NCDMB, Greenville LNG to partner on alternative power supply

...Senate probes BoI over $200m NCIF fund

The Nigerian Content Development and Monitoring Board (NCDMB) will collaborate with Greenville Oil and Gas Company Limited on the possibility of using Liquefied Natural Gas (LNG) to provide an alternative source of electricity for the Board’s new 17 storey headquarters building in Yenagoa, Bayelsa State.

This discussion was initiated recently when the Executive Secretary of NCDMB, Engr. Simbi Wabote visited Greenville Oil and Gas at Rumuji, Rivers State with management of the Board and representatives of operating companies.

Shell, Agip fault Amnesty’s oil spill report in Niger Delta

The Shell Petroleum Development Company of Nigeria Limited (SPDC) and Nigerian Agip Oil Company Limited (NAOC) have faulted Amnesty International’s (AI’s) oil spill report against them.

While SPDC described the report as false and lacking merit, Agip said that some of the statements made by Amnesty International were not correct and, in some cases, not acceptable.

A research project by AI had exposed evidence of serious negligence by oil giants, Shell and Eni, whose approach to oil spills in the Niger Delta is exacerbating an environmental crisis.

NNPC vows that refineries will roar back soon

The Nigerian National Petroleum Corporation (NNPC) would not relent in its quest to get the nation’s four refineries back to their optimal, nameplate capacities.

Group Managing Director of the corporation, Dr. Maikanti Baru disclosed this shortly after receiving this year’s Man of the Year Award from Nigerian NewsDirect, a Lagos-based daily publication, in Lagos, at the weekend.

Nigeria to send PIGB for Presidential assent by end Q1- Senator

Nigeria hopes a long-delayed bill to overhaul parts of the country’s oil industry can be sent to President Muhammadu Buhari to be signed into law by the end of March, the head of a parliamentary petroleum committee said on Friday.

The OPEC member is Africa’s largest oil producer. Crude sales are the nation’s economic mainstay, making up two-thirds of government revenue, but the sector’s development has been held back for decades by mismanagement.

AI claims Shell, Eni misled Nigeria on oil spills

Rights group, Amnesty International (AI) has claimed that oil giant, Royal Dutch Shell, Plc and Eni Spa may have misled regulators in Nigeria by wrongly attributing oil spills to theft and sabotage in order to avoid paying compensation to affected communities.

“Amnesty International researchers have identified that at least 89 spills may have been wrongly labeled as theft or sabotage when in fact they were caused by ‘operational’ faults,” the London-based group said in the report released on Thursday.

Oil prices jump, Brent hits approximately $70

Oil prices jumped on Friday, with Brent crude futures hitting their highest in more than two weeks as U.S. stock prices rose.

Investors covered short bets ahead of a weekend in which the U.S. news programme “60 Minutes” will air an interview with Saudi Arabia’s crown prince. Brent futures rose to more than 66.42 dollars , its highest since Feb. 28. U.S. West Texas Intermediate (WTI) crude futures for April, which will expire on Tuesday, rose to 62.54 dollars on Friday, its highest since March 7.

NCDMB charges Charkins Maritime on Seafarers’ training

The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote has challenged the management of Charkins Maritime and Offshore Safety Centre to develop a strategy that will provide maritime cadets with sea time experience required to qualify them as professional sailors.

Such a strategy would foster a partnership arrangement with the Board to address the deficit of trained cadets in the maritime and oil and gas industries.

Shippers’ Council To Transmute Into National Transport Commission

After a long winding exercise to set up an economic regulator for the ports, the transmutation of the Nigerian Shippers' Council into a National Transport Commission is finally on the home stretch.

This followed the passage of the NTC bill by the House of Representatives which seeks an Act to establish the NTC as an independent multi-modal transport sector regulator.

NIMASA to Partner BPE to Re-float National Shipping Line

The Nigerian Maritime Administration and Safety Agency (NIMASA) has expressed its willingness to partner the Bureau of Public Enterprises (BPE) to refloat a National Shipping Line. The Director General of NIMASA, Dr. Dakuku Peterside stated this when he hosted the Director General of the BPE, Mr. Alex Okoh in his office in Lagos.

According to Peterside, shipping to an extent, defines the growth trajectory of any nation especially as it relates to seaborne commerce.

Nigeria’s oil reserves drop by 961 million barrels

Contrary to the Federal Government’s target of increasing crude oil reserves, the country recorded a decline of 961.47 million barrels in four years on the back of low investment in exploration by oil companies.

The oil reserves fell from a high of 32.23 billion barrels in 2012 to 31.27 billion barrels in 2016 while the condensate reserves stood at 5.47 billion barrels from 4.91 billion barrels in 2012, the latest data obtained from the Department of Petroleum Resources by our correspondent showed.


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