Africa’s huge gas reserves currently stood at about 614 trillion cubic feet, even as Nigeria had the continent’s largest reserves with 199 trillion cubic feet , Algeria (159 trillion cubic feet) and Mozambique (100 trillion cubic feet) occupying the second and third positions respectively, the Group Managing Director of the Nigerian National Petroleum Corporation, Dr.Maikanti… READ MORE
In a bid to tackle data inconsistency in the oil and gas industry, the Federal Government has setup the Nigerian Petroleum Fiscal Consistency Network aimed at streamlining data capture process and management in the sector. The setting of the network came with the signing of a Memorandum of Understanding among the ministries of Finance, National… READ MORE
The Nigeria National Petroleum Corporation, (NNPC) has disclosed that it will continue oil exploration in the north. Disclosing this at the 40th edition of the Kaduna International Trade Fair, group managing director, NNPC, Dr. Maikanti Baru, said that the corporation has dug 10,075 feet deep with a target to reach 14,270 feet in exploration of… READ MORE
Petrofac has been awarded a contract worth around US$1 billion with Groupment Isarene, the joint operating group set up by Sonatrach, Petroceltic and Enel, for the Ain Tsila Development Project in Algeria. Located around 1,100 km southeast of Algiers, the Ain Tsila field will produce gas, LPG and Condensate, for the local Algerian market and… READ MORE
The Lagos Chamber of Commerce & Industry (LCCI) has advised the Federal Government to improve the regulatory environment in oil and gas industry to unlock huge foreign direct investment (FDI) in the sector, especially in gas and deep-water exploration. Its President, Babatunde Ruwase in a statement, said this is one of the major objectives of… READ MORE
Stanbic IBTC Holdings and its parent company, Standard Bank Group of South Africa, have partnered with Eland Oil & Gas, on a new accordion facility and increased borrowing base of $50 million, about N18 billion. In November 2018, Eland Oil & Gas, an oil and gas production and development company operating in West Africa with… READ MORE
Nigeria and the Republic of India have pledged to work more closely to enhance energy security of both countries. The consensus came on the heels of a visit on Tuesday in Abuja of the Indian High Commissioner, His Excellency, Abhay Thakur, to the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC). The release … READ MORE
Nigeria’s most economically successful state wants to go it alone, improving gas feedstock supply in a bid to woo private power project investors Lagos State is attempting to rewrite the rules of Nigeria’s power sector by developing an independent power project (IPP) programme, based on both pipeline gas and liquefied natural gas (LNG), that would… READ MORE
The Front End Engineering and Design (FEED) for the West African Gas Pipeline (WAGP) will be finalised by end of first quarter of this year, Ibe Kachikwu, Minister of Petroleum Resources, has said. The WAGP is the core focus of one of three cooperation agreements Nigeria signed with Morocco in 2018. The pre-existing pipeline takes… READ MORE
The Nigeria LNG Limited says no company has been awarded the Engineering, Procurement and Construction contract for Train 7. According to a statement from its Manager, Corporate Communications and Public Affairs, Andy Odeh, the selection process is still ongoing. The NLNG said its attention had been drawn to an oil and gas training programme organised… READ MORE