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NNPC subsidiary posts 137% increase in operating profit for 2023
June 5, 2024NewsOil & GasService CompanyUpstream

NNPC subsidiary posts 137% increase in operating profit for 2023

…targets 5% increase in market share through EPC projects Oredola Adeola   The NNPC Engineering and Technical Company (NETCO), a subsidiary of the Nigerian National Petroleum Company Limited (NNPC Ltd.), has announced a 137 percent increase in operating profits for…

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Afreximbank, APPO sign funding documents of $5 bn Africa Energy Bank
June 4, 2024DownstreamEnergy TransitionGenerationMidstreamMultilateral FinanceNewsOil & GasPowerUpstream

Afreximbank, APPO sign funding documents of $5 bn Africa Energy Bank

… as two major class A investors unite to pump $2.75bn as equity contribution Oredola Adeola The African Petroleum Producers Organization (APPO), and the African Export-Import Bank (Afreximbank) have signed the requisite documents for the establishment of the Supranational Multilateral…

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NNPC Ltd finally resolves $1.28b ExxonMobil-Seplat Energy dispute, signs settlement agreement
May 30, 2024NewsOil & GasUpstream

NNPC Ltd finally resolves $1.28b ExxonMobil-Seplat Energy dispute, signs settlement agreement

  … deals await NUPRC Subject-to-Clearance Consent within 30 days …  President Tinubu or Lokpobiri to give ministerial consent   Oredola Adeola   After over two years of delays, the Nigerian National Petroleum Company Limited (NNPC Ltd) has finally signed…

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President Tinubu commissions N24.5bn Ogbia-Nembe road project delivered by NNPC Ltd, JV partners, NDDC
May 29, 2024ImpactNewsOil & Gas

President Tinubu commissions N24.5bn Ogbia-Nembe road project delivered by NNPC Ltd, JV partners, NDDC

…calls for more collaboration to deliver sustainable projects … “25.7km Ogbia-Nembe road project is a testament to power of collaboration, shared vision” – NNPCL Oredola Adeola   President Bola Tinubu commissioned the 25.7km Ogbia-Nembe Road, valued at N24.5 billion, traverses…

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MEMAN unveils multi-stakeholder initiative to tackle root causes of petroleum tanker explosions
May 29, 2024DownstreamImpactMidstreamNewsOil & Gas

MEMAN unveils multi-stakeholder initiative to tackle root causes of petroleum tanker explosions

… stakeholders embark on comprehensive measures to enhance petroleum tanker safety … marketers to turn down underage, untrained drivers, old trucks   Oredola Adeola   The Major Energy Marketers Association of Nigeria (MEMAN) has launched a stakeholder initiative involving the…

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Bristow helicopters seeks NCDMB support to commence search, rescue operations for crude oil, gas vessels
May 27, 2024Local ContentMaritimeMidstreamNewsOil & GasSecurityUpstream

Bristow helicopters seeks NCDMB support to commence search, rescue operations for crude oil, gas vessels

  …plans to introduce light-wing aircraft into Nigeria oil and gas industry by Q4 2024   Oredola Adeola   The Management of Bristow Helicopters has initiated the plan to partner  with the Nigerian Content Development and Monitoring Board (NCDMB) to  introduce…

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700km Lagos-Calabar coastal highway to complement UN’s grant of additional 16,300 sq km to Nigeria- President Tinubu 
May 27, 2024MaritimeMining & Solid MineralNewsOil & GasSpecial Project

700km Lagos-Calabar coastal highway to complement UN’s grant of additional 16,300 sq km to Nigeria- President Tinubu 

… as Nigeria sets to unlock offshore hydrocarbons, gas, solid minerals untapped riches   Oredola Adeola   President Bola Tinubu has revealed that the construction of the 700km Lagos-Calabar Coastal Highway, will complement the United Nations to grant an extension…

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President Tinubu approves $100m investment from 4 agencies under Min. of Petroleum Resources, for $5bn Africa Energy Bank shares
May 24, 2024DocumentaryDownstreamEnergy TransitionFinanceGenerationGreen FinanceImpactMidstreamNewsOil & GasPowerRenewablesUpstream

President Tinubu approves $100m investment from 4 agencies under Min. of Petroleum Resources, for $5bn Africa Energy Bank shares

  … APPO, Afrexim Bank technical inspection team validates Nigeria’s readiness to host AEB hqtrs   Oredola Adeola   President Bola Ahmed Tinubu has  approved $100 million investment from four key agencies under the Ministry of Petroleum Resources, surpassing the…

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NUPRC announces deadline for 2024 licensing round registration, pre-qualification
May 20, 2024ConcessionNewsOil & GasUpstream

NUPRC announces deadline for 2024 licensing round registration, pre-qualification

  …announces resumption of 2022/2023 mini bid round for pre-qualified applicants   Oredola Adeola   The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) revealed that the registration and pre-qualification submission process for 2024 licensing round, which commenced on May 13, 2024,…

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PETAN foresees success of 2024 oil bid round with PIA simplifying investment process
May 16, 2024FinanceNewsOil & GasUpstream

PETAN foresees success of 2024 oil bid round with PIA simplifying investment process

  … Engr. Ogunsanya touts reasonable signature bonus as irresistible lure for investors …  Dr. Amao sets to lead NUPRC upcoming roadshow in London   Oredola Adeola   The Petroleum Technology Association of Nigeria (PETAN) has emphasized that the Petroleum Industry Act…

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