Total and its partners, which include Nigerian National Petroleum Corp, South Atlantic Petroleum Ltd, CNOOC E&P Nigeria Ltd, and Petrobras Oil & Gas BV, have started production from Egina oil field…
Polish oil refiner PKN Orlen expects to receive a first ever shipment of Nigerian crude oil as Poland seeks to reduce its reliance on Russian supplies.
A total of 64 planned and announced crude and natural gas projects are expected to commence operations in sub-Saharan Africa between 2018 and 2025.
Canadian Company, StarCore Nuclear Inc has proposed to the Federal Government of Nigeria, the rollout of 23 small modular reactors (SMRs) nuclear power stations.
Chief Executive Officer, Economic Associates, Ayo Teriba argues that Nigeria could have avoided the economic recession, devaluation and inflation that accompanied the loss in foreign exchange revenue due to decline in crude oil price between 2014 and 2016
Nigeria’s economy is exiting a painful recession, but policy implementation needs to move quickly and comprehensively to facilitate economic recovery and help the country…
The Nigerian Senate has begun talks with Russian oil companies to develop Nigeria’s oil and gas sector in partnership.
West African producers led by Angola and Nigeria are set to send crude to China at the rate of 1.48 million barrels a day in April, the most since Bloomberg began compiling the data in August 2011, according to loading programs and traders. Overall Asian imports of West African crude are poised to reach 2.4 million barrels a day this month, also a record. Asia’s increasing purchases of West African crude provides a valuable source of income for Angola and Nigeria, both of which rely heavily on oil revenues to fund government spending.
Nigeria is debating the allocation of $30 million to solar projects in this year’s budget with funding expected for off-grid solar projects, photovoltaic manufacturing, and transmission upgrades.
According to the Nigerian National Petroleum Corporation, Nigeria has capacity to create about $51 billion investment opportunities in the midstream and downstream gas sector. This investment will go into gas exploration and production activities, power plant projects, fertilizer plants, virtual pipelines and flare gas commercialization initiatives; as well as in Free Trade Zones infrastructure development and concessioning, port infrastructure, central gas processing facilities, gas transmission, LPG plants, real estate development, pipe milling and local fabrication yards. The intent is to position Nigeria as a regional hub for gas-based industries.
OEF REVIEW:“For the first time, we are unbundling the subset of the NNPC (Nigerian National Petroleum Corporation) to 30 independent companies with their own managing directors,” Emmanuel Ibe Kachikwu, also minister of state for petroleum who was appointed head of NNPC last year to overhaul the company, told a conference in Abuja.Nigerian President Muhammadu Buhari has made reforming the nation’s oil sector a priority as a slump in oil prices has hammered the economy, since crude exports account for around 95 percent of foreign earnings.
