Oilgas Resources

The company said yesterday in a statement from its General Manager, Public Affairs, Mr. Ndu Ughamadu, that the situation in Abuja and Lagos would not focus on increasing gas deliveries to other states, in order to restore normalcy across the country. The statement, quoting NNPC Group Executive Director Dr. Maikanti Baru, about the company's efforts so far to eliminate fuel queues, is a coalition of civil society groups under the auspices of the government. of civil society. has fallen hard on oil traders in the country, stating that they were behind the shortage as Nigerians celebrated the Christmas and New Year festivities. Baru was quoted as saying, "With regard to trucks, we have more than doubled the number of trucks going into the country. ", we loaded and distributed products from inshore and strategic deposits of the interior like Jos. We loaded 733 trucks yesterday and the normal number of trucks we need to keep the country is about 700 but 800 to 850 trucks ...

Oil and gas transportation is the transport of oil and derivatives such as gasoline. Advances in exploration and production have helped to locate and recover a supply of oil and natural gas from major reserves around the world. Oil is transported by rail cars, trucks, tankers and pipelines. The method used to move this oil depends on the amount moved and where it is moved. The biggest problems with moving this oil are pollution and the possibility that oil can spread. Petroleum oil is very difficult to clean and is very toxic to live animals. The movement of oil to the market is a process that requires a variety of transport and storage technologies, usually referred to as "midsream". Oil is often produced in places far from where it will be consumed; as a result, transportation systems have been built to transport crude oil to refineries where it is processed and to ship refined products to where they will be consumed (such as a service station). Storage facilities are ...

US WTI crude intraday, source: FactSet On Tuesday, oil prices peaked over two-and-a-half years because of a pipeline explosion in Libya. The explosion reportedly squeezed out 90,000 barrels a day in a country that produced 973,000 barrels a day in November. The market has recently tightened, so supply disruptions are more likely to drive up prices. On Tuesday, oil prices hit record highs of more than two and a half years, according to reports that a pipeline explosion in Libya has disrupted much of the country's crude oil supply. Brent crude oil, an international benchmark, rose $ 1.81, or 2.8%, to $ 67.06, after reaching an intraday high of $ 67.10, its highest level since May 2015 . Meanwhile, the West Texas Intermediate crude oil futures contract jumped $ 1.50, or 2.6%, to $ 59.97, trading at $ 60, the best level since June 25 2015. Soaring oil prices occurred during thin exchanges between Christmas and New Year's holidays. An ex...

On Friday, oil prices fell from their highest levels since 2015, weighed down by rising US production and the expected reopening in January of the Forties pipeline in the North Sea. Despite this, markets remained well supported by continued supply cuts by the Organization of the Petroleum Exporting Countries (OPEC) and Russia. Brent forward prices, the international benchmark for oil prices, were $ 64.81 per barrel, down 19 cents or 0.1%. Market liquidity faded on Friday as traders closed their positions before the next Christmas and New Year holidays. The US West Texas Intermediate (WTI) futures were $ 58.16 per barrel at 07:55 GMT, down 20 cents or 0.3% from their latest settlement. Friday's drop was due to an upward supply outlook that prompted those with long positions to sell before the end-of-year holiday, traders said. Brent closed Thursday at $ 64.90 per barrel, its highest level since June 2015. WTI has also hit unprecedented values ​​since mid-2015 over the ...

An Exploration and Production Company (E & P) is in a specific sector of the oil and gas industry - companies involved in high-risk / high-yield exploration and production focus on research, increase, production and merchandising of different types of oil. and gas. Exploration and Production (E & P) is known as the upstream segment of the oil and gas industry. Resource owners and operators work with various contractors such as engineering and procurement contractors, as well as with joint venture partners and oil services companies, and as E operators and P producing oil and gas they cater for infrastructure and collect massive amounts of analytical data. In 2000, oil and gas exports accounted for more than 98% of export earnings and about 83% of federal government revenues, while generating more than 14% of its GDP. It also provides 95% of foreign exchange earnings and about 65% of the government's budget revenue. Nigeria's proven oil reserves are...

The new free zone company, Notore Chemical Industries FZE, will establish an oil and gas processing center in Onne, Rivers State, one of the largest in the region, strengthening the status of global player on the market. OGFZA chief executive Umana Okon Umana said the government hopes the project will attract large foreign direct investment (FDI) and create up to 15,000 jobs. He indicated that the Authority will ensure that a "favorable environment" is provided to investors in the free zone, by ensuring that the incentives provided by law are accessible. Speaking at the licensing ceremony, Notary Group's Managing Director, Onajite Okoloko, said his status as a free zone developer will bring "great opportunities" for Nigerian and international investors. "They will be impressed by more than 559 hectares of land, a dedicated gas pipeline, 50 MW of onboard power plant, more than 2 km of coastline and 7500 m² of jetty. Okoloko added that the development of ...

The delay of the Nigerian oil and gas company Oando plc's judicial audit by the Securities and Exchange Commission, SEC, is caused by "payment to auditors and other logistical problems," PREMIUM TIMES has learned. A senior SEC official told PREMIUM TIMES on Tuesday that the regulator was working to open the audit after the holidays, in 2018. The source, who spoke under strict conditions of anonymity, also referred to some of the challenges faced by the organization in the area of ​​logistics and payments to be made to external auditors. On December 5, the SEC informed Nigerians that the judicial audit of the company would begin as of the next day of notification.  But PREMIUM TIMES reported Monday that two weeks after the announcement, the regulator had not started the audit yet . "You know they (external auditors) are from the private sector and this exercise also requires money."   There may be some concerns about the payment because the auditors would...

An oil depot (sometimes called a tank farm, installation or oil terminal) is an industrial facility for the storage of petroleum and / or petrochemical products and from which these products are generally transported to end-users or other storage facilities. An oil depot usually has a tank, either above ground or underground, and gantries (frame) for spilling products in tank trucks or other vehicles (such as barges) or pipelines. Oil depots are usually located near oil refineries or in places where tankers containing products can unload their cargo. Some deposits are attached to pipelines from which they draw their supplies and deposits can also be fed by rail, barge and tanker (sometimes called "bridge"). Most oil depots have tank trucks that operate from their land and these vehicles transport products to service stations or other users. An oil depot is a relatively unsophisticated facility in that (in most cases) there is no processing or other processing on the si...

As Nigerians are still struggling with fuel scarcity, the Independent Petroleum Marketers Association of Nigeria, IPMAN said an influential oil industry group disclosed it would start its strike from Monday. The Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, said on Friday that he had no option but to discontinue its members after negotiations with government about certain labour issues were encountered. The group previously issued a 72-hour ultimatum to government to intervene on allegations of anti-worker practices against some of its members in Neconde Energy Limited, a native oil company. The umbrella body of senior workers in the oil and gas industry accused the management of Neconde Energy that the work of some of its workers belonging to PENGASSAN is being illegally terminated. Following the ultimatum, the Minister of Petroleum Resources, Ibe Kachikwu, offered a truce between the trade union and Neconde Energy Limited. However, the trade union a...

The oil and gas industry in Nigeria is the largest on the African continent. In 2014 Nigeria's petroleum industry contributes about 14% to its economy. Therefore, although the oil sector is important, since government revenues and foreign exchange are still highly dependent on this sector, it remains in fact a small part of the country's overall diversified economy. The delta basin crude oil is of two types: light, and comparatively heavy - the lightest around 36 gravity and the heaviest, 20-25 gravity. Both types are paraffinic and low in sulphur. EXPLORATION HISTORY The history of oil exploration in Nigeria dates back to 1907 when the Nigerian Bitumen Corporation conducted exploratory work in the country; However, the company left the country at the beginning of the First World War. Subsequently, licenses were awarded to D'Arcy Exploration Company and Whitehall Petroleum. However, neither company found any commercially valuable oil and they surrendered their licen...

A seven-day ultimatum has been issued to the federal government because of the "anti-labor policies" of some oil and gas companies by The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) . In a statement Thursday, the association said the action would lead to the closure of all oil and gas facilities, causing disruptions in fuel supply and distribution across the country. The government is currently fighting to end queues at the country's petrol stations. In October, PENGASSAN issued a warning after a meeting of the National Executive Council (NEC), exposing their grievances following the dismissal of some oil workers who were members of the association. Lumumba Okugbawa, Secretary General of PENGASSAN, who signed the statement, also lamented the sacking of oil workers, accusing the federal government of turning a blind eye to the situation. "The case of Oildata Services in Port Harcourt and Neconde Energy Ltd (Nestoil) is of par...

A modular refinery is by definition a prefabricated processing plant that has been constructed on skid mounted surfaces, each structure containing a portion of the entire refinery plant connected by interstitial piping to form an easily manageable process. An oil refinery is a plant where crude oil is transformed into gasoline and hundreds of other useful products or a plant where crude oil is broken down into its various components, which are then selectively changed into new products. Petroleum refining is the process that brings us crude oil to refined or finished products through an oil refinery such as high octane fuel (gasoline / gasoline), diesel, liquefied petroleum gases (LPG) , kerosene fuel oils, lubricating oils, asphalt and petroleum coke. An oil refinery is considered an essential part of the downstream side of the oil industry. The refineries are of different sizes. The range ranges from small refineries and reforming refineries to sophisticated complex refineries...

Brig.-Gen. Retired Paul Boroh, the president's special advisor on the Niger Delta, said the planned liberalization of modular refineries by the federal government would boost development in the oil-rich Niger Delta region. Boroh, who is also the coordinator of the presidential amnesty program, assured residents of the region that the proposed modular refineries in the oil-producing communities would open a new era in the Niger Delta region. General Boroh, in a statement to the Nigeria News Agency (NAN) on Saturday in Yenagoa, reiterated the commitment of the administration led by President Muhammadu Buhari to develop the Niger Delta region. He argued that the intention to make oil producing communities the hub of refining and related activities would put them in a better position to stimulate the local economy. Boroh called on young people to be calm, focused and articulate in their quest for better living conditions and to benefit from the good actions of the current admin...

HIGHLIGHTS UK Trade Envoy leads oil and gas trade mission to Uganda CNBCAfrica.com The mission was focused on seeking investment opportunities for UK companies in the oil and gas supply chain. During the 5-day mission that begun on 20 November, the delegates met with ministers, government officials, oil and gas companies and corporate entities that have interests in the industry. Exxon nears deal to explore for oil and gas offshore Mauritania Reuters DAKAR, Nov 29 (Reuters) - Exxon Mobil is close to signing a deal to explore for oil and gas offshore Mauritania, its first foray into the West African country, Mauritania's oil, energy and mines director said on Wednesday. An Exxon Mobil spokeswoman declined to comment on the deal, but said the ... New API study: STEM education is the key to diversifying America's energy workforce ...

HIGHLIGHTS Why We Should Be Optimistic About The Oil Sector Forbes Middle East However, despite this it's not all doom and gloom for the oil and gas ... opportunity that I see lies in the unexplored oil and gas reserves of African ... 'Seize Middle East O&G opportunities' New Straits Times Online 'Seize Middle East O&G opportunities' ... says Adipec 2017 is a gateway to new partnerships in the Middle East,Africa and beyond. ... “With global oil and gas (O&G) development activities expected to increase following several ... Oando chief optimistic on investment in sub-Saharan Africa Daily Trust Oando chief optimistic on investment in sub-Saharan Africa ... there is certainty in investment opportunities in Sub-Saharan Africa now than ever before. ... (ADIPEC), one of the world's most influential events for the...