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Sunday, July 5, 2020

NNPC and Chevron Sign EGTL Settlement Agreements, Highlight Socio-Economic Development of Nigeria

The recent Escravos Gas-To-Liquid (EGTL) Project Settlement Agreements entered into by the Nigeria National Petroleum Corporation (NNPC) and Chevron Nigeria Limited (CNL), Operator of the NNPC/Chevron Joint Venture is expected to boost Nigeria’s domestic gas utilization. The Settlement agreements were signed at the...

Nigeria’s NNPC to increase stake at Chevron-operated GTL refinery to 60%

LAGOS, Dec 24 - Nigeria’s state oil company said on Tuesday it will increase its stake in a Chevron-operated gas-to-liquid refinery to 60% as part of a cost dispute resolution with the U.S. oil major. The Nigerian National Petroleum Corporation (NNPC) has a 20%stake...

Nigeria’s Qua Iboe crude oil export to hit 230,000bpd in Q1’2020 as Bonny light slumps

LONDON - Exports of Nigerian Qua Iboe crude oil are set to rise in February, while those of Bonny Light will fall, according to preliminary programmes seen by traders. Exports for Qua Iboe have been set at 230,000 barrels per day (bpd) in February versus...

Nigeria to commission 2 modular refineries in 2020, 2021 to boost local refining output

Lagos — Two modular refineries will be up for commissioning in Nigeria in 2020 and 2021. Findings showed that the 5,000 barrels per day Waltersmith modular refinery located at Ibigwe in Imo State will come on stream in 2020. Already, the factory acceptance testing,...

NLNG Train 7 to create about 10,000 direct jobs in Nigeria — ES, NCDMB

In this interview with some journalists at the just concluded 9th Practical Nigerian Content Seminar in Yenagoa, Bayelsa State, Executive Secretary of the Nigerian Content Development Monitoring Board (NCDMB), Engr. Simbi Wabote, spoke on various issues bordering on the growth of local content in...

Russia’s Lukoil exercises option for oil block in Nigeria – Interfax

Dec 5 - Russian oil company Lukoil has executed a buy option from Chevron for 40% of block 132 in Nigeria, the Interfax news agency reported on Thursday, citing the firm’s president Vagit Alekperov. The company will start drilling on block 12 in Mexico...

Nigeria’s oil infrastructure at risk over rising Crude oil terrorism, Aiteo says

Managing Director of Aiteo Exploration and Production Limited, Mr Victor Okoronkwo, yesterday, expressed concern over the rising spate of crude oil theft in the country, stating that the activities of vandals are posing serious security risks to oil assets across the country. Speaking in Bayelsa,...

Billion-dollar LNG project in southern Mozambique expected in 2020

JOHANNESBURG (Reuters) - A final investment decision on a $3.15 billion liquefied natural gas (LNG) project near Mozambique’s capital will be taken around the middle of 2020, France’s Total and its partners in the project said on Wednesday. The project will see a floating storage...

Oil Prices Pull Back On Unexpected Increase In Inventories

Oil prices moved to the downside during trading on Wednesday, giving back ground after moving higher over the two previous sessions. Crude for January delivery climbed well off its lows of the session but still fell $0.30 or 0.5 percent to $58.11 a barrel. The pullback...

Nigeria seeks transparency in downstream sector with beneficiary register for Oil majors

Mr Waziri Adio, the Executive Secretary Nigeria Extractive Industries Transparency Initiative (NEITI) says the Federal Government will soon unveil the beneficial ownership register for the oil and gas industry. Adio, who disclosed this to newsmen in Abuja on Tuesday said the register would be unveiled...
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