NNPC records 29% increase in products distribution, sale

The Nigerian National Petroleum Corporation (NNPC) distributed and sold about 1.3 billion litres of petroleum products throughout the country in the month of September, 2017. The figure was captured in the September 2017 edition of the monthly NNPC Financial and Operations Report which was released today in Abuja. The figure shows a 29 per cent increase from the 950.67 million litres posted in the month of August 2017.

Sirius Petroleum ready to transit into operating company

Investment company Sirius Petroleum will complete its transformation into an operating company focused on developing proven oil and gas assets in Nigeria later this week.

The company also named an interim chief operating officer. Sirius Petroleum’s transition from an investing to an operating company started in August with the signing of a joint operating agreement with Ororo field partners. To complete the process, Sirius needed shareholder approval and re-admission of its ordinary shares to trading on AIM.

Experts recommend establishment of National Transport Commission

Following the realization of the imperatives of developing an integrated and modern transport policy to drive trade and investments in Nigeria, experts have recommended the establishment of a National Transport Commission to regulate economic activities in the sector.

recommendation was the highlight of the report the Inter-Ministerial Committee for the Finalization of the Draft National Transport Policy (NTP) recently submitted to the Minister of Transportation, Rotimi Amaechi.

PENGASSAN begins nationwide strike

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), one of Nigeria’s largest oil unions, launched a nationwide strike on Monday over the laying off of its workers, its general secretary said.
PENGASSAN, whose members mainly work in the upstream oil industry, started the industrial action after talks with government agencies ended in deadlock, said Lumumba Okugbawa.

COPL: Financing delays to put off drilling offshore Nigeria

Canada’s COPL will have to put off drilling of a well in its Nigerian offshore block amid the delays in completing the financing for the project.
The company in 2016 agreed to buy  80% of the share capital of Essar Nigeria through its 50% owned affiliate, Shoreline Canadian Overseas Petroleum Limited (ShoreCan), accessing Essar’s block OPL 226. The OPL 226 sits 50 km offshore the central delta region of Nigeria in water depths ranging from 40 to 180 meters and has a one well drilling commitment linked to it.

FG approves purchase of patrol vessels to curb unregulated fishing

President Muhammadu Buhari has approved the purchase of patrol vessels to reduce unregulated fishing activities and boost security on the country’s waterways. 
The Vice-President, Prof. Yemi Osinbajo, disclosed this on Friday at the 10th Annual Ministerial Conference of the Fisheries Committee for West, Central Gulf of Guinea (FCWC) in Abuja. 

NorthWest Petroleum rebrands, commissions new mega retail outlet

·         Unveils new Corporate brand

·         Plans expansion into lubricant production

In a bid to optimize margins in the petroleum products trading and retail sub-sector, leading indigenous oil and gas company, NorthWest Petroleum and Gas Limited, has added another ultra-modern petroleum products retail outlet to its impressive and growing list of state-of-the-art downstream petroleum assets across Nigeria.

NIPCO set to deepen gas usage with free accesories

NIPCO Plc has expressed its readiness to join hands with Federal government in improving access to Liquefied Petroleum Gas [LPG] as cooking fuel to the generality of Nigerians at affordable rates. Managing Director, NIPCO, Mr Sanjay Teotia, who gave the assurance while presenting LPG accessories to public school administrators’ under the aegis of Apapa local education authority and some head teachers in Lagos said it is one of the conscious ways of encouraging use of gas as domestic cooking fuel.