Energy

Oredo: Baru Commends NPDC on 100% Local Content on Gas Facility

The Nigerian National Petroleum Corporation (NNPC) has commended the Nigerian Petroleum Development Company (NPDC), for achieving 100 per cent local content input in  the development of Oredo Integrated Gas Handling Facility (IGHF).

Dr Maikanti Baru, the Group Managing Director made the commendation when he visited NPDC, its upstream subsidiary on Wednesday, a statement released by the Corporation, on Thursday in Abuja said.

UK's SFO says ex-Afren executives convicted of fraud, money laundering

Two former executives of collapsed oil firm Afren were convicted on Wednesday of fraud and money laundering offences relating to a $300 million business deal, the UK’s Serious Fraud Office (SFO) said.

Former Afren Chief Executive Osman Shahenshah and former Chief Operating Officer Shahid Ullah received more than $17 million and laundered $45 million, some of which was used to buy luxury properties in Mustique and the British Virgin Islands, it said.

Dry Season: NNPC cautions against Petroleum Products Mishandling

The Nigerian National Petroleum Corporation (NNPC) has warned petroleum products consumers across the country against mishandling of products as dry season sets in.

The Corporation gave the warning in a statement signed by its spokesman, Mr Ndu Ughamadu, in Abuja, on Wednesday.

He said that experience had shown that commuters stocked petroleum products at home or moved about with them in their vehicle boots at this period of the year, exposing themselves and others to serious dangers.

650m Africans Live without Electricity –AfDB

The African Development Bank, (AfDB) on Wednesday says that no fewer than 650 million Africans currently live without electricity.

Dr Victor Oladokun,  AfDB Director, Communication and Media Relations disclosed this while welcoming African Journalists on a Media Tour to Saemaul Undong Model village project, in Yamoussoukro, Cote d’Ivoire, the News Agency  of Nigeria reports.

“About 650 million people in Africa are currently without light and some communities till today never see electricity.

Petroleum Corporation in Best Position to give Under-recovery Figures –Kachikwu

The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, says that the Nigerian National Petroleum Corporation (NNPC) is in the best position to give under-recovery figures.

The reports state that Under-recovery is the difference (subsidy) paid on products when purchased at a high price and sold below cost price.

Kachikwu made this known in a statement issued in Abuja by Mr Idang Alibi, the Director, Press and Public Relations in the ministry.

Nigeria to cut Sulphur in Fuels a year after UN Deadline

Nigeria will begin cutting the sulphur levels allowed in imported fuels in July, a change long sought by health and environmental campaigners, a year after an initial deadline, an official at state oil company NNPC said.

West African nations had promised higher quality by July 2017 as part of a United Nations Environmental Programme (UNEP) campaign, but only Ghana met the deadline.

Modular Refinery Package Arrives, More Expected

The Federal Government is making progress on the establishment of modular refineries with the arrival of one set of package shipment already in the country and undergoing Customs clearance.

The Niger Delta Inter-Ministerial Committee, chaired by Vice President Yemi Osinbajo, informed members at its presentation meeting in Abuja that the refinery would be installed in Delta.

NNPC, Kogi to Produce 84 Million Litres of Bio-fuel

The Nigerian National Petroleum Corporation (NNPC) and the Kogi State Government have executed a Memorandum of Understanding for the development of fuel-ethanol processing plant that would produce 84 million litres of bio-fuel per year.

Speaking during the signing of the MoU in Abuja, the Group Managing Director of the NNPC, Dr. Maikanti Baru, said the project would yield a cane mill and a raw and refined Sugar Plant of 126,000 tonnes annually.

US set to Topple Russia as World’s Biggest Oil Producer

The United States will overtake Russia as the world’s biggest oil producer, if not this year, by 2019 at the latest, as it oil import dropped to its lowest level since 2001.

IEA Executive Director Fatih Birol said this at an event in Tokyo that United States would overtake Russia as the biggest crude oil producer “definitely next year”, if not this year.

“U.S. shale growth is very strong, the pace is very strong … The United States will become the No.1 oil producer sometime very soon,” he told Reuters separately.

Osinbajo Assures Oil, Gas Operators of Enabling Business Environment

Vice President Yemi Osinbajo has assured oil and gas operators of Nigeria’s commitment to creating the enabling environment for the industry to achieve its destiny in Africa.

Osinbajo spoke at the closing ceremony of the first edition of the Nigerian International Petroleum Summit held at the International Conference Centre, Abuja.

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