Category: Oil& Gas
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Our Dear Army, Please cool Temper by Dele Momodu
Popular Ovation magazine publisher and columnist at ThisDay newspaper, Dele Momodu has reacted to the ongoing military operation in the South-eastern part of Nigeria. Fellow Nigerians, let me confess my admiration for security forces generally. It is not just because of the cleanliness and crispiness of their uniform or the famed discipline that they imbue…
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Kachikwu reveals what will happen to diesel, fuel
The Minister of State for Petroleum Resources, Ibe Kachikwu, has said that the price of fuel and diesel will crash in the next four to six months owing to the competition inherent in petrol products price modulation. He urged Nigerians not to undermine the present prices of the products, stressing that a look at the…
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Geopolitical Zones of newly appointed NNPC Officials (see list)
As part of the ongoing restructuring of the Nigerian National Petroleum Corporation, NNPC, 55 top management staff were either appointed or redeployed across the company’s operations in a major management shake-up announced on Tuesday.The Group Managing Director, GMD of the Corporation, Maikanti Baru, said the new appointments would not only help reposition the NNPC for…
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NNPC, Shell, Chevron agree to boost oil reserves, FG revenue
Two sets of alternative financing agreements on Joint Venture (JV) projects to boost reserves and production in line with government’s aspiration were executed in London on Monday between the Nigerian National Petroleum Corporation (NNPC) and two of its JV partners: NNPC/Chevron Nigeria Limited (CNL) JV and NNPC/Shell Petroleum Development Company (SPDC) JV. The two projects…
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NNPC/FIRST E&P JV secures over $700m Schlumberger funding
The plan by the Nigerian National Petroleum Corporation(NNPC) to grow the nation’s crude oil reserves to 40 billion barrels by the year 2020 received a major boost on Thursday with the execution of a tripartite agreement in Abuja. The agreement was between the NNPC/FIRST Exploration & Production Joint Venture and Schlumberger for the development of…
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Shell Nigeria considers investment in gas project in Niger Delta
Shell is considering whether to invest in a gas project in Nigeria’s southern Niger Delta energy hub, the managing director of the local unit said on Tuesday. Nigeria has the world’s ninth largest proven gas reserves, at 187 trillion cubic feet (tcf). Osagie Okunbor, managing director of Shell Petroleum Development Company of Nigeria (SPDC), said…
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New bill won’t lead to fuel price hike -Saraki
CNPP vows to resist fuel tax, backs Labour, students Senate plans to debate motion on high interest rates The Senate President, Dr. Bukola Saraki, has stated that the proposed National Road Fund Bill would not lead to any increase in the current pump price of Premium Motor Spirit (PMS), also known as petrol. In a…
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CNPP critisize National Assembly over plan to hike fuel price
The Conference of Nigeria Political Parties (CNPP) has accused the National Assembly of taking more anti-people decisions rather than resolutions that could better the lives of the already impoverished citizens. Speaking to newsmen yesterday in Abuja, Secretary General of the conference, Chief Willy Ezugwu said, “We assure the Senate and the Federal Government that their…
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NNPC to support law against gas flaring
The Nigerian National Petroleum Corporation (NNPC) has said that it has put in place measures and facilities to curb gas flaring preparatory to the 2020 flare out deadline by the Department of Petroleum Resources (DPR). A statement from the NNPC said its Group Managing Director, Dr. Maikanti Baru made this submission during a one-day…
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Gas suppliers demand cash before delivery
The Association of Power Generation Companies (APGC) has said the gas-fired Generation Companies (GenCos) owe gas suppliers about N200billion debt which has cut further credit supply from the firms. The Executive Secretary, Dr Joy Ogaji at a briefing in Abuja yesterday said GenCos are only operating few turbines to generate power based on the quantum…