SPDC undertakes clean-up of Bayelsa, Delta communities

By Thompson ABISOLA The Shell Petroleum Development Company of Nigeria Limited (SPDC) has said it is undertaking the clean–up of areas recently affected by oil spillage in two Niger/Delta communities. The company’s Media Relations Manager, Mr Bamidele Odugbesan, said on Sunday in Lagos, the exercise had reached 95 per cent completion. Odugbesan stated that the affected areas were in Trans Ramos Pipeline (TRP) in Aghoro community, Bayelsa, and Odimodi community of Delta respectively. He said the pipelines had initially supplied crude to the SPDC Joint Venture-owned Forcados Oil Terminal in…

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NLNG: FG committed to commencement of Train-7 – Finance Minister

By Giwa SHILE The Minister of Finance, Mrs Kemi Adeosun, has said the Federal Government is committed to supporting the commencement of the Train-7 initiative of the Nigerian Liquefied Natural Gas (NLNG) plant. Adeosun stated this on Sunday during a visit to the NLNG plant  in Finima, Bonny Local Government Area of Rivers State. She said the most important critical need from the government as a shareholder was the support for the investment to commence. “That has been very critical and we have been for that approval, and with the…

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Oil prices slip over concerns of global economic slowdown

By Thompson ABISOLA Oil prices dipped on Friday, with U.S. crude heading for a seventh weekly decline amid increasing concerns about slowing global economic growth that could hit demand for petroleum products as inventories build. Brent is heading for a two per cent decline this week, a third consecutive weekly drop. West Texas Intermediate, light crude oil is on track for a seventh week of losses, with a fall of more than three per cent. Traders said the main drags on prices were the darkening economic outlook due to trade…

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NNPC seeks clarification on proposed Petroleum Asset Management Company

By Thompson ABISOLA The Nigerian National Petroleum Corporation (NNPC) on Thursday sought clarification on the funding structure of the proposed Nigerian Petroleum Asset Management Company (NPAMC) in the Petroleum Industry Governance Bill (PIGB). The Group Managing Director (GMD), NNPC, Dr Maikanti Baru, sought for the clarification at the 2018 conference of the Association of Energy Correspondents of Nigeria in Lagos. He said the bill focused on key governing institutions in Nigeria’s oil and gas industry and also aimed at separating the regulatory, policy and commercial roles of public sector agencies.…

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DPR assures of regular supply of petroleum products

By Thompson ABISOLA The Department of Petroleum Resources (DPR) has said it is working closely with the Nigerian National Petroleum Corporation (NNPC) to ensure regular supply of petroleum products. The Deputy Director and Head, Downstream Monitoring and Regulations of DPR, Mrs Ijeoma Onyeri, said this on Thursday in Warri during a two-day facility tour of Western Zone. Onyeri, who led some management staff on the inspection audit, had met with the depot owners on Wednesday at Warri Zonal office of the regulatory agency. She said DPR took the issue of…

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IPMAN suspends strike in Anambra as DPR faults demolition of filling stations

By Thompson ABISOLA The Independent Petroleum Marketers Association of Nigeria (IPMAN) at the  Enugu Depot has suspended its one-day strike in Anambra State. IPMAN had directed members to close their outlets across the state on Wednesday to protest the demolition of a member’s filling stations by the Anambra State Government over alleged wrong site of the outlets. The Association argued that the property in question was properly registered and approved by the authorities, adding that the owner ought to be adequately compensated. The Chairman of IPMAN at the Enugu Depot,…

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DPR tasks depot owners on need for fire-fighting trucks

By Thompson DANLADI The Department of Petroleum Resources (DPR) on Thursday said fire-fighting truck would henceforth be part of the prerequisites for the renewal of the operational licences of depot owners. The Deputy Director and Head, Downstream Monitoring and Regulations, Mrs Ijeoma Onyeri, , made this known at a stakeholders’ meeting with the depot owners at the DPR Warri Zonal office. Onyeri, who led other management team of the regulatory agency, said the development would help to address outbreak of fire incident in the depots. She said the visit was…

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Total assures on adding 200,000 barrels per day to Nigeria’s output

By Thompson ABISOLA Total E&P Nigeria limited has assured that it will by the last quarter of this year add 200,000 barrels of oil per day to nation’s oil production. The company’s Deputy Managing Director, Deep Water District, Mr. Ahmadu-Kida Musa, stated this in his address at the National Association of Energy Correspondents Conference, held at Eko Hotels, Lagos on Thursday. According to Musa, the theme of the conference, “Petroleum Industry Governance Bill: Emerging issues and concerns,” was relevant as it came at a period Nigeria Oil and Gas industry…

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Stakeholders demand implementation timeline for PIGB.

By Giwa SHILE           The Federal Government has been urged to set a definite timeline for the commencement of the implementation of the Petroleum Industry Governance Bill (PIGB) once President Muhammadu Buhari assets to it and it becomes a law. A panel of energy experts who spoke at the Annual Conference organised by the Association of Energy Correspondents of Nigeria (NAEC) held on Thursday in Lagos expressed the fear that unless the PIGB is insulated with a timeline stating its implementation deadline, it’s passage into law in an election year might…

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PIGB: There is need for sensitization – NNPC

 By Thompson ABISOLA The Nigerian National Petroleum Corporation has called for the sensitization of the populace on the Petroleum Industry Governance Bill which is currently on the desk of the President. The Group Managing Director, NNPC, Dr. Maikanti Baru, in his key note address at the annual conference of the Association of Energy Correspondents of Nigeria with the theme “PIGB: Emerging Issues and Concerns” he said, there is need an urgent need to sensitized the general public on the bill, if not it would go the same way other bills…

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