NNPC fast-tracks seven gas projects to boost power generation

The Nigerian National Petroleum Corporation (NNPC) has identified Seven Critical Gas Development Projects (7CGDP) scheduled to deliver about 3.4billion standard cubic feet of gas per day on an accelerated basis to bridge a projected medium term supply gap by 2020.

"Gas development will mitigate future oil price drops"- Baru

Group Managing Director of the Nigeria National Petroleum Corporation (NNPC), Dr Maikanti Baru, on Thursday, announced that the corporation will soon diversify its revenue inflow using the country’s enormous gas resources to mitigate the impacts of future oil price drops and accelerate the growth of the nation’s economy.

Refineries production capacity to increase by 555,000 bpd

The Nigerian National Petroleum Corporation (NNPC) has disclosed plans to increase the name plate capacity of its refineries to one million barrels of crude oil per day from its current 445,000 bpd.

Group Managing Director of NNPC, Mr. Maikanti Baru, stated this at Society of Petroleum Engineers (SPE) Oloibiri Lecture Series and Energy Forum 2018 with theme: ‘‘The Nigerian Oil Industry in a world of Changing Energy Supply- Are we prepared?”

Over 100 companies express interest in Ibom Deep Sea Port

The much-talked about Ibom Deep Sea Port in Akwa Ibom State would soon be realised, as more than 100 companies across the globe have reportedly indicated interest for the development of the Port.

This was disclosed by the State Commissioner for Housing and Special Duties, Akan Okon, while speaking with journalists in his office yesterday in Uyo.

NNPC committed to promoting competitive edge in non-oil sectors

The Nigerian National Petroleum Corporation (NNPC) has expressed its commitment towards providing the necessary assistance for Nigeria to attain competitive edge in non-oil sectors of the economy.

To demonstrate its commitment, the Corporation has set up the Renewable Energy Division which is focused on not only developing solar and other renewable energy sources but also on developing biofuels that are heavily dependent on agricultural produce as feedstocks.

NIMASA moves to sanitize Ship Registry

Non-conformity with international best practices resulting in inefficient activities and operations of the Nigerian Ship Registration office has been identified as a major factor Nigeria lost its election bid into the IMO Council in 2017.

A key criterion for election into Category C of the IMO Council- for countries with special interests in maritime transport or navigation- is the quality and quantity of vessels in a country’s Ship Registry.

Vitol, Trafigura, Oando in final talks on refineries overhaul

The Nigerian National Petroleum Corporation (NNPC) is in the final stages of talks with two consortiums that include top traders, energy majors and oil services companies to revamp its dilapidated refineries, sources familiar with the matter said.

Four banking and trading sources told Reuters the groups would be paid via the offtake of refined products rather than cash, putting the onus on them to revive the refineries and keep them running smoothly to ensure their investments earn a return.

Integrated Oil boss seeks FG’s support over refinery

Captain Emmanuel Iheanacho has appealed to the Federal Government to provide funding and enabling environment for entrepreneurs to establish modular refineries, to meet the nation’s refining capacity and boost the economy.

Iheanacho, a promoter of 20,000 Barrel Per Day (BPD) production capacity of Eko Refinery and Petrochemical, made the appeal in Lagos. He said the $250m (N90 billion) modular refinery at Tomaro Island Port, Amuwo Odofin Local Government Area, Lagos State, would be a hub for the refinery industry.

Lekki port breakwater reaches over 235 meters completion

THE Chief Executive Officer of the Lekki Port LFTZ Enterprise, Mr Navin Nahata has revealed that the construction of the Lekki port Breakwater has reached over 235 metres completion stage.

This is even as the Lekki port CEO commended the Lagos State government and the Nigerian Ports Authority (NPA), the major stakeholders in the development of the Lekki Port project, for their unwavering support so far on the project.

Nigeria gas reserves up by 4.067tcf, says NNRC

Nigeria‘s natural gas reserves have risen by 4.067 trillion cubic feet (tcf) from 187.998tcf in 2014 to 192.065tcf in 2015, the Nigerian Natural Resource Chapter (NNRC) has said.

In its “2017 Benchmarking Exercise Report” the body said gas reserves in 2013 stood at 181.95 tcf, 182. 258tcf in 2012, 183.434tcf in 2011 and 182.817 tcf in 2010.

The report added that the reserves included associated and non-associated gas, adding that the country remained one of the largest producers of natural gas.


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