion chemical plant in Ethiopia by 2023/2024, the chief executive of...

London Private Equity Firm Eyes $250 Million in African Energy Projects

London-based fund to invest $250 million across Africa Denham has developed and sold 6.5 gigawatts of power projects Denham Capital Management LP, a London-based private equity firm, plans to channel at least $250 million into energy projects in Africa. The company has established a partnership with Neo...

Nigeria Sets Bid Guidelines for Award of 46 Marginal Oil Fields

•Mulls setting aside some for discretionary award to Niger Delta firms, targets $300m revenue   By Ejiofor Alike   The federal government through the Department of Petroleum Resources (DPR) has set the guidelines for the marginal oil field bid round scheduled to take place later this year or...

Russia’s Gazprom secures major gas deal in Ghana

Sources within the Ghana National Petroleum Corporation (GNPC) have confirmed, exclusively to Citi Business News, that the company’s board has approved the awarding of a long term Liquefied Natural Gas (“LNG”) supply contract to Gazprom, the world’s largest producer of gas. The long term supply...

Petrolex Mega Oil City to ease Apapa Gridlock by 60%

Apapa is home to two of Nigeria’s busiest seaports, several tank farms and a number of big companies. Business activities in the area are a big component of Nigeria’s economy, however, despite its importance, the deplorable condition of Apapa—caused overtime by the failure of...

Nigeria’s biggest oil pipeline will soon be completed — Okwuosa, Oilserv GCEO

The Engineering, Procurement and Construction (EPC) industry has played a major role in the development and advancement of the oil and gas sector in Nigeria. The introduction of the Nigerian Oil and Gas Industry Content Development policy by the Federal Government was aimed at encouraging...
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