International

NNPC/Agip JV to increase power generation by 480MW

The Nigerian National Petroleum Corporation (NNPC) and the Nigerian Agip Oil Company (NAOC) Joint Venture is set to boost the Federal Government power generation aspiration by 480 megawatts (MW) through the completion of its Okpai Phase II Independent Power Project (IPP) by 2019.

This was disclosed in Abuja on Thursday during the inauguration of the Okpai Phase II power project by the Group Managing Director of NNPC Dr. Maikanti Kacalla Baru.

NNPC/Agip JV to increase power generation by 480MW

The Nigerian National Petroleum Corporation (NNPC) and the Nigerian Agip Oil Company (NAOC) Joint Venture is set to boost the Federal Government power generation aspiration by 480 megawatts (MW) through the completion of its Okpai Phase II Independent Power Project (IPP) by 2019.

This was disclosed in Abuja on Thursday during the inauguration of the Okpai Phase II power project by the Group Managing Director of NNPC Dr. Maikanti Kacalla Baru.

Nigeria must prepare for world after oil- Osinbajo

Nigeria must use its oil wealth to prepare for a future when the world no longer runs on fossil fuels, the vice president said on Thursday.

Yemi Osinbajo said the nation, a member of the Organization of the Petroleum Exporting Countries, needed to develop renewable energy and help other businesses flourish to “adjust to the reality of the dwindling significance of fossil fuels”.

“It is no longer a question of if but when,” Osinbajo said, referring to global efforts to shift away from oil as a fuel.

Piracy: US warns ships over Nigerian waters

The United States of America, through its Maritime Administration, has published the latest Maritime Alert.

In the alert, which was released, Wednesday, it warned ships to be wary when approaching Nigerian waters.

According to the US Maritime Administration, the two recent incidences of pirate attacks in the Niger Delta of Nigeria is a confirmation of escalating insecurity around and on the waters of Nigeria. It made reference to the attacks on October 21 and 25, 2017.

OPEC cuts set to drive oil above USD$70

Oil prices were up early on Tuesday, supported by a tightening market due to ongoing OPEC-led efforts to cut supplies, although the prospect of rising U.S. shale output dragged.

Brent crude futures, the international benchmark for oil prices, were at 60.84 dollars per barrel at 0027 GMT. Brent was 60.91 dollars on Tuesday.

U.S. West Texas Intermediate (WTI) crude futures were at 54.04 dollars a barrel, 11 cents below their last close but near their highest level since February and up around 28 per cent since 2017- lows in June.

Nigeria Indictment: Eni, Shell to know fate Dec. 20

An Italian judge is expected to decide on December 20 whether to send oil majors Eni and Shell to trial over alleged corruption in Nigeria, two legal sources said on Tuesday.

Milan prosecutors have asked for the two companies and some past and present managers, including current Eni CEO Claudio Descalzi, to be indicted in a case revolving around the purchase of a Nigerian oilfield in 2011.

A judge must now rule whether to press charges or dismiss the case.

NNPC, First E&P, BGP Flag-Off Marine Oil Search

The Nigerian National Petroleum Corporation (NNPC) has declared its commitment to growing the nation’s crude oil reserves and increasing daily national production with a view to boosting the nation’s revenue generation. 
 
Group Managing Director of the Corporation, Dr. Maikanti Kacalla Baru stated this during the flag-off ceremonies of the NNPC/First E&P Oil Mining Leases (OMLs) 83/85 partnership for marine seismic data acquisition vessel in Lagos, on Saturday. 
 

Ghana calls for regional integration of downstream infrastructure

Over 3000 African elite interests in downstream oil and gas have met in Lagos, Nigeria for this year’s Oil Trading and Logistic Downstream Week.
 
Dubbed ‘Downstream – Renewed Opportunities’ the meeting was aimed at providing the platform to promote business, policy, and stakeholders relationships in downstream petroleum markets across the continent.
 

Pages