The oil-producing states are the most indebted across the country despite the huge derivation revenue accruing to them, investigations have shown. The oil states have a total domestic debt stock of N1.25 trillion as at March 2019, according to official data released by the Debts Management Office (DMO). This is coming
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Some off-takers of liquefied petroleum gas (LPG) have accused the Nigerian Liquefied Natural Gas (NLNG) of marginalisation in the distribution of the product in Lagos. The off-takers said the NLNG, which is the sole local supplier of LPG, also called cooking gas, deliberately restricted supply of the product to an arm
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The management of Green Energy International Limited (GEIL), the operator of the Otakikpo marginal field in Oil Mining Lease OML 11 has secured Federal Government’s approval for the full Field Development Plan (FDP) and Environmental Impact Assessment (EIA) to enable the company implement the phase 2 development of the field. These
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Petrol subsidy payouts (under-recovery) of the Nigerian National Petroleum Corporation (NNPC) shot up by 1,174 per cent in January and February as the 2019 general elections gathered steam. Records at the national oil company show that it paid N206.585 billion as under-recovery in January and February 2019, an increase of N190.37
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The Federal Government is targeting to attract $3.5bn worth of investments into the country through the Nigerian Gas Flare Commercialisation Programme and has issued letters of qualification to 205 firms that are interested in the NGFCP. It was gathered that over 850 interested parties registered their interests in the programme while
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Pioneer students of the Centre of Excellence in Offshore and Marine Engineering at the Rivers State University, Port Harcourt, have commenced the mandatory six months’ research internship with Shell Nigeria Exploration and Production Company. The research internship is a key requirement for the award of the Master of Science degree after
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NLNG Partners LCCI To Tackle Nigeria’s Power Challenge. THE Nigeria Liquefied Natural Gas Limited, NLNG and Lagos Chamber of Commerce and Industry, LCCI, have partnered to find a lasting solution to the nation’s power dilemma Speaking at the Business Interactive Workshop with members of the LCCI, and Dr. Peter Ngene, the
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Eni, Vitol Receive WB03 Block Right In Offshore Ghana. Eni and its partner Vitol have received rights to block WB03 in the Tano basin offshore Ghana. The block, located in the medium deepwaters, was one of five blocks offered in Ghana’s first international competitive bid round. Eni will be the operator of
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Damen Shiprepair Amsterdam (DSAm) has completed a major maintenance program on TechnipFMC’s diving support vessel Deep Arctic. The 156-m (512-ft) long vessel came to the yard primarily for a main class renewal (intermediate) docking and for maintenance including the renewal of the steel plates to her box coolers. To achieve this
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Oil producing companies in Nigeria have flared gas worth $2.5billion (N875billion) in the last one year. The firms include the International Oil Companies (IOCs), Independent Producers and the Nigerian Petroleum Development Company (NPDC). Data from the Department of Petroleum Resources (DPR), revealed that volume of gas that was not commercialised (flared or
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