The Managing Director of the Lagos Deep Offshore Logistics, Dr. Amy Jadesimi, speaks about the potential of the maritime sector and LADOL’S $500m investment in a vessel-fabricating facility expected to generate 50,000 jobs and attract $10bn private sector investment: How has it been running LADOL for eight years? As the Managing Director of LADOL, I have a very broad charge. […]
Continue reading »
Nigerian commander Remi Fadairo points to the roiling plume of black smoke blotting the morning horizon in the Niger Delta – the unmistakable sign of an illicit oil refinery. “Let’s see if we can go eat them for breakfast,” he says with an ominous chuckle. The 44-year-old colonel, a man with broad shoulders wearing his fatigues tucked into gumboots, is […]
Continue reading »
Sheds N83 billion in one month Nigeria’s crude oil production fell by 156,900 barrels per day (bpd) to 1.269 million bpd in March, from 1.426mbpd recorded in February. Consequently, the country lost its status as Africa’s top oil producer to Angola, according to latest data from the Organisation of Petroleum Exporting Countries (OPEC). With the cumulative loss of 4.8 million […]
Continue reading »
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has continued his drive to have International Oil Companies (IOCs) operating in Nigeria deepen their investments in the country with a visit to United States oil firm, ExxonMobil. The minister according to a statement from the ministry yesterday in Abuja, met with top executives of ExxonMobil at its headquarters in […]
Continue reading »
Experts fret over petroleum industry outlook To douse tension in the oil-rich Niger Delta, the Federal Government plans to award to indigenes of the region marginal fields’ oil blocks abandoned by the oil majors as being not commercially viable. The plan is in line with the government’s larger objective of reducing major incidents of restiveness to about 90 per cent […]
Continue reading »
The Nigerian National Petroleum Corporation (NNPC) has said it would support plans by the federal government to formalise illegal crude oil refining operations in the Niger Delta, saying it was part of the antidotes to criminality including militancy in the region. According to the corporation, the government’s decision would take away from the streets of the region, many of its […]
Continue reading »
In a development bound to bring shame to Africa biggest oil producer, Ghana has started exporting fuel and gas oil to Nigeria, Benin Republic, Burkina Faso, Niger and Mali from the Bolgatanga Petroleum Depot run by the state-owned Bulk Oil Storage and Transport (BOST) Company Limited. Ghana’s Minister of Petroleum, Mr Emmanuel Armah-Kofi Buah, made this known yesterday at press […]
Continue reading »