Tag: Oil & Gas

NNPCL, ?angote Refinery sign 10-yr gas supply deal to boost domestic production

Aminu Imam
NNPCL signs sale deal with ?angote

The Nigerian National Petroleum Company Gas Marketing Limited (NGML), a subsidiary of the Nigerian National Petroleum Company (NNPC) Limited, has executed a Gas Sale and Purchase Agreement (GSPA) with ?angote Petroleum Refinery and Petrochemicals FZE. According to an issued statement on Wednesday by the NNPCL Chief Corporate Communications Officer,  Olufemi Soneye, the agreement, signed by the NGML Managing Director, Justin Ezeala and the President/CEO of the ?angote Group, Aliko ?angote outlines the supply of natural gas for power generation and feedstock at the ?angote Refinery, in Ibeju-Lekki, Lagos State. The…

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ExxonMobil proposes $10bn investment in Nigerias Deepwater oil

Aminu Imam
ExxonMobil proposes

U.S. oil supermajor, ExxonMobil, has proposed an investment of $10 billion in Nigerias deepwater oil resource development. According to the spokesman and senior special assistant to the Vice-President, Stanley Nkwocha, in a statement issued yesterday, Vice-President, Kashim Shettima welcomed ExxonMobil’s proposed $10 billion investment in Nigeria’s deep-water oil operations, describing it as a clear testament to the administration’s economic reforms and investment-friendly policies, said the statement. Recall that Shettima, on Wednesday, held a high-level meeting with ExxonMobil executives on the sidelines of the on-going 79th Session of the United Nations…

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“Indians taking over jobs in Nigerias oil/gas sector”, PENGASSAN laments

Aminu Imam
PENGASSAN laments

The Petroleum and Natural Gas Senior Staff Association of Nigeria, (PENGASSAN) has queried a high influx of Indian expatriates in the oil and gas industry in the country. PENGASSANs President, Festus Osifo, said this yesterday, at the closing of the 3rd edition of the three-day Energy and Labour Summit in Abuja. According to  Osifo, the increasing dominance of expatriates, particularly Indian nationals in the sector was alarming. They are taking over low-level jobs, which is a blatant abuse of the expatriate quota system”, he stated. In Sterling Oil today, it…

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H’Reps sacks oil, gas probepanel,after pro-NNPCL advert

Aminu Imam
H'Reps sacks panel

The House of Representatives has sacked the ad-hoc Joint Committee on Downstream and Midstream it set up to probe activities of the Nigeria National Petroleum Company Ltd.(NNPCL), and the Nigeria Midstream and Downstream Petroleum Regulatory Authority,(NMDPRA), after some members joined to place adverts supporting the oil company. 118 members of the House of Reps, under the banner of: 1 AGENDA, placed an advertorial in three national dailies allegedly aimed at protecting NNPCL in the aborted probe panel. However, some lawmakers whose names appeared in the advertorial distanced themselves from the…

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High sulphur contents: “Oil & Gas Regulators undermining, instead of safeguarding the market” ?angote

Aminu Imam
Dangote NMDPRA

President of ?angote Group of Industries, Aliko ?angote, has advised regulators of Petroleum Refinery & Petrochemical products to safeguard the market rather than undermining it. ?angote, who disclosed this during the weekend,stated that dubious certifications accompany the importation of high-sulphur diesel into Nigeria, causing both health risks and financial losses for Nigerians. Aliko, Africa’s richest man was reacting to the statement credited to the Authority Chief Executive, Nigerian Midstream and Downstream Petroleum Regulatory Authority, (NMDPRA), Engr. Farouk Ahmed, who had alleged that ?angote Refinery and other modular refineries such as…

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CBN names 11 pre-shipment agents for crude oil, gas exports

Aminu Imam
advisors reports 1

Eleven pre-shipment monitoring and evaluation agents have been designated by the Central Bank of Nigeria (CBN) for Nigerian oil and gas exports. The appointment was announced by the Director, Trade and Exchange Department of the apex bank, in a circular dated May 13, 2024, and it took immediate effect. According to the circular, there would be 9 pre-shipment inspection agents and two monitoring and evaluation agents. The list of the nine Pre-Shipment Inspection Agents from the circular are: Neroli Technologies Limited: Qua Iboe, Forcados, and Bonny; Holborn Oil and Gas…

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