Nigeria LNG Ltd. (NLNG) has affirmed that its operations at the Bonny Island plant remain underway, notwithstanding the ongoing Force Majeure status. This action is in response to major liquids evacuation pipelines being unavailable due to acts of sabotage and vandalism. The company assured that these challenges have not halted its overall functioning. In a Read More…
Oil & Gas
Search and Rescue underway as Seplat Energy’s drilling rig capsizes
In a startling incident, Seplat Energy’s drilling rig, the Depthwize Majestic Rig, capsized and partially sunk during a delicate move in the swampy Delta region. This happened around 5:00 AM on a Tuesday, leading to urgent efforts to rescue the rig’s crew. The Nigeria Upstream Petroleum Regulatory Authority (NUPRC) quickly confirmed the news and stated Read More…
LPG retailers call for government action to avert price hike
The Liquefied Petroleum Gas Retailers Association (LPGAR) has called on the federal government to establish more local LPG production plants, and encourage storage and transportation of the product to avert a price hike. The association’s branch national chairman, Ayobami Olarinoye, made the remarks in an interview with the News Agency of Nigeria (NAN) in Lagos Read More…
Nigeria LNG Maintains Force Majeure Declaration Due to Persistent Disruptions
Nigeria LNG announced on Wednesday that the force majeure, initially declared in October due to extensive flooding causing supply disruptions, remains in effect. Force majeure denotes unforeseen external circumstances that hinder a contracting party from fulfilling its obligations. “The force majeure still stands due to the continued unavailability of upstream gas suppliers’ primary liquids evacuation Read More…
CERAWEEK top Exxon boss wants to unblock sale in “challenging” Nigeria
In order to proceed with the blocked sale of its shallow water oil production activities in Nigeria, Exxon Mobil Corp hopes to obtain the government’s approval, a top Exxon executive told Reuters. Exxon Global Upstream President Liam Mallon announced this ahead of the CERAweek energy conference by S&P Global, which will begin on Monday in Read More…
Nigeria shortlists 139 gas flaring enterprises
The Chief Executive of Nigeria’s petroleum regulator, the Nigeria Upstream Petroleum Regulatory Commission (NUPRC), announced in a statement that 139 companies have been shortlisted for the next phase of the nation’s commercialisation programme for gas flaring as part of efforts to minimise carbon emissions. The commercialisation of gas burned from Nigeria’s oil fields is planned, Read More…
IPMAN appeals to members not to embark on strike
The Independent Petroleum Marketers Association of Nigeria (IPMAN) on Thursday stated its members would not embark on a nationwide strike as being predicted. In an interview with newsmen in Lagos, Mr. Mike Osatuyi, IPMAN’s National Operations Controller, provided the assurance. It was vital, according to Osatuyi, to refute the claim that lPMAN members intended to Read More…
Supreme Court allows Shell to appeal decision delaying sale of assets
In a case that has delayed the corporation’s sale of its onshore assets, Nigeria’s Supreme Court on Friday permitted Shell Plc’s local business to appeal a decision ordering the company to pay $1.8 billion in damages for an alleged leak. Until the court issued a decision regarding an appeal filed by its subsidiary Shell Petroleum Read More…
Centre for Justice Development advocates gradual removal of petroleum subsidy
The lead director of the Centre for Social Justice (CSJ), Mr. Eze Onyekpere, has demanded that Nigerian subsidies be gradually eliminated. At the Public Policy Dialogue and Unveiling of Partnership for Amplified Voices (PAV) in Abuja, Onyekpere made the announcement. The director stated it was time for drastic action to be taken on subsidy. The Read More…
Nigeria seeks to end importation of petrol in 2023
Nigeria aims to stop importing petroleum products before or around the third quarter of 2023, according to oil minister Timipre Sylva. Sylva stated that a rebuilt refinery in the oil-producing Niger Delta city of Port Harcourt will start providing 60,000 barrels per day of processed crude by the end of December. The minister also stated Read More…