Oil and Gas

Literature Prize: NLNG presents $200,000 to winners

Nigeria LNG (NLNG) Limited has formally presented The Nigeria Prize for Literature and The Nigeria Prize for Science to winning entries that emerged from the 2017 edition. A cash prize of $100,000 went to each winner.
 
First prize winner and author The Heresiad, Ikeogu Oke, was awarded a $100, 000 cheque while joint science prize winners Ikeoluwapo Ajayi, Ayodele Jegede, Bidemi Yusuf, Olugbenga Mokuolu and Chukwuma Agubata were awarded the Nigeria Prize for Science, with a cash prize of $100,000, split evenly. The prizes were presented in Lagos on Wednesday.

Does Total’s Egina project sound death knell for OPEC’s production cut deal?

…Egina set to add 200,000 barrels a day by Q4 2018

The oil production cut deal masterminded by OPEC and non-OPEC member countries amid a global push to curb supply and restore a semblance of balance in global oil prices may come under threat once Total Upstream Nigeria Limited (TUPNI) commences production from its 200,000 barrels a day Egina Field offshore Nigeria by the fourth quarter of 2018.

PMS: NNPC to import 100 million litres/day in February

With the return of fuel queues in some major Nigerian cities, the Nigerian National Petroleum Corporation (NNPC) has programmed to bring in two cargoes of petrol per day for the rest of February 2018 to boost supply.
 
Each cargo will include 50 million litres, roughly 35,000 tonnes, to “increase supply and replenish strategic reserves”, NNPC said in a statement.
 
Also, to enhance supply, 45 million litres of petrol was discharged from ships into jetties across the country on Thursday.
 

Vitol ships rare Suezmax cargo to West Africa

Nigeria’s push to keep its citizens stocked with fuel is drawing close to a million tonnes a month of gasoline from Europe - including now on a rare Suezmax vessel booked by Vitol.
 
The country is working overtime to replenish its tanks after shortages and queues popped up across the nation of more than 180 million in early December - sparking a scramble for state oil company NNPC.
 

The NPA-Intels saga rolls on

The NPA has given Intels Nigeria a two-week ultimatum to remit an outstanding $48 million that ought to have been paid into the maritime agency’s treasury single account in 2017. 
 
Speaking during an interview with CNBC Africa, Hadiza Bala Usman, the agency’s managing director, said Intels’ notice of termination will stand if the company failed to settle its debt. 
 
“I am giving Intels a possible two-week window to provide payment, two weeks from now, following which the notice of termination will not be withdrawn,” she said. 

PTDF to accelerate oil exploration in northern frontier basins

The Petroleum Technology Development Fund (PTDF) recently conducted a two-day Regional Technology Knowledge Sharing Programme (RTKSP) at the Usmanu Danfodio University, Sokoto with focus on the hydrocarbon potentials of the Sokoto and other frontier basins of Nigeria. 
 
This is a significant step towards the application of knowledge from its sponsorship of local research to solve problems of the oil and gas industry.
 

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