The Chief Operating Officer, Oando Energy Resources, ALEX Irune, has said that the passage of the Petroleum Industry Bill (PIB) will unlock several partnership opportunities for indigenous oil and gas companies. Irune made the assertion during a panel session at the ongoing Nigeria Oil and Gas (NOG) conference and exhibition on Wednesday in Abuja. The …read more →
ENERGY
Dangote Refinery Will Transform Downstream Sector, Provide Better Margin for Marketers – Oil Marketers
The Major Oil Marketers Association of Nigeria (MOMAN) has expressed optimism that when the 650,000 Dangote Refinery comes on stream, it will change the way business is carried out in the downstream petroleum sector and deliver much value for operators in the industry. Chairman MOMAN, Adetunji Oyebanji said the group hope that Dangote refinery would …read more →
PIB: Local Refineries to Pay for Crude Oil in Naira
With the passage of the much-awaited Petroleum Industry Bill (PIB) by both chambers of the National Assembly last week, local refineries would be able to purchase Nigerian crude in Naira. All private refining plants will have access to local crude oil by paying naira instead of foreign exchange as before. Dangote refinery is nearing completion and …read more →
Renewable Energy: Nigeria, Two Others to Benefit From IKEA, Rockefeller $1 Billion Support
IKEA Foundation, the charitable arm of the world’s biggest furniture retailer IKEA, and the Rockefeller Foundation said on Monday they plan to set up a $1billion c in developing nations. The fund, which will be launched this year, aims to reduce one billion tons of greenhouse gas emissions and empower one billion people with distributed …read more →
Four Foreign Oil Firms Seek Stakes in Dangote Refinery as Completion Date Nears
Four foreign-based oil firms have shown interest in acquiring stakes in the Dangote Refinery, which is expected to be commissioned by the first quarter of 2022, according to a senior executive of the Dangote Group. Devakumar Edwin, Dangote Group executive director told Reuters that four oil firms, aside from the state-run oil corp, the Nigerian …read more →
Savannah Energy to Acquire ExxonMobil Two Energy Assets in Chad, Cameroon
Savannah Energy has said that it was in exclusive talks to buy U.S. oil producer Exxon Mobil Corp’s interest in two energy assets in Chad and Cameroon. The British oil and gas producer is proposing to buy a 40 percent operated interest in the Doba oil project in Chad, and a 40 percent interest in …read more →
Gov Ayade Tasks Youths on Renewable Energy
Cross River State Governor, Prof Ben Ayade, has challenged Nigerian youths to explore technological developments in the area of renewable energy. Governor Ayade gave the charge at a capacity building workshop on Small Hydro Power Plant for Renewable Energy Development in Calabar, organised by the United Nations Industrial Development Organization, UNIDO. The governor particularly tasked …read more →
Nigeria Engages Shell Over Plans to Divest from Its Onshore Assets
Nigeria is currently engaging Royal Dutch Shell Plc on the modalities for orderly divestment from its onshore oil and gas assets in the country. Nigeria is encouraging the energy company to retain its interest in the onshore oil and gas business in the country instead of divesting it, or better still cede it to a …read more →