Two Nigerian business owners, Mr. Precious Adeho and Mrs. Ngozi Deborah Atalor, have emerged winners in the 2017 Shell LiveWIRE Top Ten Innovators competition, a global contest open to beneficiaries of Shell LiveWIRE, and aimed at rewarding shining cases of innovation in businesses supported by the programme.
Oil and Gas
The Minister of State for Petroleum, Ibe Kachikwu, said oil exploration in the North-east is for the good of the nation. He said this during “Overview of 2018 Budget Proposal” on Tuesday in Abuja.
He added that “we have an obligation as a nation to continue to ensure that we follow through any part of the country with visible sign of oil at all.
Thirteen countries may have shunned Nigeria’s crude oil as data obtained from the Nigerian National Petroleum Corporation (NNPC) show they have not purchased the product since 2016.
According to the data, Crude Oil by Destination report of the NNPC, the last time Uruguay, Poland and Colombia purchased crude from Nigeria, was June 2016. Cape Verde was said to have made its last purchase in November 2016 while Benin Republic, Togo and Tunisia made their last purchases in April 2016.
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has expressed the commitment of the Corporation to science education.
The NNPC GMD who stated this during the grand finale of the Corporation’s 2017 National Quiz Competition Tuesday in Abuja, said the Corporation’s stand was informed by the critical role of Science, Technology, Engineering and Mathematics (STEM) education in the quest for nation building.
OPEC just significantly overhauled its expectations for North American shale, projecting strong supply growth through the early 2020s. The revision came as part of OPEC’s World Oil Outlook (WOO), and it represents an acknowledgment from the cartel that it has failed to kill off U.S. shale by flooding the market.
Nigerian crude cargoes found their way to Portugal for the first time this year, crude export destination data released by the Nigerian National Petroleum Corporation (NNPC) showed.
Around 948,000 barrels of Nigerian crude was exported to the Western European country in May 2017, the latest NNPC report also showed.
The last time shipments of Nigerian crude oil called at Portuguese ports were in November last year and around 996,000 barrels crude was offloaded.
The Nigerian Content Development and Monitoring Board (NCDMB) accomplished all the targets set for 2017, the Executive Secretary, Engr. Simbi Wabote has said.
He spoke at the 2017 Practical Nigerian Content (PNC) workshop held at Uyo, Akwa Ibom State and confirmed that both the objectives set by industry stakeholders at 2016 PNC and the ones set internally at the beginning of the year were met. “We have gone through all of them and we ticked the boxes.”
Halliburton, one of the world’s largest oilfield services providers, and the Akwa Ibom state government have opened Nigeria’s first oil and gas training centre equipped with oilfield operations tools.
The Akwa Ibom Oil and Gas Training and Research Centre will provide courses in field development, drilling and completions engineering, well intervention solutions and digital technologies to local energy employees and students, Halliburton informed.
Nigeria's Bonny Light crude has seen its price rise to its highest levels since February, as the grade began to trade in a more regular fashion in the spot market following several months of disruption due to loading delays and forces majeures.
S&P Global Platts assessed Bonny Light at a premium of 60 cents/b versus the West Africa Dated strip. The grade last hit this value mid-August and was last higher February 21, when it was assessed at 65 cents/b.