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HOSCON wants FG to release N98b gas flare penalty money

Host Communities of Nigeria Producing Oil and Gas, (HOSCON) has called on the Federal Government to release N98 billion gas flare penalty money owed oil producing communities. Addressing newsmen in Abuja on Tuesday, the National Chairman, HOSCON, Mr. Mike Emuh,...

Oando gets court order to stop share suspension, forensic audit

The management of Oando plc has obtained a court order to halt the suspension of trading in its shares and a forensic audit planned by the Securities and Exchange Commission (SEC), Reuters reported yesterday. Reuters stated it sighted court documents...

Japan to offer $10b to back Asia LNG infrastructure push

Japan will offer $10 billion in private/government finances to support projects for supplying Liquefied Natural Gas (LNG) to Asia or building LNG infrastructure in Asia. The country’s Trade Minister Hiroshige Seko made this known on Wednesday at the annual LNG...

Baru emerges chairman NGA advisory board

The Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, has emerged the Chairman, Advisory Board, Nigerian Gas Association (NGA). The board was inaugurated on Tuesday during an Executive Gas Round-table for Chief Executives and Directors levels...

Delta State partners firm to produce compressed gas

Chairman, Delta State Investment Development Agency (DIDA),Chief Afam Obiago, has said the Delta State Government is partnering with Power Gas Nigeria, a private firm, to produce compressed natural gas for industrial use. Obiago who disclosed this in Asaba on Sunday...

Oando Gas & Power changes name to Axxela

Oando Gas & Power Limited (OGP), former midstream business subsidiary of Oando Plc, has changed its corporate identity and branding to Axxela Limited. According to a statement by the Investor Relations & Corporate Communications Strategy & Planning Manager, Kevin Johnson-Azuara,...

Axxela submits feasibility study on 510 Km EIIJ pipeline to NNPC

Axxela Limited formerly Oando Gas and Power Limited, sub-Saharan Africa’s preferred fast-growing gas & power portfolio company, has completed and submitted a feasibility study to the Nigerian Gas Processing and Transportation Company (NGPTC), a subsidiary of the Nigerian National...

Kachikwu, Baru discuss opportunities in petroleum industry

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu and the Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Dr.Maikanti Baru, met  on Tuesday and discussed opportunities to further develop the nation’s oil and gas sector. They met...

How Chevron is promoting local content, by MD

Chevron Nigeria Limited (CNL) is boosting local capacity through human capital development and use of local materials, writes Godwin Hills.   AS Nigeria progresses in its quest to acquire oil and gas technology and build indigenous capacity to service the oil...

Oil rises to $57/bbl as potential OPEC deal trumps U.S. exports

Oil prices rose on Thursday as signs Saudi Arabia and Russia would limit production through next year outweighed record U.S. exports and the return of production at a major Libyan oilfield. “Bullish comments from the Russian and Saudi Energy ministers...

Kachikwu intervenes in Shell/Bayelsa levy dispute

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has intervened in the dispute between Bayelsa State Government and Shell Petroleum Development Company (SPDC) over nonpayment of development levy by the oil company. TBI Africa recalls that Bayelsa Government...

Senate investigates insubordination allegations against NNPC’s boss

The Senate is investigating insubordination allegations against the Group Managing Director, Nigeria National Petroleum Corporation (NNPC), Dr. Maikanti Baru, by the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu. This was sequel to a motion on “Allegations of Corruption...

Disquiet in petroleum ministry as Kachikwu, Baru fight

It is not best of times for the managers of Nigeria’s petroleum ministry as a classified material from the Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu to President Muhammadu Buhari leaks. The Minister had written the presidency...

Oil industry to get R&D Council, says NCDMB

A research and development council will be constituted for the oil and gas industry and it will integrate research initiatives of stakeholders and steer them towards achieving tangible and beneficial outcomes, the Executive Secretary, Nigerian Content Development and Monitoring...

Senate to focus on halting capital flight in oil industry

The Senate president, Bukola Saraki says that huge capital flight in the oil and gas sector is worrisome but however assured that the present Senate focus on reforms that will address the challenges. Speaking at the opening of the three-day...

Aiteo raises alarm over fresh campaign to malign its image

  ...More details emerge about media attacks on Aiteo Aiteo Group wishes to alert our shareholders, stakeholders, host communities, investors and general public about a faceless, cowardly campaign clandestinely contrived and executed by a number of entities that have committed substantial...

DPR, Lagos to partner on oil, gas development

The Department of Petroleum Resources (DPR) has expressed its willingness to collaborate with the Lagos State Government in their quest to develop a road map for oil and gas in the state. This partnership assurance was given by Mr. Wole...

Statoil Could Lose 5% of Agbami Interest Following Expert Calculation

Statoil announced Friday that its equity interest in the Agbami field, located offshore Nigeria, could be reduced by 5.17 percent, following an expert calculation of revised tract participations for the field. Assuming implementation, this calculation will result in Statoil’s equity...

Miga Backs Seven Energy

The Multilateral Investment Guarantee Agency (Miga) has its first engagement in Nigeria’s gas sector. Miga is providing a guarantee of $200 million against the risk of expropriation to Accugas Ltd, a subsidiary of independent Nigerian oil and gas company...

Development Partners Commssion Moho Bilindo Phase 1b

Chevron Corp. and partners in the Republic of Congo (ROC) saw first production flows from the deepwater development Moho Bilondo Phase 1b. Moho Bilondo Phase 1b is part of the Moho Nord joint development project, the largest-ever oil and...

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Buhari’s achievements laudable in spite inheriting empty purse

The Minister of Information and Culture, Alhaji Lai Mohammed said President Muhammadu Buhari’s administration recorded laudable achievements, in spite of terrible economic downturn and...